MGMT 1005 Questions

Which author wrote "This great increase in the quantity of work, which, in consequence of the division of labour, the same number of people are capable of performing, is owing to 3 different circumstances; first, to the increase of dexterity in every particular workman; secondly, to the saving of the time which is commonly lost in passing from one species of work to another; and, lastly to the invention of a great number of machines which facilitate and abridge labour, and enable one man to do the work of many..."?

Adam Smith

Based upon the information contained in the Enron case and the info from class, which individual is credited with the most responsibility for (and personal self-enrichment from) Enron's development of complicated "special purpose entity" structures by which Enron was able to keep significant amounts of debt from being consolidated into their financial statements

Andy Fastow

Which author wrote the following quote "However, these 4 billion people who make up the BOP are not a monolith. They represent multiple cultures, ethnicity, literacy, capabilities, and needs. They can be segmented in multiple ways..."

CK Prahalad

Modern economies contain elements of three economic systems--traditions, commands, and markets. Which economic system does the regulation of the prices charged to consumers of a natural gas utility industry represent? a) Command based b) Tradition based c) Market based

Command based

Which author wrote the following quote "If Portugal had no commercial connexion with other countries, instead of employing a great part of her capital and industry in the production of wines, with which she purchases for her own use the cloth and hardware of other countries, she would be obliged to devote a part of that capital to the manufacture of those commodities, which she would thus obtain probably inferior in quality as well as quantity."

David Ricardo

A "classical liberal standard" for establishing wage safety standards in a developing country is characterized by strong government regulation, with rules and laws setting minimum wage levels and with safety conditions closely monitored by the government

False

According to Prahalad, the "Bottom of the Pyramid" is a term used to categorize the pre-conventional moral decision making of western firms that fail to follow the "4 A's" of marketing in developing countries

False

Choosing to operate a clothing factory with numerous fire safety violations because other factory owners have also chosen to ignore fire safety rules would be characterized as a post-conventional decision, according to Kohlberg

False

Free markets are just (and justified) for many reasons, including the reason that they minimize the economic utility for a few individuals at the expense of the overall good of society

False

Gilligan would characterize the "Alliance" and the "Accord" as being representative of the "separated seld", based on competition and not cooperation

False

In the White article about Carol Gilligan's ethic of care, gender differences between managers were demonstrated by experiments that showed that male respondents were more likely to return an accidentally-dropped marketing plan unread, as a recognition of the "connected" nature of business relationships

False

In the video we watched about the oil drilling in the Niger Delta, a village elder of the Ogoni people described how the villagers worked together closely with Royal Dutch Shell to ensure that important agricultural and fishing areas would be preserved, ensuring that the "greater good" would be fairly distributed

False

Ken Lay had considerable political connections, but very little formal training in economics, so he hired Jeff Skilling, with an MBA from Harvard, to develop the energy trading business for Enron

False

Rawls' principle of justice are neither universal nor utilitarian, but can still be properly categorized as a teleological approach

False

Ricardo's theory of "comparative advantage" recognized the value of traditional ways of farming and producing goods, encouraging countries to support local and intergenerational cultural traditions as a way of achieving greater overall economic growth

False

The Triangle Shirtwaist Factory Fire and the Tazreen Factory Fire were similar in many ways, including the fact that many young women died, that many of the fire exit doors at the times of the fires were inadequate, and that the response to both fires included new laws enforced y the government to protect factory workers

False

When Adam Smith described his theory of division of labor and specialization, he chose to illustrate his theory with a description of workers in a garment factory

False

a teenager from Russia who is able to hack into and steal credit card numbers from Target Corporation using his laptop provides a frightening example of which of the following stages of globalization described by Thomas Friedman?

Globalization 3.0

Which author wrote the following quote "As much land as a man tills, plants, improves, cultivates, and can use the product of, so much is his property. He by his labour does, as it were, enclose it from the common..?"

John Locke

Which author wrote the following quote " Each of those principles applies to a different part of the basic structure; and both are concerned not only with basic rights, liberties, but also with claims of equality; while the second part of the principle underwrites the worth of these institutional guarantees. The 2 principles together, when the first is given priority over the second, regulate the basic institutions which realize these values..."?

John Rawls

which moral philosopher would agree with the following statement: when assessing an ethical dilemma and choosing among alternative actions, one must always look at the consequences and outcomes of the action, giving greater value to the outcomes that are valued by human rational thought instead of mere sensation, and choose the action that creates the greatest good for the greatest number

John mill

Which author wrote the following words" "at the last 2 stages, then choice is based on the principles that supersede convention, just as previously the claims of society or convention were seen as the ground for adjudicating differences between individuals...

