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Business Ethics
Q:
Corporate social performance emphasizes
a. obligation and accountability.
b. action and activity.
c. outcomes and results.
d. socially responsible investing.
Q:
Which statements about boards of directors are correct?
(A) Outside directors are employees or people who have other ties to the company.
(B) Outside directors provide a method of balancing power and a system of checks and balances to help prevent corruption.
(C) The potential problem of inside directors is that they are often beholden to the CEO and may agree with whatever the executive wants.
(D) Board members are balanced in gender and ethnicity.
(E) Outside directors are rarely friends of a company's CEO, and thus provide fair and impartial opinions about the business's operations.
Q:
Corporate social responsiveness emphasizes
a. obligation and accountability.
b. action and activity.
c. outcomes and results.
d. socially responsible investing.
Q:
Which of the following are concerned with safety and health in the work place?
(A) OSHA
(B) Department of Labor
(C) Patient Protection and Affordable Care Act
(D) Workplace violence
(E) Privacy
Q:
Corporate social responsibility emphasizes
a. obligation and accountability.
b. action and activity.
c. outcomes and results.
d. socially responsible investing.
Q:
Which of the following are employee rights based on?
(A) personalities of management
(B) whims and fancies
(C) emotions
(D) ethical and legal employer expectations
(E) agreements and contracts
Q:
The early definition of corporate social responsibility was
a. seriously considering the impact of the company's actions on society.
b. maximizing profits.
c. accomplishing the firm's social action goals.
d. that the corporation had not only economic and legal obligations, but also certain responsibilities to society which extended beyond those obligations.
Q:
Which statement correctly describes ombuds?
(A) They are used primarily during employment negotiating to help settle disagreements and to make a binding decision for them.
(B) They are primarily used to investigate and help settle employee complaints between employers and employees fairly.
(C) They are primarily used to help employers get workers.
(D) They are primarily used to help businesses meet employee rights.
(E) None of these statements is correct.
Q:
Social screening is the mechanism by which socially conscious investors choose their investment advisors.
a. True
b. False
Q:
Social responsible investing is a very new concept, originating in the early 1990s.
a. True
b. False
Q:
_________is the right to be treated fairly and to receive an impartial review of a complaint.
(A) Ombudsmanship
(B) Mediation
(C) Due process
(D) Governance
(E) Employment at will
Q:
Which of the following statements is not a major stakeholder in a corporation?
(A) Board of directors
(B) Management
(C) Employees
(D) Stockholders
(E) General public
Q:
In order to operate with a true stakeholder perspective, firms must accept the multiple bottom line view.
a. True
b. False
Q:
Research has indicated that improvements in corporate social performance are associated with improved financial results.
a. True
b. False
Q:
_________ occurs when a person uses confidential information before it becomes public knowledge to buy or sell the company stock.
(A) Outsider trading
(B) Freewheeling
(C) Whistleblowing
(D) Insider trading
(E) Hedging
Q:
One of the biggest advances in corporate social performance is that all agree that performance criteria need only be responsive and not anticipatory.
a. True
b. False
Q:
What is the mission of the Security and Exchange Commission (SEC)?
(A) To help stockholders by trading the stocks for buyers and sellers.
(B) To approve which stocks can be bought and sold in the stock market and to oversee the exchange of stocks.
(C) To protect stockholders' rights by regulating the stock market to make sure it is run fairly and that investment information is fully disclosed.
(D) To fine businesses that break the rules of the stock exchange including fraud.
(E) To guarantee profits for all shareholders.
Q:
A survey done by Walker Information shows that the public believes that CSR does not factor into a company's reputation at all.
a. True
b. False
Q:
Which of the following is true about executive compensation?
(A) U.S. executives are the highest paid in the world.
(B) Compensation only comes in the form of salaries.
(C) Executives are prohibited by federal law to earn more than $1 million a year.
(D) A golden parachute refers to executives bailing out of a company before it goes bankrupt.
(E) An executive's skill and performance has little do to with his or her compensation.
Q:
The corporate social performance concept has not yet spread to the business community.
a. True
b. False
Q:
Which statements about the old employment relationships are correct?
(A) Under the old employment relationship, job seekers were expected to be hired and trained for the job.
(B) The old relationship provided job security, steady pay increases with good benefits, opportunities for advancement, and long-term employment.
