1.2 Integrity in Business

Question 1

Integrity

Answer 1

refers to the appropriateness of a corporation’s behaviour and its adherence to moral guidelines acceptable to society such as honesty, fairness, and justice.

acting with integrity means both acting in accordance with one’s highest self-accepted norms of behaviour and imposing on oneself the norms demanded by ethics and morality

Question 2

Ethics of Business

Answer 2

rules, standards, codes, or principles that provide guidance for morally right behaviour and truthfulness in specific situations.

Question 3

Stakeholder

Answer 3

an individual or group who can influence and/or is influenced by the achievement of an organization’s purpose.

Question 4

CSR

Answer 4

the way a corporation achieves a balance among its economic, social, and environmental responsibilities in its operations so as to address stakeholder expectations.

Question 5

Corporate Sustainability

Answer 5

corporate activities demonstrating the inclusion of social and environmental as well as economic responsibilities in business operations as they impact all stakeholders presently and in the future.

Question 6

Triple Bottom Line

Answer 6

Triple-E bottom line is the evaluation of a corporation’s performance according to a summary of the economic, social or ethical, and environmental value the corporation adds or destroys

*A variation is the triple-P bottom line, which is an evaluation of the corporation’s performance according to people, planet and profits.

Question 7

Corporate Citizenship

Answer 7

a corporation demonstrating that it takes into account its role in and complete impact on society and the environment as well as its economic influence.

Question 8

Responsible Corporation

Answer 8

A business undertaking that responds to social, ethical, and environmental responsibilities in addition to its economic obligations.