Chapter 4: Corporate social responsibility, ethics and sustainability

Question 1

Corporate social responsibility

Answer 1

Managerial obligation to take action that protects and improves both the welfare of society as a whole and interests of the organization

Question 2

Davis model of corporate social responsibility

Answer 2

Social responsibility arises from social power. Business institutions as citizens have the responsibility to act ethically and improve societal problems and will in turn become more profitable

Question 3

Ethics

Answer 3

Principles by which people distinguish what is morally right

Question 4

Code of ethics

Answer 4

Organization’s written statement of values and rules for ethical behavior

Question 5

United nations global compact

Answer 5

principles of global citizenship against extortion/bribery

Question 6

Coca Cola’s code of ethics

Answer 6

Ensure people understand their responsibilities under the code, feel comfortable talking about them, never encourage employees to achieve business results at expense of code

Question 7

GE citizenship

Answer 7

“Spirit and the letter” policy document. Non-negotiable expectation

Question 8

Sarbanes- oxely act

Answer 8

protects whistleblowers from retaliation from employers

Question 9

Sustainability

Answer 9

Organizations ability to meet its needs without compromising the ability of future generations to meet theirs

Question 10

Whistleblower

Answer 10

Someone who exposes violations of ethics/law