Unit 17: Vocabulary

Please study the 21 vocabulary terms below. Then press the Mark Complete button to continue.
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accountability
having responsibility for an action, as well as the obligation of justifying and if needed correcting it
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The general lack of accountability for poor business decisions caused investors to become fearful and pull out.
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bribe
to dishonestly persuade somebody to act in one's favor by giving them money or gifts
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He found out that his company had been bribing customs officials for years in order to advance the passage of goods.
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carbon footprint
the amount of greenhouse gases released as a consequence of an individual's actions
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Many people don't realize the seemingly innocent actions that dramatically raise their carbon footprint, such as frequent flying, buying fast fashion, eating meat every day, etc.
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compliance
acting in line with a rule or guideline
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It's the compliance officer's job to make sure that all company activity is in accordance with the law.
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confidential
information that is meant to be kept private or secret
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The terms of his contract were confidential, so he wasn't allowed to talk to outsiders about it.
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consequence
an effect of an action or occurrence, typically negative
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He violated company policy and was fired as a consequence.
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CSR (Corporate Social Responsibility)
the idea that a company should positively contribute to societal and environmental issues
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With an increase in awareness of organizations' roles in society came an increase in the importance of CSR, with companies launching more environmentally friendly products, etc.
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cultural appropriation
an unacknowledged, disrespectful, stereotypical, or exploitative adoption of elements belonging to a culture one is not a part of
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A coworker dressed up in a Native American costume for our office Halloween party and was swiftly called out for cultural appropriation.
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dilemma
a situation where a difficult choice has to be made, especially when all options are not desirable
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The CEO found himself in a dilemma when he faced a choice between two business decisions, one favoring the shareholders at the expense of the employees, and the other benefiting the employees but disfavoring the shareholders.
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discrimination
the unjust judgement and treatment of others based on their (perceived) belonging to a certain group or category, such as race, gender, religion, sexual orientation, etc.
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Firing an expectant mother because of her pregnancy is considered discrimination and prohibited by law.
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equality
all members of society or a group having the same status, rights, and opportunities, and are treated fairly and in the same way
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Every office should provide a safe and inclusive work environment in order to ensure equality.
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ethical
following moral values, dealing with right and wrong
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Today more than ever before, ethical decision-making is a vital part of business, and can actually lead to more success, as ethics have a big impact on company image.
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glass ceiling
an intangible barrier or hurdles in an organization that prevent women or members of minority groups from advancing to higher level positions, despite their qualifications and achievements
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There are several factors that contribute to the glass ceiling beyond corporations refusing to promote minorities, such as different wages for comparable work, work environments that are incompatible with family, etc.
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idealistic
the unrealistic belief in and striving for perfection
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Some call the demand of shorter work hours and longer weekends idealistic, but studies actually show that more off time raises worker morale and productivity.
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information privacy
relating to the protection of personal data that is collected by organizations
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Authentication, encryption, and data masking are effective steps to protect information privacy.
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integrity
having and consistently adhering to strong moral principles, showing backbone
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After openly criticizing his supervisor's decision to lay off 10% of staff, he thought he would be fired, but was instead promoted for showing integrity and grit.
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morality
a code of conduct, or set of standards that determines what is acceptable or even admirable within a social group, referring to both actions and character
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When doing business across borders it is important to remember that morality and ethical standards vary across cultures, and what is considered acceptable at home may not be okay abroad, or vice versa.
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nepotism
the practice of favoring family or friends in a professional context
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They say he only got the job because of nepotism, not because he was the person most qualified.
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product transparency
disclosing in depth information about a commodity, such as ingredients manufacturing details, environmental impact, etc.
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With consumers demanding product transparency of brands, some companies have used it for marketing purposes, advertising their products to be especially environmentally friendly or similar.
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shareholder
one who owns a part of a company
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I am invited to Apple's annual shareholder meeting, as I bought company stock last year.
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stakeholder
one with a vested interest in a company, who impacts or is impacted by the company's performance
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A company typically has many stakeholders, including investors, employees, suppliers, customers, etc.
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