Understanding Ethical Behavior

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What is the minimum requirement for practicing good business ethics?

Competing fairly and honestly (correct)

Exploiting information for personal gain

Engaging in aggressive marketing tactics

Maximizing profits at any cost

What does insider trading involve?

Conducting transparent business transactions

Following legal compliance in stock trading

Using unpublicized information for stock market benefit (correct)

Competing fairly and honestly in the stock market

What is a key factor influencing ethical behavior according to the text?

Lack of knowledge about ethical issues

Cultural differences (correct)

Passive approach to ethical considerations

Maximizing personal gain

What is the definition of whistle-blowing?

An external disclosure of information by a company insider that exposes illegal or unethical behavior by others within the organization Signup and view all the answers

What is the main difference between philanthropy and strategic CSR?

Philanthropy involves donations to charitable institutions, while strategic CSR aligns social contributions with a company's overall business strategy Signup and view all the answers

What is the primary aim of sustainable development?

Operating business in a manner that meets present needs without compromising future generations' ability to meet their own needs Signup and view all the answers

What does consumerism primarily advocate for?

Pressuring businesses to consider consumer needs and interests Signup and view all the answers

What is affirmative action also known as?

"Positive Discrimination" Signup and view all the answers

What does Cap and Trade environmental policy entail?

Giving companies some freedom in addressing the environmental impact of specified pollutants by either reducing emissions to meet a designated cap or buying allowances to offset excess emissions Signup and view all the answers

What does Corporate Social Responsibility (CSR) primarily emphasize?

The notion that business has obligations to society beyond the pursuit of profits (and compliance with the law) Signup and view all the answers

What does an ethical dilemma refer to?

A situation in which more than one side of an issue can be supported with valid arguments, or when all solutions are unpleasant Signup and view all the answers

What is the purpose of a Code of Ethics in an organization?

To provide guidance on ethical behavior and decision-making within the organization Signup and view all the answers

What does practicing good business ethics involve, at a minimum?

Competing fairly and honestly, communicating truthfully, being transparent, not causing harm to stakeholders Signup and view all the answers

What is insider trading considered as?

Unethical behavior involving the use of unpublicized information for personal gain in the stock market Signup and view all the answers

What is the primary focus when considering factors influencing ethical behavior?

Cultural differences and globalization Signup and view all the answers

What is the primary purpose of a Code of Ethics in an organization?

To define the values and principles guiding the organization's decisions Signup and view all the answers

What does whistle-blowing involve?

Disclosure of information by a company insider that exposes illegal or unethical behavior within the organization Signup and view all the answers

What is an ethical dilemma?

A situation in which more than one side of an issue can be supported with valid arguments, or when all solutions are unpleasant Signup and view all the answers

What does strategic CSR primarily involve?

Social contributions directly aligned with a company's overall business strategy Signup and view all the answers

What does Cap and Trade environmental policy entail?

Giving companies some freedom in addressing the environmental impact of specified pollutants by reducing emissions to meet a designated cap or buying allowances to offset excess emissions Signup and view all the answers

What is the primary aim of sustainable development?

Operating business in a manner that meets present needs without compromising the ability of future generations to meet their own needs Signup and view all the answers