A | B |
ethics | making a decision based basic principles of right and wrong |
business ethics | companies 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-Cut | Understanding business ethics are difficult because ethics are not always this |
Overlap | Ethics and law are not the same thing but they do this |
Unwritten | Business ethics unlike recorded law are often this |
Consequences | These are different for breaking the law than breaching ethics |
Social responsibility | The 4 pillars are economic, legal, ehtical, and philanthropic |
Charity | A businesses philanthropic responsibility involves contributions to this |
Stakeholders | An obligation to the employee group of these may be to provide a safe working environment |
Success | An ethical business contributes to its own this |
Illegal | Businesses may be a part of something that some consider unethical because the action is not this |
Industry | Businesses may be a part of something that some consder unethical because the action is consdiered acceptable within the given this |
Money | Some people believe that a business's only true ethical obligation is to make this |
Positive Outcomes | A business practicing good ethics will not necessarily be guaranteed this |
Unethical employees | Some companies act unethically and blame it on these |
Public Image | A negative one of these may be the result of a businesses poor ethics |
Customers | businesses may lose this lefeblood of the company due to poor ethics |
Decreased productivity | An internal business problem caused by poor ethics that makes people not work as hard |
Finacial | Dcreased company value is one of these risks due to poor ethics |
Stock Prices | These may be lowered due to unethical business practices because investors prefer companies they perceive to be ethical |