1.3 ETHICS & CORPORATE SOCIAL RESPONSIBILITIES IN IB

Question 1

What is ethics?

Answer 1

An individual’s personal standing on whether a decision, behaviour or action is right or wrong.

Question 2

What is business ethics?

Answer 2

Moral principles that guide the way a business behaves. The same principles that determine an individual’s actions also apply to business.

Question 3

What is social responsibility?

Answer 3

The set of obligation an organization undertakes to protect and enhance the society in which it functions

Question 4

Universalism

Answer 4

What is considered wrong, is always wrong for all people at all time and vice versa.

Question 5

Relativism

Answer 5

What is right is determined by what a culture or the society says right.

Question 6

Utilitarianism

Answer 6

The most ethical choice is one that will produce the greatest good for the greatest number of people.

Question 7

Islamic ethics

Answer 7

a set of universal standards of right or wrong that prescribed the acceptable and unacceptable behaviour for all aspects of human life based on the Quran and Sunnah of the Prophet s.a.w.

Question 8

Two conditions for an action to be ethical in Islam

Answer 8

1. Good intention
2. In accordance with the Syariah

Question 9

Factors influencing ethical behaviour in Islam

Answer 9

1. Legal interpretation
2. Organizational factor
3. Individual factors

Question 10

Individual factors influencing ethical behaviour in Islam

Answer 10

1. Stages of moral development
   - Reach the age of puberty
   - Stages of soul development:
   1) Ammarah
   2) Lawwamah
   3) Mutmainnah
2. Individual environment
   - family influences, peer influences, personal values and personality, life experiences, situational factor