MGMT 3880 Final Exam Review

Which of the following is NOT a driver of stakeholder engagement?

Both the company and its stakeholders have the financial resources to support one another.

________ at the time was the most important international treaty on global warming, negotiated in 1992.

Convention on Climate Change

Which of the following is the best definition of industrial ecology in practice?

Designing factories and distribution centers as if they are self-contained ecosystems.

Which of these statements accurately describes a Super PAC?

Does not allow direct contributions to candidates or political parties.

The term "race to the bottom" refers to:

Moving production jobs to the country with the lowest labor cost

The government organization in the US that has responsibility for workplace health and safety regulations and enforcement is...

OSHA

Which of the following statements is not true about the population?

Over the next century, population growth is expected to be greatest in developed nations.

Rapid economic development is often accompanied by:

Rising incomes, bringing higher rates of both consumption and waste.

Natural capital refers to the world's:

Supply of geology, soil, air, water and all living things.

Which of the following statements is NOT true about the interactive social system?

The boundary line between business and society is clear and distinct.

A critical component of installing an effective ethics program is:

The integration of various ethics safeguards into a comprehensive program.

Firms in the chemical industry, whose main focus is having to contend with frequently changing environmental regulations and the risk of dangerous accidents, usually have:

a sophisticated and adaptable political strategy

The type of behavior that runs most contrary to ethical egoism is?

altruism

A free enterprise system refers to:

an index of economic freedom

Positive reputation can be valued as an intangible corporate:

asset

Ethical-decision making is a process that can be improved upon __________________.

at all times

A compliance-based approach to ethical training programs focuses on ____________________________.

avoiding legal sanctions

Government's role is to create and enforce laws that:

balance the relationship between business and society

Which ethical component would a manager seek to engender in an organization if the manager was trying to increase a team focus and an attitude of social responsibility.

benevolance

Managers' understanding of government regulations is:

both a domestic and international issue

When companies develop a reputation for environmental excellence, and they produce and deliver products and services designed to attract environmentally aware customers, this is called

brand differentiation

Which of the following is a reason supporting businesses involvement in the political process?

businesses counterbalance other social interests

When executives leave positions in business to work in government regulatory positions and then move back into the business world this is...

called the revolving door

A common tactic in a financial-incentive political strategy is...

campaign contributions

The other end of the political spectrum from a free enterprise system is a system of

central state control

Marcus recently lost out on a job opportunity at Chancery Pharmaceuticals. He understood it was competitive but was still disappointed to hear the news. A week later a friend of his who worked at the company showed him an email the hiring manager had sent where the manager stated he didn't trust Muslims to work with explosive chemicals. Marcus is an Arab American who practices the Islamic faith. What is the government law/order that gives Marcus the right to sue the company for discriminatory hiring practices?

civil rights act

Which of these actions can businesses take to reduce income inequality?

commit to paying a living wage to all employees

A ________ refers to a shared resource such as land, air, or water, that is collectively used.

commons

The proprietor of Michelangelo's Party-Dude Pizzaria routinely collects information about his competitors prices, discounts, and sale and adjust his marketing strategy accordingly. By doing this the business owner is engaging in what practice discussed by Albrecht?

competitive intelligence

In your text, researchers found which of the following attempts at an ethical safeguard created a willingness in employees to seek ethical advice?

compliance based training

Ethics is a branch of philosophy that deals with right and wrong...

conduct

Rajit's boss gave him a project to complete before the end of the week. However, Rajit has decided to delegate this assignment to his new employee, Maggie, specifically because he has tickets to an NBA game on Thursday night. They were a gift from a potential supplier and he was planning on taking off early to meet up with the supplier for the game. Rajit's action is unethical because of what?

conflict of interest

A company that builds stakeholder coalitions to influence government is using which strategy:

constituency-building

A retail super store built a location adjacent to a small neighborhood where a large field had previously been. The construction caused all of the small wildlife living in the field to flee into the neighborhood, creating many problems for the residents. This is properly referred to as...

cost/benefit

Arising from shared values and meanings, it is understood as generally the way we do things around here...

culture

Political contributions made to a tax-exempt organization, which are not required to report the donor's name and size of contribution, are called what?

dark money

Dynesty Donut Shop wants to acquire customer environmental intelligence to assess its proposed new product, a sausage-filled maple bar called: The Flatliner. What kind of information are they looking for?

