In general, business ethics consists of
the application of ethical principles and standards to the actions and
decisions of business organizations.
Adherents of ethical universalism are likely to believe that
common agreement about right and wrong is the basis for ethical standards
that apply to all businesspeople.
Which of the following statements accurately reflect how ethical standards
vary among different cultures?
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likely to highly value showing respect for the collective good of society.
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European managers, in contrast to Chinese managers, tend to
emphasize business standards that protect workers' freedom of
political opinion.
Which of the following are actions a company should take according to
integrative social contracts theory?
Adhere to local values and customs that define the boundaries of ethical
behavior.
Uphold a small number of universal ethical principles that are applicable in
all situations.
Which of the following statements about official codes of ethical conduct is
most accurate?
In the United States, publicly traded companies must have an official code of
ethics or explain why they do not have one.
True or false: Ethical principles in business differ substantially from general
ethical principles in society.
False
Which the following practices increase the likelihood that a company will
pursue unethical business strategies?
putting pressure on company managers to meet short-term targets
faulty oversight of daily business practices
According to the concept of ethical universalism, fundamental concepts of
right and wrong
transcend culture, society, and religion.
What is a downside to an unethical business strategy?
It reflects badly on the character of the company and its employees.
Differences in which of the following cause variations in ethical standards
across cultures?
social customs
religious beliefs
core values
Ethical business managers
understand that there is a difference between simply having a code of ethics
and seeing that the company follows it.
provide an example to other employees by consciously living by the
company's business principles.
Which set of standards takes precedence in integrative social contracts
theory?
universal ethical norms
Business managers who are
not
deeply committed to ethical principles may
nevertheless act ethically because they
hope to prevent their staff from thinking negatively of them.
recognize the risks associated with unethical strategies.
wish to avoid scandal and disciplinary action.
Examining which of the following are ways to determine whether a company
is actually guided by its official code of ethics?
the extent to which daily operations follow the code of ethics
whether the company adheres to the code of ethics when crafting strategy
A corporate social responsibility strategy can be defined as
the combination of socially responsible endeavors a company elects to
pursue.
Which of the following statements is true concerning the thinking that the
"business of business is business, not ethics"?
That type of thinking has been apparent in a number business scandals
covered in the media.
That type of thinking is dangerous because it increases the likelihood that a
company will adopt unethical strategies.
Which of the following statements concerning the relationship between
business and the environment is true?
Maintaining the finite supply of the world's natural resources is crucial to the
long-term economic interests of corporations.
Which of the following is a reason for a business to establish an ethical
business strategy?
to provide a competitive advantage, serving the self-interest of shareholders
The environmental sustainability strategies of Ford and Green Mountain
Coffee Roasters have shown that
a significant number of consumers will buy a company's products in part to
encourage environmentally sustainable business practices.
Ethical business strategies
typically arise from managers with strong moral characters.
Some people have argued that there is an implied social contract between a
business and the members of society, according to which of the following?
A business has a moral responsibility to promote the general welfare and
avoid doing harm.
The members of society agree not to unreasonably restrain a business's
pursuit of fair profit.
Ethical strategies are good business because they are likely to
win the approval of suppliers, employees, and investors.
sustain the reputation of the company.
Which of the following actions can be effective ways to stop companies that
practice socially irresponsible behaviors?
enacting legislation that makes the activity illegal
publicizing the bad behavior of companies
boycotting the companies' products and services
Which of the following statements about corporate social responsibility (CSR)
are true?
Many firms organize their CSR strategies around themes that are consistent
with their production or marketing strategies.
"Corporate citizenship" is a term commonly used to describe CSR initiatives.
CSR strategies are often linked to a company's core values.
In the business world, the term "sustainability"
is used to refer to the relationship of a company to its environment and its
use of natural resources.
has been used interchangeably with the term "corporate social
responsibility."
An environmental sustainability strategy can enhance a company's
competitive advantage by
promoting the company's reputation among environmentally conscious
consumers.
Which of the following have been cited as reasons why a company has a
moral obligation to act in a manner that benefits all stakeholders?
ordinary decency
civic-mindedness
Which of the following would be an example of a company shifting the
environmental cost of its business onto society?
A manufacturer disposes of waste in public waters that must be treated and
cleaned with tax revenues.
