BMAL-590 Week 2 Business
Ethics/Stakeholder Relationships,
Social Responsibility, and Corporate
Governance Section 4
social responsibility and stakeholder orientation - CORRECT ANSWER-business ethics
embodies standards, norms, and expectations that reflect a concern of major
stakeholders, including consumers, employees, shareholders, suppliers, competitors,
and the community. In other words, these stakeholders have concerns about what is
fair, just, or in keeping with respect to stakeholders' rights.
Many businesspeople and scholars have questioned the role of ethics and social
responsibility in business. Legal and economic responsibilities are generally accepted
as the most important determinants of performance.
ISO (expanded) - CORRECT ANSWER-International Organization for Standardization
ISO - CORRECT ANSWER-tried to establish a corporate responsibility standard, the
ISO 26000; although the ISO 26000 has been demoted to a guideline rather than a
standard
four levels of social responsibility: - CORRECT ANSWER-economic, legal, ethical, and
philanthropic
corporate citizenship: - CORRECT ANSWER-express the extent to which businesses
strategically meet the economic, legal, ethical, and philanthropic responsibilities placed
on them by their various stakeholders.
Corporate citizenship has four interrelated dimensions: - CORRECT ANSWER-strong
sustained economic performance, rigorous compliance, ethical actions beyond what the
law requires, and voluntary contributions that advance the reputation and stakeholder
commitment of the organization.
Federal Sentencing Guidelines for Organizations (FSGO) : - CORRECT ANSWER-
provides incentives for developing an ethical culture and efforts to prevent misconduct.
Primary stakeholders: - CORRECT ANSWER-those whose continued association is
absolutely necessary for a firm's survival; these include employees, customers,
investors, and shareholders, as well as the governments and communities that provide
necessary infrastructure.
Ethics/Stakeholder Relationships,
Social Responsibility, and Corporate
Governance Section 4
social responsibility and stakeholder orientation - CORRECT ANSWER-business ethics
embodies standards, norms, and expectations that reflect a concern of major
stakeholders, including consumers, employees, shareholders, suppliers, competitors,
and the community. In other words, these stakeholders have concerns about what is
fair, just, or in keeping with respect to stakeholders' rights.
Many businesspeople and scholars have questioned the role of ethics and social
responsibility in business. Legal and economic responsibilities are generally accepted
as the most important determinants of performance.
ISO (expanded) - CORRECT ANSWER-International Organization for Standardization
ISO - CORRECT ANSWER-tried to establish a corporate responsibility standard, the
ISO 26000; although the ISO 26000 has been demoted to a guideline rather than a
standard
four levels of social responsibility: - CORRECT ANSWER-economic, legal, ethical, and
philanthropic
corporate citizenship: - CORRECT ANSWER-express the extent to which businesses
strategically meet the economic, legal, ethical, and philanthropic responsibilities placed
on them by their various stakeholders.
Corporate citizenship has four interrelated dimensions: - CORRECT ANSWER-strong
sustained economic performance, rigorous compliance, ethical actions beyond what the
law requires, and voluntary contributions that advance the reputation and stakeholder
commitment of the organization.
Federal Sentencing Guidelines for Organizations (FSGO) : - CORRECT ANSWER-
provides incentives for developing an ethical culture and efforts to prevent misconduct.
Primary stakeholders: - CORRECT ANSWER-those whose continued association is
absolutely necessary for a firm's survival; these include employees, customers,
investors, and shareholders, as well as the governments and communities that provide
necessary infrastructure.
