Ch. 5 Business Ethics

_______ argued that companies "do well by doing good." Michael Porter Milton Friedman John Rawls Adam Smith Benjamin Franklin

Benjamin Franklin

The act that outlaws paying of bribes to foreign government officials to gain business is known as International Corruption Act. Non-Payment Act. Prevention of Corruption Act. Foreign Corrupt Practices Act. Correct Money Laundering Act.

Foreign Corrupt Practices Act.

An economic argument put forth for speed money is that it removes bureaucracy. creates growth for all nations, developing and developed. lowers the prices of goods. helps gain exclusive contracts.

removes bureaucracy

Which of the following accurately describes the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions? allows facilitating payments bans bribing and speed money allows bribing wasn't signed by all OECD countries is recognized by all countries

allows facilitating payments

Which of the following is an accurate depiction of facilitating payments? gives a business exclusive rights removes competition legal in many countries also known as speed money

also known as speed money

The idea that businesspeople should consider the social consequences of economic actions when making business decisions and that there should be a presumption in favor of decisions that have both good economic and social consequences refers to corporate social responsibility. sustainable strategy. Kantian ethics. rights theory. business ethics.

corporate social responsibility

Suppose a company sets up production in a developing economy where it is common to dump manufacturing waste directly into the river. Even though the company would never follow this practice at its domestic facility, and regardless of whether it ignores the Sustainable Development Goals established by UNCTAD, the company decides to follow the local practice. This approach to business ethics is consistent with cultural relativism. Moore's Law. the Sullivan Laws. the Righteous Moralist. the Friedman Doctrine.

cultural relativism

The concept of socially responsible behavior by U.S. corporations was part of the Corporate Reform Act. dates back to the late 1700s. emerged as way to help stabilize the country after World War II. was developed in response to the financial crisis of 2008. began after the Enron crisis when companies needed to improve their reputations.

dates back to the late 1700s

Companies can help to ensure they do their part toward achieving the Sustainable Development Goals set out by UNCTAD by drafting a corporate code of ethics. creating a just distribution of assets. maximizing their veil of ignorance. following the Friedman Doctrine. pursuing a strategy consistent with Moore's Law.

drafting a corporate code of ethics

How long did the formal investigation of Crime-ler take? eight months a week after the discovery there was no official inquiry eight years eight days

eight years

Suppose an executive learns that there are several children working in his company's facility in a developing country. The children are at work because they are the sole earners for their families. The executive knows that if he fires the children, their families will lose their only source of income and his company will not being doing its part to help meet UNCTAD's Sustainable Development goal of reducing poverty, yet he is uncomfortable with child labor. This executive is unaware of business ethics. Is contributing to the global tragedy of the commons. should use speed money to help. is facing an ethical dilemma. is following the Sullivan laws.

is facing an ethical dilemma

Moral philosophers argue that companies have a responsibility to give back to society as a means of offsetting the ____ they have as a result of their control over resources and ability to move production from one country to another. change power sales profits revenues

power

Sweden is leading the way in achieving the Sustainable Development Goals set forth by UNCTAD. Suppose a Swedish manager has just been asked to oversee his company's new plant in a developing economy. The manager wants to be sure that the new facility follows Swedish ethical principles. The manager's behavior is consistent with the ______ approach to business ethics. naïve immoralist tin man righteous moralist cultural relativism Kensian

righteous moralist

UNCTAD has called for governments, businesses, and all people to do their part toward achieving the Sustainable Development Goals set out in the 2030 Agenda for Sustainable Development. For business, this means considering the impact of their actions on stakeholders. A company's internal stakeholders include the board of directors, employees, and governments. customers. local communities. shareholders. suppliers.

shareholders

Who benefits from corporate social responsibility? unions management the local community government low-level employees

the local community