chapter 5 lists

Question 1

what are the 8 things that make up business ethics?

Answer 1

behavior
principle
trust
responsibility
relationship
reliability
choice
morality

Question 2

what are the 5 ways to act ethical in business?

Answer 2

being honest
obeying laws and regulations
doing no harm to others
competing fairly
putting companies intrest above your own

Question 3

what are 6 unethical business activities?

Answer 3

taking things that don’t belong to you
lying
hiding information
taking unfair advantage
committing improper personal behaviour
abusing power

Question 4

what are the 3 ethical checklist questions?

Answer 4

is my proposed action legal
is it balanced
how will it make me feel about myself

Question 5

what are three ways to set ethical standards?

Answer 5

leading by example
provide ethics training program
establish formal codes of ethics

Question 6

what are 6 benefits derived from exercising ethics?

Answer 6

enhanced reputation
customer trust and loyalty
employee engagement and retention
risk mitigation
improved investor relations/confidence
better relationships with stakeholders

Question 7

what are the six steps to improve business ethics?

Answer 7

top management support

expectations begin at the top of the organization

ethics imbedded in training

ethics office set up

external stakeholders informed

enforcement

Question 8

what are the four ways to measure a companies social performance?

Answer 8

corporate philanthropy
strategic philanthropy
corporate social initiatives
corporate social responsibility

Question 9

what are 7 CSR core values?

Answer 9

accountability
respect
social impact
sustainability
philanthropy
integrity
kindness

Question 10

what are the 4 benefits of CSR

Answer 10

enhanced reputation and brand image

improved relationships with stakeholders

open access to increased funding/ investing

better alignment with customer and employee values

Question 11

what is the four part responsibility framework for CSR?

Answer 11

philanthropic responsibilities
ethical responsibilities
legal responsibilities
economic responsibilities

Question 12

what are the four part definitional framework for CSR in order from bottom to top?

Answer 12

economic responsibilities
legal responsibilities
ethical responsibilities
philanthropic responsibilities

Question 13

what are the two approaches to corporate responsibility in the 21st century?

Answer 13

strategic approach
pluralist approach

Question 14

what are the five key stake holders that corporations are responsible for?

Answer 14

investors
customers
communities
environment
employees

Question 15

what are the four basic rights consumers have?

Answer 15

the right to safety
the right to be informed
the right to choose
the right to be heard

Question 16

what are the 3 reasons why it is important for a company to establish a culture of integrity?

Answer 16

to prevent anyone from breaking any rules

make sure employees do not cut corners due to stress and pressure

minimize the opportunity for unethical behaviour

Question 17

what are six responsibilities businesses have to employees?

Answer 17

create jobs if they want to grow

ensure that hardwork and talent are fairly rewarded

hope of a better future through upward mobility

safe working environment that is free of all forms of discrimination

provide job security whenever possible

empowerment to an employees self worth

Question 18

what is one of a businesses responsibility to society?

Answer 18

to create new wealth which is disbursed to employees, suppliers, shareholders and other stakeholders

Question 19

what is the one business responsibility to the environment?

Answer 19

to slow the erosion of the worlds natural resources