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EC LAP 21 Business Ethics

AB
ethicsmaking a decision based basic principles of right and wrong
business ethicscompanies use these to determine whether or not an action is acceptable for a business and often considers if it has a negative impact on others
Clear-CutUnderstanding business ethics are difficult because ethics are not always this
OverlapEthics and law are not the same thing but they do this
UnwrittenBusiness ethics unlike recorded law are often this
ConsequencesThese are different for breaking the law than breaching ethics
Social responsibilityThe 4 pillars are economic, legal, ehtical, and philanthropic
CharityA businesses philanthropic responsibility involves contributions to this
StakeholdersAn obligation to the employee group of these may be to provide a safe working environment
SuccessAn ethical business contributes to its own this
IllegalBusinesses may be a part of something that some consider unethical because the action is not this
IndustryBusinesses may be a part of something that some consder unethical because the action is consdiered acceptable within the given this
MoneySome people believe that a business's only true ethical obligation is to make this
Positive OutcomesA business practicing good ethics will not necessarily be guaranteed this
Unethical employeesSome companies act unethically and blame it on these
Public ImageA negative one of these may be the result of a businesses poor ethics
Customersbusinesses may lose this lefeblood of the company due to poor ethics
Decreased productivityAn internal business problem caused by poor ethics that makes people not work as hard
FinacialDcreased company value is one of these risks due to poor ethics
Stock PricesThese may be lowered due to unethical business practices because investors prefer companies they perceive to be ethical


Marketing Education/DECA
Terre Haute South High School
IN

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