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CHAPTER FOUR: ETHICS & CORPORATE RESPONSIBILITY

What is Ethics?
the moral principles and standards that guide the behavior of an individual or group
An individual's values or principles of conduct, such as honesty, fairness, integrity, respect for others, and responsible citizenship.
What is the process for making ethical decisions?
Knowing various moral standards (universalism, relativism)
Recognizing the moral impact of your decision (whom it will harm, whom it will benefit, so forth)
Defining the complete moral problem
Considering the economic, legal, ethical components of the decision, loss of reputation, and employee turn over.
All of the above
What responsibilities do corporate social responsibility include?
Economic, knowing various moral standards, recognizing moral impact
Economic, society, creditors, customers
Economic, legal, ethical, philanthropy
Who are the internal stakeholders of a company?
Employees
Manager
Owners
All of the above
Who are the external stakeholders of a company?
Suppliers and society
Owners
Suppliers, society, government, creditors, shareholders, customers
Stakeholders, suppliers, society
 
 
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