Exam 3: Business Ethics and Social Responsibility: Doing Well by Doing Good

What is the term for the practice of deliberately designing a product to fail in order to shorten the time between a consumer purchase and a repurchase?

If two different individuals facing the same ethical dilemma use the same ethical framework,they should always reach the same ethical decisions.

What are two of the greatest ethical challenges faced by firms in the global arena?

Planned obsolescence designs products with limited durability in order to shorten the time between consumer purchases.

Universal ethical standards are ethical norms that apply to people across a broad spectrum of situations.

Companies use watchdog groups to monitor employee behaviours while away from the work site.

Studies have shown that as long as a company establishes a written code of ethics,it doesn't really have to actively enforce that code in order for it to be effective.

Firms that market globally are exempt from any responsibility for the well-being of workers abroad.

What is cause-related marketing,and what does it seek to accomplish? Give an example of how this strategy can be employed.(You can either describe a real-world example,or you can pick a well-known company and describe a way in which they could implement such a strategy.)

You are a manager for a large financial services firm whose brokers trade stocks and bonds for individual customers.Your boss has provided you with your team's sales goals for the following six months.You know that the fastest way to achieve the lofty numbers is to recruit experienced brokers from competitor firms to join your firm.These professionals are likely to bring loyal clients who initiate a lot of trades,making you a clear winner in the eyes of top management.The current brokers in your department are good.They've worked hard and done everything you've asked of them.But they are young and inexperienced.There is a good chance they can achieve the sales goals,but it's not a sure thing.If you seek to recruit new brokers,your current brokers will move down in the ranks and will earn smaller commissions.Which of the following statements best describes this situation?

Canadian retailers such as Roots and Zellers need not be concerned with child labour laws in the nations where they contract-manufacture their clothing lines,as long as the laws of those nations permit children to work in sweatshops and soft-goods factories.

Ethical standards are established based on guidelines provided by the Canadian government.

Define green marketing and describe some of its challenges.

Cause-related marketing dollars are not tax deductible for a company but often enhance the company's brand.

What is the term for situations in a business setting where the values of employees are in conflict and the firm is often faced with choosing between the lesser of two evils?

An ethical lapse is a situation in which every choice has undesirable consequences,forcing the decision maker to choose between undesirable alternatives.

Harbor Paint Products Inc.proactively implemented an incentive program that rewarded employees for soliciting customer feedback on its new deck stain product.Outside sales professionals,inside customer service representatives,and partner retail associates were asked to contribute a minimum of seven customer impressions (positive or negative)each week into a company marketing database.What did this program promote?

Which of the following best describes the concept of a living wage?

Define corporate philanthropy and corporate responsibility.Explain how each contributes to society.

Most employees want to make ethical decisions but often find themselves facing situations where the choice is difficult.Discuss six principles that can help individuals determine the most ethical response to complex issues.Describe a real-world situation where these principles could be applied.