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Exam 2: Business Ethics and Social Responsibility

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Question 61

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Corruption impedes economic development.

A) True
B) False

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Question 62

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The social-responsibility school holds that businesses profit by being responsive to society.

A) True
B) False

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Question 63

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Sarbanes-Oxley is:

The statement, "What's good for GM is good for the country," is an example of the thoughts of a manager from the:

Warren Buffett follows the Front-Page-of-the-Newspaper test as a guide for his businesses.

An anonymous reporting system is a requirement for companies under Sarbanes-Oxley.

Business ethics is the application of standards for moral reasoning to business dilemmas.

Rationalization is one form of ethical analysis.

Yucca Mountain is the proposed location for the disposal of spent nuclear fuel rods from the nuclear plants located in the United States. Who of the following are stakeholders in the decision about whether to open Yucca Mountain?

Jane Eyring works for PharmaMeds, Inc. Jane is a physician-scientist who is responsible for running the pilot tests on PharmaMed's new oral spray medication for individuals with adult onset diabetes. Jane has discovered that if those in the test group do not spray the medicine correctly or if they spray for too short of a time, the medicine is not effective, or as effective, and insulin shock has resulted in a few of the patients. Jane talks with one of her colleagues who responds, "Look, there's no need to stop the testing or the drug's release. Just tell them in the test and in the brochures that will be with the spray, 'Spray correctly! If you do not, you may not receive your necessary dose.'" Jane is not sure anyone can be 100% accurate in spraying all the time. Whom is affected by Jane's decision, regardless of what decision she makes?

Business ethics provides a guarantee of profitability.

"I was just following orders," is a defense in law and a test for ethical behavior.

According to the 2012 Corruption Perception Index, which country is perceived as the least corrupt?

In the Parable of the Sadhu:

The regulatory cycle provides an opportunity for self-regulation during the latency stage.

Conflicts of interest can result in the use of quid pro quo.

Invisible hand managers do not become involved in social issues.

A lack of business ethics can result in a lack of business goodwill.