Business Management-EOP Skills Standards: Bell Ringer Day 11

What is business ethics?

• A system that teaches business people how to create profitable companies with limited resources

• A system of moral principles to guide people on how to behave formally in business meetings and related events

• It is the study of ethical principles and moral/ethical problems that arise in a business environment

What is corporate social responsibility?

• The maximization of profits and return a portion of those profits to shareholders as a reward for the risk they took in investing in the firm

• A company's sense of responsibility towards the community and environment (both ecological and social) in which it operates

• A system of governmental regulations to make corporations comply to the legal rules of the country where they are based

What is the difference between a code of ethics and a code of conduct?

• There is no difference

• The code of ethics outlines specific behaviors that are required or prohibited as a condition of ongoing employment. The code of conduct is wide-ranging and non-specific designed to provide a set of values.

• The code of ethics is wide-ranging and non-specific designed to provide a set of values. The code of conduct outlines specific behaviors that are required or prohibited as a condition of ongoing employment.

What is a Ponzi Scheme?

• is a legitimate investment where the board members in a company are aligned with the managers looking to attract new investors

• is a type of financial operation to transfer resources from external sources into domestic companies looking to finance current expenses

• is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors

What is "insider trading"?

• the activity of person trading inside the company

• trading information with others to one's own advantage through having access to confidential information.

• trading information to make the company look good with all the stakeholders

What is "money laundering"?

• creating the appearance that profits (obtained illegally) are "legitimate" assets

• the act of putting money into a washing machine to remove stains and disinfect currency/notes

• buying stocks of a company whose main activity is cleaning or laundering luxury clothes

What question (s) should you ask yourself whenever you are faced with an ethical dilemma?

• Is it legal
• Is it balanced/fair
• Is it right
• All of these

What is a shareholder?

• A space sharer
• A holder sharer
• Someone who shares things
• Someone who has bought shares in the company and therefore owns some of it

What is a stakeholder?

• Someone who has an interest in the company

• Someone who eats lots of meat

• Someone who stabs people with sticks

• A vampire slayer

What are the benefits of a company being known as ethical?

• Impact on competitiveness

• Enhances reputation

• Value added

• All of these