Lawrence Kohlberg

Which of the following is correct about the Enron case? a) Enron's Code of Ethics had a conflict of interest policy with a general rule against full-time officers and employees owning an interest in another entity that does business with or is a competitor of Enron b) The percent increase of Enron's earnings from Domestic Trading form 1999-2000 was significantly higher than the percent increase in earnings from Domestic Pipelines and international operations c) Sherron Watkins, in her letter to Ken Lay, said that she was "incredibly nervous that we will implode in a wave of accounting scandals" d) None of the above

None of the above

which author wrote the following quote "It is this convergence of new players on a new playing field, developing new processes for horizontal collaboration--that I believe is the most important force shaping global economics and policy in the early 21st century"

Thomas Friedman

A living wage standard for wages can be achieved when wages are based upon the actual cost of housing, food, etc., in the country where the worker lives

True

According to Bentham, the calculation of happiness of any action involves "hedonistic categories" including fecundity and purity, which are measured when actions are repeated after the first instance

True

According to Kant, unless the principle of your action can be universalized, to make an exception to yourself is immoral

True

Aggressive use of mark-to-market accounting was used by Enron to increase reported revenues in its audited financial reports, making Enron's current financial position seem stronger than it actually was

True

Dan Ariely's experiments showed that individuals who were reminded of moral codes before taking an experimental test were less likely to cheat than those who were not reminded of moral codes

True

Prahalad described the biomass stove, which was designed to improve the health and quality of life of rural women in India, as an example of product development within the constraints of the innovation sandbox

True

Shareholders of western clothing retailers demonstrate a pre-conventional level of moral decision making if they're unconcerned about the hazardous working conditions for Bangladesh workers as long as their shares remain valuable and the retailers make profits

True

Thomas Friedmna's description of Globalization 3.0 includes "outsourcing" as a way to save on salary costs and also to get better skilled and more productive workers

True

which of the following is/are the most accurate descriptions of product development via Prahalad's innovation sandbox a) when designing products for the BOP, one must remember that poor customers in developing nations willingly accept new technology b) when designing products for the BOP, one should adopt a playful, creative attitude and have as much fun as possible, with no limit's for one's ultimate idea c) when designing products for the BOP, one must act in rational self-interest at all times, with little regard for the needs of the customer d) when designing products for the BOP, one must operate within certain constraints so that the products can be affordable and accessible to the customer

a and d

in White's article about Gilligan's ethic of care, the separated self is contrasted with the connected self/ Which of the following examples from our course readings and discussions are NOT representative of the "connected self"? a) Enron's "Performance Review Council" rating system for employees b) Prahalad's description of the process to develop the biomass stove c) Walmart's decision to join the Alliance for Bangladesh worker safety d) The Ogoni people choosing to smoke and sell fish to care for their children

a) Enron's "Performance Review Council" rating system for employees

A "rights-based" argument in opposition to Royal Dutch Shell's oil drilling that could be made by the Ogoni people to the Niger Delta is best exemplified as...: a) Royal Dutch Shell is polluting the resources needed by the Ogoni people to pursue their chosen way of life, taking away their dignity and ability to choose how to provide for their children, and forcing them to move b) Royal Dutch Shell is polluting the resources need by the Ogoni people to pursue their chosen way of life, and this burden is being borne by the Ogoni without compensation from Shell, which has greatly benefited c) Royal Dutch Shell is polluting the resources need by the Ogoni people to pursue their chosen way of life, and has resulted in terrible consequences that have impacted farming and fishing and reduced overall societal good

a) Royal Dutch Shell is polluting the resources needed by the Ogoni people to pursue their chosen way of life, taking away their dignity and ability to choose how to provide for their children, and forcing them to move

According to Kant, which of the following should be part of the analysis of whether an act is right or wrong? a) Universalizability of any action b) Intent of the actor alone c) Respect for persons and dignity d) Appreciation for higher sentiments e) Repeatability of the pleasure of the action

a) Universalizability of any action b) Intent of the actor alone c) Respect for persons and dignity

which of the following concepts is NOT a feature of a perfectly competitive market? a) only sophisticated buyers/sellers, some dominate the market b) all can freely enter/leave the market c) full transparency, knowledge of quantity, quality, and price d) good so similar no one prefers buyers or sellers

a) only sophisticated buyers/sellers, some dominate the market

If John Stuart Mill were to analyze the Bangladesh factory fire case, which of the following statements would be the most accurate factually and according to his theory of utility? a) the treatment of the workers at the Tazreen factory was unethical because of the tragic and fatal outcome of the fire in which 112 workers died, causing not only immediate physical pain and suffering, but also causing overall societal grief b) the treatment of the workers was unethical because the Tuba group intentionally sent Walmart's order to the Tazreen factory, which was known to be unsafe, and in doing so, used the factory workers as a means to an end c) the treatment of the workers was unethical because they were not only denied their basic rights, but also because the workers didn't have fair opportunity to choose another job and their low status deprived them of being able to benefit in a meaningful way from the garment industry d) the treatment of the workers was unethical because the factory owners should have had a responsibility to their long term employees based upon their relationship to take greater care of their needs and to balance that duty with their duty to make profits

a) the treatment of the workers at the Tazreen factory was unethical because of the tragic and fatal outcome of the fire in which 112 workers died, causing not only immediate physical pain and suffering, but also causing overall societal grief

