If a Company Violates a Law Unknowingly There Are Usually

question 117

True/False

If a company violates a law unknowingly there are usually reduced penalties, particularly if it occurs as a result of a lapse in understanding of the ethical principles involved.

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Definitions:

Stakeholder Ethics

The moral principles and values that should guide the interactions and decisions involving all parties with an interest in an organization.

Credo

A statement of the beliefs or aims that guide someone's actions.

Final Responsibility

The ultimate accountability for an action or decision, typically held by a leader or highest authority in an organization.

Conducting Business

The act of engaging in activities that produce goods or services to satisfy consumer demand and generate profit.