Business 101 quiz 2 – Flashcards
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Business ethics
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an application of moral standards to business situations
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Sarbanes-Oxley Act of 2002
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provides legal protection for employees that report corporate misconduct
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code of ethics
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a guide to acceptable and ethical behavior as defined by the organization
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consumerism
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all activities undertaken to protect the rights of consumers
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whistle-blowing
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informing the press or government officials about unethical practices within one's organization
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caveat emptor
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a latin phrase meaning "let the buyer beware"
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minority
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a racial, religious, political, national, or other group regarded as different from the larger group of which its a part
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affirmative action program
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a plan designed to increase the number of minority employees at all levels within an organization
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hard-core unemployed
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workers with little education or vocational training and a long history of unemployment
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pollution
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the contamination of water, air or land
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the field of business ethics applies moral standards to business situations
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True
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business ethics rarely involves the application of moral standards to the business activity of a normal company
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false
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the economic model of social responsiblity emphasizes the effect of business decisions on society
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false
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consumerism consists of all activities undertaken to protect the rights of consumers
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true
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manufacturers are not required by law to inform consumers about the potential danger of using their products
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false
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affirmative action plans encompass all areas of human resources management, including recruiting, hiring, training, promotion and pay.
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true
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the EPA was created by the govnermnet to develeop new and improved ways to clean and imporve the environment
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false
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consumers will probably pay in large part for cleaning up our environment through increased taxes and increased product costs
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true
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a key step in developing and implementing a social responsibility program is the environmental audit
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false
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business ethics
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the application of moral standrds to business situations
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customers expect a firms products to be
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safe, reliable and reasonably priced
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unethical
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some AIG executves were aware of the financial problems of the company was facing and yet failed to reveal this info to the public
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bribes are
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unethical
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financial factor, opportunities and morals are
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the three sets of factors that influence the standards of behavior in an organization
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whistle blowing is
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informing the press, govnmt officials about unethical practices within one's organization
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social responsibility
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Though costly, this provides tremendous benefits to society and the business.
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management
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where the social responsibility of a business begins
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the primary emphasis in the economic model of social responsibility is on
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firm's and community's interests
