Podcast
Questions and Answers
What concept does Wal-Mart demonstrate by asking suppliers to develop more environmentally friendly products?
What concept does Wal-Mart demonstrate by asking suppliers to develop more environmentally friendly products?
What behavior is characterized by weight-loss programs that allow individuals to regain weight after leaving the program?
What behavior is characterized by weight-loss programs that allow individuals to regain weight after leaving the program?
What is the term for limiting investments to companies aligned with an investor's ethical beliefs?
What is the term for limiting investments to companies aligned with an investor's ethical beliefs?
What does strategic giving refer to in a corporate context?
What does strategic giving refer to in a corporate context?
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What does Seeds of Change exemplify by donating to environmental protection activities?
What does Seeds of Change exemplify by donating to environmental protection activities?
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What is one of the primary functions of a code of ethics in a company?
What is one of the primary functions of a code of ethics in a company?
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Which statement about corporate philanthropy is true?
Which statement about corporate philanthropy is true?
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What is the set of moral standards for judging whether something is right or wrong?
What is the set of moral standards for judging whether something is right or wrong?
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Which statement about utilitarianism is true?
Which statement about utilitarianism is true?
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What concept refers to fairness according to prevailing societal standards?
What concept refers to fairness according to prevailing societal standards?
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Which of the following is an example of an ethical business activity?
Which of the following is an example of an ethical business activity?
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What is a common misconception about utilitarianism?
What is a common misconception about utilitarianism?
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Which option best defines the concept of social responsibility?
Which option best defines the concept of social responsibility?
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In a business context, what does equity refer to?
In a business context, what does equity refer to?
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Which behavior would likely be viewed as unethical in a workplace?
Which behavior would likely be viewed as unethical in a workplace?
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Study Notes
Business Ethics and Social Responsibility
- Ethics defines moral standards for judging right and wrong.
- Utilitarianism aims to maximize the overall benefit but may create winners and losers in outcomes.
- Justice relates to fairness based on societal standards, influencing business ethics.
Ethical Business Practices
- Reporting misappropriation of funds qualifies as ethical behavior.
- Using company resources for personal purposes and condoning inappropriate behavior are unethical activities.
Corporate Responsibility and Environmental Concerns
- Wal-Mart’s advertising for quality products emphasizes their commitment to environmentally friendly practices.
- Social responsibility reflects a company’s engagement in ethical and sustainable practices.
Weight-Loss Programs
- Many programs claim weight loss without lifestyle changes, leading to "yo-yoing" effects, which is legal but considered irresponsible.
Investment and Philanthropy
- Social investing limits investments to companies that align with personal ethical beliefs.
- Strategic giving aligns corporate philanthropy with the company's mission and goals.
Corporate Mission and Philanthropy
- Seeds of Change exemplifies strategic giving by supporting environmental causes aligned with its health-focused mission.
Code of Ethics
- A code of ethics outlines employee responsibilities and expected behavior toward colleagues and customers.
- It may serve as a guideline, summary of goals, or even as a public relations tool.
Business Ethics and Social Responsibility
- Ethics defines moral standards for judging right and wrong.
- Utilitarianism aims to maximize the overall benefit but may create winners and losers in outcomes.
- Justice relates to fairness based on societal standards, influencing business ethics.
Ethical Business Practices
- Reporting misappropriation of funds qualifies as ethical behavior.
- Using company resources for personal purposes and condoning inappropriate behavior are unethical activities.
Corporate Responsibility and Environmental Concerns
- Wal-Mart’s advertising for quality products emphasizes their commitment to environmentally friendly practices.
- Social responsibility reflects a company’s engagement in ethical and sustainable practices.
Weight-Loss Programs
- Many programs claim weight loss without lifestyle changes, leading to "yo-yoing" effects, which is legal but considered irresponsible.
Investment and Philanthropy
- Social investing limits investments to companies that align with personal ethical beliefs.
- Strategic giving aligns corporate philanthropy with the company's mission and goals.
Corporate Mission and Philanthropy
- Seeds of Change exemplifies strategic giving by supporting environmental causes aligned with its health-focused mission.
Code of Ethics
- A code of ethics outlines employee responsibilities and expected behavior toward colleagues and customers.
- It may serve as a guideline, summary of goals, or even as a public relations tool.
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Description
Test your understanding of moral standards and the principles of utilitarianism in this Chapter 2 quiz. Explore the concepts that define right and wrong, as well as the implications of ethical decision-making in various contexts.
