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Q:
What are codes of business ethics? Why are they important?
Q:
Briefly discuss the three fundamental ethical approaches that managers should consider?
Q:
What is ethics? Why is it important in business?
Q:
Explain the five principles of successful collaborative social initiatives?
Q:
What is a social audit? What is its purpose?
Q:
How is globalization driving corporate social responsibility?
Q:
How is increasing buyer power affecting corporate social responsibility today?
Q:
How is environmentalism driving corporate social responsibility?
Q:
Discuss the dynamics between CSR and the bottom line?
Q:
Briefly describe the four types of social responsibilities that managers can consider?
Q:
Describe the necessary steps that a firm must take when it attempts to incorporate the interests of various stakeholders?
Q:
Who are stakeholders and why are they important to a firm?
Q:
(p. 82) The ______ principle points up a number of general obligations.
A. Fairness
B. Natural-duty
C. Distributive-justice
D. Liberty
Q:
(p.81) Which principle argues that employees must be expected to engage in cooperative activities according to the rules of the company, assuming that the company rules are deemed fair?
A. Distributive-justice
B. Difference
C. Fairness
D. Liberty
Q:
(p. 81) Which principle is embodied in the Civil Rights Act?
A. Distributive-justice
B. Difference
C. Fairness
D. Liberty
Q:
(p. 81) According to the _____ principle, individuals should not be treated differently on the basis of arbitrary characteristics such as race, sex, religion or national origin.
A. Natural duty
B. Difference
C. Fairness
D. Distributive-justice
Q:
(p. 81) Which of these is NOT an implementing principle essential to the social justice approach?
A. Distributive-justice
B. Fairness
C. Liberty
D. Natural duty
Q:
(p. 81) Which principle holds that social and economic inequities must be addressed to achieve a more equitable distribution of goods and services?
A. Liberty
B. Difference
C. Distributive-justice
D. Fairness
Q:
(p. 81) Managers who take the ______ approach judge how consistent actions are with equity, fairness and impartiality in the distribution of rewards and costs among individuals and groups.
A. Social justice
B. Economic man
C. Moral rights
D. Utilitarian
Q:
(p. 81) Which of these approaches is also referred to as deontology?
A. Utilitarian
B. Moral rights
C. Economic man
D. Social Justice
Q:
(p. 81) Managers who subscribe to the ______ approach judge whether decisions and actions are in keeping with the maintenance of fundamental individual and group rights and privileges.
A. Utilitarian
B. Social justice
C. Economic man
D. Moral rights
Q:
(p. 81) The utilitarian approach focuses on
A. Motives
B. Feelings
C. Actions
D. Reactions
Q:
(p. 81) Managers who adopt the ______ approach judge the effects of a particular action on the people directly involved, in terms of what provides the greatest good for the greatest number of people.
A. Economic man
B. Utilitarian
C. Moral rights
D. Social justice
Q:
(p.81) Which of these is NOT an ethical approach for executives to consider?
A. The utilitarian approach
B. The moral rights approach
C. The Sarbanes-Oxley approach
D. The social justice approach
Q:
(p. 79) Ethics refers to
A. Economic principles
B. Moral principles C. Legal principles
D. Political principles
Q:
(p. 79) At present, the public's perception of the ethics of corporate executives in America is
A. Near its all-time low
B. At the highest level
C. Moderately high
D. Non-existent
Q:
(p. 74) When Starbucks sources much of its bean supply directly from producers, thereby ensuring that those farmers receive fair compensation without being exploited by powerful middlemen, it is an example of which CSI principle? A. Weigh government influence
B. Hiring, motivation and retention
C. Contribute what we do
D. Building and cementing valuable partnerships
Q:
(p. 74) In which of the principles of successful collaborative social initiatives is a mutually beneficial relationship created between the partners?
A. Contribute specialized services to a large-scale undertaking
B. Identify a long-term durable mission
C. Contribute "what we do"
D. Assemble and value the total package of benefits
Q:
(p. 73) For the past 28 years ABC, Inc. has made a significant investment of time, money and other resources to increase the literacy rate in adult Americans. This represents which of these principles of successful collaborative social initiatives?
A. Weight government influence
B. Identify a long-term durable mission
C. Assemble and value the total package of benefits
D. Leverage core capabilities
Q:
(p. 73) Which of these is a social challenge that will demand attention for years to come?
A. Competitive environment
B. Police brutality
C. Corporate profitability
D. Substandard education
Q:
(p. 72) Which of these is NOT a principle of successful collaborative social initiatives?
