Exam 42: Ethics and Social Responsibility of Business

________ is a moral theory which asserts that fairness is the essence of justice.

Give an account of the relationship between ethics and law.

Under the theory of ________, if a business corrects the social injury it causes, it has met its duty of social responsibility.

Ethical relativism holds that moral standards ought to be based on an individual's feelings of what is right or wrong.

What is "corporate citizenship" as a social responsibility theory in business?

Charlotte works as a teacher in Africa.Every Sunday, she visits nearby villages and convinces families to send their children to school.She arranges accommodation for these children and helps them with their education.In a recent interview, Charlotte mentioned that she looks up to Mother Teresa not only for inspiration but also to resolve ethical dilemmas.Which of the following theories would support Charlotte's approach to ethics?

Explain the two principles used to derive the universal rules of Kantian ethics?

Kantian ethics is based on the premise that people can use reasoning to reach ethical decisions.

A corporation that pollutes a body of water has not met its moral minimum duty of social responsibility even if the business later compensates those whom the pollution has injured.

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?

________ Act is a federal statute that permits private parties to sue companies for fraud on behalf of the government and share in any monetary recovery.

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, after wagering all the factors, finds that the loss to the employees and the community is far greater than the one incurred by the shareholders, and decides to keep the plant open in Kantron. -Which of the following moral theory matches Steve Templeton's approach in keeping the plant open?

Which of the following is an apparent disadvantage of utilitarianism?

The theory of moral minimum emphasizes correcting social injuries caused by a business.

The theory of maximizing profits holds that the interests of constituencies other than the business itself are not important in and of themselves.

According to Kantian ethics, one would be obligated to abide by a contract even if that contract turns out to be detrimental to the obligated party.

Which of the following moral theories lays emphasis on morality based on one's moral duties?

________ 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.

One of the advantages of utilitarianism is that it is easy to apply in most real-life situations.

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