Lecture 5

Question 1

Business ethics:

Answer 1

The accepted principles of right or wrong governing the conduct of
business people

Question 2

Most common ethical issues when managing in a global context:

Answer 2

• Employment practices
• Environmental pollution
• Human rights
• Corruption
• Moral obligations (Good Corporate Citizenship)

Question 3

“noblesse oblige” –

Answer 3

large sucessful businesses need to give something back to the societies that
made their success possible

Question 4

Corporate Responsibility (CR) is

Answer 4

a concept whereby companies
integrate social and environmental concerns in their business
operations and in the interaction with their stakeholders, on a voluntary
basis.

Question 5

The triple bottom line (TBL)

Answer 5

People (social)
Planet (environmental)
Profit (economic)

Question 6

example of Stakeholders:

Answer 6

• shareholders
• employees
• investors
• consumers, customers, suppliers
• public authorities and regulators
• NGOs

Question 7

CR only benefits society
False Or TrUE

Answer 7

FALSE
CR strives to be a win-win solution for companies’ management
and their stakeholders.

Question 8

CR means to only comply with sustainable practices.
True or False

Answer 8

False
CR targets start where compliance with enforced sustainable
practices end.

The CR objectives do not only mean boundaries, but also
business opportunities, to look at them in a positive way, pursuing what can be done instead of being deterred by difficulties and conflicts of interest.

Question 9

CR=

Answer 9

CORPORATE RESPONSIBILITY

Question 10

CSR

Answer 10

CORPORATE SOCIAL RESPONSIBILITY/
CORPORATE STAKEHOLDER RESPONSIBILITY

Question 11

CSR = CORPORATE PHILANTHROPY(≈donating money ex.)
True or False

Answer 11

False

Question 12

ESG stands for

Answer 12

E - Environmental
S - Social
G – Governance

Question 13

ESG standards apply to companies’ strategy and operations. They are
used by..

Answer 13

socially conscious investors in screening their invesments and
in building their investment porfolios.

Question 14

Environmental standards assess

Answer 14

how companies relate and care for
nature and the sustainability of the planet.

Question 15

Social standards evaluate

Answer 15

how the companies engage with their stakeholders, namely the communities where they operate, employees, customers, suppliers, NGOs, Governments.

Question 16

Governance standards deal with

Answer 16

shareholder rights, Boards,
leadership, executive pay, internal controls, risk assessment, and audit.

Question 17

E-P-G Model refers to

Answer 17

attitudes of managers inside a
corporation related to their company’s international business.

The dominant E-P-G attitude in a company defines its management
orientation and affects its international strategy.

Question 18

EPG stands for

Answer 18

attitudes:
E- ethnocentric
P- polycentric
G- geocentric

Question 19

ETHNOCENTRIC means

Answer 19

Home-oriented

Question 20

POLYCENTRIC means

Answer 20

Host-oriented

Question 21

GEOCENTRIC means

Answer 21

World-oriented