A) intangible costs such as legal and investigative costs incurred by the company.
B) internal administrative costs associated with ensuring future compliance.
C) intangible costs such as customer defections.
D) less visible costs such as costs of complying with often harsher government regulation.
E) visible costs to shareholders such as lower stock price.
G) A) and C)
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A) Actions to benefit shareholders (such as raising the dividend to boost the stock price)
B) Making charitable contributions and donating money and the time of company personnel to community service endeavors
C) Actions to ensure the company has an ethical strategy and operates honorably and ethically
D) Actions to protect or enhance the environment
E) Actions to create a workforce diversity program
G) A) and B)
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A) Actions to ensure that the company operates in an honorable and ethical manner
B) Actions to ensure diversity in the workforce
C) Actions (over and above what is required) to protect or enhance the environment,including both those environmental problems stemming from the company's own business activities and those problems outside the company's immediate sphere of operations
D) Actions to create a work environment that enhances the quality of life for employees and makes the company a great place to work
E) All of these
G) D) and E)
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A) because ethical standards are subjective,it is perfectly appropriate for each company to define and implement its own ethical principles of right and wrong as concerns the use of underage labor and the payment of bribes and kickbacks.
B) ethical standards are determined objectively (rather than subjectively) .
C) whether the payment of bribes/kickbacks should be deemed ethical or unethical depends on the moral standards,values,beliefs,convictions,and business norms that prevail in particular cultures,societies,countries,or circumstances.
D) ethical standards are objective and universal;thus,whether the use of underage labor and the payment of bribes and kickbacks should be deemed ethical or unethical definitely is not dependent on the moral standards,values,beliefs,convictions,and business norms that prevail in particular cultures,societies,countries,or circumstances.
E) standards of right and wrong are governed by what is legal in a given country;thus,whether the use of underage labor and the payment of bribes and kickbacks is ethical or unethical is governed by local law.
G) All of the above
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C
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The essence of the theory of corporate s...View Answer
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A) consider the commitment to shareholders as a "first-order" priority,commitment to employees as a "second-order" priority,and commitment to the environmental protection as a "third-order" commitment.
B) consider the commitment to the environment as a "first-order" priority,commitment to employees as a "second-order" priority,and commitment to shareholders as a "third-order" commitment.
C) consider the commitment to the environment as a "first-order" priority,commitment to shareholders as a "second-order" priority,and commitment to shareholders as a "third-order" commitment.
D) undertake initiatives directed at improving the company's triple bottom line (TBL) ,which places importance on economic,environmental,and social metrics.
E) believe that it is important to convince consumers to change buying habits that first consider meeting the consumer's needs to first considering whether the product is environmentally friendly.
G) A) and C)
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A) a company's duty to put the public interest ahead of shareholder interests.
B) societal expectations that all company stakeholders will be treated equally and fairly.
C) a company's duty to establish socially acceptable core values and to have a strictly enforced code of ethical conduct.
D) the responsibility that top management has for ensuring that the company's actions and decisions are in the best interest of society at large.
E) a company's duty to operate in an honorable manner,provide good working conditions for employees,encourage workforce diversity,be a good steward of the environment,and actively work to better the quality of life in the local communities where it operates and in society at large.
G) C) and D)
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Companies committed to environmental sus...View Answer
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A) vary enormously from religion to religion and country to country across the world.
B) are present in all societies,organizations,and individuals.
C) ultimately depend on the circumstances-nothing is really black or white when it comes to ethical standards.
D) are governed mainly by the thinking and writings of religious clerics at the School of Morally Correct Thinking and Behavior in Geneva,Switzerland.
E) ultimately depend on a person's own values and beliefs.
G) A) and C)
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A) greed,pervasive managerial immorality,and a general lack of scruples on the part of top executives regarding how customers and suppliers should be treated.
B) corporate cultures that put the bottom line ahead of ethics,heavy pressures on company managers to meet or beat performance targets,and overzealous or obsessive pursuit of wealth accumulation,power,status,and other selfish interests.
C) widespread managerial belief in the ethical relativism school of thinking.
D) an aversion to ethical correctness on the part of top executives and a belief that unethical behavior is unimportant and probably won't be discovered.
E) intense competitive pressures.
G) C) and D)
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A) Companies with good reputations for contributing time and money to bettering society are better able to attract and retain employees compared to companies with tarnished reputations.
