Business Ethics and Corporate Responsibility Flashcards

What is the primary purpose of business ethics?

Answer: To establish guidelines for responsible business conduct

Business ethics provide guidelines for responsible decision-making and behavior in professional environments.

Which of the following is an example of corporate social responsibility (CSR)?

Answer: Implementing environmentally sustainable practices

CSR involves businesses taking responsibility for their impact on society, such as adopting environmentally sustainable practices.

What is the ethical obligation of a company regarding customer data privacy?

Answer: Ensure data privacy and security for customers

Companies must protect customer data and ensure privacy to maintain trust and comply with regulations.

Why is ethical leadership important in a business?

Answer: It builds trust and enhances company reputation

Ethical leadership fosters trust, enhances company reputation, and ensures fair decision-making.

Which action is considered unethical in workplace management?

Answer: Discriminating against employees based on personal characteristics

Discriminating against employees based on personal characteristics violates ethical business practices and legal regulations.

What should a business do to maintain ethical sourcing practices?

Answer: Ensure suppliers follow ethical labor practices

Ensuring suppliers follow ethical labor practices helps businesses uphold corporate responsibility and prevent exploitation.