Busi 10013 Exam 1 – Flashcards
Unlock all answers in this set
Unlock answersquestion
Ethics
answer
The study of right and wrong and of the morality of the choices individuals make. An ethical decision or action is one that is "right" according to some standard of behavior
question
Business Ethics
answer
The application of moral standards to business situations.
question
Sarbanes-Oxley Act of 2002
answer
provides sweeping new legal protection for those who report corporate misconduct. "The act adopts though new provisions to deter and punish corporate and accounting fraud and corruption, ensure justice for wrongdoers, and protect the interests of workers and shareholders"-- George Bush
question
Code of Ethics
answer
A written guide to acceptable and ethical behavior as defined by and organization; it outlines uniform policies, standards, and punishments for violations.
question
Whistle-Blowing
answer
Informing the press or government officials about unethical practices within one's organization
question
Social Responsibility
answer
The recognition that business activities have an impact on society and the consideration of that impact in business decision making.
question
Caveat Emptor
answer
"Let the buyer beware"
question
Economic Model of Social Responsibility
answer
The view that society will benefit most when business is left alone to produce and market profitable products that society needs.
question
Socioeconomic Model of Social Responsibility
answer
The concept that business should emphasize not only profits but also the impact of decisions on society.
question
Consumerism
answer
All activities undertaken to protect the rights of consumers
question
Minority
answer
A racial, religious, political, national, or other group regarded as different from the larger group of which it is apart and that is often singled out for unfavorable treatment.
question
Affirmative Action Program
answer
A plan designed to increase the number of minority employees at all levels within an organization
question
Equal Employment Opportunity Commission (EEOC)
answer
A government agency with the power to investigate complaints of employment discrimination and the power to sue firms that practice it.
question
Hard-core unemployed
answer
Workers with little education or vocational training and a long history of unemployment.
question
Pollution
answer
The contamination of water, air, or land through the actions of people in an industrialized society.
question
Social Audit
answer
A comprehensive report of what an organization has done and is doing with regard to social issues that affect it.
question
Discuss the factors that affect the level of ethical behavior in organizations
answer
Individual, social and opportunity factors all affect the level of ethical behavior in an organization.
question
Individual Factors
answer
Include knowledge level, moral value and attitudes, and personal goals
question
Social Factors
answer
Include cultural norms and the actions and values of co-workers and significant others
question
Opportunity Factors
answer
Refer to the amount of leeway that exists in an organization for employees to behave unethically if they choose to do so
question
T/F The field of business ethics applies moral standards to business situations
answer
True
question
T/F Business ethics rarely involves the application of moral standards to the business activity of a normal company
answer
False
question
The economic model of social responsibility emphasizes the effect of business decisions on society
answer
False
question
Consumerism consists of all activities undertaken to protect the right of consumers
answer
True
question
Manufacturers are not required by law to inform consumers about the potential dangers of using their products
answer
False
question
Affirmative-action plans encompass all areas of human resources management, including recruiting, hiring, training, promotion, and pay.
answer
True
question
Hard-core unemployed workers are those with little education or vocational training
answer
True
question
The EPA was created by the government to develop new improved ways to clean and improve the environment
answer
True
question
Consumers will probably pay in large part for cleaning up our environment through increased taxes or increased product cost
answer
False
question
A key step in developing and implementing a social responsibility program is the environmental audit.
answer
True
question
Consumers expect a firm's products to _______
answer
Be safe, reliable, and reasonably priced
question
What are 3 sets of factors that influence the standards of behavior in an organization?
answer
Opportunity, Individual factors, social factors
question
_____ is costly but provides tremendous benefits to society and the business.
answer
Social Responsibility
question
Where does 'Social Responsibility' of business have to begin?
answer
Management
question
Primary emphasis in the economic model of social responsibility is on _____.
answer
Production
