Business Ethics: Categories of Responsibilities

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What is the main focus of economic responsibilities in business ethics?

To achieve satisfactory financial results (correct)
To maintain quality standards
To meet the expectations of society
To adhere to the nation's law and regulations

According to A.B. Carroll, which type of responsibilities involves meeting the expectations of society?

Managerial Responsibilities
Discretionary Responsibilities (correct)
Legal Responsibilities
Economic Responsibilities

What is an essential aspect of sustainable business according to Weybrecht (2014)?

Maintaining honest payment terms (correct)
Maximizing profits
Reducing tax returns
Meeting quality standards

What is the primary purpose of corporate governance?

To ensure good management and sustainability (B) Signup and view all the answers

What is the role of ethics in business decision-making?

To guide day-to-day operations and business decisions (A) Signup and view all the answers

What is a key principle of managerial duty in business ethics?

Making sustainable business decisions (A) Signup and view all the answers

What is the primary obligation of a business, according to Milton Friedman's approach?

To maximize profits for their owners or shareholders (B) Signup and view all the answers

What is the term for a manager's duty to serve their employer?

Loyal agent's argument (C) Signup and view all the answers

What is the primary focus of corporate governance in business ethics?

Ensuring ethical practices in business operations (B) Signup and view all the answers

What is the goal of ethical luxury in business ethics?

To promote sustainable and responsible business practices (C) Signup and view all the answers

Can adults change their views and deepen their understanding of ethical or moral issues?

Yes, adults can learn and change (B) Signup and view all the answers

What is the primary focus of value proposition in business ethics?

Creating value for customers and stakeholders (A) Signup and view all the answers

What is the primary goal of good corporate governance?

To ensure the equitable treatment of all stakeholders (A) Signup and view all the answers

What is the limitation of the traditional value proposition?

It only considers the financial benefits of a decision (B) Signup and view all the answers

What is the role of the board in corporate governance?

To oversee the management of the corporation (C) Signup and view all the answers

What is the OECD's approach to corporate governance?

It promotes the principles of good governance (C) Signup and view all the answers

What is the primary goal of sustainable business practices?

To ensure the long-term sustainability of the corporation (C) Signup and view all the answers

What is the concept of the value proposition in the context of sustainable business practices?

It is the essence of sustainable business development (A) Signup and view all the answers