Chapter 7, Chapter 8, Chapter 9, Chapter 10

Which of the following groups would be the archetypal example of consumer vulnerability?

Children

____________ ___________ occurs when a person has an impaired ability to make an informed consent to the market exchange.

Consumer vulnerability

True or false: Scholar Eugene White believes that markets are effective in resolving conflicts of interest in the financial world.

False

_____________ involves the ability to foresee the consequences of one's acts and falling to take steps to avoid the likely harmful consequences.

Negligence

________ incentivizes redesigning products in ways that make them easier to reuse and recycle.

Take-back legislation

Which of the following is true of values that are determined within moral free space?

They are not hypernorms.

True or false: Insider trading is considered patently unethical because it prevents fair pricing based on equal access to public information.

True

At present, ________ cannot be a condition of employment in at least 29 states in the United States and the District of Columbia.

abstention from smoking

Besides product safety, ___________ is a marketing domain that has received significant legal and philosophical attention within business ethics.

advertising

Which of the following are true of the Sarbanes- Oxley Act of 2002?

1. It applies to more than 15,000 public corporations in the United States and some foreign issuers. 2. It was enacted very shortly after and directly in response to the Enron scandals of 2001.

Defenders of the market-based approach to resolving environmental challenges contend that......

environmental issues are economic issues that deserve economic solutions.

Identify the general principles that will guide firms in their move toward sustainability.

1. Firms and industries should model their whole production processes on biological processes. 2. Firms and industries must use natural resources more efficiently.

According to ethicists Thomas Donaldson and Thomas Dunfee, which of the following are examples or hypernorms?

1. Freedom of speech. 2. The right to physical movement. 3. The right to personal freedom.

Identify the possible and appropriate means for meeting business's environmental responsibilities.

1. Government regulation 2. Efficient markets.

The caveat emptor perspective assumes that.....

every purchase includes the informed consent of the buyer.

In which of the following cases may lifestyle discrimination by employers be unlawful?

1. If a rule has a different effect on a protected group than on other groups. 2. If the imposition of a rule treats one protected group differently when compared to another group.

Some people contend that some animals have the cognitive capacity to possess a conscious life of their own. Identify the true statements about this view.

1. It is reminiscent of the Kantian ethical tradition. 2. It asserts one's duty to not treat animals as means to one's ends.

Cradle-to-cradle responsibility would create incentives for businesses to_______________.

redesign products so that they could be recycled efficiently and easily.

Some people argue that many animals, presumably all animals with a central nervous system, are capable of feeling pain. Identify the true statements about this view.

1. It is reminiscent of the utilitarian ethical tradition. 2. It asserts an ethical responsibility to minimize pain.

In the context of the point of governance, identify the reasons why excessive compensation may cause corporate boards to be unable to fulfill their fiduciary duties.

1. In many cases, there is no correlation between executive compensation and performance. 2. There is little evidence that excessive executive compensation is actually needed as an incentive for performance.

Identify the responses to market failures given by supporters of the market-based approach to resolving environmental challenges.

1. Internalizing external costs 2. Assigning property rights to unowned goods.

Arrange the events associated with establishing standards of privacy protection for U.S.-based companies in the order in which they occurred.

1. A Safe Harbor exception was negotiated for firms that maintained a certain level of protection of information. 2. The Court of Justice of the European Union rendered the Safe Harbor exception invalid. 3. EU and U.S. officials reached a tentative agreement called the Data Privacy Accord.

What are the implications of the dependence effect?

1. Advertising and marketing violate consumer autonomy by creating consumer wants. 2. Creating wants reverses the law of supply and demand. 3. Advertising and marketing tend to create irrational and trivial consumer wants, which distorts the whole economy.

Identify the enhanced surveillance procedures provided for by Title II of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act that have a significant effect on individual privacy and may impact an employer's effort to maintain employee privacy.

