This document contains 8 questions about business ethics concepts. It asks about defining ethics, the differences between illegal and unethical behaviors, examples of each, global warming and strategies businesses can take to address it, defining and providing an example of greenwashing other than BP, describing price fixing behavior, explaining and giving an example of insider trading, discussing if a code of conduct alone ensures ethics and possible additional solutions, and which approach to social responsibility a business should take.

1. Intro to Business Exercise 3.0
1. Define the term “ethics”. Does everyone view ethics or morality in the same way?
Why or why not? Can you give an example to illustrate this?
2. What is the difference between doing something “illegal” and something
“unethical”? What (example of) behaviour is considered both illegal and
unethical? Legal but unethical? Illegal but ethical?
3. What is global warming? Suggest ONE (1) negative effect that may arise from
global warming. If you are a business owner, what are some of the measures you
can take to counter it? Suggest TWO (2) strategies. (Note: you need to conduct
research for this question)
4. What is greenwashing? Explain and provide ONE (1) example (other than the BP
case).
5. Aman, Christian and Alice are the only sellers of architectural drawing materials
in the market, and they recently agreed to raise the price of their products
together by 25%. Describe the behaviour they are engaging in. Also, why is it
illegal and unethical for them to do so?
6. Explain the term “insider trading”. Also, provide ONE (1) example of your own to
illustrate your explanation.
7. Sabrina has recently written a set of employee code of conduct for her business.
Is the code alone sufficient to ensure ethical behaviours of her employees? Why
or why not? If not, what can she do about it? Suggest TWO (2) solutions.
8. If you are running a business, which social responsibility approach would you
adopt (obstructionist, proactive, etc.)? Why?