Tyler S.
11-5-08
Teacher Malone
Introduction to Business
Chapter 4
Vocabulary
This is prepared for the Business student by a
student in your business classes.
Chapter 4: Business Ethics &
Social Responsibility: Semester 1
1
Ethics
• A set of moral principles by which
people conduct themselves personally,
socially, or professionally.
Chapter 4: Business Ethics &
Social Responsibility: Semester 1
2
Business Ethics
• Set of guidelines about how a business
should conduct itself.
• Focuses on decisions considered good
or bad, correct or incorrect.
Chapter 4: Business Ethics &
Social Responsibility: Semester 1
3
Sweatshops
• Factories that
– Have unsafe working conditions
– pay poorly,
– treat workers badly
Chapter 4: Business Ethics &
Social Responsibility: Semester 1
4
Occupational Safety and
Health Administration (OSHA)
• A division of the United States Department
of Labor that sets and enforces workrelated health and safety rules. OSHA is
an independent agency set up to protect
society.
Chapter 4: Business Ethics &
Social Responsibility: Semester 1
5
Code of Ethics
• A strict of guidelines in a profession or
company for upholding ethical behavior in a
workplace.
• Business police themselves by distributing
code of ethics.
• Doctors, lawyers, journalists, teachers have
their own code of ethics.
• Covers everything from employee behavior to
environmental safety.
Chapter 4: Business Ethics &
Social Responsibility: Semester 1
6
Social Responsibility
• The obligation to do what is best for the
welfare of society.
Chapter 4: Business Ethics &
Social Responsibility: Semester 1
7
Conflict of Interest
• When a business puts profits before
the interests of society.
Chapter 4: Business Ethics &
Social Responsibility: Semester 1
8
Food and Drug Administration
(FDA)
• A governmental agency
• protects consumers from dangerous or
falsely advertised products
• For example, pain medicines
Chapter 4: Business Ethics &
Social Responsibility: Semester 1
9
Equal Pay Act
• A federal law requires both men and
women get paid the same wages for
doing equal work
• Passed in 1964
Chapter 4: Business Ethics &
Social Responsibility: Semester 1
10
Environmental Protection
Agency (EPA)
• Created in 1970
• A federal government agency
• Enforces rules that protect the
environment and controls air pollution
Chapter 4: Business Ethics &
Social Responsibility: Semester 1
11