(C) Employees are responsible for their own career future, which is likely to entail having multiple jobs.
(D) The old manager–employee relationship was more collaborative than adversarial.
(E) The old relationship called for loyalty to and identification with the employer.
Q:
Corporate social performance emphasizes the financial results of what the firm hopes to accomplish.
a. True
b. False
Q:
Which of the following are neutral parties that can be called to help settle labor disputes?
(A) arbitrator
(B) steward
(C) mediator
(D) charter
(E) outside director
Q:
Carroll's Corporate Social Performance Model helps managers understand that social responsibility is separate and distinct from financial performance.
a. True
b. False
Q:
Employer-employee relationship is much the same as it has always been.
(A) True
(B) False
Q:
Corporate social responsiveness is focused on the action phase of management response to social demands.
a. True
b. False
Q:
Identify the elements of the issues life cycle.
Q:
Which of the following is not true of public affairs management?
(A) PA management policies and strategies are part of the overall nonmarket strategy, which must be integrated with market strategies.
(B) Many companies have created specialized departments, with titles such as Public Affairs Department, to manage PA.
(C) All employees need to view PA as part of their day-to-day work, rather than the job of PA professionals.
(D) PA has many activities and functions that must be managed effectively for the business to be successful.
(E) PA is not used in large corporations today.
Q:
Proponents of the concept of corporate social responsiveness believe that the focus of corporate social responsibility on accountability or obligation is not dynamic enough to describe business's willingness and activity to respond to social demands.
a. True
b. False
Q:
Which statement about public affairs and issues management is not correct?
(A) Public affairs (PA) management is the process of developing corporate public policies and strategies regarding how the business will interact with stakeholders in the business, social and government environments.
(B) Issues management is a public affairs management approach to identifying, monitoring, analyzing, and selecting public issues that warrant nonmarket strategies.
(C) Issues management is broader in scope.
(D) None of these statements is correct
(E) All of these statements are correct
Q:
An argument for corporate social responsibility is that it helps business compete in the global economy.
a. True
b. False
Q:
_______ stakeholders are critically affected by firm action, and/or they can affect firm performance.
(A) Strategic
(B) Preferred
(C) Consumer
(D) Critical
(E) Management
Q:
Friedman never proposed that businesses had any obligation to act ethically.
a. True
b. False
Q:
Which of the following is true of the traditional stockholder approach?
(A) It focused on being socially responsible.
(B) It is the best model for successful businesses today.
(C) Managers years ago believed that generating long-term value depended on the needs of many stakeholders.
(D) The paradigm has shifted from stakeholder to stockholder in recent years.
(E) It focused on meeting the needs of the owners and maximizing profits without regard for other stakeholders.
Q:
Which statement best describes balancing stockholder and other stakeholder interests?
(A) Managers have a responsibility to make a profit for stockholders while operating in a legal and ethical manner to maximize the benefits to entities other than stakeholders.
(B) Managers have a responsibility to make a profit for stockholders while operating in a legal and ethical manner and not take advantage of other stakeholders.
(C) Managers should use some of the business profits to help society.
(D) Managers' only responsibility is to stockholders.
(E) None of these statements is correct.
Q:
The CSR Pyramid is a stakeholder model--that is, each of its components addresses different stakeholders.
a. True
b. False
Q:
In practical terms, the socially responsible firm must be involved in philanthropy, as society expects it.
a. True
b. False
Q:
Even within the business, society, and government categories, different stakeholders can have different expectations, concerns, and requests for firm action to meet their special interest.
(A) True
(B) False
Q:
In Carroll's four-part definition of corporate social responsibility, ethical responsibilities are required of business only by society, and not by businesses themselves.
a. True
b. False
Q:
Developing stakeholder public policies does not really require an understanding of stakeholders because many stakeholder entities have similar structure and culture.
(A) True
(B) False
Q:
The company town, in which a major employer builds homes and commercial buildings, and provides the goods and services needed by its employees, is an example of paternalistic social responsibility.
a. True
b. False
Q:
Only products, not issues, go through a life cycle.
(A) True
(B) False
Q:
Philanthropy is the term by Adam Smith in Wealth of Nations to describe the operation of self interest resulting in the good of society.
a. True
b. False
Q:
The sooner the issue is identified (often through issues management), the more time the business has to plan for and deal with it.
