Exam 15: Incorporating Ethics and Social Responsibility Into the Business

_____ refers to operating a business in a way that exceeds the ethical, legal, commercial, and public expectations that society has of the business.

An effective way to become socially responsible is to try to support many different causes rather than pick a single cause to focus on.

Which of the following statements best represents the subjectivist approach to avoiding ethical issues?

Strategies are the plans for achieving the goals and, ultimately, accomplishing the mission of a company.

Management guru Peter Drucker always asserted that a company's _____ should "fit on a t-shirt."

Which of the following is NOT one of the five most common types of ethical dilemmas in business?

Aristotle, the Greek philosopher, said that _____ is the first of the human virtues because without it, the others are not possible.

By giving something back to the community or communities in which it does business and, through them, to society as a whole, the business holds itself to a higher standard of

It is not possible for a company to be successful without a vision.

A company's _____ is what brings everyone together to achieve a common objective and is closely related to the company's purpose.

_____ are the fundamental beliefs that a company holds about what is important in business and in life in general.

Define stakeholders.

Which socially responsible rule does Paul Brainerd, founder of The Brainerd Foundation in Seattle, Washington, suggest?

List the four constants of success.

Discuss the process of developing a code of ethics.

Developing a strong ethical code and enlisting the cooperation of everyone in the business will allow a company to avoid the ethical problems that business brings.

A triple bottom line strategy consists of people, planet, and profit.

Which of the following is NOT one of the constants that seem to permeate everyone's definition of success?

In the context of ethics, most ethical dilemmas require balancing conflict among three perspectives: _____, obligations or duty, and utility or cost/benefit.

List and briefly describe the components of company vision.