A. Eliminate government influence
B. Leverage core capabilities: contribute "what we do"
C. Identify a long-term durable mission
D. Contribute specialized services to a large scale undertaking
Q:
(p. 72) Beyond enhanced reputation, CSR activities
A. Have been found to be a total resource drain
B. Potentially have no other impact in an organization
C. Can be a tool to attract, retain and develop managerial talent
D. Have been responsible for bailing firms from regulatory compliance
Q:
(p. 71) The term social initiative describes initiatives that take a
A. Collaborative approach
B. Combative approach
C. Corporate approach
D. Global approach
Q:
(p. 71) With regards to CSR business have all of these support options except:
A. Donation of cash or material
B. Creation of a functional operation within the company to assist explained charitable efforts
C. Development of a collaborative approach
D. Outsource the function to a competitor
Q:
(p. 71) Philanthropy without active engagement
A. Is the best corporate move to satisfy the governmental regulations
B. Helps organizations win the competitive war on consumerism
C. Has been criticized as narrow and self-serving
D. Is like mission without vision
Q:
(p. 71) According to research, the primary vehicle for achieving superior financial performance from social responsibility is via
A. Gift giving
B. Global marketing efforts
C. Internal audit effects
D. Reputation effects
Q:
(p. 71) Recent research has found that, on balance, ______ relationships can be expected from CSR.
A. Negative
B. Positive
C. No
D. Inverse
Q:
(p. 70) The CSR debates have surfaced in a more positive way in the last 30 years due to which of these?
A. Government mandates
B. Competitive pressures
C. New businesses set up shop with altruism in mind
D. Declining shares of U.S. businesses in the global markets
Q:
(p. 70) A form of engagement in which companies provide on-going and sustained commitments to a social project or issue refers to
A. CSI
B. CSR
C. Social audit
D. Economic responsibilities
Q:
(p. 79) Which of these refers to the moral principles that reflect society's beliefs about the actions of an individual or group that are right and wrong?
A. CSR
B. Social audit
C. Ethics
D. Utilitarian approach
Q:
(p. 69) In addition to monitoring and evaluating firm social performance, managers use social audits for all of these EXCEPT
A. Scan the external environment
B. Obtain governmental subsidies for their operations
C. Institutionalize CSR within the firm
D. Determine firm vulnerabilities
Q:
(p.67-68) Which of these is NOT true about social audit?
A. Given the availability of complete information and programs, to be comprehensive and accepted by the general public, a social audit must be conducted by the company itself
B. A social audit attempts to measure a company's actual social performance against the social objectives it had set for itself
C. The social audit may be used for more than simply monitoring and evaluating firm social performance
D. Once the social audit is complete, it may be distributed both internally and externally
Q:
(p. 67) Which of these attempts to measure a company's actual social performance against the social objectives it has set for itself?
A. Social audit
B. Mission statement
C. Sarbanes-Oxley Act
D. Discretionary responsibilities
Q:
How do moral hazard and adverse selection cause agency problems?
Q:
Define agency theory. What are agency costs?
Q:
Who are the board of directors? What are their major responsibilities?
Q:
Identify and briefly explain the newest trends in mission components.
Q:
What is meant by company self-concept? Why is it an important mission statement component?
Q:
When a mission statement is redefined or revised, what components should be present? Explain.
Q:
Briefly describe the process of defining the company mission for a specific business.
Q:
Define mission statement. Describe the importance of developing an explicit mission statement.
Q:
(p. 40) Backloaded compensation refers to
A. Board of directors getting back stock as compensation
B. Executives receiving handsome premium for superior future performance
C. Suppliers getting bonuses for organization's performance
D. Managers getting bonuses for past performances
Q:
(p. 40) Which of these represent a solution to the agency problem?
A. Backloaded compensation for executives
B. Separate the interests of the owners and agents
C. Minimize executive risk-taking
D. Focus performance measures on personal goals of executives
Q:
(p. 39) Managers stature in the business community is commonly associated with company
A. type
B. age
C. size
D. growth
Q:
(p. 39) Which of the following is NOT a problem resulting from agency?
A. Executive attempt to diversify their corporate risk
B. Executives avoid risks
C. Executives pursue growth in company earnings rather than size
D. Executives act to protect their status
Q:
(p. 39) Which of these represent the most popular solution to moral dilemma and adverse selection problems?
