Business Ethics

Q: ____ refers to a quality, characteristics, or state in which activities, processes, practices, and decisions in companies become open or visible to the outside world. A.Opacity B.Corporate Transparency C.Deontological D.Utilitarianism

Q: The ethics of care may help managers utilize A.deontological principles. B.the stakeholder perspective. C.utilitarianism. D.the principle of rights.

Q: Being forthright, sincere, and honest in communicating with others is referred to as A.candor. B.transparency. C.feedback. D.criticism.

Q: Which of the following is not a type of justice mentioned in the textbook? A.distributive justice B.compensatory justice C.procedural justice D.utilitarian justice

Q: Being a moral manager involves all of the following activities except A.role modeling. B.communicating about ethics and values. C.delegating effectively. D.using rewards and discipline effectively.

Q: The basic idea that underlies the principle of rights is that A.they must be earned. B.they are granted by the government. C.they cannot be overridden by utility. D.they are universal to all peoples.

Q: Moral rights A.depend on a legal system for their validity. B.are derived from religious teachings. C.are important, justifiable claims. D.are earned as people demonstrate their moral responsibilities.

Q: Kant's categorical imperative emphasizes all of the following concepts except A.respect for persons. B.virtues. C.universalizability. D.duty.

Q: Teleological theories focus on A.duties. B.rights. C.consequences. D.virtues.

Q: Which of the following is not a formulation of Kant's categorical imperative? A.Act only according to that maxim by which you can at the same time will that it should become a universal law. B.So act to treat humanity, whether in your own person or in that of any other, in every case as an end and never as merely a means. C.Every rational being is able to regard oneself as a maker of universal law. D.Act only according to that maxim by which you increase the overall happiness of everyone affected by your action.

Q: An ethical concept or rule that helps the decision maker take an ethical course is called a(n) A.ethical principle. B.moral challenge. C.moral dilemma. D.ethical rubric.

Q: Kant's categorical imperative argues that one's sense of duty is derived from A.divine command. B.reason. C.emotion. D.desire.

Q: Decisions about ethical situations often present a(n) A.conflict of interest. B.financial dilemma. C.unresolvable problem. D.legal problem.

Q: The ethical principle that states, "we should always act so as to produce the greatest ratio of good to evil for everyone" is A.deontology. B.virtue ethics. C.utilitarianism. D.hedonism.

Q: Which of the following is the most basic assumption we make in discussing personal and managerial ethics? A.With effort, the "right" answer can be reached. B.The object of ethical principles is to minimize harm done to others. C.The object of ethical principles is to maximize benefits to others and ourselves. D.People want to behave ethically.

Q: Ethical theories that focus on duties are called A.teleological. B.virtue theories. C.principled rights. D.deontological.

Q: Ethical issues at the industry level A.are usually handled by industry trade associations. B.are typically resolved through the legal system. C.can also be related to a specific profession. D.can usually be rectified by individual managers.

Q: Which of the following is not an act of misconduct commonly observed in the workplace? A.misreporting time worked B.discrimination C.sexual harassment D.industrial espionage

Q: Ethical issues at the organizational level A.represent conflicts between two or more companies. B.display conflicts between a person's role as family member and employee. C.are generally more difficult to solve than issues at the personal level. D.confront people in their roles as managers or employees.

Q: The Enron Era brought about a broad range of legal and ethic charges that included all the following except A.securities fraud B.conspiracy to inflate profits C.corrupt corporate cultures D.building company assets

Q: The personal level of ethical challenges include situations we face in our personal lives A.at work. B.and in our families. C.outside of the work context. D.and spiritual lives.

Q: Moral identification and ordering refers to the ability to discern the ambiguity of moral factors.

Q: Which of the following is not a level at which ethics may be addressed? A.personal B.industry C.global D.small group

Q: Ethical egoism is based on the idea that the individual should seek to minimize self-interests.

Q: According to research done by David Callahan, all of the following are reasons why cheating is on the rise except A.bigger rewards for winning. B.declining wages. C.temptation. D.trickle-down corruption.

Q: The postconventional level of moral development is the most common level for adults over 50 years of age.

Q: Ethics audits are designed to uncover acts that violate the firm's code of conduct.

Q: In Kohlberg's preconventional level of moral development, the individual's primary concern is for others.

Q: Amoral management relies primarily on a compliance strategy that focuses on obedience to the law.

Q: Researchers have found that many business people go through life thinking that they are objective.

Q: In making ethical judgments, it is usually easier to reach consensus on individual practical cases than it is to agree on broad principles.

Q: Virtually all companies that exhibit moral management have had that outlook since they were founded.

Q: Ethical behavior is generally considered to be on a higher plane than legal behavior.

Q: Moral management stresses profitability over other stakeholder concerns.

Q: The best reason to base one's ethics on societal norms is that the norms do not conflict; thus they provide clear guidance to "right" and "wrong."

Q: Immoral management implies that decision makers know right from wrong, but choose to do wrong.

Q: The major questions related to the conventional approach to business ethics are "Whose norms do we use?" and "What norms are prevailing?"

