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

A manager advises his company that a vendor will offer the company a discount if contracts are renewed another 12 months.This is an example of an unethical business practice.

The federal government is a core stakeholder for all businesses.

According to research by the ERC (Ethics Resource Center),what is the most important influence on ethical behaviour in the workplace?

It is possible for someone's actions to be completely legal yet still be unethical.

What is the term for developing and promoting environmentally sound products and practices to gain a competitive edge?

What is the term for a person who reports illegal or unethical behaviour within an organization?

Which of the following refers to the systematic evaluation of how well a firm is meeting the goals of ethics and social responsibility?

Which statement best describes a written code of ethics?

Universal ethical standards also apply to international businesses.

Whose priorities do socially responsible businesses consider in their business decision making?

According to a group of residents who live in a neighbourhood a few kilometres from an Early Oil Company refinery,the plant's emissions are a likely cause of severe headaches and other health problems among young people.Since these residents are not customers,employers,or investors in the company,Early Oil has no social responsibility to these individuals.

A company that produces gourmet coffee includes its employees,coffee bean growers who supply the company,people who drink its gourmet coffee,and the people who live in the community where the company produces the coffee.What is the term for these various groups?

One problem with socially responsible business policies is that they tend to undermine the value of the firm to its owners.

Socially responsible companies use social audits to determine if an employee's ethical needs are to be adjusted.

Will establishing a code of conduct for vendors in foreign nations be successful?

The law regulates standards of behaviour; however,it does not enforce ethical norms.Therefore,companies should focus on the legality of their actions and not worry about their ethical implications.

A medical facility operates illegally and unethically when they allow pharmaceutical companies to market to their customers

Explain how a socially responsible employer creates a balanced workplace for employees.

Before conducting a successful social audit,a company must define socially responsible goals and determine realistic measurements for those goals.

The federal government may be a major stakeholder in private business organizations.