H Flashcards
What is the relationship between good ethics and business in strategic management?
Good ethics is a prerequisite for good business.
Why are whistle-blowing, bribery, and workplace romance considered strategic issues?
They pose ethical dilemmas and impact organizational culture.
Why are social responsibility and policy key issues in strategic planning?
They affect a firm’s reputation and stakeholder relationships.
What is the nature of environmental sustainability?
It focuses on meeting present needs without compromising future generations.
Why is animal welfare a strategic issue for firms?
It influences consumer perceptions and can affect marketability.
Fill in the blank: Business ethics can be defined as principles of conduct within organizations that guide _______.
[decision making and behavior]
True or False: Many people consider it unethical for a firm to treat animals inhumanely.
True
List the three main sections covered in the chapter.
- Business ethics
- Social responsibility
- Environmental sustainability
What does corporate responsibility refer to?
Actions taken by a company to address its impact on society.
Fill in the blank: Good business ethics can lead to _______ in strategic management.
[better decision making]
