Customers, creditors, suppliers, workers, and the community in which a company works are all referred to as a. stakeholders.
Similarly, What is defined as all the parties which interact with the business?
Stakeholder. Which of the following words is described as “all stakeholders involved in the business“?
Also, it is asked, What is the ethical principle called where a business makes a decision that helps improve society and has a positive impact on the environment?
Corporate social responsibility blends corporate citizenship with a commitment to making ethical judgments, helping society, and reducing environmental impact.
Secondly, What is CSR quizlet?
What exactly is CSR? The management commitment to safeguard and enhance both the welfare of society as a whole and the interests of corporations is known as corporate social responsibility. A company’s responsibility is to have a good influence on society while minimizing its negative impact.
Also, Is the concept that is defined as the minimum ethical behavior required to comply with the law?
Minimum ethical standards. The bare minimum of ethical conduct that society expects, which is commonly described as following the law.
People also ask, Which of the following terms is defined as duties and obligations of businesses which contribute to the well being of society business moral responsibility?
Social and Business Responsibility Businesses’ responsibilities and duties that contribute to society’s well-being.
Related Questions and Answers
Which of the following terms is defined as conducted in accordance with what a person determines is right versus wrong?
Moral Conduct. Conduct that is determined to be right or bad by the individual. Legal Conduct.
What is the role of business ethics in improving corporate strategy and community development?
The basic goal of business ethics is to provide individuals with the tools they need to cope with moral dilemmas. In a firm, ethical judgments may result in a happy workforce, more sales, lower regulatory costs, more consumers, and increased goodwill.
What is ethics and corporate social responsibility?
Whereas business ethics refers to the moral principles and standards that govern business behavior, corporate social responsibility (CSR) is a management concept that establishes responsible behavior within a company, as well as its objectives, values, and competencies, as well as the interests of.
What is CSR full form?
CSR, or corporate social responsibility, is the idea that a company has a duty to do good. CSR refers to a company’s ability to self-regulate and be socially responsible to its customers, stakeholders, and the general public.
What is CSR summary?
CSR refers to a company’s ongoing commitment to act ethically and contribute to economic growth while also enhancing the quality of life of its employees and their families, as well as the local community and society at large.
What are the 5 code of ethics?
It is organized into three parts and is based on the five core concepts of Integrity, Objectivity, Professional Competence and Due Care, Confidentiality, and Professional Behavior.
What are the 5 ethical standards?
Moral Guidelines Each of the five principles, autonomy, justice, beneficence, nonmaleficence, and faithfulness, is a self-contained absolute truth.
When was the ethics Resource Center ERC established?
The Ethics Resource Center (ERC) is America’s oldest nonprofit organization dedicated to the development of high ethical standards and practices in public and private organizations, having been established in 1922. ERC has been a resource for companies dedicated to a strong ethical culture for 88 years.
Which is an example of an ethical decision?
Ethical conduct implies that one be truthful and frank in all written and spoken exchanges. A salesman who discloses possible product flaws is being truthful. A customer care person who accepts responsibility for failing to complete a service activity is acting ethically.
Which of the following types of choices are made based on moral principles and values quizlet?
Legal decisions are made based on the law, while ethical decisions are made based on moral principles and ideals.
What is the difference between ethical business practices and legal practices?
Human notions of right and evil underpin ethical norms. The following are the distinctions between them: Ethical standards are based on human rights and wrongs, whereas legal standards are based on written legislation. It is possible for something to be legal yet unethical.
How are values and ethics related to culture?
The moral principles and ethical conventions that regulate how individuals should behave and interact with others are reflected in culture.
Which of the following is the first step of the ethical decision making process?
Identifying a problem is the first stage in the decision-making process, which entails examining the issue more deeply and understanding its origin.
What is business ethics quizlet?
Ethics in business. the study of business circumstances, actions, and choices in which ethical considerations are raised. Morality. Norms, norms, and ideas that define right and wrong in social processes.
What is business ethics and customer relations?
Consumer relations and business ethics refer to how a company communicates its goods and handles customer concerns.
What is corporate governance strategic management?
In strategic management, corporate governance refers to a system of internal rules and procedures that dictate how a firm is run. For example, corporate governance determines which strategic choices may be made by management and which must be made by the board of directors or shareholders.
What corporate responsibility means?
The influence of a company on society, the environment, and the economy is referred to as corporate responsibility (CR). An successful CR program benefits all stakeholders while also providing value to the organization and ensuring its long-term viability.
What is ethics and responsibility?
Definition: Ethical responsibility is the capacity to perceive, understand, and act on different principles and values within a specific area and/or setting according to the standards.
Who is responsible for ethics in an organization?
Of course, managers are accountable for their own actions and judgments in terms of ethical norms. Managers may be required to follow a distinct professional code of ethics in addition to the organization’s ethical code, depending on their job, duties, and training.
What are the 4 types of CSR?
Environmental, charitable, ethical, and economic responsibility are the four classic types of corporate social responsibility.
What is the meaning of CSR in call center?
Representative of Customer Service
What is CSR policy?
CSR (Corporate Social Responsibility) is a concept in which businesses behave in the public interest by assuming responsibility for the effect of their operations on customers, workers, shareholders, communities, and the environment in all areas of their operations.
Why CSR is important in business operation?
“To secure a sustainable future, CSR helps organizations to exhibit their principles, engage their staff, and communicate with the public about how they operate and the decisions they make.”
What is corporate governance?
The mechanism through which firms are directed and governed is known as corporate governance. The governance of their businesses is the responsibility of their boards of directors. The responsibility of the shareholders in governance is to nominate the directors and auditors, as well as to ensure that a suitable governance framework is in place.
The “Sarbanes-Oxley Act” is a law that was designed to protect the investors and creditors of a business. The act also protects customers, suppliers, employees, and the community in which a business operates.
This Video Should Help:
- ethics can be defined as the study of
- corporate social responsibility (csr) is:
- a triple bottom line considers each of the following, except:
- compliance with the law is sometimes called the
- why is it important to monitor the employment practices of foreign suppliers?