Business Ethics Principles Quiz

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Questions and Answers

Which principle emphasizes the importance of maintaining honesty and reliability in business?

Keep an Open Mind

Maintain Account Control

Get Involved in the Community

Be Trustworthy (correct)

What is the primary focus of sustainability within the context of business ethics?

Protecting the environment (correct)

Ensuring client satisfaction

Maintaining clear documentation

Building community relations

Which principle advises businesses to seek feedback for improvement?

Meet your Obligations

Develop Clear Documents

Be Respectful

Keep an Open Mind (correct)

Which of the following principles relates to fulfilling commitments to clients?

Meet your Obligations Signup and view all the answers

What does the principle of 'Develop Clear Documents' primarily address?

Clarity and professionalism in marketing materials Signup and view all the answers

Which principle involves taking responsibility for financial practices in a business?

Maintain Account Control Signup and view all the answers

What does social responsibility in business encourage?

Promoting well-being beyond legal duties Signup and view all the answers

Which of these principles is focused on engaging with and supporting the community?

Get Involved in the Community Signup and view all the answers

What can favoritism complaints lead to in the workplace?

Tensions and hostilities among coworkers Signup and view all the answers

What should organizations establish to manage workplace romance issues?

Guidelines or policies addressing workplace romance Signup and view all the answers

What is one potential consequence of a breach of confidentiality in the workplace?

Sexual harassment or discrimination charges Signup and view all the answers

What does a lack of guidelines on workplace romance convey to employees?

A careless message throughout the firm Signup and view all the answers

How does social policy contribute to strategic planning for a company?

By clarifying the responsibilities owed to different stakeholders Signup and view all the answers

Which of the following might result from neglecting social responsibilities?

Decreased morale and productivity Signup and view all the answers

What do guidelines on workplace romance help assure compliance with?

Federal, state, and local laws Signup and view all the answers

What is social policy primarily concerned with?

Outlining a company's responsibilities to stakeholders Signup and view all the answers

Which organization is recognized for its commitment to sustainability?

Coca-Cola Signup and view all the answers

What is a key principle of corporate social responsibility (CSR)?

Being socially accountable to stakeholders Signup and view all the answers

What does environmental sustainability primarily focus on?

Managing natural resources responsibly for present and future needs Signup and view all the answers

What significant law related to plastic waste was implemented in the Philippines?

Extended Producer Responsibility statute Signup and view all the answers

Which of the following companies focuses on employee rights as part of its CSR?

Spotify Signup and view all the answers

What term refers to a re-evaluation of marketing materials to ensure clarity and professionalism?

Content Review Process Signup and view all the answers

When will the Philippines be considered an aging population according to the United Nations?

2025, when 7% of the population is over 65 Signup and view all the answers

Which company is known for its focus on inclusivity and diversity in communities?

Starbucks Signup and view all the answers

What is the primary responsibility of a whistle-blower within an organization?

To report unethical violations Signup and view all the answers

What significant risk does bribery pose to an organization?

Legal consequences Signup and view all the answers

Which of the following statements best differentiates workplace romance from sexual harassment?

Workplace romance is always consensual, while sexual harassment is not. Signup and view all the answers

What major change was made by the SEC regarding whistleblowing?

Mandated reporting of unethical activities Signup and view all the answers

In the context of allegations against the Department of Health, what was a primary concern?

Irregular procurement of supplies Signup and view all the answers

Which of the following is NOT a reason why bribery poses a risk to organizations?

Increased employee productivity Signup and view all the answers

What defines bribery according to Black’s Law Dictionary?

The offering of value to influence actions Signup and view all the answers

How does workplace romance differ from unethical workplace behavior?

Workplace romance involves two consenting parties. Signup and view all the answers

What practice were the workers protesting against?

Contractualization and unjust compensation Signup and view all the answers

How does social policy aid in strategic planning?

By acting as a framework for decision-making Signup and view all the answers

What is the primary focus of the Busog, Lusog, Talino (BLT) School Feeding Program?

Delivering daily lunch to undernourished children Signup and view all the answers

What is a significant challenge posed by aging populations?

Increased demands on healthcare and retirement plans Signup and view all the answers

What is the statutory minimum retirement age in Singapore?

63 years Signup and view all the answers

Which system requires Australian citizens to save a percentage of their annual salary for retirement?

