DEMONSTRATING ETHICAL BEHAVIOR AND SOCIAL RESPONSIBILITY

Question 0

ethos means?

Answer 0

“A Way of life”

Question 1

The root of the word “ethics” is?

Answer 1

Ethos

Question 2

What are the five ethical perspectives that one can use as a moral platform for behaving ethically from situation to situation?

Answer 2

utilitarian approach,
the rights approach,
 the fairness or justice approach, 
the common good approach, 
and the virtue approach

Question 3

What are the Eight principles for making ethical decisions?

Answer 3

1. Concern for the well-being of others
2. Concern for the autonomy of others
3. Trustworthiness and honesty
4. Willing compliance with the law, save when civil disobedience is deemed the more ethical choice
5. Basic justice and fairness
6. Refusing to take unfair advantage
7. Benevolence (following the Golden Rule)
8. Doing no harm to others or to our natural environment

Question 4

What are the five-step process for dealing with an ethical dilemma?

Answer 4

1. Recognize an ethical issue when it arises.(Beyond the letter of the law, what’s the spirit of the law? Whom will a conflict impact?) 2.Gather the facts. (Look at all sides of an issue.)
2. Evaluate alternative actions, using one or more of the five ethical perspectives.
3. Act on your decision, perhaps with advice from friends or mentors.
4. Reflect on your decision.(Apply hindsight to consider what may have been done differently.)

Question 5

What are the two main kinds of corporate ethics codes?

Answer 5

1. Compliance-based ethics codesare focused on preventing unlawful behavior by way of increased control over personnel and punishing wrongdoers. In effect, the focus is on avoiding punishment that might be meted out by regulatory agencies or customer or supplier blowback.
2. Integrity-based ethics codes focus on clearly defining the company’s code and creating a corporate culture or work environment that encourages ethical behavior. The idea that employees are responsible for the organization’s activities is emphasized, and it’s understood that leaders should lead by example

Question 6

The Sarbanes-Oxley act is also known as?

Answer 6

Corporate and Criminal Fraud Accountability Act

Question 7

What does the Sarbanes-Oxley act do?

Answer 7

• Corporate whistleblowers are afforded greater (but not exhaustive) protection from retaliation.
• New penalties are established to make boards of directors, managers, and accounting firms liable for inaccurate or fraudulent financial reporting.
• A new public agency was formed to oversee, audit, and regulate accounting firms. Does Sarbanes-Oxley deliver as

Question 8

What is Corporate philanthropy?

Answer 8

Corporate philanthropy is the extent of a company’s expenditures on programs or projects aimed at the public good. Beyond substantial charitable donations, nonprofit organizations are often founded by for-profit companies. McDonald’s Ronald McDonald Houses for critically ill children are an example.

Question 9

What is Corporate responsibility?

Answer 9

Corporate responsibilitycovers a broad spectrum of social concerns. Minimizing pollution, efficient energy use, the hiring of minority workers, the production of safe products, and maintenance of safe working conditions are examples.

Question 10

What is Corporate policy?

Answer 10

Corporate policy is the position a firm takes on political and social issues. Beyond your text’s discussion, you should note that most people entering business careers express their preference for allying themselves with socially responsible companies.

Question 11

Success in business requires?

Answer 11

pleasing customers

Question 12

Labor is a vital factor of?

Answer 12

Production

Question 13

Employees who demonstrate reliable levels of productivity, talent, and skill should be ___________, if accepted.

Answer 13

Promoted

Question 14

Customerscan vote with?

Answer 14

their feet and their pocketbooks by taking their business elsewhere.