Business' Ethics Topic 1

Which of these concepts relates to utilitarianism?

• A. consequences

• B. actions

• C. character

• D. duty

According to the Greek system of logic introduced by Socrates, normative ethical theories ultimately are grounded in reason.

• True

• False

Explain why ethical responsibilities go beyond legal compliance.

Describe the difference between normative and descriptive ethical theories.

Which of the following is not a stakeholder?

• A. the media

• B. corporate culture

• C. the environment

• C. the environment

  D. customers

According to Milton Friedman, a company’s social responsibility consists solely of bettering the welfare of society.

• True

• False

What is corporate social responsibility (CSR)?

Describe a practical way to prioritize the claims of stakeholders.

Describe how a company’s ethical business practices affect its goodwill.

Family is generally a strong influence on our ethical standards.

• true

• False