Exam 2: Business Ethics and Social Responsibility

Jack Welch, former CEO of General Electric, is respected in business circles for focusing his company on the welfare of its customers and investors, and for ensuring GE would thrive in the long run. This type of environment is an example of ethical ___.

The ___ defines the standards for safety and advertising to be followed by makers of drugs, cosmetics, and therapeutic devices.

Explain how the Canadian Charter of Rights and Freedoms addresses discrimination in Canada.

A marketing strategy that promotes environmentally friendly products and production methods is called ___.

An advertising agency representing two companies that compete with one another has an obvious conflict of interest.

Although social responsibility in a business is commendable, most companies are NOT judged by their interactions within the community.

Social audits are informal business surveys that report customer satisfaction with a company's products.

List the major responsibilities a business has to its workers.

Over the long term, society can give power to a business or take that power away, if the business operates outside the expectations of stakeholders. True or false?

The ___ of a coffee-growing company include(s) its employees, customers, suppliers, and the community members where the company is located.

James, a final year business student in your school, argues that a company's responsibility to society, and its responsibility to remain profitable, are mutually exclusive. Is this statement true or false?

a) A corporate culture that supports business ethics develops on four levels. Mention and explain each of those levels. b) As the CEO of a company, give at least two examples of behaviour that you would exhibit as an ethical leader, in order to boost the morale of your employees.

A recent study found that 49 percent of employees surveyed "witnessed misconduct on the job" in 2009, an increase over 2007.

On average, women with a college degree earn less money than men with a college degree. This is an example of

How could loyalty versus truth create an ethical dilemma for a businessperson?

A conflict of interest exists when a person is faced with a decision in which an action will harm one individual or group while benefiting another.

Tanisha is a diabetes educator at a local clinic. Recently, she was offered a lavish trip by a sales representative who has been pushing the clinic to use his company's diabetes supplies. Tanisha declined the gift. Which ethical challenge did she face?

One of the first steps in the establishment of sound business ethics is to help employees identify ethical problems when they occur.

What is green marketing?

If companies provide a code of conduct and ethical training, there is no need to hire a compliance officer or to provide an anonymous employee hotline to report unethical behaviour they have witnessed.