The Importance of Business Ethics JAN24B WEEK 10

Fill in the blank: Ethical behavior is the cornerstone of ______, which is essential for building strong relationships with customers, employees, investors, and the community.

• trust

• profit

• competition

• marketing

Which of the following is a benefit of ethical practices in business?

• Avoiding legal and regulatory issues

• Increasing unethical behavior

• Reducing trust

• Creating negative work environments

Employees are more likely to be attracted to and remain with organizations that value ethical conduct and create a positive work environment.

• True

• False

Which ethical decision-making framework focuses on maximizing overall happiness and well-being for the greatest number of people?

• Utilitarianism

• Deontology

• Virtue Ethics

Which ethical decision-making framework emphasizes moral duties and principles, regardless of consequences, and focuses on doing the right thing even if it's not the most convenient or popular?

• Utilitarianism

• Deontology

• Virtue Ethics

Which ethical decision-making framework emphasizes developing good character traits, such as honesty, integrity, and compassion, and aims to cultivate moral excellence?

• Utilitarianism

• Deontology

• Virtue Ethics

What does Stakeholder Engagement in Corporate Social Responsibility (CSR) involve?

• Engaging with all stakeholders, including customers, employees, investors, suppliers, and the community, to understand their needs and concerns.

• Reducing the company's environmental impact.

• Promoting ethical business practices.

What is the focus of Environmental Sustainability in CSR?

• Promoting ethical business practices.

• Reducing the company's environmental impact and promoting sustainable practices.

• Engaging with stakeholders.

Social Responsibility in CSR encompasses promoting ethical business practices and contributing to the well-being of the community.

• True

• False

Fill in the blank: CSR can significantly improve a company's ________, leading to increased trust, loyalty, and brand preference.

• reputation

• inventory

• machinery

• location