Contemporary Business, Cdn Ed. Ch2

Front 1

Define "business ethics"

Back 1

The standards of conduct and moral values involved in decisions made in the work environment

Front 2

List 4 groups of people firms have responsibilities towards

Back 2

1) Customers

2) Employees

3) Investors

4) Society as a whole

Front 3

List the 3 groups of people that corporate social responsibility benefits

Back 3

1) Consumers

2) The environment

3) The company itself

Front 4

What did the Sarbanes-Oxley Act of 2002 accomplish?

Back 4

It established new rules and regulations for securities trading and accounting practices in the US

Front 5

What is the role of ethics compliance officers

Back 5

To deter wrongdoing and ensure that ethical standards are met:

Conduct employee training programs

Investigate sexual harassment and discrimination charges, and

Monitor potential conflicts of interest

Front 6

List the 3 approaches companies have towards ethics and social responsibility

Back 6

1) Engage in traditional corporate philanthropy

2) Anticipate and manage risks

3) Identify opportunities to create value by doing the right thing

Front 7

List 4 common ethical challenges that business people face

Back 7

1) Conflict of interest

2) Honesty and integrity

3) Loyalty vs truth

4) Whistleblowing

Front 8

Define "conflict of interest"

Back 8

When an employee must choose between a business's welfare and personal gain

Front 9

Define "integrity"

Back 9

Behaving according to one's deeply-felt ethical principles in business situations

Front 10

Define "whistle-blowing"

Back 10

Disclosure to company officials, government authorities, or the media of illegal, immoral, or unethical practices committed by an organization

Front 11

List the 4 levels on which a corporate culture that supports business ethics develops

Back 11

1) Ethical awareness

2) Ethical reasoning/education

3) Ethical action

4) Ethical leadership

Front 12

Define "social responsibility"

Back 12

A business's consideration of society's well-being and consumer satisfaction, in addition to profits

Front 13

Define "social audit"

Back 13

A formal procedure that identifies and evaluates all company activities that relate to social issues.

This can include conservation, employment practices, environmental protection, and philanthropy

Front 14

List 4 groups a business has social responsibilities towards

Back 14

1) The general public

2) Customers

3) Employees

4) Investors and others of the financial community

Front 15

Define "green marketing"

Back 15

A marketing strategy that promotes environmentally safe products and production methods

Front 16

Define "corporate philanthropy"

Back 16

An organization's contribution to the communities where it earns profits

Front 17

Define "cause-related marketing"

Back 17

Tying the company's marketing efforts with their charitable giving

Front 18

Define "consumerism"

Back 18

The public demand that a business consider the wants and needs of its customers when making decisions

Front 19

List the 4 basic rights outlined in the Consumer Bill of Rights

Back 19

1) The right to be safe

2) The right to be informed

3) The right to choose

4) The right to be heard

Front 20

Define "product liability"

Back 20

The responsibility of manufacturers for injuries and damages caused by their products

Front 21

What is the function of the Competition Act?

Back 21

It has regulations against false advertising

Front 22

What are a business's social responsibilities towards its employees?

Back 22

1) Workplace safety

2) Quality-of-life issues

3) Ensuring equal opportunity on the job

4) Avoiding age discrimination

5) Preventing sexual harassment and sexism

Front 23

Define "sandwich generation"

Back 23

People caring for two generations: their children and aging parents

Front 24

Define "discrimination"

Back 24

A biased treatment towards a job candidate or employee

Front 25

What was the Employee Equity Act (EEA) created to do?

Back 25

1) Increase job opportunities for women and minority groups

2) Help end discrimination in any personnel action based on race, colour, religion, disability, gender, or national origin

Front 26

Define "sexual harassment"

Back 26

Unwelcome and inappropriate actions of a sexual nature

Front 27

Define "sexism"

Back 27

Discrimination against members of either sex, but usually against women