Business Ethics and Corporate Social Responsibility

Question 1

are a set ofstandards that govern the conduct of a person, especially a member of a profession.

Answer 1

Ethical behavior or ethics

Question 2

follows the laws, which may change over time.

Answer 2

legal behavior

Question 3

refers to contemporary standards or values that govern the actions and behavior of individuals in the business organization and the actions of the business as a whole

Answer 3

business ethics

Question 4

Corporations and professional organizations, particularly licensing boards, will usually have a written “this” that governs standards of professional conduct expected of all in the field.

Answer 4

Code of Ethics

Question 5

is the act of giving money, goods, or other forms of compensationto a recipient in exchange for an alteration of their behavior (to the benefit/interest of the giver) that the recipient would otherwise not alter.

Answer 5

Bribery

Question 6

is a form of negotiated bribery in which a commission is paid to the bribe-taker in exchange for services rendered.

Answer 6

Kickback

Question 7

is an ethical challenge that occurs when an individual or organization is involved in multiple interests that are at odds with one another.

Answer 7

Conflict of Interest

Question 8

is a person who exposes activity that is illegal or unethical within an organization
These people take action to put an end to unethical practices after witnessing injustices in their businesses or organizations

Answer 8

Whistleblower

Question 9

is the ethical role of the corporation in society
It refers to actions that businesses take or refrain from taking based on the impact of those actions on the external environment and community

Answer 9

Corporate social responsibility