'Business Ethics' by Stephen M. Byars, Kurt Stanberry Published by OpenStax, Sep 24, 2018, Houston, Texas
Vocabulary matching exercise by Dr Michael A. Riccioli
Match the items on the right to the items on the left.
You have a pile of cards. a) Click NEXT to see card 1 (e.g. CASH). b) Click NEXT again to see card 2 and the whole collocation CASH FLOW FORECASTS. Repeat (a) and (b) as many times as you wish. When you have memorised a pair of cards, click DELETE to make cards 1 and 2 disappear from the pile.
Access for free at https://openstax.org/books/business-ethics/pages/1-introduction
short-term perspective
a focus on the goal of maximizing periodic (i.e., quarterly and annual) profits
social contract
an implicit agreement among societal members to cooperate for social benefit; when applied specifically to a business, it suggests a company that responsibly gives back to the society that permits it to incorporate, benefiting the community at the same time that it enriches itself
stakeholders
individuals and entities affected by a business’s decisions, including customers, suppliers, investors, employees, the community, and the environment, among others
stockholder
an individual or institution that owns stock or shares in a corporation, by definition a type of stakeholder; also called shareholder
utilitarianism
a normative theory of ethics suggesting that an ethical act is the one whose consequences create the greatest good for the greatest number of people
virtue theory
a normative theory that focuses on proper conduct guided by the training we received growing up