Exploring Business Ethics

What is Corporate Social Responsibility (CSR)?

• A strategy for maximizing profits at any cost.

• A legal requirement for all corporations to follow.

• A method for reducing employee benefits and salaries.

• Corporate Social Responsibility (CSR) is a business model that helps a company be socially accountable to itself, its stakeholders, and the public.

How do Fair Trade Practices benefit producers?

• Fair Trade Practices provide fair prices, promote sustainability, and empower producers.

• They focus solely on maximizing profits for corporations.

• They eliminate competition among producers.

• They increase production costs for farmers.

Why is Environmental Sustainability important for businesses?

• It has no impact on customer loyalty.

• Environmental sustainability is important for businesses because it reduces costs, enhances reputation, attracts customers, and ensures long-term viability.

• It guarantees immediate profits for businesses.

• It increases environmental pollution.

What are some examples of Ethical Marketing Strategies?

• Examples of ethical marketing strategies include transparency in advertising, sustainable sourcing, community engagement, fair trade practices, and responsible data usage.

• Misleading product claims

• Aggressive sales tactics

• Ignoring customer feedback

What rights do employees have regarding their welfare?

• Employees must accept any job assignment regardless of safety.

• Employees have rights to a safe workplace, anti-discrimination protections, and the right to report issues.

• Employees can be forced to work overtime without compensation.

• Employees have no rights to report workplace issues.