BUSN101 Chapter 4 Final Prep

The majority of CEOs blame unethical employee conduct on a failure of leadership to establish ethical standards.Many Americans define ethical behavior according to the situation in which they find themselves. This suggests that there may be situations where it might be OK to cheat, steal, or lie.
A characteristic of an effective ethics offer would be someone who has a capacity to serve as a counselor and an investigator.A firm’s carbon footprint is the amount of carbon it releases in its effort to do business.
Ethical dilemmas in business often force us to choose between equally unsatisfactory alternatives.Purposefully understating your firm’s income to avoid paying higher taxes is an example of illegal behavior.
Compliance based ethics codes typically rely on laws and regulations outside the firm for guidance.Corporate values are learned by observing the actions of others in the organization.
Labor standards are an unresolved ethical issue that surrounds global trade.A payoff for socially conscious behavior is new and loyal customers.
The Foreign Corrupt Practices Act deals with bribery to obtain business.Companies are using social media to communicate their corporate social responsibility actions to their customers.
To improve America’s business ethics, company leaders should adopt and support a corporate code of ethics.After developing a code of ethics, it should be communicated to everyone with whom the business has dealings.
An important source of public scrutiny is watchdogs. These are socially conscious groups that make it their mission to measure the social responsibility levels of businesses, and provide customers with their opinions about the level of corporate responsibility of various companies.Compliance-based ethics codes confirm to laws and regulations.
Establishing a formal code of ethics is growing in popularity.A business should be managed ethically because it’s the right thing to do.
Some critics of corporate social responsibility view spending money on CSR as stealing from investors.When Bagel Works employs in-store recycling, composting, and uses nontoxic cleaners, they are participating in corporate responsibility.
WHen a firm undertakes corporate social initiatives, it is making donations that are directly related to a firm’s corporate competency.Although college graduates would prefer to work for socially responsible companies, they are not in agreement with what it means to be socially responsible.
Relationships between businesses and among nations should be based on fairness, honesty, openness, and moral integrity.A compliance-based ethics code emphasizes the prevention of unlawful behavior by increasing control and penalizing wrongdoers.
Ethical behavior covers a wider range of conduct than legal behavior.International issues of social responsibility and ethical behavior are difficult and not as clear-cut as US firms would like them to be.
We describe charitable donations by corporations to nonprofit organizations as corporate philanthropy.Business is under pressure from society to be more socially responsible. However, even the strongest advocates for corporate responsibility can’t seem to agree on what social responsibility involves.
This statement describes ethical behavior in the US: we can find common moral values that many Americans uphold, including respect for human life, self-control, honesty, integrity, and courage.Ethical behavior at work is learned by observing the actions of others.