Chapter Four BUSI 1301

Which of the following statements is true of ethics?

Actions that are completely legal can still be unethical.

_____ is a widely accepted social movement that supports a buyer's right to be informed, to be safe, to choose, and to be heard.

Consumerism

Which of the following is a duty of a socially responsible organization toward its customers?

Following laws that prevent anticompetitive behavior such as predatory pricing

Which of the following is a difference between corporate philanthropy and corporate responsibility?

Unlike corporate philanthropy, corporate responsibility focuses on the actions of the business itself rather than donations.

In the context of business ethics, _____ involves clear misconduct, unlike an ethical dilemma that involves a conflict of values.

an ethical lapse

One of the ways by which companies can show their responsibility toward the environment is by reducing their _____.

carbon footprint

In the context of universal ethical standards, being open-minded and not taking advantage of others exemplifies the core value of _____.

fairness

In the context of codes of ethics, the purpose of a written code is to:

give employees the information they need to make ethical decisions across a range of situations.

Universal ethical standards can solve the problem of too many people viewing ethics as _____.

relative

Ethics refer to:

sets of beliefs about right and wrong.

The obligation of a business to contribute to society is referred to as _____.

social responsibility

In the context of social responsibility, _____ include employees and investors who have a personal interest in the performance and actions of an organization.

stakeholders