Social Responsibility & Ethics
The duty of a business to contribute positively to society and balance profit with community welfare.
What is social responsibility?
What is the main role of government in business?
To regulate and protect consumers, workers, and the environment.
A person who has no permanent or full-time position, such as temporary or contract employees is what kind of worker?
Contingent Worker
Name the 3 basic forms of business ownership.
Proprietorship, partnership, corporation
A diagram showing reporting relationships and job positions is called an...
Organization Chart
Name two examples of environmental responsibility.
Conservation of resources and pollution prevention.
Distinguish interstate from intrastate commerce.
Interstate: crosses state lines
Intrastate: stays within one state
Name one major workforce trend in the U.S.
Aging Workforce
Increased diversity
Growth of service jobs
Advantage of a proprietorship?
Owner keeps all profits and makes all decisions.
The management principle that states each employee should be accountable and report to only one supervisor.
Unity of command
What federal law protects employees from unsafe work conditions?
OSHA...The Occupational Safety and Health Act.
A legally enforceable agreement between two or more parties is called a...
Contract
Name two examples of employee wellness programs.
Fitness memberships
mental-health support
smoking-cessation incentives
Disadvantage of a proprietorship?
Unlimited personal liability.
The number of employees supervised by one manager is referred to as what measure?
Span of Control
Rules about how businesses and employees should behave morally and legally is called...
Business ethics.
Name the four elements of a valid contract.
Agreement, consideration, capacity, legality
Hiring and promoting based on merit without discrimination is called:
Equal Opportunity
A business owned by shareholders with limited liability and a separate legal identity is called a...
corporation
Functional is organized by department/job type
Matrix uses project-based cross-functional teams.
When personal gain interferes with professional judgment or company duty, we call this a...
Conflict of interest
Intellectual property is protected by law in 3 ways...
Patents, copyrights, trademarks
Which law prohibits age discrimination against workers over 40?
The Age Discrimination in Employment Act (ADEA)
The right to operate a business using another company's name and system/operating procedures.
Franchise
A short, specific written description of a business's purpose and direction is called the...
mission statement
These are restricted by law because they reduce competition and can exploit consumers.
Monopolies
Define the relationship between responsibility, authority, and accountability.
Authority = right to act
Responsibility = duty to perform
Accountability = answer for results