Exam 4: Business Ethics and Corporate Social Responsibility

Since its inception,Whole Foods Market has contributed 5% of its profits to charitable endeavors.At Whole Foods Market,company leaders believe they have responsibilities beyond making a profit.The firm has a ________ approach to CSR.

Ethics are principles and standards of moral behavior that are accepted by society as "right" or "wrong."

Philanthropy involves social contributions that are directly aligned with a company's business strategy.

In proactive CSR,company leaders believe they have responsibilities beyond making a profit,and they back up their beliefs and proclamations with actions taken on their own initiative.

The Occupational Safety and Health Act of 1970 set mandatory standards for safety and health and established the Occupational Safety and Health Administration (OSHA)to enforce them.

Which of the following approaches to resolving ethical dilemmas advocates choosing the option that delivers the most good for the most people?

NGOs are nonprofit groups that provide charitable services or promote causes such as workers' rights and environmental protection.

Under ________,lawmakers establish maximum allowable amounts of a pollutant that an industry is allowed to emit and distribute individual allowances to all companies in that industry.

A company accused of irresponsible behavior that promotes itself as being socially responsible without improving its business practices is said to have a cynical CSR.

________ is the study of how people interact with computers and other machines.

Aston Products Inc.,a cosmetic research,development,and manufacturing firm,conducts a cost-benefit analysis that identifies an underdeveloped area which has cheap labor and low land costs.The firm decides to set up a factory in that area to take advantage of the lower land and labor costs.While setting up the factory,the company also develops infrastructure such as building roads,hospitals,and primary schools.This is an example of ________.

According to the ________ view,the only social responsibility of business is to pay taxes and obey the law.

Companies that engage in cynical CSR believe that the only social responsibility of business is to pay taxes and obey the law.

________ refers to the degree to which information flows freely within an organization,among managers and employees,and outward to stakeholders.

The degree to which information flows freely within an organization is termed as insider trading.

Nongovernmental organizations are ________.

The ________ establishes procedures for creating geologic repositories of radioactive waste.

Which of the following statements is true regarding whistle-blowing?

Toy Land Inc.was criticized for selling toys that had lead paint and were proven to be harmful for children.The company recalled several batches of toys.It responded to these accusations by changing its logo to include a recycle theme,using advertisements that promoted waste management and recycling,and providing Toy Land Inc.branded reusable shopping bags at their store.However,the firm did not undertake any specific measures to avoid using toxic materials in its products.This is an example of ________.

The products of Sports Center,an international sports footwear and apparel chain,are manufactured in sweat factories in China.According to the company president,using sweatshop labor is justified because it delivers the most good for the most people.He mentions that it offers a means of livelihood to children and young adults,as well as supplies good quality apparel to customers at a lower cost.In this example,the president of Sports Center uses which of the following ethical approaches to decision making?