1. What do the terms business ethics and social responsibility mean? Why are they important components of a firm’s overall phi- losophy in conducting business?

2. In what ways do individuals make a difference in a firm’s commitment to ethics? Describe the three stages in which an individual develops ethical standards.

3. What type of ethical dilemma does each of the following illus- trate? (A situation might involve more than one dilemma.) a. Due to the breakup with a client, an advertising agency suddenly finds itself representing rival companies. b. A newly hired employee learns that the office manager plays computer games on company time. c. An employee is asked to destroy documents that impli- cate his or her firm in widespread pollution. d. A company spokesperson agrees to give a press confer- ence that puts a positive spin on his or her firm’s use of sweatshop labor.

4. What are the four major areas in which businesses have responsibilities to the general public? In what ways can meet- ing these responsibilities give a firm a competitive edge?

5. What are the five major areas in which companies have responsibilities to their employees? What types of changes in society are now affecting these responsibilities?