Ethics Endterm

Question 1

is a continuing
commitment by business to behave ethically and
contribute to economic development while improving
the quality of life of the workforce and their families, the
local community, and society at large.

Answer 1

World Business Council for
sustainable Development (WBCSD)

Question 2

four (4) levels of
corporate responsibility

Answer 2

1. Earning a profit
2. Legal responsibility
3. Ethical responsibility
4. Discretionary responsibility

Question 3

means extending personal
services without either compulsion of monetary
compensation

Answer 3

Volunteerism

Question 4

noted a perpetual challeng in promoting
volunteerism in companies in the absence of a policy
regarding volunteerism, itself due to the pervading
assumption that volunteerism comes for free.

Answer 4

Philippine Business for Social
Progress (PBSP)

Question 5

a cost-free commitment to a cause

Answer 5

Volunteerism

Question 6

which are socioeconomic initiatives that belong to neither the traditional
private-for-profit sector nor to the public sector.

Answer 6

Third sector organization (TSO)

Question 7

which is growing and gathering supporters across the
globe as an innovative approach to business activity
offering disadvantaged populations a path to human
development and economic prosperity

Answer 7

Social enterprise movement

Question 8

organization that applies commercial strategies to
maximize improvements in human and environmental
well-being—this may include maximizing social impact
alongside profits for external shareholders.

Answer 8

Social enterprise

Question 9

critical
importance, as it significantly influences the sort of lives
we will lead in the future

Answer 9

Corporate Social Responsibility (CSR

Question 10

any party that has a stake or interest in the
business organization

Answer 10

Stakeholder

Question 11

be viewed as a response to the existence
of entities that are legitimately interested in the behavior
of a company.

Answer 11

Stakeholder perspective

Question 12

fundamentally a theory about
how business works at its best, and how it could work: it
is about value creation and trade and how to manage a
business effectively.

Answer 12

Stakeholder theory

Question 13

indicates that a business is not only responsible to its owners but also has
obligations to various stakeholders, such as employees, customers, business partners, government
and non-governmental organizations

Answer 13

Stakeholder approach

Question 14

was mentioned that the modern corporation
is characterized by various interests: on one hand, those
of the owners or shareholders (called

Answer 14

Principals

Question 15

and,
on the other hand, those of the managers

Answer 15

The Agents

Question 16

the interests
and aims of the agents and principals might clash (this is
called

Answer 16

principal-agent problem

Question 17

wants
human dignity to be defended in the face of its
vulnerability

Answer 17

humanistic paradigm

Question 18

advocates uphold humanity as the
ultimate end and princ

Answer 18

Humanistic management

Question 19

used to refer either to an
activity carried out or to organizations and institutions.

Answer 19

Social enterprise

Question 20

thought to be something new and
something distinct from classical business and traditional
non-profit activity, combining at different extents
elements of the social purpose, the market orientation,
and financial-performance standards of business

Answer 20

Social enterprise

Question 21

are organizations whose mission is to
bridge social opportunity into sustainable reality
innovatively, effectively, and efficiently.

Answer 21

Social enterprise

Question 22

fundamentally a theory about how business works at its
best, and how it could work

Answer 22

Stakeholder theory

Question 23

is about value creation and trade and how to manage a
business effectively.

Answer 23

Stakeholder theory

Question 24

He is the economist who
argues that in a “free
enterprise,
private-property system

Answer 24

Milton Friedman

Question 25

A part of corporate responsibility that refers to gaining money when the revenue received.

Answer 25

Earning profit

Question 26

part of corporate responsibility that involves maintaining or improving financial performance while also making a positive impact on society

Answer 26

Ethical responsibility

Question 27

He is the economist who mentioned that a manager has no right to give company money to social causes when doing so will reduce shareholder’s profits

Answer 27

Milton Friedman

Question 28

A focus on integral human development is part of what type of approach?

Answer 28

Humanistic approach to management

Question 29

those who are driven by a sense of purpose and who align their personal and organizational goals with a higher purpose.

Answer 29

Purpose driven leader

Question 30

Albanian-Indian Catholic nun and the founder of the Missionaries of Charity.

Answer 30

Mother teresa

Question 31

great soul, Gandhi was an Indian lawyer who led his country to freedom from British colonial rule in 1947.

Answer 31

Mahatma gandhi

Question 32

another example of a leader who embraced the principles of servant leadership.

Answer 32

Mother teresa

Question 33

most famous for his philosophy of nonviolence that has inspired civil rights leaders around the world.

Answer 33

Mahatma gandhi

Question 34

for over 45 years, she ministered to the poor, sick, orphaned and dying

Answer 34

Mother teresa

Question 35

a microeconomic concept that states that a firm exists to maximize profits by creating a gap between revenue and costs.

Answer 35

The Neoclassical Theory of the Firm

Question 36

It influences decision-making in areas such as resource allocation, production techniques, pricing adjustments, and the volume of production.

Answer 36

The Neoclassical Theory of the Firm

Question 37

firm sets price and quantity to maximize profit

Answer 37

The Neoclassical Theory of the Firm

Question 38

• It aims to raise the profile of sustainability in business and management education through Seven Principles focused on serving society and safeguarding our planet.

Answer 38

Principle for Responsible management education

Question 39

engages business and management schools to equip future leaders with the skills needed to balance economic, environmental, and social goals.

Answer 39

Prme

Question 40

aims to develop future leaders who can balance economic and sustainability goals.

Answer 40

Prme