1. Ethics and Social Responsibility

Write the definition of each key term:

  1. Ethics:
  2. Code of Ethics:
  3. Intellectual Property:
  4. Social Responsibility:
  5. Stakeholders:

Use a key term bank above to complete the following sentences:

1. In some cultures ________________________ is expected, and failure to present them is considered an insults.

2. Corporations demonstrate their sense of _____________________________ by contributing time and money to charitable, culture, and civic organizations.

3. A ________________________________ is a document that outlines the principles of conduct to be used in making decisions within the organization.

4. The ownership of ideas is commonly referred to as __________________________________.

5. _______________________ are a set of moral principles or values that govern behavior.

6. Businesses have obligations to all of the people affected by their actions who are known as ______________________________.

7. Over the years, various _______________________ have been enacted that directly relate to the issue of ethics in business.

8. A corporate effort to improve human welfare is also known as ___________________________.

Circle the letter of the work or phrase that best completes each of the following sentences.

  1. The law that set standards on the type and quantity of pollutants that industries can put into bodies of water is the:
    1. National Environmental Policy Act
    2. Toxic Substances Control Act
    3. Clean Water Act
    4. Toxic Waste Treatment Act

2. One way businesses can solve ethical dilemmas is through

    1. Conduction conflict management seminars
    2. Enforcing a code of ethics
    3. Relying solely on management skills and abilities
    4. None of the above

3. Taking money from a cash register is an example of

    1. Ethical behavior
    2. Unethical behavior
    3. Employee salary problems
    4. Both A and C

4. If the ethical course of action is not clear, you have an ethical

    1. Combination
    2. Situation
    3. Dilemma
    4. None of the above

5. Manufacturer can be forced to recall a defective product by the

    1. Consumer Product Safety Commission
    2. Environmental Protection Agency
    3. Food and Drug Administration
    4. Both A and B

6. A company can demonstrate its sense of social responsibility through

    1. Philanthropy and volunteerism
    2. Environmental awareness
    3. Maintaining ethnically diverse workforces
    4. All of the above

Circle T for true and F for false for each of the statements below

  1. Ethical employees sometimes steal from the company for good reasons T F
  2. By establishing a code of ethics, a corporation is doing all it can to prevent unethical behaviour T F
  3. It is important for businesses to be ethical when they perform services or produce products. T F
  4. Businesses all have the same code of ethics. T F