demographic factors such as gender, age, and socio-economic in their area

A corporate political strategy does not:

determine the legal limits allowed for campaign financing

Which of the following is an argument in favor of corporate social responsibility?

discourages government regulation

Variation in the important human characteristics that distinguish people from one another is called:

diversity

The external environment of business (government, society, environment, etc.) is always ______.

dynamic

Lobbyists, under U.S. law, must disclose their:

earnings & expenses

When a government orders companies not to conduct business in another country because of a war, human rights violations, or lack of a legitimate government; these orders are called:

economic sanctions

Public policy ________ are the outcomes arising from government regulation.

effects

Integrity-based ethical training programs shift responsibility toward _________________ for ethical action.

employees

Which of the following is NOT a market-based mechanism used to reduce pollution?

environmental standards

What organization is responsible for the enforcement of rules and regulations aimed at preventing discrimination and protecting people's diversity?

equal employment opportunity commission

Adapting the job to the worker, rather than the worker to the job is called...

ergonomics

The unspoken norms around what is and is not acceptable to do form the ________________ of an organization.

ethical climate

The unspoken understanding among employees of what is and is not acceptable behavior is called:

ethical climate

Having which of the following safeguards in place shows that an organization that values ethical behavior?

ethics training programs ethics reporting mechanisms ethics codes/policies (all of them)

what are options that were ethical safeguards listed in chapter 6

ethics training programs, ethical codes/policies, ethical compliance officer, ethics reporting mechanisms

The idea that companies have a continuing responsibility for the impact of their product or service (for the duration of its existence) is called what?

extended product responsibility

According to the lecture in class last week, so long as all parties in a process have an equal opportunity to participate the system is balanced and fair.

false

As a person's capacity for moral reasoning matures, their focus moves toward the self and prioritizes personal interests.

false

Business ethics is a special set of ethical ideas that differs from general ethical principles and is applicable only to business.

false

Environmental regulations, such as energy conservation, depress the economy.

false

If an action is legal, it is by default ethical for businesses to engage in.

false

Lobbying is a form of financial-incentives strategy for businesses.

false

Net-zero-deforestation refers to when a company produces removes as much carbon from the atmosphere as they produce during regular business operations.

false

Public policy goals are external pressures that shape a government's policy decisions and strategies to address problems.

false

Public policy is a plan of action undertaken by business to influence the government.

false

Public policy tools are aspirations that can be broad and high minded or narrow and self serving

false

Sexual harassment is limited to overt acts of individual coworkers or supervisors.

false

The paradox of the commons is that if all individuals attempt to maximize their own private advantage in the short term, the commons will still remain productive in the long run.

false

The performance-expectation gap refers to companies under-performing on quarterly financial reports

false

The principle question of ethics is, "Why do people do what they do?"

false

The race to the bottom refers to the practice of decreasing the quality of products as economic growth declines toward bankruptcy.

false

The reason that regulations, such as affirmative action, haven't fixed the problems they seek to address is because regulations haven't been implemented correctly.

false

The term pay gap refers to the inequitable concentration of a group, such as minorities or women, in a particular job category.

false

There is little to nothing a business can do regarding diversity and inclusion in workplace environments because it is a larger societal problem.

false

When managers become personally involved in developing public policy, the firm is at a limited level of organizational involvement in the political process.

false

Which of these components are not considered during a risk assessment audit to gauge the effectiveness of a firm's ethics programs?

financial bottom line

The ____________ refers to an invisible, intangible, barrier that bars people in certain demographics from upward mobility in organizations.

glass ceiling

WalMart is regularly accused of being bad for small communities by driving small businesses, who are often the heartbeat of a community, out of business. To improve its reputation, WalMart will sometimes donate school supplies to a local non-profit organization in the community. This is an example of what element of stakeholder engagement for the WalMart?

goal

public policy sets the ____, _____, and _____ that each national government follows in achieving its purpose

goals, plans, and actions

Which of the following bases for ethical reasoning captures the early adulthood demographic (i.e. traditional college students)?

group centered reasoning

The primary concern of business ethics has to do with ________ & _________ that actions bring to people.

harm/benefit

The first stage in the issue management process is ______

identify the issue

The iron law of responsibility says that...

in the long run, organizations that do not use their power responsibly will lose it

Being able to request a summary of Facebook's data on you is an example of what type of stakeholder power?

informational

Governments being asked to regulate driving distractions is an example of what element of a public policy?

inputs

The nature of a business' relationship with stakeholders often evolves through a series of stages. In which of the following stages does the organization try to anticipate stakeholder concerns?

