Exam 4: Business Ethics Social Responsibility: Doing Well by Doing Good

Core stakeholders for most businesses are employees, customers, investors, and the broader community.

Which of the following is NOT an important step in the successful implementation of a code of ethics?

The best approach to ethical decision making is to rely on relative standards rather than universal standards.

Which of the following must be considered when deciding the living wage globally?

The process which involves a systematic evaluation of how well a firm is meeting its ethics and social responsibility objectives is called a social audit.

All stakeholders have the same needs, expectations, and levels of interest.

Corporate philanthropy:

Corporate philanthropy includes all business donations to nonprofit groups, including both money and products.

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Stakeholders are any groups that have a stake­or a personal interest­in the performance and actions of an organization

The purpose of a written code of ethics is to:

When an organization develops a code of ethics, research has indicated that it is important to integrate the code of ethics into which of the following areas?

Triple Play, an upscale club in Manhattan, offers three floors of music and live entertainment. The club has established a set of goals related to its social and ethical responsibilities and carefully monitors its progress in achieving these goals. Triple Play's efforts are consistent with the use of a social audit.

_____ refers to sets of beliefs about right and wrong, good and bad.

Janet reasons, "It's wrong to lie. However, it's okay to overstate my expense account on my last trip because I really need the money, and the company hasn't given me a raise in the past year." This statement is an example of an employee who is applying _____ to fit the situation at hand.

Establish protection for whistle­blowers. Be sure that no retaliation

How do businesses around the globe monitor ethics and social responsibility?

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Ethics refers to:

Human rights, worker safety, and wage practices are not factors a socially responsible business considers when deciding on what vendors and suppliers best meet its needs.