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Chapter-four

QuestionAnswer
What is social responsibility? The duty of a business to contribute to the well being of a community.
How might a business show social responsibility? Proctect the environment, minorities and women in the workplace, employment of the physically challenged and older workers, and a healthy and safe working environment.
What is a non-renewable resource? Name an example. A natural resource that cannot be replaced when used up. Examples: Oil, gas, copper, and iron ore.
What is pollution, and what do businesses do to take action against pollution? When the environment is tainted with the by products of human actions. They design new equipment, and set standards for water and air quality.
What is conservation? A saving of scarce natural resources.
What is the main challenge in a diverse workforce? Finding new ways to manage a work force made up of the diverse cultures in society.
What are some of the comman benefits of socially responsible activities? Expanded justice for groups of a society, Enhanced company image, Reduced need for government actions, Improved quality of life in a community and around the world, Increased awareness of social issues among workers, consumers, and others.
What are Ethics? Principles of morality or rules of conduct.
What are Business ethics? Rules about how businesses and their employees ought to behave.
What are code of ethics? A set of rules for guiding the actions of employees or members of an organization. Address topics such as confidentiality of business information.
What is a contract? An agreement to exchange goods or services for something of value, usually money.
What is a patent? A license that gives the inventor the sole right to make, use, or sell the item for seventeen years.
What does a copyright do? Protects the creative work of authors, composers, and artists.
What is a trademark? A word, letter, or symbol linked with specific company or product.
What is a public utility? An organization that supplies a service or product vital to all people.
What is a monopoly? When a business has control of the market for a product or service.
What is a antitrust law? A law that prevents other unfair business practices such as false advertising.
Created by: stephhansen