Chapter 5 - Ethical & Socially Responsible Business Ethics/Behavior

Question 1

Select the correct answers(s). Three practical reasons why you should practice business ethics:

Accepted Answer

Ethical behavior also prevents legal problems, An ethical workplace motivates employees, Customers are more confident when buying goods and services

Question 2

recycling, doing business electronically, buying in bulk, environment friendly transportation

Accepted Answer

are ways to lower expenses, while helping environment

Question 3

This is a way of doing business based on principles of social and environmental responsibility

Accepted Answer

Fair Trade

Question 4

involves respecting the privacy of others

Accepted Answer

confidentiality

Question 5

To deter unethical behavior, companies try to create (blank) in business decisions and actions

Accepted Answer

Transparency

Question 6

Intellectual property (artistic & industrial creations of mind) includes the following 3 terms:

Accepted Answer

copyright, patent, and trademark

Question 7

Exists when personal considerations and professional obligations interfere with each other

Accepted Answer

conflict of interest

Question 8

The main reason for behaving ethically, in business or in any area of life, is simply that

Accepted Answer

it's the right thing to do

Question 9

a partnership between a business & nonprofit group for the benefit of both. Increases for both

Accepted Answer

Cause-related marketing

Question 10

means buying from suppliers who provide safe working conditions and respect workers's rights

Accepted Answer

ethical sourcing

Question 11

(blank) describes a business's moral philosophy & gives concrete guidelines for carrying it out

Accepted Answer

code of ethics

Question 12

means that businesses act in ways that balance profit and growth with the good of society

Accepted Answer

corporate social responsibility

Questions 12