Exam 3: Conducting Business Ethically and Responsibly

The first step in the determination of whether a decision is ethical is to determine the most appropriate moral values.

The most aggressive approach to social responsibility for a firm is the accommodative stance.

You are managing a company that is being asked to pay a bribe. If you do not pay the bribe you will have to lay off 500 people and risk a chance of going out of business. What do you do and why?

Georgia wants to make sure that her employees behave in a highly ethical fashion. What should she avoid doing? Emphasizing the importance of ethics to all employees. Helping employees to follow the company's ethical standards. Modeling behavior that employees should adopt. Relying on managers to report ethics violations. Ensuring that a strict code of ethics is in place.

Sustainable development means pursuing activities that meet current needs, but which will not put future generations at a disadvantage when they attempt to meet their needs.

A behaviour cannot be both ethical and illegal at the same time.

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? Right to low prices Right to choose what they buy Right to safe products Right to be informed Right to be heard

The CEO of TRA Corp. has stated publicly that his company will do everything that is legally required of it, but it will not contribute to charitable causes. TRA Corp.'s position is consistent with which stance to social responsibility? Proactive Non-charitable Obstructionist Defensive Accommodative

List the four general approaches to social responsibility.

When two or more firms agree to collaborate on wrongful acts, it is referred to as consumerism. collusion. market segmentation. oligopoly. monopoly.

Jennifer is about to start her first job. Which of the following is least likely to be an influence on her ethics and behaviour? Her past experiences The code of ethics in that firm Her family and friends Her peers at school Religious teaching she may have received

The proactive social responsibility stance is used by firms who actively seek opportunities to contribute to the well-being of society.

The right to low prices is one of the most fundamental consumer rights.

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

The _________ describes the systematic analysis of a firm's success in using funds that it has earmarked for its social responsibility goals. charitable giving summary social audit social responsibility policy whistle-blowing summary strategic planning summary

Which of the following behaviors is illegal? Company executives encourage employees to invest in company stock while withholding information about financial problems. An employee accepts a gift from a supplier in return for a large order. A manager refuses to hire or promote a qualified visible minority in spite of company policy. A manager underpays an employee, knowing that the employee can't afford to quit. All of these actions are illegal.

The practice of jeitinho is an element of business activity in which country? Canada Japan Indonesia Brazil The Czech Republic

Atlas Corp. offers a money back guarantee on products and provides complaint hot lines for its customers. This is an example of which of the following consumer rights? Right to be informed Right to choose Right to be heard Right to health and safety Right to low prices

Though an individual feels that his behavior is ethical, that behaviour may still be seen as unethical if social norms consider it to be so.

Because Joan owns a small company, the concept of socially responsible behaviour does not apply to her.