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Questions and Answers
What impact would paying fair living wages and benefits to employees have?
What impact would paying fair living wages and benefits to employees have?
- No impact
- Mixed impact
- Positive social impact (correct)
- Negative social impact
How would underpaying employees affect their social well-being?
How would underpaying employees affect their social well-being?
- Increase their well-being
- Decrease their well-being (correct)
- Improve their financial health
- No effect on well-being
What is the likely consequence of providing inadequate wages to employees?
What is the likely consequence of providing inadequate wages to employees?
- Employee turnover
- Increased benefits
- Low morale and productivity (correct)
- High morale and productivity
How does offering fair wages benefit the company?
How does offering fair wages benefit the company?
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What could be a consequence of not providing benefits to employees?
What could be a consequence of not providing benefits to employees?
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Study Notes
Business Ethics
- Respect for human rights, particularly those of minorities, is essential.
Transparency and Accountability
- Financial statements must contain accurate and complete disclosure.
Trustworthiness and Promise Keeping
- Be worthy of trust by keeping promises and fulfilling commitments.
- Abide by the spirit and letter of an agreement.
Ethical Decision-Making
- Not all legal actions are ethical.
- What is legal may not necessarily be ethical in certain situations.
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