After you have read and studied this chapter, you should be able to

1. Explain why legality is only the first step in behaving ethically.
2. Ask the three questions one should answer when faced with a potentially unethical action.
3. Describe management's role in setting ethical standards.
4. Distinguish between compliance-based and integrity-based ethics codes, and list the six steps in setting up a corporate ethics code.
5. Define corporate social responsibility and examine corporate responsibility to various stakeholders.