Business Chapter 2 Questions

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1. 2. Distinguish Ethics is the standards set by outsiders 5. 6. List and discuss the For:
between ethics and and responsibility if the businesses arguments for and 1. Business created a lot of problems.
social obligation to uphold these standards to against social Should have a hand in fixing
responsibility. maximize their positive impact and responsibility by example: pollution reduction and
minimize their negative impact. business. cleanup
2. Business should be more
2. 3. Why has ethics Without ethics the consumer loses their
responsible because they have the
become so trust in a business/corporate America
financial and technical resources to
important in and this can cause a decline in the
fix social problems
business? economy.
3. Businesses are members of
3. 4. What is an Ethical Issue: an identifiable problem, society and should do their fair
ethical issue? What situation, or opportunity that requires a share
are some of the person to choose from among several 4. Socially responsible decisions
ethical issues actions that may be evaluated as right made by business can decrease the
named in your text or wrong, ethical or unethical. regulation of the government
book? Why are 5. Social responsibility is necessary
they ethical issues? Ethical Issues: to ensure economic survival.
Misuse of company time
Abusive and intimidating behavior Against:
Misuse of company resources 1. It side tracks managers from the
Conflict of interest primary goal of business
4. 5. What is a code Code of Ethics: formalized rules and 2. When a business participates in
of ethics? How can standards that describe what a social programs it gives them
one reduce company expects of its employees. greater power
unethical behavior 3. Some question is business can
in business? Implementing training programs make social responsible decisions
advance ethical behavior because they 4. Social problems are the
prescribe which activities are government's problem
acceptable and which are not, ad they 6. 7. What Provide a safe work space
limit the opportunity for misconduct by responsibilities does a Pay them adequately for the time
providing punishments for violations of business have towards they work
the rules and standards. its employees? Be kept informed on what is
happening in the company
7. 8. What Sustainability: conducting activities in
responsibilities does a way that allows for the long-term
business have with well-being of the natural
regard to the environment, including all biological
environment? What entities. Sustainability involves the
steps have been taken assessment and improvement of
by some responsible business strategies, economic
businesses to sectors, work practices,
minimize the negative technologies, and lifestyles so that
impact of their they maintain the health of the
activities on the natural environment.
environment?
Many firms are trying to eliminate
wasteful practices, the emission of
pollutants, and/or the use of harmful
chemicals from their manufacturing
processes.
8. 9. What are a business's responsibilities toward the
community in which it operates?
9. Define business ethics. Who determines whether a
business activity is ethical? Is unethical conduct always
illegal?
Through donations to local and national charitable organizations.
Business Ethics: principles and standards that determine acceptable
conduct in business.
The acceptability of a business if determined by the organization,
customers, competitors, government regulators, interest groups, and the
public.