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Social Responsibility of Business and Government
Chapter 4 Vocabulary and Concepts
25
Business
11th Grade
10/20/2011

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Term
What are some roles of the government?
Definition
providing services for citizens; protecting citizens, consumers, businesses, and workers; regulating utilities and promoting competition, providing information, buting goods/services
Term
4 Areas of Concern for Social Responsibility
Definition
protection of environment, workplace diversity, job safety, employee wellness
Term
Conservation
Definition
saving the scarce natural resources
Term
Non-Renewable Resources
Definition
natural resource that cannot be replace when used up
Term
Pollution 
Definition
the environment is tainted by the by-products of human actions
Term
Environmental Protection Agency (EPA)
Definition
monitors and enforces federal standards for water and air quality
Term
What are some groups that make up the workplace diversity?
Definition
women, elders, physically disabled, and ethnic groups
Term
Americans with Disabilities Act
Definition
caused major improvements toward accommodating workers who are physically challenged 
Term
Occupational Safety and Health Administration (OSHA)
Definition
set safety standards
Term
What do businesses do to improve workers' health?
Definition
stop-smoking seminars, counseling, weight loss sessions, fitness classes, sponsored sports teams
Term
Benefits of being Socially Responsible
Definition
more justice, good public relations, government doesn't step in, improved quality of life, increased awareness of social issues 
Term
Costs of being Socially Responsible
Definition
all projects cost money and the company must still make a profit
Term
Business Ethics 
Definition
rules about how businesses and their employees should behave
Term
Code of Ethics
Definition
set of rules for guiding the actions of employees or member of an organization
Term
Conflict of Interest
Definition
an action by a company or individual that results in an unfair benefit
Term
What are the 3 Levels of Government?
Definition
Federal, State, and Local
Term
Interstate Commerce
Definition
business dealings involving companies in more than one state
Term
Intrastate Commerce 
Definition
business dealing involving companies that do business in only one state
Term
Worker Protection
Definition
workers have a right to safe working conditions
Term
Contract
Definition
agreement to exchange goods/services for something of value
Term
4 Provisions in Contract
Definition
Agreement, Competent Parties, Consideration, Legality 
Term
Agreement
Definition
offer must be made and must be accepted
Term
Competent Parties
Definition
must be legal age and mentally competent
Term
Consideration
Definition
something of measureable value must be exchanged
Term
Legality
Definition
product/service must be legal 
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