Social Responsibility and Business Ethics

Business ethics are principles that guide the conduct of individuals and organizations in the business world.

• True

• False

Which of the following is a long-term benefit for businesses that follow ethical practices?

• Loss of customer trust

• Financial penalties

• Talent acquisition and retention

• Damage to brand reputation

Fill in the blank: Ethical behavior in the workplace typically refers to a set of guidelines that determine the standard of _______ and ethical conduct that's expected within a company or organization.

• moral

• financial

• legal

• technical

What is one potential negative outcome of not following ethical practices in business?

• Increased customer loyalty

• Higher employee morale

• Legal consequences

• Improved brand reputation

How do ethical practices connect to social and environmental responsibilities?

• Ethical practices are unrelated to social and environmental responsibilities.

• Ethical practices enhance social and environmental responsibilities.

• Ethical practices hinder social and environmental responsibilities.

• Ethical practices are only concerned with financial responsibilities.

Ethical business practices include all of the following EXCEPT:

• Fair treatment of employees

• Honest advertising

• Environmental sustainability

• Exploiting loopholes in tax laws

What is a key principle of business ethics?

• Profit maximization at any cost

• Transparency and accountability in all operations

• Ignoring stakeholder interests

• Prioritizing short-term gains over long-term sustainability

Corporate Social Responsibility (CSR) is an example of:

• Business ethics

• Financial mismanagement

• Market demand

• Entrepreneurial risk