Chapter 4

Question 1

Mandated boundaries

Answer 1

Externally imposed boundaries of conduct, such as laws, rules, regulations, and other requirements

Question 2

Core practices

Answer 2

Documented best practices, often encouraged by legal and regulatory forces as well as industry trade and assoications

Question 3

Better business bureau

Answer 3

Leading self-regulatory body that provides directions for managing customer disputes and reviews advertising cases

Question 4

Voluntary boundaries

Answer 4

Include the beliegs, values, and voluntary contractual obligations of a business

Question 5

Philanthropy

Answer 5

Giving back to communities and causes

Question 6

Civil law

Answer 6

Defines the rights and duties of individuals and organizations

Question 7

Criminal law

Answer 7

Not only prohibits specific actions, such as fraud, theft or securities trading violations, but also imposes fines or imprisonment as punishment for breaking the law

Question 8

Procompetitive legislation

Answer 8

Laws have been passed to prevent the establishment of monopolies, inequitable, pricing practices, and other practices that reduce or restrict competition among business

Question 9

Consumer protection law

Answer 9

Laws that protect consumers require business to provide accurate information about their goods and services and follow safety standards.

Question 10

Bureau of consumer protection

Answer 10

Protects consumers against unfair, deceptive, or fraudulent practices

Question 11

Food and drug administration

Answer 11

Federal agency of the US department of Health and Human Services that has stringent standards for approving drugs

Question 12

Title VII of the civil rights act

Answer 12

Prohibits discrimination in employment on the basis of race, sex, religion, color, or national origin

Question 13

Occupational safety and health adminstration

Answer 13

Enforces safe and healthy working conditions and makes regular surpise inspections to snure businesses maintain safe working environments

Question 14

Public company accounting oversight board

Answer 14

Monitors accounting firms auditing public corporations and establishes standards and rules for auitors in accounting firms

Question 15

Consumer financial protection bureau

Answer 15

Independent agencyu within the Federal Reserve system that regulates the offering and provision of consumer finanical products or servies under the Federal consumer financial laws.

Question 16

Cause-relating marketing

Answer 16

Ties an organization’s products directly to a social concern through a marketing program

KFC with breast cancer, pink buckets.

Question 17

Strategic Philanthropy

Answer 17

Synergistic and mutually beneficial use of an organization’s core competencies and resources to deal with key stakeholders so as to bring about organizational and societal benefits

Question 18

Social Entrepreneurship

Answer 18

When an entrepreneur founds an organization with the purpose of creating social values