Social Responsibility
What does social responsibility mean?
Refers to the duty of a business to contribute to the well-being of a business
What are ethics?
Principals of morality or rules of conduct.
Who oversees interstate commerce?
Federal, State, Local
Federal
What is the government involved in?
Regulating utilities and preventing unfair business practices
Who is Ray Kroc?
Considered the founder of McDonalds
Why do healthy employees benefit employers?
Healthy employees benefit their employers because they are more productive and energetic and have fewer illnesses.
What is one way a code of ethics should be worded?
Clear as possible in order to avoid confusion
What does commerce mean?
Business (buying, selling, trading, etc.)
Why would businesses want to know about a Census?
Help decide where majority of potential customers live
What was the price of a hamburger in 1950s
15 cents
What are two benefits of social responsibility?
Expanded justice for groups of a society
Enhance 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
Determined by its top management
Executives that show strong moral character help set ethicial standards
Educational programs are designed to help employees
Designed to promote employee honesty and integrity.
What are 3 roles of the government?
Buy goods and serives
Raise revenue
Hire public employees
provide services
protect citizens, consumers, business, and workers
What is the percentage of purchases of goods and services does the federal, state, local in the United States
20%
How much did the McDonalds brothers sell their company for?
2.7 Million
1 million for both of them
What are the four types of social responsibilities?
Environmental protection, Workplace Diversity, Employee Wellness, Job Safety
What is the purpose of code of ethics?
The purpose of a code of ethics is to guide actions and decisions of employees or members of an organization
What are the three intellectual properties?
Patents, Copyrights, Trademarks
What is a government bond?
When a person buys a government bond, they are helping fund the services provided by the government.
What was the name of the women Ray Kroc stole from his franchisee?
Joan
What is the ADA?
The Americans with Disabilities Act has caused major improvements to be made toward accommodating workers who are physically challenged.
What are the guidelines you should follow when considering ethics of business situations
Is the action legal?
Does the action violate professional or company standards?
Who is affected by the action and how?
What are the 4 parts a contract must have for it to be official?
Agreement
Competent Parties
Consideration
Legality
Why does government need to raise money? How do they raise the money?
To fund operations and to pay their employees
Fees, Taxes, Borrowing Money
At the end of the movie, Ray Kroc was rehearsing a speech. Who was going to be at the banquet?
hint: Future president