Final Exam Reviewer | Module 5&6

Question 1

What are the different Historical Perspective on CSR?

Answer 1

Economic Model
Legal Model
Social Model

Question 2

a simplified version of reality that allows us to observe, understand, and make predictions about economic behavior.

Answer 2

Economic Model

Question 3

It assumes that the judge is following the rules and regulations.

Answer 3

Legal Model

Question 4

identifies systemic barriers, negative attitudes and exclusion by society that means the society is the main contributory factor in disabling people.

Answer 4

Social Model

Question 5

Carroll’s 4 Part Definition of Corporate Social Responsibility

Answer 5

Economic
Legal
Ethnical
Philanthropic

Question 6

• Restricts the classic economic goal of profit maximization
• Business is not equipped to handle social activities
• Dilutes the primary purpose of business
• Increases the power of business
• Limits the ability to compete in a global marketplace

Answer 6

Arguments Against Corporate Social Responsibility

Question 7

• Addresses social issues brought on by business, and allows business to be part of the solution
• Protects business self-interest
• Wards off future government intervention
• Addresses issues by using business resources and expertise
• Addresses issues by being proactive
• The public supports CSR

Answer 7

Arguments FOR Corporate Social Responsibility

Question 8

• Demonstrate a commitment to society’s values and contribute to society’s social, environmental, and economic goals through action.
• Insulate society from the negative impacts of company operations and its products and services.
• Share benefits of company activities with key stakeholders as well as with shareholders.
• Demonstrate that the company can make more money by doing the right thing.

Answer 8

Corporate Responsibility in the 21st Century

Question 9

Implies more of a state or condition of having assumed an obligation

Answer 9

Responsibility

Question 10

connotes a dynamic, action-oriented condition

Answer 10

Responsiveness

Question 11

embraces all the facets of corporate social responsibility, responsiveness, and performance. serves a variety of stakeholders.

• A reflection of shared moral and ethical principles
• A vehicle for integrating individuals into the communities in which they work
• A form of enlightened self-interest that balances stakeholders’ claims and enhances a company’s long-term value

Answer 11

Corporate Citizenship

Question 12

means that businesses, in addition to maximizing shareholder value, should act in a manner that benefits society.

companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them. (investopedia)

Answer 12

Socially responsible

Question 13

the practice of selecting investments based on ethical or moral principles.

Ethical investors typically avoid investments from sin stocks, companies involved with stigmatized activities, such as gambling, alcohol, smoking, or firearms. (investopedia)

Answer 13

Ethical investing

Question 14

the set of moral principles by which people conduct themselves personally, socially, or personally, socially, or professionally.

Answer 14

Ethics

Question 15

A set of laws about how a business should conduct itself

Answer 15

Business Ethics

Question 16

‘Everything is mind; The universal is mental’. Your entire reality is a manifestation of your own mind. What you think, is what you become.

Answer 16

The Law of Mentalism

Question 17

As above, so below; There is no separation since everything in the universe is connected. Everything originates from the same One True Source.

Answer 17

The Law of Correspondence

Question 18

‘Nothing rests, everything moves, and everything vibrates’. Everything is energy, including about you. And when you learn how to apply it, you will learn what true freedom means.

Answer 18

The Law of Vibration

Question 19

This are laws you can learn to rise above. There are two sides to everything, or two extreme ends of the same spectrum.

Answer 19

The Law of Polarity

Question 20

Everything flows, everything has its tides, all things rise and fall, what goes up must come down, rhythm compensates.

Answer 20

The Law of Rhythm

Question 21

Every cause has an effect, every effect has its cause, and every action has it’s reaction.

Answer 21

The Law of Cause and Effect

Question 22

Gender is in everything, everything has its masculine and feminine aspects. To be a complete being, one must balance the expression of their masculine and feminine qualities.

Answer 22

The Law of Gender

Question 23

• A set of strict guidelines for maintaining for ethics in the workplace
• Professional groups have their own ______ Examples: Doctors & Lawyers
• Can cover everything from employee behavior to environmental safety

Answer 23

Code Of Ethics

Question 24

Privacy Policies are more than something you should do as a business owner, they are required by law when any company collects private information.

Answer 24

Confidentiality and Privacy Policies

Question 25

Your company may have a dress code or dress policy. What a person wears is part of the value-based code of ethics section.

Answer 25

Professional Appearance Policies

Question 26

It is promoting green and environmentally sounds business practices. The company could require that all products follow environmental standards for people and the environment.

Answer 26

Promoting Green Business Practices

Question 27

Your company could establish, that employees conduct business in a caring and considerate manner.

Answer 27

Caring and Consideration Policies

Question 28

- Unethical business practices affect your business. business practices affect your business. - Violation of government regulations may incur fines or jail time - Violation of a companies s code of ethics might get you fired or you may or you may lose your license - Cheating customers or poor customer service impacts business by repeat customers - Treating employees poorly results in lose of workers and time wasted training new employees.

Answer 28

Ethics as Good Business

Question 29

- is the duty to do what is best for the good of society. - The __________ of business takes into consideration all that businesses to problems of society - Businesses have a ethical obligation to provide safe products, create jobs, protect the environment, and contribute to the overall standard of living in society - An ethical question in business occurs whenever there’s a conflict of interest.

Answer 29

Social responsibility

Question 30

- Customers are a business’s FIRST responsibility. - Businesses should offer a good, safe product or service at a reasonable price. - The Food & Drug Administration (FDA) protects consumers from dangerous or falsely advertised products.

Answer 30

Responsibility to Customers

Question 31

- Businesses have a social responsibility to create jobs. - Businesses encourage volunteerism to tackle societal problems. - Businesses provide work experience for people who haven’t been successful in the workplace. (job placement programs) - The government has also passed laws to protect workers in the workplace. Example: Equal Pay in the Workplace Act & Disabilities Act

Answer 31

Responsibility to Employees

Question 32

- Businesses have environmental responsibility. - The Environmental Protection Agency(EPA) enforces rules that protect the environment and control pollution. - More businesses today consider their social responsibility to be more important than ever.

Answer 32

Responsibility to Society