Chapter 3: Demanding Ethical and Socially Responsible Behavior Flashcards
Standards of moral behavior; that is, behavior accepted by society as right versus wrong.
Ethics
Ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers.
Compliance-based ethics codes
Ethical standards that define the organization’s guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees.
Integrity based eithics codes
A business’s concern for the welfare of society.
Corporate social responsibility (CSR)
The dimension of social responsibility that includes charitable donations.
Corporate philanthropy
Enhanced forms of corporate philanthropy directly related to the company’s competencies.
Corporate social initiatives
The dimension of social responsibility that includes everything from hiring minority workers to making safe products.
Corporate responsibility
The dimension of social responsibility that refers to the position a firm takes on social and political issues.
Corporate policy
An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends.
Insider trading
Ethical standards that define the organization’s guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees.
Integrity-based ethics codes
Ethical standards that define the organization’s guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees.
Integrity-based ethics codes
A payoff for socially conscious behavior is
new and loyal customers
Insider trading involves
investors using private company information to further their own fortunes
Which statement best describes ethical behavior in the United States?
We can find common moral values that many Americans uphold, including respect for human life, self-control, honesty, integrity, and courage.
A very critical last step in the process of establishing an ethics code is
Enforcement
Business relationships often present ethical dilemmas that are
not easily resolved
The Foreign Corrupt Practices Act deals with
bribery to obtain business
Determining what is involved for a firm to be socially responsible
varies even among those who are interested in corprate responsibility
What is an unresolved ethical issue that surrounds global trade?
Labor standards
One problem with conducting a social audit is
how to determine what should be measured and how to calculate the effect on society.
Corporate social responsibility describes the firm’s
concern for the welfare of society.
A(n) __________-based ethics code emphasizes the prevention of unlawful behavior by increasing control and penalizing wrongdoers.
compliance
Considering the potential impact on others prior to making a decision is consistent with __________ behavior.
ethical
The benefit of using ________ to communicate a business’s CSR efforts to the public is that it allows companies to reach broad and diverse groups directly in a low-cost, efficient way.
Social media
When working with international firms, U.S. businesses
expect socially responsible behavior from their business partners.
Following an ethics-based approach to decision making will normally lead to
Lower employee turnover
