Business is a minefield of ethics, especially with different cultures having different ideas of what to do. Take a look at our Teaching Business Ethics English Vocabulary and see how that can help you.
Beginner
| Word | Meaning | Example Sentence |
|---|---|---|
| Honest | Truthful and sincere. | It’s important to be honest in all your dealings. |
| Fair | Impartial and just. | The company strives to provide fair treatment to all employees. |
| Right | Morally good or correct. | Doing the right thing is not always easy. |
| Wrong | Morally incorrect. | Stealing is always wrong. |
| Good | Morally excellent. | She is a good person who always tries to help others. |
| Bad | Morally unacceptable. | Lying is a bad habit. |
| Trust | Confidence in someone’s reliability. | Building trust with clients is crucial. |
| Respect | A feeling of deep admiration for someone. | We should always respect our colleagues. |
| Care | To feel concern or interest. | Companies should care about their employees’ well-being. |
| Help | To give assistance or support. | It’s important to help those in need. |
Intermediate Teaching Business Ethics English
| Word | Meaning | Example Sentence |
|---|---|---|
| Integrity | Adherence to moral principles. | Integrity is essential for ethical leadership. |
| Transparency | Openness and accountability. | The company believes in full transparency in its financial reporting. |
| Responsibility | Being accountable for something. | Businesses have a social responsibility to protect the environment. |
| Accountability | The state of being answerable for one’s actions. | Managers must be held accountable for their decisions. |
| Code of Conduct | A set of rules outlining ethical behavior. | All employees must adhere to the company’s code of conduct. |
| Conflict of Interest | A situation where personal gain could improperly influence professional duties. | He recused himself from the vote due to a conflict of interest. |
| Dilemma | A difficult situation requiring a choice between two options. | She faced an ethical dilemma when she discovered the error. |
| Whistleblower | A person who exposes wrongdoing within an organization. | The whistleblower played a crucial role in uncovering the scandal. |
| Compliance | Adhering to rules and regulations. | The company is committed to legal and regulatory compliance. |
| Stakeholder | A person or group with an interest in a business. | Companies must consider the interests of all their stakeholders. |
Advanced
| Word | Meaning | Example Sentence |
|---|---|---|
| Utilitarianism | The ethical doctrine that the greatest good should be sought for the greatest number. | Utilitarianism is often used as a framework for ethical decision-making. |
| Deontology | The study of ethical duty and obligations. | Deontology emphasizes the importance of following moral rules, regardless of consequences. |
| Virtue Ethics | An approach to ethics that emphasizes character and moral virtues. | Virtue ethics focuses on developing good character traits. |
| Corporate Social Responsibility (CSR) | A company’s commitment to operating in an ethical and responsible manner. | Many companies now have comprehensive CSR programs. |
| Sustainability | Meeting the needs of the present without compromising the ability of future generations to meet their own needs. | Environmental sustainability1 is a growing concern for businesses. |
| Ethical Framework | A set of principles or guidelines used to make ethical decisions. | The company’s ethical framework guides its actions in complex situations. |
| Moral Hazard | The risk that one party will act in a way that harms another because they don’t bear the full consequences of their actions. | Insurance can sometimes create a moral hazard. |
| Due Diligence | Thorough investigation before making a decision. | The company conducted due diligence before acquiring the new business. |
| Fiduciary Duty | A legal obligation to act in the best interests of another party. | Financial advisors have a fiduciary duty to their clients. |
| Social Audit | An evaluation of a company’s social performance. | The company undergoes a regular social audit to assess its impact on the community. |
We hope you enjoyed our Teaching Business Ethics English Vocabulary
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