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Business Ethics
Q:
Situational characteristics affect the degree to which we are willing to be influenced by others' unethical behavior
(A) True
(B) False
Q:
Penalties for not performing to a certain level can pressure people to act unethically
(A) True
(B) False
Q:
Stakeholders who have a high potential for cooperation and a low potential for threat to the firm are known as ____ stakeholders.
a. mixed blessing
b. supportive
c. nonsupportive
d. marginal
Q:
Which of the firm's social responsibilities is not relevant in analyzing management's duties to stakeholders?
a. economic
b. legal
c. ethical
d. philanthropic
Q:
There is no point in studying ethics because we all know what is right; it's just a matter of doing what is ethical.
(A) True
(B) False
Q:
Managerial ethics and business ethics are essentially the same thing.
(A) True
(B) False
Q:
Which of the following is not listed as a question to ask in order to gain the essential information needed for stakeholder management?
a. Who are our stakeholders?
b. What do our stakeholders want?
c. What are our stakeholders' stakes?
d. What opportunities and challenges do our stakeholders present to the firm?
Q:
A/n ________ occurs when a decision must be made in the midst of conflicting interests; sometimes there is no simple right and wrong answer.
(A) shortfall
(B) alternative strategy
(C) ethical dilemma
(D) justification
(E) moral development
Q:
Responsibilities for stakeholder management include all of the following except
a. social.
b. ethical.
c. philanthropic.
d. economic.
Q:
Which statement is not a myth about business ethics?
(A) Business ethics is simple; just follow a guide such as "don't do anything you wouldn't want to appear on the front page of the newspaper."
(B) There is no point in studying ethics because we all know what is right; it's just a matter of doing what is ethical.
(C) Ethics is just a matter of opinion.
(D) We learn ethics as kids and really can't change our behavior to be more ethical as adults.
(E) Ethics can be learned and taught.
Q:
Which of the following is not considered an important function of stakeholder management?
a. to lead
b. to understand
c. to analyze
d. to manage
Q:
Which statement about the levels of moral development is not true?
(A) At the third level, postconventional, behavior is motivated by doing the right thing, even at the risk of alienating the group.
(B) At the highest level, superconventional, behavior is motivated by doing greater good, even to the point of breaking the law.
(C) At the highest level, behavior is meeting the group's expectations to fit in by copying others' good behavior.
(D) At the lowest level of moral development, preconventional, behavior is motivated by self-interest—seeking rewards and avoiding punishment.
(E) At the second level, conventional, behavior is motivated by meeting the group's expectations to fit in by copying others' behavior.
Q:
The challenges of stakeholder management include all of the following except
a. assuring that the firm's primary stakeholders achieve their objectives.
b. seeing to it that the firm's secondary stakeholders are treated ethically and are relatively satisfied.
c. making the firm profitable.
d. maintaining strong relations with governmental stakeholders.
Q:
List five of the ten general guidelines to ethical decision making.
Q:
Which of the following is not seen as a value of the stakeholder model of the firm?
a. It is descriptive.
b. It is instrumental.
c. It is judgmental.
d. It is normative.
Q:
What is conflict of interest?
Q:
The view of stakeholders that recognizes the firm's moral responsibilities to all stakeholders, but that they should not be seen as fiduciary obligations is called the
a. strategic approach.
b. multifiduciary approach.
c. symbiotic approach.
d. stakeholder synthesis approach.
Q:
Explain the relationship between business ethics and ethical dilemmas.
Q:
Stakeholders that are perceived to have high levels of power, legitimacy, and urgency are referred to as
a. dormant stakeholders.
b. demanding stakeholders.
c. discretionary stakeholders.
d. definitive stakeholders.
Q:
Describe the differences between universal and relativism ethics.
Q:
The view of stakeholders that sees them as more than just people or groups who can wield economic or legal power is the
a. strategic approach.
b. multifiduciary approach.
c. symbiotic approach.
d. stakeholder synthesis approach.
Q:
Which of the following are elements in the three-way ethics test?
(A) Virtues test
(B) Antifraud test
(C) Industrial test
(D) Generalization test
(E) Utilitarian test
Q:
Who were credited with developing the first ethics theory?
(A) Thomas Jefferson
(B) St. Francis of Assisi
(C) René Descartes
(D) Aristotle
(E) Plato
Q:
The degree to which a stakeholder's claim requires immediate response is its
a. power.
b. legitimacy.
c. urgency.
d. coercion.
Q:
A stakeholder's ability or capacity to produce an effect within the firm is called its
a. power.
b. legitimacy.
c. urgency.
d. coercion.
Q:
Which of the following is not among the questions in the "Five Question Test"?
(A) Will it lose my company money?
(B) Is it legal?
(C) Is it right and fair?
(D) Would I want everyone to know it?
(E) Will I get caught?
Q:
Which of the following would be considered external pressure or cross-cultural inconsistency?
