RSM100: Chapter 2-Business Ethics and Social
Responsibility Exam | Questions with 100%
Correct Answers | Verified | Latest Update 2026
Save
Terms in this set (54)
Ethics vs. Law Ethics reflects people's proper relations with one
another and how people should treat others.
Meanwhile, laws are more narrow and are written
to protect us from fraud, theft and violence.
Business Ethics Business ethics are the standards of conduct and
moral values that lead to our actions and decisions
(wrong and right) in the business environment.
What else do businesses need to Businesses also must consider a wide range of
consider? social issues, including how a decision will affect
the environment, employees, and customers.
These issues come under and are the heart of CSR
Why are business ethics so Important for organizations that want to do well
important? over the long term. They need to consider it.
, CSR and what is their main Corporate Social Responsibility
objective?
CSR's primary objective is to enhance society's
well-being through philosophies, policies,
procedures, and actions.
In other words, businesses must find a balance
between doing what is right and doing what is
profitable.
Who all should the movement Everyone: consumers, the environment, and the
towards CSR benefit? companies themselves.
Sarbanes-Oxley Act of 2002 In the U.S. this act established new rules and
regulations for securities trading and accounting
practices - to deter and punish corporate and
accounting fraud and corruption.
- Companies are now required to publish their
code of ethics, if they have one, and inform the
public of any changes made to it.
- The law may actually motivate more firms to
develop written codes and guidelines for ethical
business behavior.
- Also designed to protect the interests of workers
and shareholders. The act also established a new
regulatory body for public accounting firms.
Ethics Compliance Officers They are responsible for conducting employee
training programs that help spot potential fraud
and abuse, investigating sexual harassment and
discrimination charges, and monitoring potential
conflicts of interest.
Responsibility Exam | Questions with 100%
Correct Answers | Verified | Latest Update 2026
Save
Terms in this set (54)
Ethics vs. Law Ethics reflects people's proper relations with one
another and how people should treat others.
Meanwhile, laws are more narrow and are written
to protect us from fraud, theft and violence.
Business Ethics Business ethics are the standards of conduct and
moral values that lead to our actions and decisions
(wrong and right) in the business environment.
What else do businesses need to Businesses also must consider a wide range of
consider? social issues, including how a decision will affect
the environment, employees, and customers.
These issues come under and are the heart of CSR
Why are business ethics so Important for organizations that want to do well
important? over the long term. They need to consider it.
, CSR and what is their main Corporate Social Responsibility
objective?
CSR's primary objective is to enhance society's
well-being through philosophies, policies,
procedures, and actions.
In other words, businesses must find a balance
between doing what is right and doing what is
profitable.
Who all should the movement Everyone: consumers, the environment, and the
towards CSR benefit? companies themselves.
Sarbanes-Oxley Act of 2002 In the U.S. this act established new rules and
regulations for securities trading and accounting
practices - to deter and punish corporate and
accounting fraud and corruption.
- Companies are now required to publish their
code of ethics, if they have one, and inform the
public of any changes made to it.
- The law may actually motivate more firms to
develop written codes and guidelines for ethical
business behavior.
- Also designed to protect the interests of workers
and shareholders. The act also established a new
regulatory body for public accounting firms.
Ethics Compliance Officers They are responsible for conducting employee
training programs that help spot potential fraud
and abuse, investigating sexual harassment and
discrimination charges, and monitoring potential
conflicts of interest.
