Exam 3: Conducting Business Ethically and Responsibly

With respect to the issue of counterfeit brands, it is correct to say that

What is the difference between ethics and social responsibility?

Because it was the initial year of production, only 3000 units of a new model car were built. Some auto dealers got together and agreed that they would sell the cars only if the customer was willing to pay several thousand dollars over the sticker price. This is an example of

When the Alberta securities regulator brought charges against several executives at Grand Cache Coal Corp. because those executives sold company stock just before the company publicly disclosed negative news about its sales, this was an example of

.If a politician sits on a board that grants money to companies and that executive owns a company that is applying for a grant from the board, he or she is most likely facing a(n)

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

Xanex Corp. will often respond positively to requests for donations from certain charitable organizations, but it will not seek them out. Xanex has adopted a defensive stance to social responsibility.

Ethics are both individually and culturally defined.

How does insider trading benefit the person who does it?

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

While on a business trip, a manager takes some friends to dinner for a social evening and then charges the dinner to his company's expense account. The ethical ________ norm would ask "Does this optimize the satisfaction of all constituencies?"

What is insider trading?

A conflict of interest occurs when two employees disagree about what course of action is best for the company.

The right to low prices is the most fundamental consumer right.

What is a whistle-blower?

What is price fixing?

Martha is the owner of a business that regularly imports certain agricultural commodities from countries with poor economic conditions. If she wants to help the citizens of those countries, how can she best do that?

The fundamental goal of sustainable development is to

________ is the view that a company's only social responsibility is to make as much money as possible for its shareholders.

Branson Corp. will do everything that is legally required, but it will not go beyond that. This means that Branson has adopted the defensive approach to social responsibility.