Section 5: Business Ethics & Social Responsibility, Doing Well

In order to be considered an ethical business, businesses should not engage in planned obsolescence.

• True

• False

Which of the following is NOT a component of the triple bottom line? 

• profits

• planet

• productivity

• people

The obligation of a business to contribute to society is referred to as _____.

• planned obsolescence

• growthism

• societal consumerism

• social responsibility

Which of the following statements is true of ethics? 

• All ethical standards are codified in the law.

• Ethics and social responsibility are independent of each other.

• Establishing broad agreement on ethical standards is easier when society is diverse.

• Actions that are completely legal can still be unethical.

Promoting high-calorie/low-nutrient foods with inadequate information about the risks is a(n) _____ practice. 

• legal but unethical

• illegal and unethical

• legal and ethical

• illegal but ethical

In the context of business ethics, _____ refers to a decision that involves a conflict of values. 

• an ethical lapse

• ethical hacking

• an ethical dilemma

• ethical consumerism

Finwes is an advertising company. Because of certain untoward incidents in the company, the management decides to create a formal written document that would guide the employees in making right decisions in various professional situations. In this scenario, the management wants to create a _____.

• negotiable instrument

• code of merit

• code of ethics

• document of compliance

Yanmei, an employee at a news agency, learns that the reason her colleague was asked not to pursue a news story further was because the editor of the newspaper was bribed by the concerned party to suppress the matter. Yanmei reveals this information to the chief editor and her colleagues and also reports it to the media. In this scenario, Yanmei is a _____. 

• social auditor

• corporate philanthropist

• grandstander

• whistle-blower

In the context of social responsibility, _____ include employees and investors who have a personal interest in the performance and actions of an organization.

• focus groups

• philanthropists

• prosumers

• stakeholders

One of the ways by which companies can show their responsibility toward the environment is by reducing their _____.

• anaerobic digestion

• leapfrogging

• carbon footprint

• green procurement