Ethics in Business

What does CSR stand for?

• Corporate Social Responsibility

• Corporate Sustainability and Responsibility

• Corporate Social Responsibility and Sustainability

• Corporate Sustainability Responsibility

Which of the following is NOT a benefit of practicing CSR?

• Enhanced brand reputation

• Increased customer loyalty

• Higher profits

• Reduced employee turnover

What is the first step in ethical decision making?

• Identify the problem

• Evaluate the options

• Make a decision

• Take action

Which of the following is an example of unethical behavior in business?

• Providing excellent customer service

• Engaging in price fixing

• Donating to charity

• Implementing sustainable practices

What is the purpose of a code of ethics in business?

• To increase profits

• To guide ethical decision making

• To promote competition

• To attract investors

Which of the following is NOT a stakeholder in a business?

• Employees

• Customers

• Competitors

• Shareholders

What is the main goal of ethical decision making?

• To maximize profits

• To minimize costs

• To act in the best interest of stakeholders

• To gain a competitive advantage

What is the term for the practice of making decisions based on moral principles?

• Ethical relativism

• Ethical egoism

• Ethical absolutism

• Ethical decision making

Which of the following is an example of a socially responsible business practice?

• Exploiting natural resources

• Discriminating against employees

• Supporting local communities

• Engaging in unfair competition

What is the term for the process of evaluating the potential ethical consequences of a decision?

• Ethical relativism

• Ethical egoism

• Ethical absolutism

• Ethical reasoning