interactive stage

The process for closing the performance-expectation gap is known as what?

issue management

Antone had to make a choice between firing two of his twelve employees or giving everyone a cut in their pay. Atone chose to cut the pay of all twelve employees by 10% to maintain his current workforce. This is indicative that Antone is using what type of ethical reasoning?

justice

Which framework of ethical reasoning is most greatly concerned with the equitable distribution of benefits?

justice

Which of the following is not a sector of the three-sector world?

legal

A right is an entitlement someone has to be treated a certain way. In other words, what are the different types of rights?

legal ethical contractual social

China's commitment to triple its patent filings from 1 million to 3 million is an example of which strategic radar screen?

legal environment

A company that is collecting information on the lifelong environmental impact of a product is conducting what?

life cycle assessment

Involves collecting information about the lifelong environmental impact of a product.

life-cycle assessment

A wage that enables workers, paid for a standard work week, to support half of the basic needs of an average-sized family based on local prices near the workplace.

living wage

The information strategy tool most used by business is:

lobbying

How much importance a stakeholder, or a stakeholder issue, has to a company is called stakeholder __________

materiality

In what stage of moral development does ethical reasoning focus on principle-centered reasoning?

mature adulthood

Social responsibility requires organizations to...

meet critical social responsibilities by balancing the benefits to be gained against the costs of achieving those benefits.

Laws are society's formal written rules; ethics are ________________

more complex

New improved mining equipment that was found to increase cases of black lung disease because it generated higher levels of dust in the mines is an example of _________________.

negative externalities

Corporate culture provides ___________ expectations to employees.

normative

What term refers to the grouping of certain demographics of people in to particular job categories?

occupational segregation

The imperative for sustainable development represents what to global businesses?

opportunity to gain competitive advantage

Which of the following is NOT a reason that ethical problems occur in business.

personal integrity

Which of the following is NOT considered natural capital?

pesos

Which of the following is not an example of an ethical criterion in an organizational environment?

policy

An analysis of the stability or instability of a government is an example of scanning the

political environment

Which stage of sustainability management focuses on the reduction or elimination of waste?

pollution prevention

Two critical factors have combined to accelerate the ecological crisis facing the world economy, making sustainable development more difficult. They are....

population growth, rapidity of industrialization

Stakeholder saliency, the degree to which a stakeholder stands out from others, includes which three characteristics?

power, legitimacy, urgency

Environmental justice refers to efforts to

prevent inequitable exposure to risk, such as from hazardous waste.

Organizations arise out of the ___________ of social interaction.

process

A core idea regarding sustainable development is that

protecting the environment requires economic development.

______ is any issue of mutual concern to an organization and one or more of its stakeholders

public issue

When a firm only acts when forced to do so by stakeholders, it is in which of the following stages of engagement?

reactive stage

The arguments AGAINST corporations assuming corporate social responsibility include...

requires social skills business may lack

Which of the following is not listed in your text as a right of the employee in the workplace?

right to equal employment opportunity right to organize and bargain right to blow the whistle All of these are rights of the employees

To develop a stakeholder map, managers would first look to the __________ of stakeholders?

saliency

Which of the following is not listed as a protected category in an employment-at-will relationships?

sexual orientation

Which of the following is not a political strategy used by corporations?

sharholder-leveraging

The two types of public policies are ___________ & ____________.

social and economic

In moral development, early adulthood and late adolescence is marked by what basis of ethical reasoning?

social and group centered reasoning

Understanding and responding to changing ___________ is a business necessity required for managing the performance-expectation gap.

societal expectations

Around the world, government:

sometimes cooperates and sometimes is in conflict with business

The right to be forgotten is now a common law right in the European Union because of a case between Google and a citizen of what country?

spain

For almost half a century scholars have found a positive relationship between an organization's economic performance and its attention to what?

spiritual values

What practice prioritizes stakeholders based on their impact on a company's strategic objectives?

stakeholder materiality

Which best describes the participation of American workers in labor unions since the mid-1950s:

steadily declined

A company that has developed a way to monitor issues outside of its immediate view or scope, for the purpose of getting in front of the issue, is using what method?

strategic radar screens

Which of the following is not a benefit of globalization?

strengthens environmental and labor standards

This term refers to development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

sustainable development

Environmentally proactive companies that seek imaginative new methods for reducing pollution and increasing efficiency are gaining a competitive advantage though

technological innovation

Over one-third of the heads of public affairs departments in corporations report to _____________.

