MINDTAP From Cengage hapter 02: Assignment: The Changing Environment of Organiza
ID: 1137256 • Letter: M
Question
MINDTAP From Cengage hapter 02: Assignment: The Changing Environment of Organizations Choose the correct term for each of the missing labels in this diagram. e Conflicts of interest Secrecy and confidentiality e Honesty Organization e Hiring and firing Wages and working conditions - Privacy and respect Subject to Ethical Ambiguities Advertising and promotions - Financial disclosure -Ordering and purchasing e Shipping and solicitations . Bargaining and negotiation e Other business relationships e Customers e Competitors Stockholders e Suppliers e Dealers e UnionsExplanation / Answer
Answer 1:-
1) Corporate Governance out of the available options is best defined by option number B) The oversight of public corporation by its board of directors.
It helps in setting in place a system of rules, practices and processes by which a firm is directed and controlled.
2) CSR of Corporate Social Responsibility refers to the fact that a firm must consider the benefits it provides to the society while also considering the profit motive which it already has.
It is best defined by option (A) Business living and working together for the common good and valuing human dignity.
3) Ethics are a set of guidelines that a business must follow for it to have justifiable working conditions within or outside the organization. These are generally a must follow for bigger companies and even small companies have started recognizing its responsibilities
Out of the given options it is best described by option D) Bullying may not be illegal, but many companies have enacted policies prohibiting such incivility and abusive behavior in the workplace..
4) The international organization for Standardization:-
This is a prime organization which created a variety of standards that help organizations gain international acceptance of their practice and outcomes.
Answer 2:-
The concept which Nike follows, to inspect its factories in Vietnam is an ethics based issue. Option A in the case is the best answer.
Nike wants to follow a concept, wherein the standards that which it operates on is the best in business.
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