Ethics in Business (Vocab) icev

All the parties which interact with the business

• customers

• stakeholders

• owners

• patrons

Set of standards of conduct that guide decisions and actions based on duties derived from core values

• morals

• code of conduct

• ethics

• conscience

Duties and obligations of businesses which contribute to the well-being of society

• ethical behavior

• legal behavior

• business behavior

• business social responsibility

Action guided by a set of principles of morality

• ethical behavior

• legal behavior

• business behavior

• business social responsibility

Conduct based on or authorized by law, which is established by society to maintain order and protect people and properties from harm

• ethical behavior

• legal behavior

• business behavior

• moral behavior

Conduct in accordance with what a person determines is right versus wrong

• code of ethics

• legal behavior

• business behavior

• moral behavior

Set of written standards issued by an organization to assist its employees in conducting their actions in conformity with the organization's ethical values

• code of ethics

• legal ethics

• business ethics

• moral ethics

Complex situation in which people have difficulty choosing between a moral or an immoral act

• business dilemma

• ethical dilemma

• legal dilemma

• moral dilemma

An organization's financial statement containing untrue data which is used to mislead

• tabloid statement

• false financial statement

• bank statement

• stock statement

An entrusted person converts assets or properties for his or her own use

• fraud

• misleading

• theft

• embezzlement