Based upon the information contained in the Exhibits in the Enron case, which of the following statements is/are correct? a) Jeff Skilling abruptly resigned as CEO of Enron on August 14, 2001 b) Enron's month end stock price in 1999 and 2000 was often well above month end price of other stocks on the Standard and Poor's Index c) Before the collapse of Enron, Ken Lay had a career as a respected business leader and government lobbyists d) all of the above

all of the above

which one of the following is NOT one of the 4 A's described by Prahalad a) availability- the product must have an uninterrupted supply b) affordable- the product must be affordably priced for the BOP c) attractive- the product must look good and be stylish d) awareness- consumers need to be taught about the product

attractive

Which of the following statement(s) about the garment industry in Bangladesh are NOT CORRECT according to the information supplied by the case we read on the topic? a) Walmart was aware that fire safety is an industry-wide challenge in Bangladesh b) 80% of the garment workers in Bangladesh are unskilled women, and most are members of local trade unions c) Bangladesh has a variety of laws to protect factory workers d) Many of the competitive pressures in Bangladesh are encouraged by Western consumers' desires for cheap clothing e) Bangladesh's garment industry is the second largest in the world after India

b) 80% of the garment workers in Bangladesh are unskilled women, and most are members of local trade unions e) Bangladesh's garment industry is the second largest in the world after India

which of the following are the most accurate example of an application of Rawls' principles of justice? a) garment manufacturers employ millions of Bangladesh workers, and their failure to follow fires safety laws only causes harm to a small percentage of the workforce, yet provides economic benefit for many others b) garment manufacturers employ millions of Bangladesh workers and should choose to follow fire safety laws to ensure that the poorest workers are still able to benefit from the economic benefits of the garment industry c) garment manufacturers employ millions of Bangladesh workers and should follow the UN's Universal Declaration for Human Rights focusing only on human respect and dignity for all workers d) garment manufacturers employ millions of Bangladesh workers and their failure to follow fires safety laws creates a fair equality of opportunity for other countries to trade with Bangladesh, which has comparative labor value because the cost of additional fire safety precautions is avoided

b) garment manufacturers employ millions of Bangladesh workers and should choose to follow fire safety laws to ensure that the poorest workers are still able to benefit from the economic benefits of the garment industry

In the John Locke excerpt that we read entitled "Of Property", what is it that allows a person to claim private ownership of a natural resource? a) she found it first, and therefore she owns it b) she added value by her labor, and therefore she owns it c) she had a surplus, so therefore she owns it d) she can trade it for gold or silver, so therfore she owns it

b) she added value by her labor, and therefore she owns it

According to Dan Ariely in his "Truth about Dishonesty" video, in which of the following situations would someone be LESS LIKELY TO CHEAT OR BE DISHONEST? a) on a form that is signed at the bottom b) taking cash from a paper plate in a refrigerator c) after being reminded of moral codes d) taking a can of Coke from a refrigerator e) After the opportunity to "confess" and start over f) on a form that is signed at the top g) when you're not reminded of moral codes h) when you download music online

b) taking cash from a paper plate in a refrigerator c) after being reminded of moral codes e) After the opportunity to "confess" and start over f) on a form that is signed at the top

In the Adam Smith excerpt from the Wealth of Nations, what concept does he describe that promotes public economic interests indirectly by focusing on rational self-interest of individuals? a) the division of labor and specialization b) the "invisible hand" of the marketplace c) the elements of perfectly free competition d) the veil of ignorance

b) the "invisible hand" of the marketplace

in which way are betham's and mill's theories similiar? a) both provide a "balancing approach" allowing for different decisions depending upon the stakeholders affected b) both seek to provide universal rules to govern ethical action in all situations and all times c) both provide a consequentialist approach to ethical decision making, focusing on the greatest happiness for the greatest number d) both affirm the need for basic human rights and the need to treat others with dignity and respect, regardless of wealth

c

which of the following responses to the factory fires in Bangladesh would be considered an example of a "command economy" response? a) bangladesh workers choosing to leave unsafe and low paying factory to jobs for those factories that paid better and had better safety response b) individual retailers separately voluntarily choosing to take on the extra costs of inspecting and certifying those factories that would be "approved" c) aggressive enforcement of Bangladesh existing Factory Rules by government officials and inspectors d) coalitions of retailers banding together to share the costs of factory inspections and choosing to cooperate in the area of fire safety out of respect and care for the workers e) the passage of new laws targeted specifically at improving fire safety and working conditions in the garment industry by the Bangladesh parliament

c and e

In the Adam Smith excerpt that we read, entitled "Wealth of Nations", which of the following are NOT a consequence of division of labor and specialization? a) "universal opulence which extends itself to the lowest ranks of the people..." b) "multiplication of the productions of all the different arts..." c) "thus labor, in the beginning, gave a right of property..." d) "every workman...is enabled to exchange a great quantity of his own goods for a great quantity...or the price of a great quantity"

c) "thus labor, in the beginning, gave a right of property..."

