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Exam 2: Business Ethics and Social Responsibility

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Question 1

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Which of the following is an incorrect statement regarding values?

A) Values are positive abstractions.
B) Values capture our sense of what is good or desirable.
C) Values come from the interplay of ethics.
D) Values are ideas that underlie conversations about business ethics.
E) Values represent our understanding of the purposes we will fulfill by making particular decisions.

F) A) and B)
G) All of the above

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Question 2

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Employees are not stakeholders of a business.

A) True
B) False

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False

Question 3

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Ethics is the study and practice of decisions that meet,but do not exceed,minimum standards of behavior prescribed by law.

In 2007,Dole was sued by a group of its employees for:

Business ethics refers to standards of business conduct,not a set of correct decisions.

We derive our ethics from the interplay of values.

The "public disclosure" test is also known as the ________.

Environmental Concerns.Connie,the president of a company that makes paper,has a new interest in the environment.She recently went to a seminar on environmental dangers and has decided to take steps to clean things up.She started at home and was also committed to change things at work.Connie had to face the fact that her company has been cheating and is not in compliance with applicable environmental regulations due to dumping in a nearby river.Her company has never been cited,however,because it employs a very large number of people in the community,including the mayor's wife and the chief-of-police's brother.On her mission to clean things up,Connie has decided to go even further than the law requires and install the very latest environmental protections.When she announced her plan,the chair of the company's board of directors,Brooke,had a meeting with Connie.Brooke told Connie to analyze the situation carefully because the cost of the additional equipment would mean no dividend to shareholders and no raise for employees.Furthermore,Brooke told Connie that installing all the new equipment would result in higher prices for the company's paper products and could bankrupt the company because of foreign competition.Brooke hinted that Connie could be fired if she persisted.Brooke suggested that Connie just be concerned with a minimal standard of ethics.Which of the following would be a stakeholder in the company?

Explain the WH process of ethical decision-making.

Ethical standards are uniform globally.

An ethical ________ is a problem about what a firm should do for which no clear,right decision is available.

Environmental Concerns.Connie,the president of a company that makes paper,has a new interest in the environment.She recently went to a seminar on environmental dangers and has decided to take steps to clean things up.She started at home and was also committed to change things at work.Connie had to face the fact that her company has been cheating and is not in compliance with applicable environmental regulations due to dumping in a nearby river.Her company has never been cited,however,because it employs a very large number of people in the community,including the mayor's wife and the chief-of-police's brother.On her mission to clean things up,Connie has decided to go even further than the law requires and install the very latest environmental protections.When she announced her plan,the chair of the company's board of directors,Brooke,had a meeting with Connie.Brooke told Connie to analyze the situation carefully because the cost of the additional equipment would mean no dividend to shareholders and no raise for employees.Furthermore,Brooke told Connie that installing all the new equipment would result in higher prices for the company's paper products and could bankrupt the company because of foreign competition.Brooke hinted that Connie could be fired if she persisted.Brooke suggested that Connie just be concerned with a minimal standard of ethics.Which of the following is the minimal standard that a business must meet in a consideration of business ethics?

Which of the following is an example of the primary value of freedom?

The "W" in the WH process of ethical decision making stands for:

A business decision cannot be legal but unethical.

Business managers should make sure they consider all relevant stakeholders when they engage in ethical reasoning.

The idea that we should interact with other people in a manner consistent with the manner in which we would like for them to interact with us is called the ________.

An ethical dilemma is a problem about what a firm should do for which no clear,right decision is available.

Environmental Concerns.Connie,the president of a company that makes paper,has a new interest in the environment.She recently went to a seminar on environmental dangers and has decided to take steps to clean things up.She started at home and was also committed to change things at work.Connie had to face the fact that her company has been cheating and is not in compliance with applicable environmental regulations due to dumping in a nearby river.Her company has never been cited,however,because it employs a very large number of people in the community,including the mayor's wife and the chief-of-police's brother.On her mission to clean things up,Connie has decided to go even further than the law requires and install the very latest environmental protections.When she announced her plan,the chair of the company's board of directors,Brooke,had a meeting with Connie.Brooke told Connie to analyze the situation carefully because the cost of the additional equipment would mean no dividend to shareholders and no raise for employees.Furthermore,Brooke told Connie that installing all the new equipment would result in higher prices for the company's paper products and could bankrupt the company because of foreign competition.Brooke hinted that Connie could be fired if she persisted.Brooke suggested that Connie just be concerned with a minimal standard of ethics.Connie,however,decides to go forward with her plan to clean things up under the theory that she wants to treat others in the same manner that she wants to be treated.Under Connie's theory,if she did not understand the importance of the environmental improvements,she would want them to be thrust upon her.Connie's idea is best referred to as the ________.

If we consider what the world would be like if a decision is copied by everyone else,we would be using which of the following ethical guidelines?