Chapter 2

Question 1

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

Answer 1

Ethics

Question 2

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

Answer 2

Corporate Social Responsibility

Question 3

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

Answer 3

Corporate Sustainability

Question 4

Ascertain social, cultural, legal, and other economic limitations and safeguard the interest of parties involved.

Answer 4

Business Ethics

Question 5

Emphasizes moral and social values like consumer protection, welfare, fair business practices, and service to society

Answer 5

Business Ethics

Question 6

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 this firm

Answer 6

Corporate Responsibility

Question 7

Making profits should not be at the cost of society

Answer 7

Social Responsibility

Question 8

Employees are expected to act responsibly with honesty, diligence, punctuality, and willingness to perform excepted duties

Answer 8

Personal Responsibility

Question 9

Includes customer-privacy, personal information, and intellectual property fair practices

Answer 9

Technology Ethics

Question 10

Favoritism is highly unethical. Every individual possesses certain personal bias. But at the workplace, personal beliefs and biases should not affect decision-making

Answer 10

Fairness

Question 11

Business should maintain this in business practices and financial reports

Answer 11

Trustworthiness and Transparency

Question 12

To proactively seek opportunities to make a positive contribution to society beyond profitability, compliance, and business ethics

Answer 12

Discretionary Responsibilities

Question 13

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

Answer 13

Ethical Responsibilities

Question 14

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

Answer 14

Legal Responsibilities

Question 15

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

Answer 15

Economic Responsibilities