Chap 2 Quiz
T or F: Ethical decision making begins in the marketing department.
False
T or F: To be a useful code of ethics, the code should offer broad policies and procedures rather than detailed rules.
False
_____ are all the individuals or groups to whom a business has a responsibility. 1. Stockholders 2. Consumers 3. Investors 4. Lobbying bodies 5. Stakeholders
Stakeholders
T or F: Amgen, the largest biotechnology company in the world, donates millions of dollars annuallyto raise the value of science literacy in the community and attract bright young minds into the field of science. Since Amgen, as an employer would benefit from this philanthropy, it would be characterized as strategic giving.
True
T or F: An organization's first responsibility is to provide a job to employees.
True
T or F: The distributive process by which the burdens and rewards that society has to offer are shared varies from society to society.
True
A _____ provides employees with the knowledge of what their firm expects in terms of their responsibilities and behaviors toward their fellow employees, customers, and suppliers.
code of ethics
The lowest level on the pyramid of social responsibility has to do with a business's _____ responsibilities.
economic
_____ is a set of moral standards for judging whether something is right or wrong.
ethics
Many weight-loss programs advertise that they can help individuals lose a great deal of weight without any changes in the individual's lifestyle. Typically when the person who has lost the weight leaves the program, he or she regains all the lost weight. This yo-yoing is almost as bad for the body as the excess weight. These weight-loss programs are engaged in _____ behavior. 1. legal but irresponsible 2. illegal but responsible 3. legal and responsible 4. legal and irresponsible
legal but irresponsible
The highest level of the corporate social responsibility pyramid is: 1. legal responsibilities 2. ethical responsibilities 3. responsibilities to stakeholders 4. economic responsibilities 5. philanthropic responsibilities
philanthropic responsibilities
Wal-Mart has announced that it will only sell fresh and frozen fish that come from environmentally sound sources and bear the label of the Marine Stewardship Council. Wal-Mart's size gives it a unique opportunity to improve the fishing industry. This concern for _____ is one of many initiatives Walmart is introducing to improve our environment. 1. consumerism 2. macroeconomics 3. organizational culture issues 4. stakeholder satisfaction 5. social responsibility
social responsibility
The Home Depot supplies all the materials and the labor expertise for Habitat Homes in various regions of the country where the retail giant has a store. Its top management believes that this type of philanthropy better reflects the company's commitment to the community than simple donations to the American Cancer Society and similar national charities. The Home Depot is using the practice of: 1. strategic paternalism 2. strategic giving 3. consumer-based donating 4. social philanthropy 5. social investing
strategic giving
The philosophy of _____ can be used to explain the idea that "people should act so as to greatest good for the greatest number of people."
ulitiarianism
IN YOUR OWN WORDS... Using at least 50 words, identify and explain what ethics are?
Ethics is a set of moral standards for judging whether something is right or wrong
IN YOUR OWN WORDS... Using at least 50 words, briefly describe the relationship between ethics and justice.
Ethics is a set of moral standards for judging whether something is right or wrong. Justice is what is considered fair according to the prevailing standards of society.
In an act of _____, Amgen, the largest biotechnology company in the world, has donated more than $70 million to advance science education, improve quality of care and access for patients, and support resources that create sound communities where Amgen staff members live and work.
corporate philanthropy
