Exam 2: Ethics and Social Responsibility of Business

What is "maximizing profits" as a social responsibility theory in business?

The theory of stakeholder interest compels a corporation to consider the effects of its actions specifically on shareholders.

The False Claims Act permits private parties to sue the government on behalf of a corporation.

The social responsibility theory of ________ instructs corporations to solve social issues, even ones that it may have not caused.

How are ethical rules established in Kantian ethics?

According to Rawls's social justice theory, moral duties are based on an implied social contract.

________ is a social responsibility theory of business which says that a corporation must consider the effects its actions have on persons other than its shareholders.

Sinbad Cola, a soft drink manufacturer, recently opened a plant in Buron. The wastages from the plant were dumped in the Buron Sea, situated a mile away from the plant. Dumping of wastes in the sea resulted in water pollution, which negatively affected the Buron fishing business, and also resulted in groundwater contamination. Sinbad Cola compensated by bringing contamination levels down with additional filters, and paying damages to the local fisheries. Which theory of business social responsibility did Sinbad Cola meet when they compensated for their harmful wastage disposal methods?

Which of the following moral theories would closely follow the categorical imperative "Do unto others as you would have them do unto you?"

________ is one of the two principles of Kantian ethics that states that the actor must abide by the rule he or she uses to judge the morality of someone else's conduct.

Under the moral theory of ________, if a person meets his or her own moral standard in making a decision, no one can criticize him or her for it.

Which of the following cases describes an agreement of ethics and laws?

Which of the following theories of morality is Rawls's Social Justice Theory fundamentally derived from?

Which of the following is a perceived disadvantage of Rawls's social justice theory?

Steve Templeton, the CEO of Rolland Motor Company, is contemplating the shutdown of a plant in Kantron. The plant has been unprofitable for some time now, and there is increasing pressure from shareholders to shut it down so as to balance the loss being incurred by the shareholders. But closing the plant would be a blow to the employees as they will lose their jobs, and the local suppliers will lose a major buyer. There is also fear that the sudden closing of the plant will have an adverse effect on the community of Kantron, as the plant is one of the main sources of employment for the locals. Steve Templeton considered all these factors before making a decision on the fate of the plant. -If Steve Templeton decides to not close the plant in Kantron, what business social responsibility will Steve Templeton be achieving?

Under ethical fundamentalism, a person looks to an outside source for ethical rules or commands.

Steve Templeton, the CEO of Rolland Motor Company, is contemplating the shutdown of a plant in Kantron. The plant has been unprofitable for some time now, and there is increasing pressure from shareholders to shut it down so as to balance the loss being incurred by the shareholders. But closing the plant would be a blow to the employees as they will lose their jobs, and the local suppliers will lose a major buyer. There is also fear that the sudden closing of the plant will have an adverse effect on the community of Kantron, as the plant is one of the main sources of employment for the locals. Steve Templeton considered all these factors before making a decision on the fate of the plant. -If Steve Templeton decides to close the plant in Kantron, what important business social responsibility will Steve Templeton accomplish?

Which of the following is a perceived disadvantage of Kantian ethics?

Which of the following is an apparent disadvantage of utilitarianism?

The traditional view of social responsibility of business emphasized maximizing profits for employees rather than shareholders.