B) Acting in a socially responsible manner nearly always results in higher profits and a higher stock price for shareholders.
C) To the extent that a company's socially responsible behavior wins applause from consumers and fortifies its reputation,a company may win additional patronage.
D) Operating in a socially responsible manner protects the company from consumer,environmental,and human rights activist groups that are quick to criticize businesses whose behavior they consider to be out of line.
E) Well-conceived social responsibility strategies help avoid or preempt legal and regulatory actions that could prove costly to the company.
G) D) and E)
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The school of ethical universalism and the school of ethical relativism are two contrasting approaches to understanding ethics and morality.
Ethical universalism posits that there are certain ethical principles and values that are universally applicable to all individuals and cultures. This means that there are objective moral truths that are independent of cultural or societal norms. Proponents of ethical universalism argue that certain actions are inherently right or wrong, regardless of the cultural context in which they occur. This approach emphasizes the existence of a common moral framework that applies to all people, regardless of their background or beliefs.
On the other hand, ethical relativism argues that ethical principles and values are not universal, but rather are relative to the cultural, societal, or individual context in which they are applied. According to this perspective, what is considered morally right or wrong can vary from one culture or society to another. Ethical relativism acknowledges the diversity of moral beliefs and practices across different cultures and emphasizes the importance of understanding and respecting these differences.
In summary, the key difference between the school of ethical universalism and the school of ethical relativism lies in their views on the universality of ethical principles. While ethical universalism asserts the existence of objective moral truths that apply universally, ethical relativism emphasizes the cultural and contextual variability of ethical beliefs and practices.
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A) are governed by the school of ethical universalism.
B) are governed both by (1) a limited number of universal ethical principles that are widely recognized as putting legitimate ethical boundaries on actions and behavior in all situations and (2) the circumstances of local cultures,traditions,and shared values that further prescribe what constitutes ethically permissible behavior and what does not-but universal norms always take precedence over local ethical norms.
C) are governed by each country's Code of Required Ethical Conduct,which sets forth that each individual/group/business/organization has a "social contract" to observe the ethical and moral standards that the country has adopted.
D) should be determined by the company's board of directors.
E) should never be absolute but rather always provide some wiggle room according to the circumstances of the situation.
G) A) and B)
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A) what actions to take to enhance workforce diversity and make the company a great place to work.
B) whether to make charitable contributions and donate money and the time of company personnel to community service endeavors.
C) what,if any,actions to take to protect or enhance the environment (beyond what is legally required) .
D) exerting conscious efforts to ensure that all elements of the company's strategy are ethical and actions to make the company a great place to work.
E) All of these
G) B) and D)
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A) encouraging company personnel to run for political offices.
B) balancing strategic actions to benefit shareholders against the duty to be a good corporate citizen.
C) undertaking actions to balance the interests of all company stakeholders rather than just exclusively look out for the interests of shareholders.
D) making sizable contributions to political action committees representing the interests of the industry.
E) pursuing actions to keep prices low enough that the company's profits will not be viewed by the general public as obscenely high or exorbitant.
G) A) and B)
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A) a managerial mind-set that "the business of business is business,not ethics."
B) overzealous pursuit of personal gain,wealth,and other selfish interests.
C) a company culture that puts the profitability and good business performance ahead of ethical behavior.
D) heavy pressures on company managers to meet or beat earnings targets.
E) All of these.
G) All of the above
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A) base their standards of what is ethical and what is unethical on the Global Code of Ethical Conduct first developed in 1935 and since subscribed to by the governments of 180 countries.
B) have little moral basis for ethical standards companywide because it has no ethical standards or principles of its own.
C) have no fair way to judge the ethical correctness of the conduct of company personnel.
D) have a one-size-fits-all set of ethical standards.
E) end up allowing each company employee to determine what set of ethical standards to observe.
G) A) and D)
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B
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A) what constitutes ethical or unethical conduct varies according to the religious convictions of each society or each culture within a country.
B) when there are country or cross-cultural differences in what is considered ethical or unethical in business situations,it is appropriate for local moral standards to take precedence over what the ethical standards may be elsewhere.
C) concepts of right and wrong are always governed by business norms in each country,culture,or society.
D) concepts of right and wrong are always a function of each individual's own set of values,beliefs,and ethical convictions.
E) concepts of right and wrong as they apply to business behavior are always varying shades of gray,never absolute (i.e. ;black or white) .
G) B) and C)
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