CHP3 PT3: Business Ethics and Social Responsibility

question

Last Resort
answer

If no one else is able to help, it becomes more important for you to intervene.
question

credibility
answer

The second objective for ethics training programs is to achieve _____ with employees.
question

Whistle-blowing
answer

that is, reporting others’ ethics violations, is a difficult step for most people to take
question

Sarbanes-Oxley Act
answer

requires all publicly held companies to establish anonymous hot lines to encourage reporting of unethical and illegal behaviors
question

Social responsibility
answer

is a business’s obligation to pursue policies, make decisions, and take actions that benefit society
question

shareholder model
answer

a view of social responsibility that holds that an organization’s overriding goal should be profit maximization for the benefit of shareholders
question

shareholder
answer

Friedman
question

stakeholder model
answer

a theory of corporate responsibility that holds that management’s most important responsibility, long-term survival, is achieved by satisfying the interests of multiple corporate _____
question

Stakeholders
answer

persons or groups with a \”stake\” or legitimate interest in a company’s actions
question

Primary stakeholders
answer

any group on which an organization relies for its long-term survival
question

primary stakeholders
answer

shareholders, employees, customers, suppliers, governments, and local communities
question

Secondary stakeholders
answer

any group that can influence or be influenced by a company and can affect public perceptions about the company’s socially responsible behavior
question

secodary stakeholders
answer

the media and special interest groups
question

economic responsibility
answer

a company’s social responsibility to make a profit by producing a valued product or service
question

Legal responsibility
answer

a company’s social responsibility to obey society’s laws and regulations
question

Ethical responsibility
answer

a company’s social responsibility not to violate accepted principles of right and wrong when conducting its business
question

Discretionary responsibilities
answer

the social roles that a company fulfills beyond its economic, legal, and ethical responsibilities
question

Social responsiveness
answer

refers to a company’s strategy to respond to stakeholders’ economic, legal, ethical, or discretionary expectations
question

social
answer

A _____ responsibility problem exists whenever company actions do not meet stakeholder expectations
question

reactive strategy
answer

a social responsiveness strategy in which a company does less than society expects
question

defensive strategy
answer

a social responsiveness strategy in which a company admits responsibility for a problem but does the least required to meet societal expectations
question

accommodative strategy
answer

a social responsiveness strategy in which a company accepts responsibility for a problem and does all that society expects to solve that problem
question

proactive strategy
answer

a social responsiveness strategy in which a company anticipates responsibility for a problem before it occurs and does more than society expects to address the problem
question

profitable
answer

there is no guarantee that socially responsible companies will be _______
question

stakeholder
answer

John Mackey

Get instant access to
all materials

Become a Member