ethics An individual's personal beliefs regarding what is right and wrong or good and bad

ethical behavior Behavior that conforms to generally accepted social norms

managerial ethics Standards of behavior that guide individual managers in their work

unethical behavior Behavior that does not conform to generally accepted social norms

code of ethics A formal, written statement of the values and ethical standards that guide a firm's actions

social responsibility The set of obligations an organization has to protect and enhance the societal context in which it functions

organizational stakeholders People and organizations who are directly affected by the behaviors of an organization and who have a stake in its performance

obstructionist stance An approach to social responsibility in which firms do as little as possible to solve social or environmental problems

defensive stance A social responsibility stance in which an organization does everything that is required of it legally but nothing more

accommodative stance A social responsibility stance in which an organization meets its basic legal and ethical obligations and also goes beyond social obligation in selected cases

proactive stance A social responsibility stance in which an organization views itself as a citizen in a society and proactively seeks opportunities to contribute to that society

regulation Government's attempts to influence business by establishing laws and rules that dictate what businesses can and cannot do in prescribed areas

lobbying The use of persons or groups to formally represent a company or group of companies before political bodies to influence legislation

political action committee (PAC) An organization created to solicit and distribute money to political candidates

legal compliance The extent to which an organization complies with local, state, federal, and international laws

ethical compliance The extent to which an organization and its members follow basic ethical standards of behavior

philanthropic giving Awarding funds or gifts to charities or worthy causes

whistle blowing The disclosing by an employee of illegal or unethical conduct on the part of others within the organization

corporate social audit A formal and thorough analysis of the effectiveness of a firm's social performance