Exam 42: Ethics and Social Responsibility of Business

According to ethical relativism, ________.

How are ethical rules established in Kantian ethics?

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

Portman, who runs a computer hardware store, had signed a contract with Stewie Inc.to deliver 125 computer monitors.He was to deliver it by the 5th of August, but by the 3rd of August, Portman could not arrange for the monitors, as his usual supplier was not available.Portman then decided to go to another supplier who had a higher selling price rather than cancel the contract with Stewie Inc.as he believed it was his duty to do so.What of the following moral theories matches Portman's behavior?

The categorical imperative "Do unto others as you would have them do unto you" is an illustration of Kantian ethics.

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. -If Steve Templeton decides to close the plant in Kantron, what important business social responsibility will Steve Templeton accomplish?

The theory of corporate citizenship contends that corporations owe a duty to promote the same social goals as individual members of society.

Gregory, who looks up to the principles of Dr.Martin Luther King Jr.for ethical rules is an ethical fundamentalist.

Utilitarianism directs an individual to choose the action that provides the greatest good for the greatest number of people.

An ethically wrong state or condition can still be legal.

A government or political party that strictly derives its ethics and laws based on a specific religious book is an example of ________.

The social contract theory is derived from Rawls's social justice theory.

According to ________, keeping a promise to abide by a contract is a moral duty even if that contract turns out to be detrimental to the obligated party.

Kant believed that people owe moral duties that are based on universal rules.

There are no specific governmental laws endorsing a moral minimum of social responsibility on corporations.

All laws are framed to meet the highest ethical standards.

According to Rawls's social justice theory, a person who is in a state of "veil of ignorance" is best fit to select the fairest possible ethical principles.

A social responsibility theory of business which says that a corporation's duty is to make a profit while avoiding causing harm to others is referred to as ________.

Ethics refers to a set of principals laid down by the society which an individual is expected to follow.

According to ethical relativism, an action that is usually thought to be unethical would not be considered unethical if the perpetrator thought it was ethical.