Business Ethics

An economic system based on the private ownership of how things are made and sold, in which businesses compete freely with each other to make profits

• Capitalism

• Hypocritical window dressing

• Globalisation

• Consumerism

A person who has invested money in a business in return for a share of the profits

• Capitalism

• Stakeholder

• Shareholder

• Whistle-blowing

Business ethics theory that the aim of business should be to raise PROFIT for shareholders, developed by Friedman

• Shareholder

• Stakeholder

• Shareholder theory

• Stakeholder theory

When an employee discloses wrongdoing to the employer or the public

• Globalisation

• Whistle-blowing

• The invisible hand

• Consumerism

Pope Pius XI papal encyclical highlighted the importance of 5 qualities: SOLIDARITY, SUBSIDIARITY, FRATERNITY, RECIPROCITY, SUSTAINABILITY

• Triple bottom line

• Quadragesimo Anno

• Catecheism

• Magisterium

A set of social beliefs that put a high value on acquiring material things

• Corporate social responsibility

• Triple bottom line

• Caveat emptor

• Consumerism

A way to market their products better e.g. focusing on a small project that is environmentally beneficial to distract from other projects that are not within the business

• Hypocritical window dressing

• Whistle-blowing

• Corporate social responsibility

• Caveat emptor