Ethics and Morals Distinction
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Ethics and Morals Distinction

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Define ethics.

Ethics is a code of behavior defined by the group to which an individual belongs.

What are morals?

Morals are the personal principles upon which an individual bases decisions about right and wrong.

Explain the concept of virtues and vices.

A virtue is a habit that inclines people to do what is acceptable, while a vice is a habit of unacceptable behavior.

What is corporate social responsibility (CSR)?

<p>CSR is the concept that an organization should act ethically by taking responsibility for the impact of its actions on various stakeholders.</p> Signup and view all the answers

Explain supply chain sustainability.

<p>Supply chain sustainability is a component of CSR that focuses on developing and maintaining a supply chain meeting present needs without compromising future generations.</p> Signup and view all the answers

Define a stakeholder.

<p>A stakeholder is someone who stands to gain or lose depending on how a particular situation is resolved.</p> Signup and view all the answers

What role does a corporate ethics officer play?

<p>A corporate ethics officer provides an organization with vision and leadership in the area of business conduct.</p> Signup and view all the answers

How do ethics and morals differ?

<p>Ethics are group-defined codes of behavior, while morals are personal principles for decision-making.</p> Signup and view all the answers

Why is it important for organizations to consider CSR?

<p>Organizations should consider CSR to act ethically and take responsibility for their impact on stakeholders.</p> Signup and view all the answers

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