Exam 8: Ethics and Social Responsibility of Business

Businesses organized in the United States are not subject to laws of other countries in which they operate.

A company that pollutes a river without providing any compensation to those affected is said to have violated its social responsibility as proposed by the maximize profits theory.

What does the "veil of ignorance" require under the social contract theory of mortality?

According to Rawls' social justice theory,universal rules are based on consistency and reversibility.

According to corporate citizenship theory,businesses should focus only on improving the wealth of its shareholders.

Which of the following statements describes the moral theory of utilitarianism?

Kantian ethics is also known as moral relativism.

Which of the following is an example of corporate citizenship theory?

________ is one of the two important principles of Kantian ethics upon which its universal laws are based.

Which of the following is a criticism of stakeholder interest theory?

Which of the following is an example of ethical relativism?

Utilitarianism focuses on rules that provide minimal good to the greatest number of people.

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?

Ethical fundamentalism dictates that people must choose the action or follow the rule that provides the greatest good to society.

Rawls' social justice theory can be described as wanting fairness in justice.

Ethics and the law remain unrelated in most of the cases.

Discuss the major criticism against ethical fundamentalism.

A person deriving his or her ethics from a religious book is an example of ethical fundamentalism.

Explain corporate citizenship with an example.

Kantian ethics is also referred to as ________ ethics.