How do ethical principles apply to businesses?

How do ethical principles apply to businesses?

Ethical principles as they apply to the conduct of personnel and business decisions: deal chiefly with standards a company has about what is right and wrong insofar as the conduct of its business is concerned and about what behaviors are expected of company personnel.

Which of the following are major drivers of unethical strategies?

  • Overzealous pursuit of wealth and other selfish interests.
  • A company culture that puts profitability and good business performance ahead of ethical behavior.
  • Heavy pressures on company managers to meet or beat performance targets.
  • General competitive pressures.
  • None of the others.

What are the drivers of unethical strategies and business behavior?

2. Overzealous Pursuit of Personal Gain, Wealth, and Selfish Interests: People who are obsessed with wealth accumulation, greed, power, status, and other selfish interests often push ethical principles aside in their quest for self gain.

Which of the following is not among the major drivers of unethical managerial behavior?

Which one of the following is not among the major drivers of unethical managerial behavior? Poor economic conditions that make it difficult for companies to earn a fair profit unless they engage in unethical behavior.

Which of the following are consequences of pursuing a strategy that has unethical or shady components?

Which of the following are consequences of pursuing a strategy that has unethical or shady components? Government fines and penalties, Legal and investigative costs incurred by the company, Customer defections, Adverse effects on employee productivity, All of these.

Which one of the following is not among the major drivers of unethical managerial behavior quizlet?

Which of the following statements is most accurate investment professionals have a special responsibility to act ethically because?

Investment professionals have a special responsibility to act ethically because: – the industry is heavily regulated. – they are entrusted to protect clients’ assets. – Increased regulations are the most useful means to reduce unethical behavior by market participants.

What is CSR in business ethics?

Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public.

What is the lowest level of social responsibility?

Understanding the Four Levels of CSR

  • Carroll’s pyramid suggests that corporate has to fulfil responsibility at four levels – Economic, Legal, Ethical and Philanthropic.
  • The lowest level of the pyramid represents a business’s first responsibility, which is to be profitable.
  • The second level of the pyramid is the business’s legal obligation to obey the law.

Who summarized the basic principles of social responsibility theory?

The model was designed formally by Siebert, Peterson and Schramm in 1956 in their book. It encourages total freedom to press and no censorship, but it should be regulated according to social responsibilities and external controls. Content is also filtered through public obligation and interference.

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