chapter two

Question 1

ethics

Answer 1

the study of right and wrong and of the morality of the choices individuals make

Question 2

business ethics

Answer 2

the application of moral standards to business situations

Question 3

plagiarism

Answer 3

knowingly taking someone else’s words, ideas, or other original material without acknowledging the source

Question 4

Sarbanes-Oxley Act of 2002

Answer 4

provides new legal protection for employees who report corporate misconduct

Question 5

code of ethics

Answer 5

a guide to acceptable and ethical behavior as defined by the organization

Question 6

whistle-blowing

Answer 6

informing the press or government officials about unethical practices within one’s organization

Question 7

social responsibility

Answer 7

the recognition that business activities have an impact on society and the consideration of that impact in business decision making

Question 8

corporate citizenship

Answer 8

adopting a strategic approach to fulfilling economic, ethical, environmental, and social responsibilities

Question 9

caveat emptor

Answer 9

latin phrase for “let the buyer beware”

Question 10

economic model of social responsibility

Answer 10

the view that society is left alone to product and market profitable products that society needs

Question 11

socioeconomic model of social responsibility

Answer 11

the concept that business should emphasize not only profits but also the impact of its decisions on society

Question 12

consumerism

Answer 12

all activities undertaken to protect the rights of consumers

Question 13

minority

Answer 13

a racial, religious, political, national, or other group regarded as different from the larger group of which it is a part and that is often singled out for unfavorable

Question 14

affirmative action program

Answer 14

a plan designed to increase the number of minority employees at all levels within an organization

Question 15

equal employment opportunity commission (EEOC)

Answer 15

a government agency with the power to investigate complaints of employment discrimination and the power to sue firms that practice it

Question 16

hard-core unemployed

Answer 16

workers with little education or vocational training and a long history of unemployment

Question 17

pollution

Answer 17

the contamination of water, air, or land through the actions of people in an industrialized society

Question 18

recycling

Answer 18

converting used materials into new products or components for new products in order to prevent their unnecessary disposal

Question 19

green marketing

Answer 19

the process of creating, marketing, delivering, and promoting products that are environmentally safe

Question 20

social audit

Answer 20

a comprehensive report of what an organization has done and is doing with regard to social issues that affect it