Business Ethics, Social Responsibility & Globalisation

This is a practice of firms to act in a manner so that their actions do not negatively affect society or the environment.

Who are the stakeholders that the firm have responsibility to?

• Consumers, Auditors, Account & Receptionist

• Shareholders, Employees, CEO & Community

• Employees, Community, Shareholders & Consumers

• Employees, Community, Shareholders & Suppliers

What is defined as a set of rules, practices and processes which guide the way a business is operated?

Why is good corporate governance important?

• Shareholders are not infringed

• Stakeholders are not treated unfairly

• To make sure the business doesn't harm the environment

• None of the above

What is business ethics?

What is the government's response to social irresponsibility?

• To completely shut down businesses that don't cooperate

• Impose taxes to offset the cost to the environment

• Impose stiff penalty

• Pass legislation limiting noise and other forms of pollution

• Refuse to give contracts to companies that are unethical or socially irresponsible

What is "code of ethics"?

• The deed to the business ensures the business is legit and no one else claims the name

• A document that outlines the guidelines that govern the behaviour of management and employees

• This is the ethics of the business to ensure the business doesn't harm the environment and society

• None of the above

Name one common ethical issue with CARICOM?

What is NEPA?

• National Environmental Policy Act

• National Ethics of Accustoms

• Nation Environmental Pollution Association

• National Environmental Protection Agency

What is the firm's responsibility to the shareholders?

• Provide a forum through which they can express views and give suggestions

• Give fair returns on shareholders’ investment

• Ensure that waste is properly disposed of

• Protect their investment

• Keep them informed of the business’s performance