Ethics vocabulary and modal verbs: answer key
English for Professional Purposes
Vocabulary Definitions
Integrity: Adhering consistently to strong moral and ethical principles, even when it may be difficult or disadvantageous. In business, it involves honesty, trustworthiness and maintaining ethical standards in all operations.
Transparency: The practice of being open, honest and clear in communications, decisions and actions. It involves sharing information with stakeholders in a way that is accessible, timely and accurate.
Accountability: Taking responsibility for one’s actions, decisions and their consequences. In a business context, it means being answerable to stakeholders for the company’s activities and outcomes.
Fairness: Treating people equitably, without favouritism or discrimination, and ensuring that processes and outcomes are just. In business, this applies to dealings with employees, customers, suppliers and other stakeholders.
Compliance: Adhering to relevant laws, regulations, standards and ethical practices applicable to a business or industry. It involves following both the letter and spirit of rules designed to govern business conduct.
Sustainability: Operating in a way that meets present needs without compromising the ability of future generations to meet their own needs. It encompasses environmental, social and economic considerations in business operations.
Corporate Social Responsibility (CSR): A business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. It involves voluntary actions that go beyond legal obligations.
Conflict of interest: A situation where a person or organisation has competing interests or loyalties which might impair their ability to make impartial decisions. In business, it occurs when personal interests potentially clash with professional duties.
Bribery: Offering, giving, receiving or soliciting something of value to influence the actions of an official or other person in a position of trust. It undermines fair business practices and is illegal in most jurisdictions.
Corruption: Dishonest or fraudulent conduct by those in power, typically involving bribery or the abuse of position for personal gain. In business, it distorts markets and damages trust in institutions.
Insider trading: Trading in a company’s securities based on material, non-public information about the company. It’s illegal because it gives those with inside knowledge an unfair advantage over other investors.
Whistleblower: An individual who exposes information or activities that are deemed illegal, unethical or incorrect within an organisation. Many countries have laws protecting whistleblowers from retaliation.
Stakeholders: Individuals or groups who have an interest in or are affected by an organisation’s actions, including employees, customers, suppliers, shareholders, communities and the environment.
Ethical dilemma: A situation where there is no clear ‘right’ answer and one must choose between options that may involve compromising one ethical principle to uphold another. These situations often involve complex trade-offs.
Code of ethics: A formal statement of an organisation’s values, principles and ethical guidelines. It provides a framework for decision-making and expected behaviour within the organisation.
Ethical leadership: Leading by example and actively promoting ethical conduct through personal actions and interpersonal relationships. Ethical leaders set high standards, communicate about ethics and hold themselves and others accountable.
Corporate culture: The shared values, attitudes, standards and beliefs that characterise an organisation and define its nature. It influences how individuals within the organisation interact and perform their work.
Due diligence: The reasonable steps taken to satisfy legal requirements or to identify risks before entering into an agreement or conducting business. It’s particularly important in mergers, acquisitions and investments.
Risk assessment: The systematic process of evaluating potential risks that may be involved in a business activity. It helps organisations identify threats and implement controls to mitigate them.
Mitigation: Taking action to reduce the severity, seriousness or painful consequences of an event or decision. In risk management, it involves implementing strategies to minimise identified risks.
Modal verbs for Ethics
Maya must terminate her relationship with the supplier that engages in environmentally harmful practices immediately.
Maya should propose a phased approach to implementing fair-trade sourcing that balances ethical commitments with financial constraints.
Maya could expand her search to include regional suppliers while building relationships with local farmers interested in scaling up their operations.
Maya ought to conduct customer research to determine if her clientele would be willing to pay slightly higher prices for ethically sourced products.
Maya must investigate the bribery allegations thoroughly and report any confirmed illegal activity to the appropriate authorities.
Maya might want to organise a workshop with her team to collaboratively develop an ethical framework that addresses both moral and financial considerations.
Maya should assess the competitor’s ethical track record in detail and consider whether their values align with the mission she has established for Origin Grounds.
Maya could focus on educating consumers about the true cost and value of ethical sourcing rather than directly criticising her competitors.
Maya should always prioritise long-term ethical sustainability over short-term financial gains when facing difficult business decisions.
Maya could start by conducting a simple food waste audit to identify where the most significant waste is occurring in her café operations.
Maya ought to develop and implement a robust supplier vetting process to ensure all future partners meet her ethical standards.
Maya should publish an annual impact report detailing specific actions taken to uphold ethical commitments and their measurable outcomes.
Maya might want to create visual storytelling in her café that illustrates the journey of her sustainably sourced products from farm to table.
Maya should establish an ethics committee or advisory board that can help identify potential issues before they become problematic.
Maya could invite the customer to participate in a transparent discussion about her sourcing practices and the genuine costs associated with ethical business operations.