Q: The forces that most often come into conflict with ethics in a business setting are economic and social.

Q: Normative ethics depends on whether "everyone is doing it" to justify moral decisions and actions.

Q: Descriptive ethics is concerned with studying and describing the morality of a particular group of people.

Q: The public's view of business ethics has always been very high until the recent scandals.

Q: Social performance reporting should be isolated in assessing social performance.

Q: A 2009 Marist College Institute for Public Opinion survey indicated that more than half of Americans believe people use the same ethical standards in business as they do in their personal lives.

Q: Social auditing is very new.

Q: A November 2009 Gallop poll revealed that almost 40% of the public thought that business executives had low or very low ethics.

Q: Social audits can be thought of as a planning and control system.

Q: An NBES survey indicated that ethical misconduct at work was up slightly.

Q: A social audit is a systematic attempt to identify, measure, monitor, and evaluate an organization's performance with respect to its social efforts, goals, and programs.

Q: Only about half of Americans say that they are worried about the moral compass in corporate America.

Q: The social audit can be an effective component of a firm's strategic control system.

Q: The steps of the strategic management process are most effective if done sequentially in the order specified in the textbook.

Q: Some management scholars believe that the successful firms of the future will be those that can meet stakeholders' social expectations and investment advisors' financial expectations.

Q: Enterprise-level strategy and societal-level strategy are synonymous.

Q: Corporate public policy takes place primarily at the corporate level of strategy.

Q: Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it. Church groups are key members in the shareholder activist movement. One way that they gain access to corporate executives is by purchasing a small amount of stock and holding it a certain length of time (state laws usually dictate how much they need to buy and how long they need to hold it), which then allows them to introduce shareholder resolutions at stockholder meetings. Should small investors be able to wield influence like this, which arguably goes beyond their financial stake in the firm?

Q: There is a growing consensus that ethics should be a central component of strategic management.

Q: Corporate public policy is a firm's posture or position regarding the public, social, global, and ethical aspects of stakeholders and corporate functioning.

Q: Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it. The textbook mentions that business as a whole rarely, if ever, addresses the issue of legitimacy at the macro level. Imagine that the Chamber of Commerce approaches you to design a campaign to assure its legitimacy with the public. What kinds of issues would you address?

Q: Provide a short answer to each of these questions. Be sure to fully explain your answer. Summarize the responsibilities that corporations should have toward their shareholders.

Q: Provide a short answer to each of these questions. Be sure to fully explain your answer. What are the two main issues associated with CEO pay?

Q: Provide a short answer to each of these questions. Be sure to fully explain your answer. Why are church groups particularly visible in the shareholder activist movement?

Q: Provide a short answer to each of these questions. Be sure to fully explain your answer. Why are inside directors seen as problematic in corporate governance?

Q: Provide a short answer to each of these questions. Be sure to fully explain your answer. List the reasons that good candidates for corporate board positions are hard to find.

Q: Provide a short answer to each of these questions. Be sure to fully explain your answer. What is the difference between an owner and an investor?

Q: Provide a short answer to each of these questions. Be sure to fully explain your answer. Why is insider trading illegal and considered unethical? Isn't that exactly what financial markets are supposed to do--reward those who make good decisions?

Q: Provide a short answer to each of these questions. Be sure to fully explain your answer. What is the primary problem inherent in management control of the firm?

Q: Provide a short answer to each of these questions. Be sure to fully explain your answer. Why is the generous nature of CEO retirement packages particularly frustrating to the public?

Q: Provide a short answer to each of these questions. Be sure to fully explain your answer. Describe how the separation of ownership and control came about.

Q: The fact that company information should be made at regular and frequent intervals and should contain information that might affect the investment decisions of shareholders is contained in the concept of A.full disclosure. B.transparency. C.open door reporting. D.both full disclosure and transparency.

Q: One of the main ways in which shareholder activists communicate their concerns to management is through A.the Internet. B.blogging. C.advertisements in mass media outlets. D.shareholder resolutions.

Q: The practice of obtaining critical information from within a company and then using that information for one's own financial gain is A.arbitrage. B.programmed trading. C.insider trading. D.hedging.

Q: Shareholder activism A.was started by the counter culture during the 1960s. B.has been around for more than sixty years. C.is lead by the Roman Catholic church. D.relies on large institutional investors to introduce most of the shareholder resolutions.

Q: Which of the following is not an argument against the use of golden parachutes? A.The covered executives are already being well paid for their work. B.The covered executives are given an incentive to run the company poorly. C.The covered executives are being rewarded for failure. D.The covered executives are giving themselves the golden parachutes.

Q: Boards are now being tougher on CEOs for all of the following reasons except A.increasing diversity on boards. B.competitive economic conditions. C.rising vigilance of outside directors. D.increasing power of large institutional investors.

Q: A contract in which a corporation agrees to make payments to key officers in the event of a change in the control of the corporation is called A.a golden parachute. B.golden handcuffs. C.greenmail. D.the silver rule.

Q: The board committee that is responsible for responding to social issues is the A.ethics committee. B.public policy committee. C.community interface committee. D.rapid response committee.

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