In the Enron case, we discussed reasons why Enron executives might have made the decision to use mark-to-market accounting, including the reason that mark-to-market accounting is followed by many other companies in other industries. After the collapse of Enron, critics have pointed out that mark-to-market accounting wasn't an accurate way to measure the current value of future contracts in the energy industry, which had highly volatile and unpredictable prices, accusing Enron executives of fraudulently reporting excessive profits using mark-to-market accounting in order to keep the stock price high, with no regard for transparency to shareholders. Which statement below most accurately describes the categories of moral development made by each stakeholder as stated in this paragraph? a) Enron executives reasoning supporting the use of mark-to-market accounting demonstrates pre-conventional decision making, and critics describe Enron executives' decision making as conventional b) Enron executives' reasoning supporting the use of mark-to-market accounting demonstrates pre-conventional decision making, and critics describe Enron executives' decision making as post-conventional c) Enron executives' reasoning supporting the use of mark-to-market accounting demonstrates conventional decision making, and critics describe Enron executives' decision making as pre-conventional d) Enron executives' reasoning supporting the use of mark-to-market accounting demonstrates pre-conventional decision making, and critics describe Enron executives' decision making as conventional

c) Enron executives' reasoning supporting the use of mark-to-market accounting demonstrates conventional decision making, and critics describe Enron executives' decision making as pre-conventional

in White's article about Gilligan's ethic of care, the separated self is contrasted with the connected self. Which of the following examples are NOT representative of the "separated self" a) Garment manufacturers competing to offer the lowest prices to retail customers b) Enron's strategy to reward successful energy traders with large bonuses c) H&M's decision to join the Accord on Fire and Building Safety in Bangladesh d) Adam Smith's concept of "rational self-interest" in the market

c) H&M's decision to join the Accord on Fire and Building Safety in Bangladesh

according to kohlberg, which of the following are NOT characteristics of moral development a) stages develop over time, as "structured wholes" or organized systems of thought b) stages are sequential- movement is always forward, never backward, and individuals only very rarely skip stages c) stages are variant- movement may be forward or backward, and individuals may often skip stages d) stages are "hierarchal integrations" so that thinking at a higher stage includes thinking at a lower stage

c) stages are variant- movement may be forward or backward, and individuals may often skip stages

according to bentham, which 1 of the following "hedonistic categories" is used to measure the likelihood or probability that an action would bring pleasure

certainty

which standard of determining the appropriate wage and safety conditions in developing countries is based upon the free choice of informed workers in that developing country?

classical liberal standard

which of the following statements is the most accurate description of the theory of "comparative advantage" as explained by David Ricardo? a) Countries should encourage division of labor and specialization among local companies and encourage them to trade excess production with each other and should avoid trade with other countries b) Countries should encourage local companies to continue to manufacture a wide range of goods, avoiding division of labor and specialization, and should avoid trade with other countries c) Countries should encourage local companies to manufacture a wide range of goods, avoiding division of labor and specialization, but should still encourage trade with other countries of any excess production d) Countries should encourage local companies to specialize in areas of manufacturing in which they're most productive, and to then trade with other countries for the other goods that are needed

d) Countries should encourage local companies to specialize in areas of manufacturing in which they're most productive, and to then trade with other countries for the other goods that are needed

Which of the following concepts is NOT a feature of a perfectly competitive market? a) numerous buyers and sellers b) all can freely enter/leave the market c) full transparency, knowledge of quality, quantity, and price d) goods unique to specific buyers and sellers e) buyers and sellers are utility maximizers f) no external party regulates transactions

d) goods unique to specific buyers and sellers

which moral philosopher would agree with the following statement: "when assessing an ethical dilemma and choosing among alternative actions in a constitutional democracy, one must always protect the fair equality of opportunity for individuals "

john rawls

Modern economic systems contain elements of three economic systems--traditions, commands, and markets. In which economic system are decisions about appropriate wages and working conditions set by the free choices of informed workers?

market based

According to Kohlberg, which of the 3 levels of moral development was demonstrated by Fastow if he decided to take personal profits from the special purpose entities he set up to buy toxic assets from Enron, simply because he wanted to increase his own income, with no regard for the consequences to shareholders and employees?

pre-conventional