Ethics and Corporate Social Responsibility Quiz

Ethics and Corporate Social Responsibility (CSR)

• CSR is the understanding that an organization's purpose is to create shared value for both business and society.
• This involves strategically integrating actions that meet the objectives of both parties.
• The public interest is a key stakeholder in an organization's operational success.

Fundamental Influence Sources of Ethics Wheel

• Individual: Personal values, spiritual influences, past experiences, environment, and social image.
• Societal: Societal interpretations, legal and regulatory guidelines.
• Professional: Professional designations, association influences, industry practices.
• Business Culture: Pressure to meet company objectives, reward system structure, pressure from superiors, and corporate ethics guidelines.

Concepts & Vocabulary

• Integrity: Honesty, reliability, ethics, and moral judgment.
• Board of Directors: The governing body of a corporation overseeing management.
• Whistleblowing: Reporting dishonest acts or behaviors to an authority figure.
• Code of Conduct: A statement of responsibilities, actions, and behavior rules for employees.
• Ethics: Moral principles and beliefs about what is right and wrong, acting as a guide for decision-making.

Corporate Social Responsibility (CSR) Continued

• CSR is more than just a cost, constraint, or charitable deed.
• It can be a source of opportunity, innovation, and competitive advantage.
• CSR shifts organizational attitudes from "winning for me" to enabling success while serving the public good.

Four Views of CSR

• Personal Project: A business leader's personal initiative.
• Philanthropy: Helping others through donations.
• Operational Initiative: Embedding social importance into organizational actions.
• Strategic Partnering: Integrating CSR into organizational strategy and culture.

Managing Movement in the Economy

• Gross Domestic Product (GDP): Total market value of goods and services produced domestically over a period of time.
• The national bank aims for equilibrium between growth and inflation, preventing overheating.
• Growth needs careful management to stimulate investment without inflation control loss.
• Recession: A contraction in overall economic activity over two or more quarters.

Four Quadrants of Managerial Responsibility

• Market Assessment and Strategy Development:
  • Customer privacy policies and practices
  • Relationships with external stakeholders
  • Product safety
• Business System Design and Development:
  • Recycling and disposal practices
  • Emissions and carbon footprint impact
  • Packaging requirements
  • Outsourcing policies
  • Transportation modeling
• Financial Resource Management:
  • Financial transparency
  • Investor relations
  • Ethical financial reporting practices
• Attracting, Retaining, and Managing Talent:
  • Diversity and discrimination
  • Safe working conditions
  • Labor relations
  • Education and training
  • Fair and equitable personnel policies and procedures
  • Equitable and realistic compensation practices
  • Employee benefit programs

Test your understanding of the concepts of ethics and corporate social responsibility (CSR). This quiz covers the fundamental influences on ethical behavior and the importance of integrity in business practices. Explore how societal, individual, and professional factors shape ethical decision-making in organizations.