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BBB4M-Ch6 - Social Responsibility & Ethics Exam Questions with Complete Solutions
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BBB4M-Ch6 - Social Responsibility & Ethics Exam Questions with Complete Solutions
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BBB4M-Ch6 - Social Responsibility &Ethics Exam Questions with Complete
Solutions
Sweatshops - Answer-factories in underdeveloped & developing where employees
-work in unsafe environments
-treated unfairly
-have no chance to address these conditions.
Corporate Corruption - Answer-The involvement in illegal activities such as bribery &
fraud to further one's business interests
Dumping - Answer-(INTL BUS CONTEXT) Selling products in a foreign country below
the cost of production/price in home country.
Predatory Dumping - Answer-Anti-competitive business practice. Foreign companies
price products below mkt value to increase sales & force domestic competition out of
business & raise prices
Microcredit - Answer-the granting of very small loans (little as $100) to those in poverty
to spur entrepreneurship.
Entrepreneur's don't need down payment, credit history to use loan & start business.
Non-Governmental Organizations (NGOs) - Answer-Non-profits w/ a service &
development focus made up of mostly volunteers. Work for benefit of members/other
groups in world's population.
- mostly funded through charitable donations.
May centre on trade, education, youth, improving the environment, human rights, or
other issues.
Corporate Social Responsibility (CSR) - Answer-duty of a business/enterprise to work in
the best interests of society it relies on for resource (human, material & environmental)
to advance welfare of society & act as good global citizen through policies.
Ethical Imperialism - Answer-AKA Ethical Absolutism.
view of culture based on idea that there are certain universal truths/values that are
standard across all culture.
If sthg wrong in one country, it is wrong in all countries
, Cultural Relativism - Answer-view of culture based on idea that a culture's diff. values
should be respected b/c the ethics of one culture are not better than another.
Pollution - Answer-environmental contamination caused by manufacturing/use of
commodities. Can take many forms
Ex: - ozone depletion
- acid rain
- air, water, land pollution
- nuclear waste
Resource Depletion - Answer-Consumption of scarce/non-renewable resources.
Incl: fossil fuels, minerals, forests, fish, water
CSR focus - Answer-triple bottom line - people, profits, planet
CSR forms - Answer-Sponsoring local sports teams
Ethical treatment of employees
Charitable donations
Safe working environments
Environmental Consciousness
Creating and promoting diverse workplaces
CSR benefits - Answer--marketing tool
-attract & retain excellent employees
-dissuades govt implementing regulations that interfere with business
CSR Criticisms - Answer-- Costs money, detracts from profits
-Uses employees' time and energy
-Distract customers from problems a company creates
-May act ethically in one country, but not in another
Companies creating toxic jewellery - Answer-Aldo, Ardene
TOMS Shoes Initiative - Answer-Give one pair for every pair bought
Ethical Dilemma - Answer-When two or more right choices present themselves and
conflict with one another.
Business Ethics - Answer-set of rules / guidelines that management or individuals follow
when making decisions facing their company.
INCL:
-Dom & Int'l laws
-Personal values of individual making the decision
-Company's code of ethics and corporate governance
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