Final answer:
The correct answer to the student's question is 'c. Ethical responsibility refers to behavior that aligns with moral standards rather than strictly economic or legal imperatives. Situations where ethical and economic responsibilities conflict might require businesses to prioritize moral practices over profit maximization. Emerging technologies pose challenges in establishing ethical norms due to their rapid development and complex societal impacts.
Step-by-step explanation:
The student's question relates to the different types of responsibilities companies may hold. The blank asks for a type of responsibility that isn't always codified in rules and may not serve an organization's profitability. The correct answer is c. Ethical responsibility concerns behavior that is morally right or acceptable. These are not strictly enforced by law but are based on societal norms, individual beliefs, and moral principles that focus on doing the right thing, even if it isn't necessarily profitable or legally required.
Discretionary responsibility, on the other hand, is often seen as voluntary or philanthropic; actions a company might take to give back to the community that are beyond what is ethically, economically, or legally required. This responsibility is often manifested in acts of charity or community engagement.
Consider a business that donates to diverse charities or engages in environmental sustainability practices that go beyond compliance with regulations. The causes supported might not directly increase profits but can build goodwill among consumers and the community. However, at times, ethical and economic responsibilities can come into conflict, such as a situation where a company must decide between higher profits and ensuring fair labor practices.
When it comes to emerging technologies, organizations face challenges in establishing ethical practices due to the rapid pace of technological advancement, making assessment of long-term societal impacts and ethical implications difficult. Corporations should balance respect for community responsibilities and international law principles like state sovereignty, with implementing policies that address social, economic, and environmental problems.