MGMT 320 Midterm Practice

Who wrote the "Invisible Hand" about collective good society

Adam Smith

A society that has its economic, political, and cultural values based on agriculture is called:

Agrarian

Core compoenets upon which a company ethical performance depends include:

All above

Effect public affairs function must

All of the above

The reason behind the unceartanity of an ethical questions are that different people and groups

All of the above

Which of the following would be a valid criterion for making ethical decisions?

All of the above

Stakeholder is defined as

An entity that is either burdened or benefited by the actions of the organization

When a group of consumers places pressure on a company to make efforts to reform its policies by refusing to buy this company's products, this is called:

Boycott

Early issues identification enables a company to do which if the following:

Build political capital before it is needed

Examples of illegal business include:

CEO telling someone to invest day before high numbers released

An economy with private indv. and corporations own the methods of production and compete in a free market is:

Capitalism

Stakeholders have been bale to form international coalitiions more successfully through the use of

Communications technology

The idea that a retail shop owner should pay damages to a customer who was hurt inside the store is consistent with which ethical principle?

Compensatory Justice

What led companies to create spealized staff to manage external affairs?

Complex relationships between organization and their stakeholders

Customer environmental intelligence includes:

Demographic factors

Which argument calls stakeholder management a practical matter which realistically depicts how companies really work?

Descriptive Argument

Cross-cultural contradicitons arise due to

Differences between home and host countrie's ethical standards

The ideas that pay raises should be based on objective performance criteria instead of the "buddy" system, is a fundamental principle in which ethical principle?

Distributive Justice

(T/F): A public issue exists when there is a agreement between stakeholder's expectations of what an institution should do and the actual performance

False

(T/F): Businesses and society are independent of each other

False

(T/F): Ethics are always based on religious beliefs

False

(T/F): Kohlberg's 6 Stages of morality and ethical judgment are the best approach to figure out ethical and unethical decisions:

False

(T/F): Only the CEO's spiritual perspective should be taken into account

False

(T/F): Respecting others, except those with whom we disagree with is the essence of ethical rights reasoning:

False

(T/F): Socialism accepts only the basic values of capitalism

False

(T/F): The US constitution discourages pluralism

False

(T/F): The idea of a classesles society in which property is owned collectively by the people is a basic tenant of democracy

False

(T/F): Trade Liberalization occurs when nations promote trade by easing tariff restrictions but not non-tariff restrictions

False

(T/F)The vast majority of the poor people on earth live in economies that have been transformed by industrial growth

False

The idea that sole responsibility of a business is to maximize profits while acting within the law is afundamental tenet in:

Friedmanism

The study of phenomenon that move through time is called:

History

A stakeholder analysis:

Involves understanding the nature of stakeholder's interests.

The components of a typical issue management cycle include

Issue Identification, research, policy options, selection stratedgy, program decision, implentation

The rightful use of business power is called

Legitimacy

What stakeholder groups can exercise legal power?

Lots: Employees, Customers, and Shareholders

When a manager makes ethical deicisons based on what he feels he can get away with given his level of power, he is using which ethical principle?

Mights-equals-right ethic

When a society is ruled by people who are wealthy it is called:

Plutocracy

The ability of business to influence government is called:

Political Power

People everywhere depend on ethical systems to tell them whether their actions are:

Right or Wrong

According to Kohlberg's which is moral reasoning found in children?

Scratch my back and I'll scratch yours

A giant step is take toward improving ethical performance throughout the company when:

Senior-level managers signal to employees that they believe ethics is of high priority

The fiduciary duty of managers is to benefits a firm's:

Stockholders, Customers, Employees

Do unto others as you would done unto you is the basic premise in which ethical principle?

The Golden Rule

In considering whether or not to do a certain action based on ethical reasoning, when the manager asks herself, "If I act in this way, would my family approve of my actions?" she is applying which principle?

The Others test

(T/F): A social contract between business and society gives this relationship a moral basi for the operation

True

(T/F): All societies have mechanisms to control power

True

(T/F): BSG is the study of business, government, and society and its importance to managers

True

(T/F): Business managers should use all three methods of ethical reasoning: utility, rights, and justice to better understand ethical work

True

(T/F): Changes in the business environment can sometimes result from unknown and unpredictable causes

True

(T/F): Economic activity is a geophysical force in the society

True

(T/F): Ethical Ideas are present in all societies, organizations, and poeple

True

(T/F): Human rights issues have become more prominent and important for businesses

True

(T/F): Increases in business mergers are cuases by changes in the economic environment of the society that creates incentives to combine businesses

True

(T/F): On a deep level, corporate power creates many indirect effects on the society in which it operates

True

(T/F): Stakeholders involved with one part of a company often may have little or no involvement in another part of the company

True

(T/F): The Sarbanes-Oxley act requires a firm to maintain high ethical standards in how they conduct and monitor business operations

True

(T/F): The doctrine of the mean in ethics is a fundamental teaching of Aristotle.

True

(T/F): The force behind a company's actions is called its power

True

(T/F): The modern nation-state aros eout of the ruin of the Roman Empire

True

(T/F):The general public generally believe that a business has social responsibilities beyond merely making a profit

True

The public affairs managers would be in:

Upper level management, senior mangement

Applying method of ethical reasoning to a situation might

lead to an incomplete understanding of the matter

Entities that have a relationship with a corporation in such a way that they are affected immediately and powerfully by the actions of the corportation are called the:

primary stakeholders

The idea that hard work and acting in a virtuous manner will results in approval from God is called

the Protestant Ethic

The purpose of the US foreign Corrupt Practices act is:

to prevent bribery and other legally questionable payments

An enduring belief about what important choices in how we live are :"correct" is called a(n):

value