Exam 3: Conducting Business Ethically and Responsibly

If we apply the ethical standard of utility,it may be acceptable to allow inflated expense reports.

Counterfeit goods are harmful to companies that have spent a lot of time and money developing brand name goods for sale,but counterfeit products are beneficial for consumers because they get lower prices for expensive products like counterfeit motorcycles and pharmaceuticals.

What are carbon credits?

In Canada and the United States,tobacco companies are required to include warnings to smokers on their products and to limit advertising to prescribed media.Within Canada and the United States,they follow these rules but often use more aggressive methods in countries with no such rules.As such,tobacco companies typically adopt a(n)________ stance to social responsibility in marketing their products.

Biggar Foods wants to take a proactive stance towards social responsibility.This means that

The recent surge of products being called "light" led to an investigation by government agencies.This illustrates concerns about which of the basic consumer rights?

Shareholders are owners of the company.How can a company act irresponsibly toward its owners?

Which of the following is the best means of showing responsibility toward employees?

What is recycling?

At the end of an especially good year,a company decides to give bonuses to its sales employees.Two salespeople are included: Tracy shows a better-than-average sales record,whereas Colin was only an average salesperson.Colin has a reputation for being a straight shooter who complies strictly with the company's ethical code.On the other hand,Tracy made some deals that,as co-workers confided to middle managers,were "on the edge" of dishonesty.When the company's ethics panel reviewed one such deal,it was found to have been compliant with the letter of the stated code.Nevertheless,the financial officer recommends that both employees be given the same bonus. Which of the following,if true,most strongly supports the financial officer's position?

Identify and explain the rights of consumers.How did these rights originate? What can business firms do to deal with these rights?

In the past,"gentlemen's agreements" were often used to avoid competition or to divide up a market so that firms did not have to truly compete against each other.Which consumer right is being violated when companies block competition?

Describe the stakeholder model of social responsibility.

In Venezuela,the term "jeitinho" refers to strict adherence to bureaucratic rules so that a person does not get in trouble with the government.

Janet is the CEO of Xanadu Corp.She believes very strongly that the purpose of a business firm is to make as much money as possible as long as the business doesn't break the law while doing so.Janet is reflecting the view called managerial capitalism.

Mandex Corporation has a history of covering up mistakes that are made by its employees rather than fixing the mistakes.This company is taking a(n)________ approach to social responsibility.

Jordan is a recent college graduate with a degree in computer programming.He has just begun his first full-time job and is excited to apply the skills that he worked so hard to acquire.Though he excelled as a student,Jordan is anxious about how successful he will be as an employee.When an opportunity unexpectedly presents itself to take credit for a brilliant software program that someone else wrote,Jordan does not resist and claims the program as his own.Which of the following would least likely also happen along with Jordan's decision?

Pandora Products is a national company that produces a line of hot breakfast cereals,mainly featuring flavored instant oatmeal.Its products are sold in grocery stores across the country,but the company has faced stiff competition from larger,well established companies. Aligning the Pandora brand with a national non-profit has many benefits.However,the CEO is still not convinced.Which of the following statements,if true,would support the argument made by the CEO to not tie sales of Pandora's breakfast oatmeal to the American Heart Association?

Bristol Corp.plans to introduce an inexpensive line of shoes to the Canadian market.It has found a manufacturer in Asia that can produce the shoes at a cost that will be cheaper than other brands of the same quality.Which of the following is a potential ethical implication that the company should consider before beginning production?

Identify two examples of unethical practices in advertising.