Ch 3: The Manager's Changing Work Environmental & Ethical Responsibility

The purpose of a code of ethics is to:

clearly state top management's expectations for all employees

Vondra believes that if her company created a problem for the local farm community by rationing water supplies, then her company needs to give those farmers grant money so they can get back on their feet. Vondra is advocating _____ corporate social responsibility.

for

Corporate _______ is the system of company oversight designed to ensure that the interests of owners and other stakeholders are protected.

governance

As the CEO of a pharmaceutical company, Simone learned that the government was about to block the import of one of the company's biggest-selling drugs. She decides to sell her shares of stock before the information is made public. Since she used confidential information to make her decision, she is guilty of _____.

insider trading

People who buy or sell stock illegally based on confidential company information are engaging in _____.

insider trading

The act of contributing money in order to benefit society is referred to as _______.

philanthropy

A manager's responsibility to take actions that benefit both society and the business is known as _____ responsibility.

social

The ______ approach to solving ethical dilemmas involves ethical behavior being guided by what will result in the greatest good for the greatest number of people.

utilitarian

What are four of the groups that make up part of the task environment?

Government regulators Strategic allies Local communities Distributors

What are four of the groups that make up part of the task environment? A) Owners B) Strategic allies C) Board of directors D) Government regulators E) Local communities F) Distributors

B) Strategic allies D) Government regulators E) Local communities F) Distributors

Place the following obligations of a corporation (as identified by Carroll) in order, starting with the highest-level responsibility at the top of the list and placing the most fundamental obligation at the bottom of the list:

Being a good global corporate citizen Being ethical in practices Obeying the law Making a profit

A company's triple bottom line represents which three aspects? A) privacy B) politics C) production D) people E) profit F) planet

D, E, F

True or false: Unlike generations before them, Millennials have little concern for the environment and are more interested in profit over planet.

False

Which of these employees is involved in an ethical dilemma?

Jonah is deciding if he should add two hours to his time sheet for travel to a client meeting because his company does not reimburse for travel time.

Which generation seems more concerned with finding work/life balance than other generations?

Millennials

Which broad term identifies anyone impacted by a business, including but not limited to stockholders, employees, and customers?

Stakeholders

Which of these are forces within an organization's general environment? (select all that apply):

Technological Sociocultural Economic International Demographic Political-Legal

Major changes in temperature, precipitation, wind patterns, and similar matters occurring over several decades is known as _______.

climate change

A formal set of standards guiding an organization's actions is called a _____.

code of ethics

An organization's internal stakeholders consist of:

employees, owners, and the board of directors.

A(n) _____ dilemma is a situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal.

ethical

An organization's standards of right and wrong that influence employee behavior are referred to as _______.

ethics

Purchasing _____ items increases the chances that your money will help provide a decent wage for the people who made them.

fair trade

The people inside of an organization who have an important stake in how it performs are the organization's _____ stakeholders.

internal

According to Archie B. Carroll, the responsibilities of an organization can be arranged as a pyramid, with _____ at the base and _____ at the top.

making a profit; corporate citizenship

Target donates millions of dollars each year in education-related grants for arts and cultural experiences, field trips, and reading programs, as well as grants to promote public safety. This is an example of _______.

philanthropy

A company's decision to move its operations out of the country will affect its employees, owners, suppliers, distributors, and everyone else who has an interest in the business. All of these groups together make up the company's _____.

stakeholders

The ten groups that present a company with its daily tasks to handle represent the company's ___ environment.

task

The ten groups that present a company with its daily tasks to handle represent the company's _____ environment.

task

According to Fordham professor Hurley, there is not a crisis of ethics in business today but a crisis of _____.

trust

A company's external environment consists of which two environments? A) internal B) service C) task D) general

C, D