Exam 4: Business Ethics and Social Responsibility: Doing Well by Doing Good

Anaida is an entrepreneur who believes in providing equal opportunity to people regardless of their age, gender, race, or religion. She is open-minded and detests the idea of taking advantage of others. In the context of universal ethical standards, Anaida most likely possesses the core value of _____.

Anderson invested $1 million in a company called Ladmen Corp. He, therefore, has a personal interest in the company's profits and its new ventures. Given this information, Anderson is a _____ in Ladmen Corp.

Five individuals get food poisoning after consuming aerated drinks of a well-known company. Following this incident, the public demands an inquiry into the company's manufacturing processes. This demand by the public represents _____.

Promoting high-calorie/low-nutrient foods with inadequate information about the risks is a(n) _____ practice.

Providing rock-bottom prices only to distributors in underserved areas is__________.

A Japanese company encourages its employees to participate in charitable activities. The company gives annual paid leave of ten days to its employees to volunteer at nonprofits or take part in activities that support environmental causes. Given this information, the company's initiative is an example of _____.

Jordon, a senior executive at a marketing firm, used to regularly meet international clients to discuss future projects. After one of his recent meetings went wrong, Jordan, in a fit of rage, threw a paper weight at his junior associate. The firm's management immediately terminated Jordan for this act. In the context of business ethics, Jordon was guilty of _____ in this scenario.

Lily, a salesperson at a clothing store, observes the department head misbehaving with a customer. She brings the issue to the notice of the store manager, and the offender is immediately dismissed from his job. In this scenario, Lily is a _____.

Crumbie, a cereal company, not only provides nutritional information on the packaging box of its product but also goes a step ahead by providing a pamphlet that gives a detailed description of the production process. Given this information, it can be deduced that Crumbie is an advocate of _____.

The trade union members of a wool manufacturing company are the company's _____.

The personal needs, the culture, and the family of an individual influence his or her ethical choices.

Vandium, a high-end smartphone, is known for its excellent audio quality and processing speed. However, most of its users complain of certain technical issues after a period of five months. The company, however, is well aware of these issues because it deliberately designs these products to fail after a certain period-a strategy to generate revenue through service charges. In the context of business behavior, Vandium's business conduct is:

__________is a widely accepted social movement that supports a buyer's right to be informed, to be safe, to choose, and to be heard.

Codes of conduct work best when people are given the freedom to choose whether they wish to follow them or not.

Janet reasons, "It is wrong to lie. However, it is okay to overstate my expense account on my recent business trip because I need the money, and my company has not given me a raise in the past year." In this scenario, Janet is an employee who views ethics as _____.

Crayon, a well-established beauty products company, partnered with the Lenora Birdstone Foundation, a nonprofit organization, to raise awareness about breast cancer and collect funds for setting up a cancer unit at a local hospital. The company accumulated a sum of $5 million by selling organic creams to more than 2,000 people. In this scenario, Crayon was most likely involved in _____.

The management of a steel manufacturing company decides to set up a new plant in a rural area. However, this would create waste management issues for the company. On the other hand, the company would incur higher costs if it sets up the plant in another area. The management thus finds itself in a situation where both the actions will have a negative consequence. This scenario exemplifies a(n) _____.

In the context of the core values identified by the Character Counts organization, being honest, not deceiving, cheating, or stealing, and doing what you say you'll do represent the universal ethical standard of__________.

Which of the following is a duty of a socially responsible organization toward its customers?

Cornell Health Care, a renowned American hospital, regularly collaborates with other health-care centers to provide small medical clinics in low-income countries drugs and medical services at lower than normal prices. In this scenario, this practice of collusion by Cornell Health Care is _____.