Business Ethics and Social Responsibility

Question 1

What are the principles of Corporate Social Responsibility?

Answer 1

Operate in an economically, socially, and environmentally sustainable manner

CSR focuses on the company’s impact on society and the environment.

Question 2

Define business ethics.

Answer 2

Basic principles that one can apply to controversial business decisions

Business ethics encompass issues like corporate governance, insider trading, and discrimination.

Question 3

List the characteristics of ethical business leaders.

Answer 3

• Trustworthiness
• Honesty and integrity
• Respectfulness
• Consistency
• Leadership by example
• Concern for people and the future environment

These characteristics guide ethical leaders in their decision-making and interactions.

Question 4

True or False: An ethical leader is inconsistent in how they treat employees.

Answer 4

False

Ethical leaders are known for their consistency with respect to the company’s vision and treatment of employees.

Question 5

Fill in the blank: An ethical leader demonstrates _______ by showing concern for the wellbeing of everyone.

Answer 5

Concern for people and the future environment

This characteristic emphasizes the leader’s responsibility towards both people and the environment.

Question 6

What does it mean for an ethical leader to lead by example?

Answer 6

Demonstrates the behaviour they want others to follow, especially with respect to ethical behaviour

Leading by example is crucial for cultivating an ethical workplace culture.

Question 7

What is the role of honesty and integrity in ethical leadership?

Answer 7

Provides information as clearly as possible and believes in facts

Honesty and integrity build trust and credibility within the organization.