Ethical Decision Making in Business

The quality of being just, unbiased, and fair. It often overlaps with concepts of justice, equity, and equality.

A situation where an individual or group has to choose between actions that all have negative outcomes. There is no truly right choice; all options are considered unethical.

A problem or situation that requires a decision based on what is morally right or wrong.

The act of stealing time or resources from an employer. Examples include late arrivals, early departures, extended lunch breaks, and using company resources for personal purposes.

A situation where an individual or organization has to decide between fairness and efficiency. It's the balance between treating everyone equally and maximizing productivity.

The ability to recognize ethical issues in a situation. It's the first step towards making ethical decisions.

A secret agreement between two or more parties intended to mislead or deceive others for personal gain.

A fundamental principle of ethical conduct, encompassing honesty, fairness, and trustworthiness. In a business context, it indicates following laws and regulations, maintaining transparent and ethical relationships.

A critical element of ethical behavior, referring to being truthful and trustworthy. Transparency and fairness are key principles of honesty in business.

The challenge businesses face when it comes to defining and upholding ethical standards. This involves balancing personal values with business imperatives, and determining who has the authority to set ethical rules.

Situations where someone's actions or decisions can affect their own personal interests and lead to a conflict with their professional obligations.

An attempt to gain unfair advantage or confidential information by using unethical or illegal tactics. It can involve misrepresentation, deception, or impersonation.

Any behavior intended to intimidate, threaten, or harass someone at work. This can include physical threats, false accusations, insults, yelling, and more. It creates a hostile and uncomfortable work environment.

A type of lie where the person intentionally creates a false perception or belief by using words or actions to deceive the receiver. This often involves technical explanations the person knows the receiver won't understand.

A type of lie where someone intentionally omits important information that might change someone's perception, intention, or action. This could involve hiding problems, safety risks, or negative aspects of a company or product.

The act of offering something of value (often money) to someone in authority in exchange for an illegal advantage or favorable treatment. This is a serious ethical violation.

Payments made to obtain or retain business or obtain improper advantages. While not considered bribery in the US, they can still be unethical and raise concerns about corruption.

A practice where a customer pretends to buy an item, wears it, and then returns it for a full refund. This is a form of fraud used to get something for free.

Occurs when someone buys or sells company stock using information that is not yet public, giving them an unfair advantage in the market.

A risky practice where financial institutions create and use complex financial instruments without fully understanding the potential risks involved. This lack of understanding can lead to significant losses.

The illegal act of deceiving a retailer during the return process by replacing the item with something else or returning an item that was not legitimately purchased.

The practice of visiting a physical store to examine products before buying them online at a lower price.

The failure of an individual or organization to recognize ethical issues in a situation. It's the first step towards making ethical decisions.

Problems that can emerge from ethical issues as societal values change.

Understanding and taking responsibility for ethical risks is essential to prevent situations like the global financial crisis.

The importance or relevance of a situation or decision for individuals, teams, or organizations. It involves how much an individual, work group, or organization cares about an issue.

A thought experiment where individuals make decisions without knowing their future social standing. Designed to create fair and impartial rules for society.

A concept where everyone has basic rights that don't infringe on the rights of others. Ensures equality and fairness.

A principle that argues social and economic differences should benefit the least fortunate members of society. Aims to reduce disparity.

A system that passively monitors for early warnings about potential risks and opportunities. It helps identify emerging trends and threats.

A corporate intelligence model dedicated to supporting top management in strategic decision-making. It involves a deeper level of analysis and insights.

Discrimination based on characteristics like race, gender, religion, sexual orientation, or disability. It's illegal in the United States.

A federal agency in the United States that protects against workplace discrimination.

A law that prohibits hiring practices that discriminate against people aged 40 and older. It also prohibits mandatory retirement before age 70.

Programs designed to recruit, hire, train, and promote individuals from groups that have historically been discriminated against, such as women or people of color.

Any repeated, unwanted behavior of a sexual nature in the workplace. It can create a hostile environment for the victim.

A hostile environment created by unwanted, severe, and offensive sexual conduct. This can affect an employee's working conditions.

A personal relationship between colleagues that can create conflicts of interest and can be considered unethical in a professional environment.