Ethical Dilemma and Corporate Social Responsibility Quiz

Ethics refers to the rules provided by an external source, e.g., codes of conduct in workplaces, while morals refer to an individual's own principles regarding right and wrong.

The six steps of Hosmer’s moral reasoning process are: Recognize the moral issue, Gather all relevant information, Evaluate the alternative actions, Make a decision, Implement the decision, and Reflect on the decision and outcome.

Ethics in business is important as it helps build trust with customers, suppliers, and employees, enhances the company's reputation, and contributes to long-term success.

<p>Deontological theory of ethics is based on the concept that the morality of an action should be based on whether that action itself is right or wrong under a series of rules, rather than based on the consequences of the action.</p> Signup and view all the answers

<p>Kohlberg's theory of Moral Development consists of three levels: Pre-conventional, Conventional, and Post-conventional, each with two stages.</p> Signup and view all the answers

<p>Corporate Social Responsibility (CSR) is a company's sense of responsibility towards the community and environment in which it operates, including both social and environmental aspects.</p> Signup and view all the answers

<p>Corporate philanthropy refers to the act of a corporation or business promoting the welfare of others, generally through charitable donations or volunteer work.</p> Signup and view all the answers

<p>The main difference between CSR and corporate philanthropy is that CSR encompasses a broader scope of responsibilities, including social and environmental aspects, while corporate philanthropy typically focuses on charitable giving and community involvement.</p> Signup and view all the answers

<p>TBL stands for Triple Bottom Line, which is an accounting framework with three parts: social, environmental, and financial. It measures the company's impact and performance in these three dimensions.</p> Signup and view all the answers

<p>The 3 P's of the Triple Bottom Line are People, Planet, and Profit. These represent the three dimensions of social, environmental, and financial performance that are evaluated under the TBL framework.</p> Signup and view all the answers