(A) Stakeholder satisfaction
(B) Peer pressure
(C) Penalties for not performing
(D) Pressure from management
(E) Global differences in perceptions of what constitutes ethical practices
Q:
The perceived validity or appropriateness of a stakeholder's claim is referred to as
a. power.
b. legitimacy.
c. urgency.
d. coercion.
Q:
What are the different classifications of managers regarding morals?
(A) Moral managers
(B) Amoral managers
(C) Immoral managers
(D) Conscientious managers
(E) Top shelf managers
Q:
Which of the following is not an attribute upon which managers judge the importance of stakeholders?
a. power
b. urgency
c. legitimacy
d. nationality
Q:
What statements are true regarding management ethics and business ethics?
(A) Management ethics and business ethics are essentially the same.
(B) Managerial ethics differs from business ethics because managers are not only responsible for their individual behavior at work; they have ethical responsibilities because of their position.
(C) Managers need only answer to the ethical questions involving their employees.
(D) Managers are responsible for developing moral standard policies and procedures to guide employee behavior and for ensuring that their employees behave ethically.
(E) Managers face more stakeholders with conflicting interests than employees.
Q:
If we consider the stakeholder typology, and the three attributes of power, group number one on the top outside is called:
a. A dormant stakeholder
b. A dangerous stakeholder
c. A demanding stakeholder
d. A nonstakeholder
Q:
Which statements about the levels of moral development are correct?
(A) At the lowest level of moral development, preconventional, behavior is motivated by self-interest—seeking rewards and avoiding punishment.
(B) At the second level, conventional, behavior is motivated by meeting the group's expectations to fit in by copying others' behavior.
(C) At the third level, postconventional, behavior is motivated by doing the right thing, even at the risk of alienating the group.
(D) At the fourth level, hyperconventional, ethical behavior is ignored altogether.
(E) At the highest level, superconventional, behavior is motivated by doing greater good, even to the point of breaking the law.
Q:
"Do unto others as you would have them do unto you" is known as __________.
(A) correct moral level
(B) affirmative action
(C) disclosure
(D) the path to ethical righteousness
(E) the Golden Rule
Q:
Phrases like "financial deficit," "negative cash flow," or "creative financing" are examples of _________.
(A) Advantage comparison
(B) Euphemistic labeling
(C) Diffusion of responsibility
(D) Efficient communication
(E) Relativism ethics
Q:
A group of people who represents the interests of a nonhuman species (such as the natural environment) and does not have a direct stake in the firm is known as
a. primary social stakeholders.
b. secondary social stakeholders.
c. primary nonsocial stakeholders.
d. secondary nonsocial stakeholders.
Q:
Which of the following is not a thinking process to justify unethical behavior?
(A) Relativism ethics
(B) Conventional justification
(C) Critical thinking
(D) Displacement of responsibility
(E) Diffusion of responsibility
Q:
A nonhuman species (such as the spotted owl) that holds a direct stake in a firm is called a
a. primary social stakeholder.
b. secondary social stakeholder.
c. primary nonsocial stakeholder.
d. secondary nonsocial stakeholder.
Q:
_________ is the process of convincing oneself that a decision is rational and ethical, when in fact it really serves self-interest or provides an easy way out of the ethical dilemma.
(A) Denying a problem exists
(B) Turning a deaf ear
(C) Labeling blame
(D) Justifying unethical behavior
(E) Ethical rationalization
Q:
A group of people who is able to influence the firm, but does not hold a direct stake in is known as
a. primary social stakeholders.
b. secondary social stakeholders.
c. primary nonsocial stakeholders.
d. secondary nonsocial stakeholders.
Q:
________ occurs when an individual's self-interest conflicts with behaving in the best interest of another when obligated to do so.
(A) Moral turpitude
(B) Conflict of interest
(C) Peer pressure
(D) Corporate oversight
(E) Virtuous ethics
Q:
A group of people who holds a direct stake in the firm is known as
a. primary social stakeholders.
b. secondary social stakeholders.
c. primary nonsocial stakeholders.
d. secondary nonsocial stakeholders.
Q:
We should be honest because honesty is ethical and dishonesty is unethical behavior.
(A) True
(B) False
Q:
Which of the views of the firm recognizes the fewest stakeholders and is the least complex?
a. production view
b. managerial view
c. ownership view
d. stakeholder view
Q:
How has the meaning of affirmative action changed in the past 40 years?
Q:
Which of the views of the firm recognizes the most stakeholders and is the most complex?
a. production view
b. managerial view
c. ownership view
d. stakeholder view
Q:
If a firm is maximizing profits while obeying the law, it is at the _______ level of CSR.
(A) ethical
(B) legal
(C) benevolent
(D) awkward
(E) reasonable
Q:
The view of the firm that recognizes a wide variety of groups as stakeholders is the
a. production view.
b. managerial view.
c. ownership view.
d. stakeholder view.
Q:
Which statement is not an argument "against" corporate social responsibility?
(A) Society expects business to be socially responsible.
(B) A business involved in social issues can lose its focus on operating as effectively as possible.
(C) Dealing with social problems is the job of the government, not business.
