Chapter 2

Question 1

Ethics

Answer 1

a set of moral standards for judging whether something is right or wrong

Question 2

Ethical Issue

Answer 2

a situation where someone must choose between a set of actions that may be ethical or unethical

Question 3

Justice

Answer 3

fair/impartial distribution of the burdens & rewards that society has to offer

Question 4

Utilitarianism

Answer 4

seeks the best consequence on an action taken by a person or organization

Question 5

Deontology

Answer 5

people should meet their obligations & duties when analyzing an ethical dilemma

Question 6

Code of Ethics

Answer 6

provides employees with the knowledge of what their expects in terms of responsibilities & behavior towards fellow employees, customers, & suppliers

Question 7

Corporate Social Responsibility

Answer 7

a business’ concern for the welfare of society as a whole, obligations beyond those required by law/union contracts, voluntary

Question 8

Profits

Answer 8

economic responsibility

Question 9

Obey the Law

Answer 9

legal responsibility

Question 10

Right, Just, & Fair

Answer 10

ethical responsibility

Question 11

Good Corporate Citizen

Answer 11

philanthropic responsibility

Question 12

Stakeholders

Answer 12

individuals/groups to whom businesses have a responsibility such as employees, consumers, the general public, and investors

Question 13

Certified Benefit Corporations - B Corps

Answer 13

meet the highest standards of social & environmental performance, public transparency, & legal accountability & strive to use the power of business to solve social & environmental problems via an impact assessment that rates each company on a possible score of 200 points

Question 14

Social Investing

Answer 14

investors limiting their investments to securities that coincide with their beliefs about ethical & social responsibility