Chapter 4 Social Responsibility of Business and Government

How are trademarks identified by?

A logo.

How long do copyrights last?

Copyrights extend for life plus an additional 70 years.

Why would a company get a patent?

A patent prevents other companies from making or selling recorders using this process, so no other company could steal their product.

A company is decides to continue to produce a popular product after it discovers a minor defect in it, how is this an example of an ethical dilemma?

A product with a defect in it may be harmful to its users. This is an ethical dilemma because this is a principle of morality that could be seen as unmoral.

How does business ethics improve employee behavior?

By following the business's code of ethics this will improve their behavior based upon the expectations of the business.

The government buys goods and services from within its own country, how does this help the country?

Doing this benefits the economy by helping businesses gain money.

How is employee wellness practiced in business?

Employee wellness is practiced in business through job safety training. Standard job safety should provide full protection from fire and other hazard, how to manage the unexpected, and employee training in how to work safely.

The government employs workers, how does this help the economy of a country?

Employing workers helps the economy by making more jobs available to the community. The jobs produced also provide services to the people of a community (for example the police or fire department).

How can a business practice environmental protection and what are some examples?

Environmental protection includes conservation, which is saving scarce natural resources, and cutting down on pollution.

How are ethical conduct guidelines important in writing a code of ethics?

Ethical conduct guidelines affect writing a code of ethics because without a guideline an accurate code cannot be written.

How does regulation of utilities create a better environment for people?

Excess of a utility (for example having six different electric companies) would make that specific utility cost more and become more efficient because of competition.

What are the benefits of social responsibility actions taken by businesses?

Expanded justice for group of a society. Enhanced company images. Reduced need for government actions. Improved quality of life in a community and around the world. Increased awareness of social issues among workers, consumers, and others.

How do the different levels of government have the power to regulate foreign and interstate commerce?

Federal government is given full power over foreign and interstate commerce.

Government raises money by collecting revenue, how does the government obtain this revenue?

Government can gain revenue through taxes, borrowing, fines for traffic violations or other violations.

What is a way government assists business organizations?

Government can help businesses by collecting and reporting valuable information.

What is an example of a way governments prevent unfair business practices?

Government regulation to prevent unfair business practices is preventing a company to have a monopoly.

Two forms of taxes are income taxes and property taxes, how are the amount of these taxes decided?

Income taxes are levied based on the income of individuals, property tax is based on the value of land and buildings.

What are a few examples of government protection activities?

Police and fire-fighting services.

How is protecting citizens, consumers, businesses, and workers on of the roles of government?

Protection is the government's responsibility mostly because they have control over the military. Additionally social contract theory states that by giving up basic rights it sis the government's job to protect the people.

How does the government fulfill their duty of worker protection?

Safety standards are put on buildings, machines and chemicals by government agencies. Working laws are also set to protect the people.

The government borrowing money is obtained through what?

The government borrows money by selling bonds.

How does the legal system protect the people?

The legal system enforces laws and government regulations. Without the legal system no rules would be enforced which would create a very dangerous environment.

What are some social responsibilities issues in business?

The protection of and environment, inclusion in minorities and women, employment of physically challenged and employment of older aged people.

The four rules of contract enforcement are: agreement, competent parties, consideration and legality. Why are these the four elements of contracts?

These four things allow a contract to be fair. The government must regulate these in this way so no unfair contracts are made.

What are the cost of social responsibility actions?

What are the cost of social responsibility actions? Money is the main costs for social responsibility actions. Money is spend for new non-polluting or safer equipment, for building repairs to remove risks, for wellness and rehabilitation programs, and for social projects sponsored by a company.

What does workplace diversity mean and how is it required in the workforce today?

Workforce diversity means to include all social groups and conform the business to meet the needs of special groups. These groups include: gender (the roles of women) ethnic groups, physically challenged, and older workers. It is required today because the workforce today has to be fair to all individuals.