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Ethical Issues D072

Section 1

TermDefinition
stakeholders individuals, groups, or organizations that have an interest or concern in a particular project, decision, or outcome
business laws a set of rules and regulations that govern the rights, relations, and conduct of individuals and businesses engaged in commerce and trade
conflict of interest when an individual's personal interests interfere with their professional responsibilities or decisions, potentially leading to biased or unethical outcome
Legal An act that is allowed or is in conformity with the law of the land
Legal-Ethical Actions that are both permitted by law and align with ethical standards.
Legal-Unethical Actions that are allowed by law but violate ethical standards.
Illegal-Ethical Actions that are considered ethical but violate laws, often done for a higher moral purpose.
Personal ethics refers to the principles that guide a person's behavior in everyday life. They help determine what is right, wrong, just, positive, and negative.
Organizational ethics a branch of applied ethics that focuses on rules, principles, and standards in the context of business activities
corporate social responsibility (CSR) a business approach where companies integrate social, environmental, and ethical considerations into their operations and decision-making processes, aiming to contribute positively to society while maintaining profitability
social entrepreneurship the use of innovative business methods to address social or environmental issues while generating profit
code of conduct a formal document that outlines the moral principles and standards of behavior that individuals within an organization or profession are expected to follow, guiding their decision-making and ensuring integrity, fairness, and accountability
transparency the practice of openly and honestly sharing information and decisions with stakeholders to build trust, ensure accountability, and support ethical practices.
accountability taking responsibility for one's actions and decisions, ensuring they align with ethical standards and addressing their outcomes
greenwashing the deceptive practice where a company falsely promotes its products, policies, or initiatives as environmentally friendly to mislead consumers and improve its public image without making substantial sustainability efforts
whistleblower an individual who reports or exposes unethical, illegal, or harmful activities within an organization, often risking their own job security or personal safety to bring such issues to light
Values the core beliefs that guide decisions and behavior, helping individuals distinguish right from wrong
Morals personal feelings of right and wrong
Ethics the rules of right and wrong in society
Created by: nilsa.elias
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