Chapter 2 Flashcards

1
Q

The discipline dealing with what is good and bad, right and wrong, or
with moral duty and obligation.

A

Ethics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The implied, enforced, or felt obligation of managers, acting in their official capacity, to serve or protect the interests of groups other than themselves.

A

Corporate Social Responsibility

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

focuses on the possible future impact of an organization on society, including social welfare, the economy, and the environment.

A

Corporate Sustainability

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

ascertain social, cultural, legal, and other economic limitations and safeguard the interest of parties involved. Further, it emphasizes moral and social values like consumer protection, welfare, fair business practices, and service to society.

A

Business Ethics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Types of Business Ethics

A
  1. Corporate Responsibility
  2. Social Responsibility
  3. Personal Responsibility
  4. Technology Ethics
  5. Fairness
  6. Trustworthiness and transparency
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

The organization works as a separate legal entity with certain moral and ethical obligations. Such ethics safeguard the interest of all the internal and external parties associated with the firm. This includes the employees, customers, and shareholder.

A

Corporate Responsibility

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Making profits should not be at the cost of society

A

Social Responsibility

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Employees are expected to act responsibly with honesty, diligence, punctuality, and willingness to perform excepted duties. Individuals should settle dues in time and avoid criminal acts

A

Personal Responsibility

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

includes customer-privacy, personal information, and intellectual property fair practices.

A

Technology Ethics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Personal beliefs and biases should not affect decision-making. The firm has to ensure fair chances of growth and promotion for all

A

Fairness

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Carroll’s Pyramid of Corporate Social Responsibility

A
  • Discretionary Responsibilities
  • Ethical Responsibilities
  • Legal Responsibilities
  • Economic Responsibilities
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Proactively seek opportunities to make a positive contribution to society beyond profitability, compliance and business ethics. Organizations have a responsibility to understand broad stakeholder needs and to address societal concerns though their business practice

A

Discretionary Responsibilities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Requires organizations to consider social and environmental impacts of their operations and, as far as possible, to do no harm while pursuing business interests

A

Ethical Responsibilities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Requires that organizations operate within the law at all locations in which they do business.

A

Legal Responsibilities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

To deliver an acceptable return for shareholders (while contributing to local and global economies through their core business).

A

Economic Responsibilities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q
A
17
Q

Application of ethical principles to human resource relationships and activities.

A

Human Resource Ethics

18
Q

Systematic assessment of a company’s activities in terms of its social impact.

A

Social Audit