Mandatory Retirement Savings System Signup and view all the answers

What approach has Jollibee Group Foundation taken to enhance its support for the school feeding program?

Changing its approach to strengthen support for existing programs Signup and view all the answers

What does the Aging Population issue indicate for developed regions?

Challenges for labor dynamics and healthcare Signup and view all the answers

Study Notes

Presentation Overview

Topic: Ethics, Social Responsibility, and Sustainability
Presenter(s): Alicando, Alzaga, Apacible

Content

Overview
Principles of Business Ethics
Whistle-blowing, Bribery, and Workplace Romance
Design and Articulate a Social Policy
Social Policies on Retirement
10 Best Socially Responsible Companies in the World
Environmental Sustainability

Overview

Business ethics are principles guiding decision-making in organizations, essential for effective strategic management.
Good ethics lead to good business.
Social responsibility involves actions promoting well-being beyond legal obligations.
Sustainability focuses on protecting the environment.
Business ethics, social responsibility, environmental sustainability are interconnected and impact strategic management.

7 Principles of Admirable Business Ethics

Be trustworthy: Clients want to do business with a trustworthy practice. Ensure your character, ability, and honesty are reliable.
Keep an open mind: Leaders must be open to new ideas; seek opinions from clients and team members for improvements.
Meet your obligations: Regardless of circumstances, uphold commitments and earn trust, especially after any missteps. Carefully examine and update marketing and educational materials.
Develop clear documents: Ensure all materials are precise, professional, and don't mislead.
Get involved in the community: Demonstrate business's commitment to community well-being by actively engaging in relevant issues and activities.
Maintain account control: Engage in hands-on accounting and record keeping, and stay vigilant against any questionable activity.
Be respectful: Treat each individual with respect and courtesy, regardless of differences in title, age, or position.

Whistle-blowing, Bribery, and Workplace Romance

Whistle-blowing is when employees report unethical violations.
Bribery is the offering, giving, receiving, or soliciting of any item of value to influence official actions or duties.
Workplace romance is an intimate relationship between two consenting employees.

Case Overview (2020)

Allegations surfaced regarding the irregular procurement of COVID-19 supplies by the Department of Health (DOH).
Whistle-blowers raised concerns about potential bribery.
Awarded contracts without proper bidding processes raised ethical concerns in a time of national crisis.

Defined as principles and guidelines outlining a company's responsibilities toward stakeholders, reflecting their values and societal interactions.

Defining responsibility clarifies a company's obligations to various groups.
Neglecting these obligations can lead to public backlash, impacting morale and productivity.
Adapting to societal changes (like environmental sustainability and diversity) is essential.
Guiding decision-making, a framework for aligning choices with values and long-term goals.

NutriAsia Case (2018)

Striking workers from NutriAsia were violently dispersed during a protest in Marilao, Bulacan.
Protests centered on: illegal termination, noncompliance to health/safety standards, compensation issues for workers, and prohibiting unionizing.
Dispersed by Meycauayan police and NutriAsia guards.

CSR is a company practice of being socially accountable to itself, stakeholders, and the public.
Companies practicing CSR are aware of their impacts on economic, social, and environmental aspects of society.

Renewable Innovation

Johnson & Johnson's example is provided, focusing on limiting natural resources use, waste reduction and increasing renewable energy use, with carbon footprint reduction.

Sustainability

Coca-Cola's example of a 100% plant-based bottle is mentioned.

Employee Rights

Mentions Netflix and Spotify as relevant examples

Inclusivity and Diversity

Starbucks is featured.

Local Communities

Walt Disney is referenced.

Environmental Sustainability

Defined as responsible management of natural resources without compromising future generations' ability to meet needs.

Earth Day 2024

60% Reduction of Plastic Production by 2040 is highlighted.
Emphasizes health awareness around plastic dangers to the environment.

Philippines

Generates 1.7 million metric tons of post-consumer plastic waste yearly.
Implemented Extended Producer Responsibility (EPR) last year to penalize companies for plastic waste issues and removed 486,000 tonnes from the environment.

Retirement Policies of Different Countries

Singapore, Australia, and the Philippines are all examined, and relevant retirement programs mentioned.

Quiz

Covering key topics and concepts related to ethics, social responsibility, and sustainability.

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Description

Test your knowledge on the core principles of business ethics, including honesty, sustainability, and social responsibility. This quiz covers essential concepts that guide ethical decision-making in a business environment.