Business Ethics and Social Responsibility

Sustainability

• The ability to maintain healthy environmental, social, and economic systems in balance.

• A method of increasing economic growth at the expense of the environment.

• A strategy focused solely on reducing carbon emissions.

• A temporary solution to environmental issues.

Deceptive Advertising

• Advertising that accurately represents the truth about a product or service.

• Advertising that misleads or misrepresents the truth about a product or service.

• Advertising that only promotes products with scientific evidence.

• Advertising that is solely based on customer testimonials.

Consumer Trust

• The confidence that customers have in a brand or company based on its behavior and reputation.

• A marketing strategy to increase sales.

• A measure of customer satisfaction with a product.

• The amount of money a customer is willing to spend on a brand.

Ethical Dilemma

• A situation in which a person must choose between two conflicting ethical principles.

• A scenario where one must decide on the best course of action without any moral conflict.

• A choice made without considering the consequences of one's actions.

• A decision that is solely based on personal gain.

Marketing Ethics

• The principles and standards that define acceptable conduct in marketing practices.

• A set of rules for advertising on social media.

• Guidelines for pricing strategies in retail.

• The legal requirements for product labeling.

Target Audience

• A specific group of consumers identified as the intended recipient of a marketing message.

• A random selection of consumers who may or may not be interested in a product.

• A demographic group that has no interest in marketing messages.

• A collection of consumers who have previously purchased a product.

Corporate Social Responsibility (CSR)

• A business model that helps a company be socially accountable to itself, its stakeholders, and the public.

• A strategy focused solely on maximizing profits for shareholders.

• A marketing tactic to improve brand image without real commitment.

• A legal requirement for all corporations to follow ethical practices.

Social Responsibility

• The obligation of businesses to act in the best interests of their environment and society as a whole.

• The practice of maximizing profits at any cost.

• The requirement to follow government regulations only.

• The focus on short-term gains over long-term sustainability.

Stakeholders

• Individuals or groups that have an interest in the outcome of a business's actions, including employees, customers, suppliers, and the community.

• Only employees of a business who are affected by its decisions.

• Customers who purchase products but have no influence on business decisions.

• Suppliers who provide materials but are not affected by the business's actions.

Fair Trade

• A movement that advocates for fair prices and ethical treatment for producers in developing countries.

• A system that promotes free trade without any regulations.

• An initiative to reduce the prices of goods in developed countries.

• A program that focuses on increasing profits for large corporations.