(A) True
(B) False
Q:
The marketplace in the classical view of economics, while being a good allocator of goods and services, does not do a good job of ensuring that business always acts fairly and ethically.
a. True
b. False
Q:
Proper communication can help to maintain a positive company and brand reputation.
(A) True
(B) False
Q:
A society more satisfied with corporate social responsiveness, performance, and citizenship will invariably have reduced criticism of business.
a. True
b. False
Q:
A crisis management team is usually led by a junior-level supervisor when the event actually happens.
(A) True
(B) False
Q:
Using the managerial approach discussed in the textbook, discuss the topic of ecological damage and sustainability as they relate to business.
Q:
Some companies use issues management software to measure PA efforts.
(A) True
(B) False
Q:
Choose a particular corporation and describe the power it wields in different spheres.
Q:
The textbook says that when power gets out of balance, other forces are brought to bear so that balance is restored. Name some of the other forces that are used to balance business power. Describe how effective each of those other forces is in combating business power.
Q:
A strategic plan can be successful even though the company does not monitor the results.
(A) True
(B) False
Q:
Issues management is used to anticipate and respond to both threats and opportunities.
(A) True
(B) False
Q:
If "rights" are the entitlement to certain life chances and freedom from certain limitations that are accorded to persons simply because they have been born and are alive, what else does the existence of rights imply?
Q:
Corporate public policies are general guidelines to influence how employees will interact with stakeholders.
(A) True
(B) False
Q:
The key elements of a pluralistic society are decentralization and diversity of power. Using what you know about American society, do you consider it to be a pluralistic society? Why or why not?
Q:
Firms that are less likely to be active in PA management are those that are significantly affected by government.
(A) True
(B) False
Q:
What is the difference between internal and external stakeholders?
Q:
Stakeholder theory is a popular area of research.
(A) True
(B) False
Q:
Describe what the authors mean by the managerial approach taken in the textbook.
Q:
_________ is a public affairs management approach to identifying, monitoring, analyzing, and selecting public issues that may warrant nonmarket strategies.
(A) Strategic management
(B) Issues management
(C) Management by objective
(D) Public affairs management
(E) Threat assessment
Q:
Explain the rationale that is the foundation of The Iron Law of Responsibility.
Q:
Who does the textbook indicate would be a good choice to head a crisis management team?
(A) Line supervisors
(B) All regional or division managers
(C) Chairman of the Board of Directors
(D) Senior vice presidents
(E) CEO
Q:
Explain what is meant by spheres of power.
Q:
What are the five Is of strategic analysis?
Q:
The authors state, "the of victimization philosophy is intimately related to and sometimes inseparable from the rights movement and the entitlement mentality." Explain how these three concepts are related.
Q:
List the stages of crisis management.
Q:
The authors discuss the rights movement as a contributing factor in the climate that is critical of business. What are "rights?"
Q:
Explain how issue management can preclude crisis management.
Q:
Explain the role that television plays in creating a climate critical of business.
Q:
Why do businesses engage in PA management?
Q:
Describe the virtues of a pluralistic society.
Q:
Describe business's transition from the stockholder to the stakeholder approach.
Q:
Why does discussion of the institution of business tend to focus on big business?
Q:
Which statements about the issue life-cycle stages with the strategic focus for each stage are correct?
(A) Identification and formation of the issue and public sentiment.
(B) Interested stakeholder formation.
(C) Issue brought to business for voluntary action.
(D) Legislative and Congressional formation.
(E) Enforcement and litigation.
Q:
The authors of the textbook say that, at a general level, they will be discussing the role of business in society. What do they mean by "the role of business in society?"
Q:
What are included in the Is of strategic analysis?
(A) Issue identification
(B) Interface with competition
(C) Interested strategic stakeholders
(D) Incentive of stockholders
(E) Interaction strategies
Q:
Sustainability, at a simple level, is about business's:
a. ability to survive and thrive over the long term
b. approach to only the natural environment
c. preservation of the environment in the present generation
d. ability to meet the needs of the present while compromising future generations
Q:
Which of the following would be an "A" of communication during a crisis?
(A) Assume that a competitor or stakeholder was at fault and deny liability.
(B) Advise managers to deny the cause of the crisis.
(C) Acknowledge the crisis happened.
(D) Action to tell the public what is being done.
(E) Avoid future events.