(2) business ethics

Question 1

ethics

Answer 1

the study of the general nature of morals and of specific moral choices; moral philosophy and the rules or standards governing the conduct of the members of a profession

Question 2

morality

Answer 2

deals with what is right or wrong; the concepts and beliefs abt right or wrong are often generalized by a group so it regulates the members’ behavior

Question 3

business ethics

Answer 3

comprises principles and standards that guide behavior in the world of business

Question 4

social responsibility

Answer 4

individuals and companies must act in the best interests of their environment and society as a whole.
; defines the obligation/commitment a business assumes toward society

Question 5

CSR

Answer 5

a self-regulating business model that helps a company be socially accountable; allows companies to be conscious of the economic, social, and environmental impact they have on society

Question 6

4 dimensions of social responsibility

Answer 6

legal - businesses need to obey local, state, federal laws
ethical - behaviors/activities expected of business by society by not always codified in law
economic - businesses produce goods&services that society needs and wants at a price that can preserve business
philanthropic - behaviors and activities that society desires and business values dictate

Question 7

corporate philanthropy

Answer 7

the activities that companies voluntarily initiate to manage their impact on society; involves a cause that is attempting to solve a problem

Question 8

unethical business

Answer 8

business activities that are very profitable but are either against the law or contradicting the ethical code of certain group involved

Question 9

ESG investing

Answer 9

investing which prioritizes optimal environmental, social, and governance factors or outcomes

Question 10

impact investing

Answer 10

investments made w the intention to generate positive, measurable social and environmental impact alongside a financial return

Question 11

ethical shopper

Answer 11

a shopper who likes to help out the underdog and will support local shops rather than chainstores

Question 12

owners/shareholders

Answer 12

manage the corp. themselves or hire someone to do so; may have diff view on ethical issues - often expensive, lead to less sales