1. Allowing nationwide seizure of voice-mail messages in accordance with warrants. 2. Expanding authority to interpret wire, oral, and electronic communications that are related to terrorism, computer fraud, and abuse offenses. 3. Broadening the type of records that the law may obtain from electronic communications service providers pursuant to a subpeona.

Identify the major claims of those who defend the strict product liability standard.

1. Business has a strong incentive to produce safer goods and services when it is held strictly liable for any harm its product cause. 2. Holding business accountable for injuries allocates the costs to the party that is best able to bear the financial burden.

Identify the ways in which privacy can be legally protected.

1. By federals and/or state statutes. 2. By the constitution. 3. By the common law.

According to the National Council on Alcoholism and Drug Dependence, which of the following behaviors can be warning signs of drug use?

1. Complaints about problems at home. 2. Frequent financial troubles. 3. Deterioration in personal hygiene or personal appearance. 4. Avoidance of friends and colleagues.

In the context of financial markets, identify the causes for conflicts that were recognized by scholar Kevin Bahr.

1. Conflicts between the services offered by public accounting firms. 2. Compensation schemes for security analysts.

In the context of legal duties imposed on board members by U.S. law, which of the following are required by the duty of loyalty?

1. Conflicts of interest should always be resolved in favor of the corporation. 2. Board members may never use information obtained through their positions as board members for personal gain.

Which of the following are examples of consumer demands in a service-based economy?

1. Demand for laundry 2. Demand for plumbing

Identify the true statements about the European Union 8th Directive.

1. It provides for cooperation with regulators outside the European Union regulatory infrastructure. 2. It mandates external quality assurance through audit committee requirements and increased auditing transparency.

Why is a market exchange prima facie ethically legitimate?

1. It provides mutual benefits to the parties involved. 2. It respects individuals' autonomy.

What are the features of the sustainable model of the economy?

1. It recognizes that each stage of economic activity produces wastes that are dumped back into the biosphere. 2. It recognizes that the economy exists within a finite biosphere that encompasses a band around the earth that is just over a few miles wide.

Identify the features of the Committee of Sponsoring Organizations (COSO).

1. It was established originally to study fraudulent financial reporting and later to develop standards for publicly held companies. 2. It has become one of the most broadly accepted audit systems for internal controls.

Identify the true statements about Enron Corporation.

1. It was found to have been involved in one of the largest cases of accounting fraud in world history. 2. It filed the largest bankruptcy in United States history in 2001.

Which of the following led to a series of lawsuits against Google on the issue of privacy?

1. Its failure to fully understand and plan for its stakeholders' perceptions of its programs. 2. Its failure to consider the fundamental values implied by its decisions.

Identify the behaviors that may serve as warning signs of drug use according to the National Council on Alcoholism and Drug Dependence.

1. Lack of focus and poor concentration. 2. Decreased productivity or erratic work patterns. 3. Lack of consistency in work quality.

Which of the following aspects of contemporary environmental realities emphasize the importance of humans' self-interested reasoning for protecting the natural environment?

1. Life-supporting systems require a delicate environmental balance for their maintenance. 2. Contemporary environmental issues can potentially harm the entire globe and change human life forever.

Which of the following are true of manipulation?

1. Manipulation does not necessarily involve total control. 2. Manipulation does not necessarily involve deception.

Identify the important elements of product placement that attempt to determine which audience is most likely to buy, and which audience is mostly likely to be influenced by product promotion.

1. Marketing research. 2. Target marketing.

Identify the parameters that a workplace monitoring program should ideally follow.

1. Monitoring should be restricted to the workplace. 2. Monitoring should only result in gaining some business interest. 3. There should be no monitoring in private areas.

According to Professor Patrick Murphy, which of the following will be highlighted by new sustainability options in marketing channels such as transportation, distribution, and inventory?

1. More localized and efficient distribution channels. 2. Increased reliance on electronic rather than physical distribution. 3. Better fuel efficiency and alternative fuel technologies.

In the context of marketing ethics, what are the arguments put forth by defenders of advertising?

