BUL 4421 CHAPTER 2 QUESTIONS AND CORRECT ANSWERS

BUL 4421 CHAPTER 2 QUESTIONS
AND CORRECT ANSWERS
Social Responsibility of Business ✅✅CORRECT ANSW-The responsibility of firms doing business
within a community to meet the expectations that the community imposes on them.



Stakeholders ✅✅CORRECT ANSW-The groups of people affected by a firm's decisions.



Values ✅✅CORRECT ANSW-Positive abstractions that capture our sense of what is good and
desirable.



WPH Process of Ethical Decision Making ✅✅CORRECT ANSW-A set of ethical guidelines that urges
us to consider whom an action affects, the purpose of the action, and how we view its morality
(whether by utilitarian ethics, deontology, etc.).



Business Ethics ✅✅CORRECT ANSW-The use of ethics and ethical principles to solve business
dilemmas.



Ethical Dilemma ✅✅CORRECT ANSW-A question about how a person should behave that requires
the person to reflect about the advantages and disadvantages of the optional choices for various
stakeholders.



Ethical Guidelines ✅✅CORRECT ANSW-A simple tool to help determine whether an action is
moral.



Ethics ✅✅CORRECT ANSW-The study and practice of decisions about what is good or right.