Ethic and Social Corp. Resp. Flashcards
1
Q
What is legal?
A
Laws provide a basic standard
of behavior but truly ethical
behavior goes beyond the
basics.
2
Q
What is ethical?
A
Universal Ethical Standards
are applied to a broad
spectrum of situations.
3
Q
What are ethical challenges in business?
A
- Conflict of interest: A situation where an employee
must choose between a business’s welfare and personal gain. - Honesty and Integrity: Doing what you say you will do and accepting responsibility for your mistakes.
- Loyalty vs truth: Businesspeople expect their
employees to be loyal and to act in the best interests of the company - Whistle-blowing: Employee’s disclosure to company officials, government authorities, or
the media of illegal, immoral, or unethical practices by an organization.
4
Q
What are the responsibilies to employees?
A
- Jobs that comply with legal
standards (minimum wage, holiday) - Providing equal opportunity and
diversity - Workplace safety
- Minimum wage
- Protection from sexual harassment
- Valuing employee opinions
- Providing work/life balance
5
Q
What are responsibility to customers?
A
- Respecting consumerism principals:
The right to be safe
The right to be informed
The right to choose
The right to be heard - Delivering quality products
- Avoiding planned obsolescence to shorten product life
6
Q
Responsibility to the environment?
A
- Avoiding waste of natural resources
- Pollution control
- Environmental sustainability
- Green marketing
- Humane treatment of animals
- Protection of wildlife
7
Q
Community responsibility?
A
- Corporate philanthropy (donations)
- Cause-related marketing
- Demonstrating responsibility by the way it conducts business
- Respecting the community values
8
Q
Investors responsibility?
A
- Meeting legal standards in all aspects
- Spending money wisely
- Honesty and transparency in reporting
9
Q
What is a planned obsolescence?
A
Deliberately designing products to fail in order to shorten the time between consumer repurchases
