Business ethics
Key Terms:
Capitalism: 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
Shareholder: a person who has invested money in a business in return for a
share of the profits
Corporate social responsibility: a sense that businesses have wider
responsibilities than simply to their shareholders, including the communities
they live and work in and to the environment
Whistle-blowing: when an employee discloses wrongdoing to the employer or
the public
Globalisation: the integration of economies, industries, markets, cultures and
policymaking around the world
Stakeholder: a person who is affected by or involved in some form of
relationship with a business
Consumerism: a set of social beliefs that put a high value on acquiring material
things
Key Terms:
Capitalism: 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
Shareholder: a person who has invested money in a business in return for a
share of the profits
Corporate social responsibility: a sense that businesses have wider
responsibilities than simply to their shareholders, including the communities
they live and work in and to the environment
Whistle-blowing: when an employee discloses wrongdoing to the employer or
the public
Globalisation: the integration of economies, industries, markets, cultures and
policymaking around the world
Stakeholder: a person who is affected by or involved in some form of
relationship with a business
Consumerism: a set of social beliefs that put a high value on acquiring material
things
