Questions and Answers
What does compliance-based ethics codes emphasize?
What is corporate philanthropy?
Charitable donations
What does corporate policy refer to?
Position on social and political issues
What is corporate responsibility?
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What are corporate social initiatives?
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What does corporate social responsibility signify?
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What are ethics?
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What is insider trading?
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What are integrity-based ethic codes?
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What is a social audit?
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Who are whistleblowers?
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Study Notes
Compliance Based Ethics Codes
- Focus on preventing unlawful behavior.
- Involves increased monitoring and penalizing offenders.
Corporate Philanthropy
- Represents a dimension of social responsibility.
- Involves charitable contributions and donations.
Corporate Policy
- Reflects a firm's stance on social and political matters.
- Part of a company's social responsibility framework.
Corporate Responsibility
- Encompasses actions like hiring minority workers.
- Includes ensuring product safety and consumer well-being.
Corporate Social Initiatives
- An advanced form of corporate philanthropy.
- Relates closely to a company's core competencies and strengths.
Corporate Social Responsibility (CSR)
- Represents a business's commitment to societal welfare.
- Highlights the importance of ethical operations within the community.
Ethics
- Standards of moral behavior agreed upon by society.
- Defines what is considered right versus wrong in a cultural context.
Insider Trading
- An unethical practice leveraging confidential company information.
- Individuals use this knowledge for personal gain, affecting fairness in the market.
Integrity Based Ethic Codes
- Establishes organizational values and ethical standards.
- Promotes an environment fostering ethical behavior and collective accountability among employees.
Social Audit
- A thorough assessment of a company's social responsibility efforts.
- Evaluates progress toward implementing socially responsive programs.
Whistleblowers
- Individuals who expose illegal or unethical conduct within organizations.
- Play a crucial role in maintaining ethical standards and accountability.
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Description
Test your knowledge with these flashcards from BUS300 Chapter 4. Focus on understanding key concepts such as compliance-based ethics and corporate philanthropy. Perfect for quick revision or deeper learning of business ethics principles.
