Business 100: Introduction To Business Chapter 4 Quiz

A whistleblower is someone who exposes illegal or unethical behavior within an organization. They are insiders who have knowledge of such activities and choose to report them to the appropriate authorities or the public. Whistleblowers play a crucial role in promoting transparency and accountability, as their actions can help uncover wrongdoing and prevent further harm. They often face risks and backlash for speaking out, but their actions are essential for maintaining integrity and upholding ethical standards.

Corporate philanthropy refers to the act of companies donating money, resources, or services to charitable causes. It is a form of social responsibility where businesses contribute to the betterment of society by supporting various charitable organizations and initiatives. This can include monetary donations, volunteering, or providing in-kind contributions. Therefore, the statement that corporate philanthropy includes charitable donations is true.

Ethics refers to a set of principles or standards of moral behavior that govern an individual's actions and decisions. It encompasses the values and beliefs that guide a person's behavior and help determine what is right or wrong. Ethics is closely related to integrity and character, as it involves making choices based on moral values and doing the right thing even when no one is watching. Therefore, ethics is the correct answer as it encompasses the concept of standards of moral behavior.

An integrity-based ethics code refers to ethical standards that define the guiding values of an organization. It creates an environment that promotes and supports ethical behavior, emphasizing the importance of shared accountability among employees. This code focuses on upholding high moral principles and encourages employees to act with integrity in all aspects of their work.

Corporate policy refers to the set of guidelines and principles that a company follows in order to govern its actions and decisions. It includes various aspects such as ethical standards, code of conduct, and rules for employee behavior. In this context, the correct answer is "the dimension of social responsibility that refers to the position a firm takes on social and political issues." This means that corporate policy includes the stance a company takes on societal and political matters, indicating its commitment to acting responsibly and addressing issues beyond its immediate business interests.

Insider trading refers to the unethical practice of using confidential information about a company to gain personal financial benefits or to benefit others close to the insider, such as family and friends. This activity involves individuals who have access to non-public information, such as company executives or employees, using that information to make trades in the stock market. By doing so, they can take advantage of the information asymmetry and make profits at the expense of other investors who do not have access to such information. This practice is illegal in many countries as it undermines the fairness and integrity of the financial markets.

Social audit refers to a systematic evaluation of an organization's progress in implementing socially responsible and responsive programs. It involves assessing the organization's performance in areas such as environmental sustainability, ethical practices, community engagement, and employee well-being. By conducting a social audit, organizations can identify areas where they need to improve and make necessary changes to align with their social responsibility goals. It helps in ensuring transparency, accountability, and continuous improvement in the organization's social impact.

Corporate social responsibility refers to a business's commitment to operating in an ethical and sustainable manner, taking into consideration the impact of its actions on society and the environment. This includes initiatives such as implementing fair labor practices, reducing carbon emissions, supporting local communities, and engaging in philanthropic activities. It goes beyond mere profit-making and emphasizes the importance of contributing positively to society. Therefore, corporate social responsibility is the most appropriate term to describe a business's concern for the welfare of society.

A compliance-based ethics code is a set of ethical standards that focuses on preventing unlawful behavior within an organization. This is achieved by implementing strict controls and regulations to ensure compliance with laws and regulations. The code also emphasizes the punishment of individuals who engage in unethical or illegal activities, in order to deter others from engaging in similar behavior. This type of ethics code places a strong emphasis on following rules and regulations to maintain legal and ethical behavior within the organization.

Corporate social initiatives are enhanced forms of corporate philanthropy that are directly related to the company's competencies. These initiatives go beyond traditional corporate philanthropy by leveraging the company's expertise, resources, and capabilities to address social and environmental issues. Unlike corporate social responsibility, which encompasses a broader range of activities including ethical business practices and stakeholder engagement, corporate social initiatives specifically focus on using the company's core competencies to create positive social impact.