the CEO directly

Which argument says that the stakeholder view of stakeholder management is simply a more realistic description of how companies really work?

the descriptive argument

The emergence of a public issue indicates that

there is a performance gap between what the firm wants or is doing and what stakeholders expect

Cooperation between business and government often occurs when:

they encounter a common problem or enemy

A disadvantage of the alternative policy approach of cap-and-trade systems is

they give business a license to pollute

A cooperative government-business relationship on one issue does not guarantee cooperation on another issue.

true

A corporate political strategy involves the activities taken by organizations to acquire, develop, and use power to obtain and advantage.

true

An ecologically sustainable organization (ESO) operates in a way that is consistent with a sustainable development principle.

true

Being able to continue their activities indefinitely, without altering the carrying capacity of the earth's ecosystem, is a characteristic of ecologically sustainable organizations.

true

Biodiversity refers to the number and variety of species and the range of their genetic makeup; this is a key component of ecological health that businesses have a big impact on.

true

Boundary spanning departments are one example of how a business can build bridges with outside groups or organizations.

true

By capitulating to consumer's food consumption patterns and advocating for cell-based meat growth, Bruce Friedrich is supporting a cowboy economic model.

true

By setting a common standard for all firms, government can take the cost of pollution control out of competition.

true

Civil society is comprised of nonprofit, educational, religious, community, family, and interest-groups that do not have a commercial or government purpose.

true

Compliance-based ethics programs were shown by research to increase an employees willingness to seek ethical advice.

true

Data from 2018 reveals that around half of all managers in the US workforce are women.

true

Fiscal policy refers to government collecting and spending funds to stimulate or support the economy, whereas monetary policies are those that affect the supply, demand, and value of a nation's currency.

true

Globalization refers to the increasing movement of goods, services, capital, and labor across international borders.

true

In a survey of the US American people, the most serious ethical offense was found to be the violation of trust between a company and its consumers.

true

In most democratic nations workers are allowed the right to form unions and engage in collective bargaining.

true

In the US, income inequality has been dramatically rising since around 1980.

true

Managers, as major decision-makers, are one of the keys to whether a company will act ethically or unethically.

true

Morals relate to the values we have, whereas ethics relates to our conduct.

true

New CEO's tend to be more self-interested and short-sighted by focusing only on the near future.

true

Personal values and moral character play key roles in improving a company's ethical performance.

true

Plants and animals living as a natural unified system are called an ecosystem.

true

Predatory pricing is a violation of antitrust laws.

true

Providing training to employees is typically the most costly element of an ethics program.

true

Regarding stakeholder engagement, proactive companies try to anticipate stakeholder's concerns

true

Sex-typification of jobs refers to concentration of a group, such as women, in a particular job like nursing, school teaching, etc.

true

Some argue that business is too powerful to participate in politics, like an elephant dancing among chickens.

true

Some women and persons of color have spoken out against affirmative action, preferring to achieve personal success without receiving preferential treatment.

true

The ability of the planet to support a finite amount of life based on available resources is known as the carrying capacity of the earth.

true

The employment relationship confers rights and duties on both sides.

true

The narrow economic model of CSR directs managers to maximize profit and shareholder wealth within legal limits.

true

Under the World Trade Organization's most favored nation rule, member countries may not discriminate against foreign products for any reason.

true

When the company that originally polluted a Superfund site can be identified, it is required to pay for the cleanup.

true

While almost always well-intentioned, regulations are an imperfect solution to a flawed system.

true

Workforce diversity represents both a challenge and an opportunity for businesses.

true

Stakeholder theory of the firm argues that its success depends upon maintaining the _____ of its essential stakeholders.

trust

In Guangzhou, China, when a man stood on a bridge threatening suicide, what type of reasoning was used by the man who pushed him off?

utalitarianism

When considering the consequences of an action to be the determining factor of its ethical worth, you are employing what type of ethical reasoning?

utilitarianism

Which framework of ethical reasoning is most greatly concerned with the consequences of the action when determining the ethical value of an action?

utilitarianism

A business that places an expectation on its leader to make decisions that align with their character and the values of the organization is best described by which ethical tradition?

virtue

Four types of stakeholders' power recognized by most experts are:

voting, economic, political and legal power

Which of the following is not a cause contributing to climate change?

wildfires beef production burning fossil fuels deforestation ALL OF THEM