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Exam 2: Understanding Business Ethics and Social Responsibility

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Question 1

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Which of the following should be the first step in assessing ethical behavior in a certain situation?

A) Seek the advice of managers.
B) Make a judgment based on the outcome of the activity.
C) Consider appropriate moral values.
D) Collect facts related to the situation.
E) Gather a range of opinions on the effectiveness of the policy.

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Question 2

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When a firm modifies a production process to limit the consumption of valuable resources,and promotes the product produced as environmentally friendly,what business practice are they engaging in?

A) Collusion
B) Consumerism
C) Green marketing
D) Recycling
E) Near zero status

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C

Question 3

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Which of the following allows for financial sanctions against businesses or business officials who engage in bribery?

The Consumer Bill of Rights is backed by numerous federal and state laws.

What is likely the single MOST effective step that a company can take to set ethical standards?

What are individual beliefs about what is right and wrong or good and bad referred to as?

There is general consensus within the United States that social responsibility must take precedence over profits.

Explain the steps that an organization must take to foster a company-wide sense of social responsibility.

Which of the following occurs when someone uses confidential information to gain from the purchase or sale of stocks?

A company that does not act responsibly toward its customers may lose their trust and ultimately their business.

In business,ethical decisions are generally based on what?

Soliciting favors from an organization or politician,or other influence tactics to gain support are often legal.

What government agency has the responsibility to oversee consumer-related concerns?

What stance do firms who do as little as possible to solve social or environmental problems take?

A conflict of interest occurs when an activity may benefit the individual to the detriment of his or her employer.

What stakeholder group is being protected when managers follow proper procedures and strive to be accurate and candid in assessing future growth?

Some actions may be illegal,yet considered ethical.

If a manager believes their job is to generate profits and is willing to do everything legally required,but no more,what social responsibility stance is being taken?

What government agency has the responsibility to handle investor-related issues?

Which of the following is the act of awarding funds or gifts to charities?