Chapter 3

Question 1

Ethics

Answer 1

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

Question 2

component lifestyle

Answer 2

a lifestyle made up of a complex set of interests, needs, and choices

Question 3

demography

Answer 3

the study of people’s vital statistics, such as their age, gender, race, and ethnicity, and location

Question 4

generation z

Answer 4

canadians born from the late 1990s onward

Question 5

generation y

Answer 5

canadians born between about 1977 and 1997

Question 6

generation x

Answer 6

canadians born between 1964 and about 1977

Question 7

baby boomers

Answer 7

canadians born between 1946 and 1964

Question 8

multiculturalism

Answer 8

the fundamental belief that all citizens are equal regardless of their racial or ethnic backgrounds

Question 9

social responsibility

Answer 9

the concern of businesses for the welfare of society as a whole; consists of obligations beyond those required by law or contracts

Question 10

neoliberalism

Answer 10

a set of economic policies that believes that the economy (and therefore social policy) should be market-driven, not government driven

Question 11

stakeholders

Answer 11

individuals, groups, or organizations to whom a business has a responsibility: employees, customers, suppliers, investors, and the general public

Question 12

social investing

Answer 12

the practice of limiting investments to securities of companies that act in accordance with the investor’s beliefs about ethical and social responsibility

Question 13

corporate philanthropy

Answer 13

the practice of charitable giving by corporations; includes contributing cash, donating equipment and products, and supporting the volunteer efforts of company employees

Question 14

corporate governance

Answer 14

the way in which an organization is governed, directed, and administered

Question 15

utilitarianism

Answer 15

a philosophy that focuses on the consequences of an action to determine whether it is right or wrong, and holds that an action that affects the majority adversely is morally wrong

Question 16

canadian charter of rights and freedoms

Answer 16

legislation that guarantees the rights and freedoms of canadians

Question 17

justice

Answer 17

what is considered fair according to the prevailing standards of society; in the 21st century, an equitable distribution of the burdens and rewards that a society has to offer

Question 18

preconventional ethics

Answer 18

a stage in the ethical development of individuals in which people behave in a childlike manner and make ethical decisions in a calculating, self-centered, selfish way, based on the possibility of immediate punishment or reward; also known as self-centered ethics

Question 19

conventional ethics

Answer 19

the second stage in the ethical development of individuals in which people move from an egocentric viewpoint to consider the expectations of an organization or society; also known as social ethics

Question 20

postconventional ethics

Answer 20

the third stage in the ethical development of individuals in which people adhere to the ethical standards of a mature adult and are less concerned about how others view their behavior than about how they will judge themselves in the long run; also known as principled ethics

Question 21

code of ethics

Answer 21

a set of guidelines prepared by a company to provide its employees with the knowledge of what the company expects in terms of their responsibilities and behavior toward fellow employees, customers, and suppliers

Question 22

whistleblower

Answer 22

an employee, a former employee, or and other member of an organization who reports misconduct by others in the organization to those who have the power to take corrective action

Question 23

strategic giving

Answer 23

the practice of tying philanthropy closely to the corporate mission or goals and targeting donations to regions where a company operates