(D) Competitors who are less socially responsible may gain a cost advantage.
(E) The sole responsibility of business is to maximize profits while obeying the law.
Q:
The view of the firm that recognizes suppliers, customers, employees, and owners as stakeholders is the
a. production view.
b. managerial view.
c. ownership view.
d. stakeholder view.
Q:
Which statement is not an argument "for" corporate social responsibility?
(A) Being socially responsible promotes business long-term self-interest.
(B) CSR improves business value and reputation—public sentiment.
(C) The cost of social responsibility is passed on to stakeholders so everyone benefits.
(D) Society expects business to be socially responsible.
(E) CSR discourages government regulation.
Q:
The view of the firm that recognizes just suppliers and customers as stakeholders is the
a. production view.
b. managerial view.
c. ownership view.
d. stakeholder view.
Q:
_____ includes business activities in society and occurs when a societal interest group brings an issue to the business.
(A) Awareness
(B) Performance
(C) Responsiveness
(D) Social responsibility
(E) Citizenship
Q:
Which of the following is not recognized as a type of stake?
a. an interest
b. an option
c. a right
d. ownership
Q:
________ is the conscious effort to operate in a manner that balances stakeholder interests.
(A) Corporate structure
(B) Intelligent corporate design
(C) Cause-related marketing
(D) Corporate social responsibility
(E) Corporation benevolence
Q:
An individual or group who can affect or be affected by an organization is a(n)
a. stakeholder.
b. stockholder.
c. shareholder.
d. owner.
Q:
Clearly, to benefit from CSR, responsiveness, and citizenship activities, CSP must be effectively communicated.
(A) True
(B) False
Q:
The EEOC minority guidelines identify Hispanics, Asians, African Americans, Native Americans, Alaskan natives, and women as minorities protected under the law.
(A) True
(B) False
Q:
Any type of stake can be viewed as a(n)
a. option.
b. ownership position.
c. right.
d. duty.
Q:
The triple bottom line is a stakeholder approach to assessing financial, social, and environmental performance.
(A) True
(B) False
Q:
Which of the three bottom lines encompassed by the Triple Bottom Line do you consider most important? Explain your answer.
Q:
Security and Exchange Commission (SEC) requires corporate financial reporting and that social or environmental reporting be included in the annual report.
(A) True
(B) False
Q:
Are the awards described in the textbook effective ways of promoting the idea of corporate social performance? Why or why not?
Q:
Global markets dictate that multinational corporations (MNC) harmonize CSR.
(A) True
(B) False
Q:
The primary argument for corporate social responsibility states that for business to have a healthy climate in which to operate in the future, it must take current action to assure its long-term viability. Is this long-range self-interest argument valid? Does it encompass all that society wants from business?
Q:
Each MNC needs to carefully tailor its CSR activities to meet the expectations and legal requirements of each country in which it does business.
(A) True
(B) False
Q:
The Generous Corporation argues that corporations began their philanthropic activities primarily out of self-interest. By doing so, they are able to keep government from intervening in their business activities and imposing more regulations on them. Assuming that this argument is valid, and the firms' motives are primarily self interested, evaluate whether or not the motives are important. That is, are firms' philanthropic activities less valuable because they are motivated by self interest? Explain your answer.
Q:
A company may be selling products that are not illegal but are not ethical by some standards.
(A) True
(B) False
Q:
Distinguish between the concepts of corporate social responsibility, corporate social responsiveness, corporate social performance, and corporate citizenship. How are these ideas different from each other? How are they similar?
Q:
Regarding levels of CSR, a firm must be on the same levels for all for issues.
(A) True
(B) False
Q:
Describe socially responsible investing.
Q:
In the economic theory of Milton Friedman, a firm is being socially responsible by rewarding owners while giving society products and jobs.
(A) True
(B) False
Q:
Explain the concept of "multiple bottom lines." Why do advocates of this approach prefer it over the traditional method of measuring the firm's financial performance?
Q:
Society expects business to be socially responsible.
(A) True
(B) False
Q:
Performance is the results and outcomes of business responsiveness.
(A) True
(B) False
Q:
Discuss the methods used by Fortune magazine to determine how firms are ranked as to Social Responsibility. Do you think the ranking is fair? Why or why not?
Q:
In a ______ approach to CSR, a firm tackles each issue by analysis, risk-reward considerations, and determining how the stakeholder relations would affect the overall health of the organization.
(A) situational
(B) environmental
(C) overall
(D) guarded
(E) inclusive
Q:
Summarize the argument used to explain why the concept of corporate social responsiveness is an improvement over corporate social responsibility.
Q:
In the 1890s, the Robber Barons began to use their personal wealth and the wealth accumulated by their corporations to enhance the social good. Their philanthropic activities were encouraged, in part, because public opinion was demanding that the government do something to limit their power. Is this type of activity still occurring in the United States? Why or why not?
Q:
Corporate _______ is the assessment of the firm's corporate social responsibility and responsiveness.
(A) ethical behavior
(B) cache
(C) social performance
(D) rewarding
(E) priority