1. Unit 5 Ethics

2. Set of moral principles that govern decisions and actions

3. Universal Values Values shared by all cultures throughout history

4. Business Ethics Moral principles applied to business issues and actions

5. Why Practice Business Ethics 1.Customers are more confident 2.Motivates Employees 3.Prevents Legal Problems

6. Responsibilities of businesses to employees 1.Safe workplace 2.Fair employment policies 3.Tools to do the job 4.Trust 5.Respect for skills 6.Consideration for personal needs

7. Transparency Openness and accountability in business decisions and actions Transparency is promoted by protecting whistleblowers Ex. When communicating with investors you should tell them both bad and good news about the business.

8. Social Media Can use as a demonstration of transparancy

9. Whistle-blower Term for someone who reports illegal or unethical conduct to superiors or to the public

10. Write your own personal code of ethics Clarify your values and principles Prevent problems Provides protection against claims of unfairness

11. Assignment Read the code of ethics on page 110. Write your own personal code of ethics containing 3 points

12. Intellectual Property Artistic and industrial creations of the mind. Protected by law.

13. Copyright Exclusive right to perform, display, copy or distribute an artistic work. Using an image or music without permission is copyright infringement

14. Patent Exclusive right to make, use, or sell a device or process

15. Trademark Symbol that indicates that the use of a brand or name is legally protected and cannot be used by other businesses. TM symbol and R symbol

16. Infringement Violating a copyright, trademark or patent holders rights.

17. Fair Use Provides for the limited quotation of a copyrighted work without permission

18. Public Domain Copyright or patent has expired

19. Conflict of Interest Ethical decision that exists when personal considerations and professional obligations interfere with eachother

20. Corporate social responsibility Act in ways that balance profit and growth with the good of society

21. Qualities to have responsible relationship with customers 1.Honesty 2.Respect 3.Accessibility 4.Attention

22. Ethical Sourcing Buying from suppliers who provide safe working conditions and respect workers rights

23. Sustainable Meets the planet’s current needs while preserving resources for future generations

24. Carbon Footprint Measures the amount of carbon you use and release into the atmosphere

25. Carbon Offset Buy a certain amount carbon credits to offset your carbon use. Money is invested in renewable energy or resource conservation projects

26. Greenwashing Business try to appear environmentally responsible by overstating their commitment

27. Energy Star Efficient, money saving appliances have this label

28. Recycle What a business can do with paper & plastic to save money and help the environment

29. Greenwashing Business try to appear environmentally responsible by overstating their commitment

30. Cause-related marketing Partnership between a business and a non-profit for the benefit of both

31. Sponsorship Business sponsors a community event or service in exchange for advertising

32. Facilitated Giving Business makes it easier for customers to contribute to a cause (cans in checkout lanes)

33. Purchase-Triggered Donation For every purchase of a particular item the business contributes an amount of money or percentage of price

34. Philanthropy Donate money and other resources for socially beneficial causes

35. In-Kind Donation Gift of a good or service