A. To more closely align the owners and agents interests through the use of executive bonus plans
B. To allow the managers to act more as hired-hands only
C. To remove vision components from mission
D. To ensure board of directors report and work for the CEO
Q:
(p. 39) An agency problem caused by the limited ability of stockholders to precisely determine the competencies and priorities of executives at the time they are hired refers to
A. Self-concept
B. Adverse selection
C. Moral hazard problem
D. Concern for quality
Q:
(p. 38) When executives manipulate personnel records to keep or acquire key company personnel, this is an example of
A. Moral hazard problem
B. Adverse selection
C. Self-concept
D. Concern for quality
Q:
(p. 38) When owners have limited access to company information making executives free to pursue their own interests, it could lead to
A. Moral hazard problems
B. Adverse selection
C. Self-concept
D. Concern for quality
Q:
(p. 38) When executives presell products at year-end to trigger their annual bonuses even though the deep discounts that they must offer will threaten the price stability of their products for the upcoming year, this is an example of
A. Moral hazard problem
B. Adverse selection
C. Self-concept
D. Concern for quality
Q:
(p. 40) When executives unrealistically assess acquisition targets outlooks in order to increase the probability of increasing organizational size through their acquisition, this is an example of
A. Moral hazard problem
B. Adverse selection
C. Self-concept
D. Concern for quality
Q:
(p. 38) Which of these conditions is also called shirking?
A. Moral hazard problems
B. Adverse selection
C. Self-concept
D. Concern for quality
Q:
(p. 38) Which of these conditions is also called self-interest combined with a smile?
A. Moral hazard problems
B. Adverse selection
C. Self-concept
D. Concern for quality
Q:
(p. 38) The cost of agency problems and the cost of actions taken to minimize them are called
A. Moral hazard problems
B. Adverse selection
C. Company creed
D. Agency costs
Q:
(p. 38) In general, ____ seek stock value maximization.
A. Employees
B. Hired-hand managers
C. Owners
D. Suppliers and distributors
Q:
(p. 38) Agency problems arise when the interests of owners and managers
A. diverge
B. converge
C. are compatible
D. are similar
Q:
(p. 38) _______ delegate authority to ______
A. owners; managers
B. managers; owners
C. managers; suppliers
D. customers; managers
Q:
(p. 38) Whenever there is a separation of the owners (principals) and the managers (agents) of a firm, the potential exists for the wishes of the ____ to be ignored.
A. owners
B. managers
C. employees
D. customers
Q:
(p. 38) A set of ideas on organizational control based on the belief that the separation of the ownership from management creates the potential for the wishes of owners to be ignored is known as
A. Agency theory
B. Adverse selection principle
C. Moral hazard problem
D. Self concept
Q:
(p. 36) The board of director's greatest impact on the behavior of a firm results from its
A. Industry experience
B. Dependence on the CEO
C. Determination of company mission
D. Mandate of company compliance with legal and ethical dictates
Q:
(p. 36) Which of these is NOT a responsibility of the board of directors?
A. To establish and update the company mission
B. To mandate company compliance with legal and ethical dictates
C. To determine the amount and timing of the dividends paid to stockholders
D. To work under the guidance of the CEO
Q:
(p. 36) In overseeing the management of a firm, the board of directors operates as representatives of the
A. Governmental agencies
B. Firms stockholders
C. Firms employees
D. Top management
Q:
(p. 36) A companys Board of Directors is elected by its
A. managers
B. stockholders
C. customers
D. employees
Q:
(p. 36) The strategic managers at the highest level of the organization:
A. Review employee complaints
B. Declare the firm's sense of values
C. Are appointed
D. Prepare budgets
Q:
(p. 36) Which group of strategic managers is responsible for overseeing the creation and accomplishment of the company mission?
A. Front-line supervisors
B. Middle-managers
C. Board of directors
D. Employees
Q:
(p. 36) The strategic decision makers in the firm are responsible for:
A. The firm's mission
B. Rewards
C. Plant efficiency
D. Daily operations
Q:
(p. 34) _______ is often a single sentence, designed to be memorable. A. Mission statement
B. Agency theory
C. Adverse selection
D. Vision statement
Q:
(p. 33) _______ presents the firms strategic intent.
A. Mission statement
B. Agency theory
C. Adverse selection
D. Vision statement
Q:
(p. 33) _______ represents a statement that is sometimes developed to express the aspirations of the executive leadership.
A. Mission statement
B. Agency theory
C. Adverse selection
D. Vision statement
Q:
(p. 34) _______ represents a statement that presents a firm's strategic intent designed to focus the energies and resources of the company on achieving a desirable future.
A. Mission statement
B. Agency theory
C. Adverse selection
D. Vision statement