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Exam 5: Ethics and Corporate Responsibility

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Question 41

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An ethical issue is a situation,problem,or opportunity in which an individual is obligated by law to choose among several actions that must be evaluated as right or wrong.

A) True
B) False

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Question 42

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Scenario D. Eagle Manufacturing, Inc. is in the middle of its first day of the senior management retreat. The topic on the agenda is corporate social responsibility (CSR) . Most of the group has seen this brought up before and then shot down because it generally costs Eagle's shareholders in the form of a lower stock price. But the new VP of Ethics, Gloria Wright, is about to explain why she believes CSR will actually benefit the shareholders and Eagle management alike. Her team begins the presentation with a discussion of CSR—its current definition and reconciliation of past views. Jeremiah then discusses the importance of being a good global corporate citizen by supporting the local school system. Ellen takes the floor to make the case for doing what is expected by global stakeholders even though there are no laws requiring those actions. Finally Gloria wraps the discussion up with why Eagle should take legal and economic responsibility for the firm's performance. To Gloria's team's credit, senior management does appear to buy into the pyramid of global corporate social responsibility and performance that her team just presented. -Jeremiah's presentation most likely focused on the __________ responsibility of the firm.

A) economic
B) legal
C) ethical
D) social
E) philanthropic

F) A) and B)
G) D) and E)

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Question 43

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Virtue ethics goes beyond the conventional rules of society.

Utilitarianism is an ethical system stating that the greatest good for the greatest number should be the overriding concern of decision makers.

Which of the following is a danger sign that organizations may be allowing or even encouraging unethical behavior?

Scenario A. Your organization faces an ethical question. There has been a problem with your accounting process that has resulted in lower profits being reported than were actually earned. You are attending a meeting where senior management is deciding how to handle the situation. The people at the table have varying views of what action to take and why. John wants to report the error immediately because he believes that it is the right thing to do and that will keep them all out of jail. Bruce wants to report the error because it is the honest thing to do. After hearing his colleagues' opinions, Carlos says he wants to report the error as well because he believes the group is right. -John is using which ethical system for his decision making?

People in the ____________ stage of Kohlberg's model take a broader perspective in which they see beyond authority,laws and norms and follow their self-chosen ethical principles.

Economic growth and development that meets present needs without harming the needs of future generations is known as

Describe Kohlberg's model of cognitive moral development.Give an example for each of the stages.

Relativism defines ethical behavior based on the opinions and behavior of other people.

A process for ethical decision making begins with understanding all moral standards.

Honesty,caring,loyalty,fairness and integrity are all examples of

Discuss ecocentric management.How can it be beneficial to organizations?

Life-cycle analysis (LCA)quantifies the total use of resources and the releases into the air,water and land.

__________ is a process of analyzing all inputs and outputs,through the entire "cradle-to-grave" life of a product,to determine the total environmental impact of the production and use of a product.

The process for ethical decision making begins with

A compliance-based ethics program creates a moral commitment to ethical conduct.

Astroturfing is a deceptive practice.

The __________ of an organization refers to the processes by which decisions are evaluated and made on the basis of right and wrong.

Scenario B. Suppose you face a question regarding how to handle a defective piece of equipment that your company sold. To tell the customer would cost you a substantial amount of money but if the equipment fails, it could lead to serious injury of the customer. You are going to choose between three options presented by colleagues: 1. Option 1: Keeping quiet about the defect. 2. Option 2: Review company policy, industry practices and advice from colleagues. 3. Option 3: Disclose the defect and suggest alternatives to eliminate the risk of injury. -Option 3 employs which ethical approach?