Business Ethics Flashcards

Which ethical principle requires business professionals to be honest and truthful in all their dealings?

Answer: Integrity

Integrity means being honest and having strong moral principles, which is foundational to ethical business conduct.

A DECA member notices a coworker taking money from the cash register. What is the most ethical course of action?

Answer: Report it to management or a supervisor

Reporting theft to management upholds ethical standards and protects the business, which is the responsible course of action.

What term describes a conflict between a personal interest and a professional responsibility?

Answer: Conflict of interest

A conflict of interest occurs when personal interests could improperly influence professional decisions or actions.

Which document outlines acceptable and unacceptable behaviors for employees within an organization?

Answer: Code of ethics

A code of ethics is a formal document that establishes standards of conduct and ethical expectations for employees.

Whistleblowing in a business context refers to:

Answer: Reporting illegal or unethical behavior within an organization

Whistleblowing means reporting unethical or illegal activities by an organization or individual to internal or external authorities.

Corporate social responsibility (CSR) primarily refers to a business's commitment to:

Answer: Operating in ways that benefit society and the environment

CSR involves businesses taking responsibility for their impact on society, the environment, and communities beyond just financial performance.

Which ethical theory holds that the morality of an action is determined by its outcomes or consequences?

Answer: Consequentialism

Consequentialism evaluates the morality of actions based on their results, with the most ethical choice being the one producing the best outcomes.