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.

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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 Chapter 4: Business Ethics & Social Responsibility: SEMESTER 1

Chapter 4: Business Ethics & Social Responsibility: Semester 1 A set of moral principles by which people conduct themselves personally, socially, or professionally. Chapter 4: Business Ethics & Social Responsibility: Semester 1 Chapter 4: Business Ethics & Social Responsibility: SEMESTER 1

Chapter 4: Business Ethics & Social Responsibility: Semester 1 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 Chapter 4: Business Ethics & Social Responsibility: SEMESTER 1

Chapter 4: Business Ethics & Social Responsibility: Semester 1 Sweatshops Factories that Have unsafe working conditions pay poorly, treat workers badly Chapter 4: Business Ethics & Social Responsibility: Semester 1 Chapter 4: Business Ethics & Social Responsibility: SEMESTER 1

Occupational Safety and Health Administration (OSHA) A division of the United States Department of Labor that sets and enforces work-related health and safety rules. OSHA is an independent agency set up to protect society. Chapter 4: Business Ethics & Social Responsibility: Semester 1 Chapter 4: Business Ethics & Social Responsibility: SEMESTER 1

Chapter 4: Business Ethics & Social Responsibility: Semester 1 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 Chapter 4: Business Ethics & Social Responsibility: SEMESTER 1

Social Responsibility The obligation to do what is best for the welfare of society. Chapter 4: Business Ethics & Social Responsibility: Semester 1 Chapter 4: Business Ethics & Social Responsibility: SEMESTER 1

Chapter 4: Business Ethics & Social Responsibility: Semester 1 Conflict of Interest When a business puts profits before the interests of society. Chapter 4: Business Ethics & Social Responsibility: Semester 1 Chapter 4: Business Ethics & Social Responsibility: SEMESTER 1

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 Chapter 4: Business Ethics & Social Responsibility: SEMESTER 1

Chapter 4: Business Ethics & Social Responsibility: Semester 1 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 Chapter 4: Business Ethics & Social Responsibility: SEMESTER 1

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 Chapter 4: Business Ethics & Social Responsibility: SEMESTER 1