Exam 3: Conducting Business Ethically and Responsibly

Most companies that strive to be responsible to their stakeholders concentrate on five main groups: customers,employees,investors,suppliers,and creditors.

Some actions,such as stealing food during a famine,may be illegal yet considered by some people to be ethical.

Jana and Kate are the owners of an upscale jewelry boutique that offers unique and much-desired accessories in a wealthy neighborhood.Jana and Kate are concerned,however,that the company's commitment to social responsibility has begun to diminish in various respects.How would this most likely be evident?

What are carbon credits?

Give examples of the types of actions a business can take to meet its social responsibility.

What is consumerism?

Who are groups,individuals and organizations that are directly affected by the practices of an organization and that therefore have an interest in its performance?

"Cooking the books" to make a company's financial situation look better than it really is illustrates a behaviour that is

Which of the following is not an argument against a socially responsible role by a business firm?

The fair-trade movement is a movement designed to help workers in developed countries receive fair payments for their work.

Jays Inc.dumped toxic chemicals in the river next to their factory.Upon being caught,Jays Inc.not only denied their wrongdoings,they went to great lengths to hide their behaviour.Jays Inc.is taking a(n)________ stance to social responsibility.

List two ways that a company can formalize top management commitment to ethical business practices.

The idea that a business should balance its commitments to individuals and groups that are directly affected by the organization's activities is referred to as which of the following?

A plumbing supply firm can win a contract with a home-building business by promising to get 500 faucet assemblies of a certain make by Tuesday morning.Actually,the customer representative finalizing the deal knows that their supplier normally takes an extra day to get them to the firm.But lately,due to the housing slowdown,shipments have been arriving a day earlier. The customer representative therefore promises Tuesday delivery to the home-building business,reasoning that if the faucets do come a day later,as they often do,he can come up with a reasonable excuse. Which of the following,if true,undermines the customer representative's ethical position?

List and describe the four stances an organization can take concerning its obligations to society.

Bernard has decided to evaluate a decision he made based on the ethical norm of utility.What question should he ask?

Robert,a CEO,is trying to decide whether to cut a budget item that is allocated to help construct shelters for the homeless.After getting advice from workers and considering his own ethical views,Robert decides to not cut these funds,even though the decision meant that the company would likely make less profit as a result. What is the most likely reason Robert made this decision?

The first step in the simplified three-step model for applying ethical judgments to situations that may arise during the course of business activities is to

Which of the following is not an organizational stakeholder?

What are ethics? What influences the development of ethics? How can ethical values vary significantly from one person to another?