1. Most advertisements provide information to consumers that leads to an efficient function of economic markets. 2. Advertising contributes significantly to the economy.

On which of the following may insider trading be based?

1. On a claim of unethical misappropriation of proprietary knowledge. 2. On the provision of "tips" to family members, friends, or other corporate insiders.

Arrange the steps involved in the marketing of a product in the order in which they typically occur.

1. Producers consider who might want to purchase the product or who might be persuaded to purchase the product. 2. The product might be modified based on what is learned about potential buyers from market research. 3. Producers decide on a price for the product that will be mutually acceptable.

Identify the necessary elements suggested by economist Antonio Argandona in imposing moral requirements on the information on which new technology depends.

1. Respect for privacy. 2 Accountability. 3. Truthfulness and accuracy. 4. Respect for property and safety rights.

Identify the types of rules for which most statutes or common-law decisions provide for employer defenses.

1. Rules that are needed to avoid conflict of interest or the appearance of conflict of interest. 2. Rules that constitute a "bona fide occupational requirement". 3. Rules that are reasonably and rationally related to an employee's employment activities.

Identify the conditions from which most of the ethical rationale for business's responsibility for its suppliers' actions originates.

1. Suppliers often act according to the direction of business. 2. Business often exercises significant influence over its suppliers' actions.

Identify the true statements about the access to information provided by technology?

1. Technology allows for access to information that was not possible before. 2. Total accessibility leads to new expectations and thus conflicts.

Identify the true statements about the impact of new technology on the issue of privacy.

1. The advent of new technology challenges privacy in new ways. 2. Technology allows for in-home offices, and this raises issues of safety and privacy concerns.

Identify the problems that suggest that the regulatory approach to environmental concerns will be inadequate over the long term.

1. The approach underestimates business's ability to influence consumer choice. 2. The approach underestimates the influence that business can exert in establishing the law.

In the context of the legal duties imposed on board members by U.S. law, which of the following are true of the guidelines specified by the legal duty of care?

1. The director is expected to be disinterested and reasonably informed and to rationally believe the decisions made are in the company's best interest. 2. Board members are directed to use their "business judgement as prudent caretakers".

Which of the following causes for conflicts did scholar Kevin Bahr identify in Financial Markets?

1. The financial relationships between public accounting firms and the clients they audit. 2. Executive compensation schemes.

According to philosopher William Parent, which of the following points should employers keep in mind while determining whether monitoring actions are justifiable or can be an invasion of privacy or liberty?

1. The legitimacy and importance of the purpose of seeking the undocumented personal knowledge. 2. The protection of the personal knowledge following its obtainment. 3. The purpose of seeking the undocumented personal knowledge.

Identify the assumptions that valid market exchanges make about the participants.

1. The participants are free to decide. 2. The participants understand what they are doing. 3. The participants have considered their choice.

Identify the conditions that determine whether someone is being treated respectfully during a market transaction.

1. The person must freely consent to the transaction. 2. The person's consent to a transaction should be informed.

Identify the market failures that highlight the inadequacy of the market-based approach to resolving environmental challenges.

1. The presence of externalities. 2. The lack of markets for creating a price for important social goods. 3. The difference in the impact of individual decisions and group consequences.

What are the drawbacks associated with the regulatory approach to environmental concerns?

1. The regulatory model assumes that economic growth is environmentally and ethically benign. 2. Relying on the law to protect the environment means that environmental protection will extend only as far as the law extends.

What are the concerns that should be kept in mind while approaching any ethical issue in a market transaction?

1. The values that might be at stake in the transaction. 2. The degree to which the participants are respected as free and autonomous agents. 3. The degree to which the transaction provides actual benefits.

Which of the following are true of the environmental laws enacted in the United States in the 1970s?

1. They established standards that shifted the burden from those threatened with harm to those who would cause the harm. 2. They established regulatory standards to try to prevent the occurrence of pollution or species extinction.

According to Fortune journalists Ram Charan and Julie Schlosser, which of the following should board members do to better fulfill their responsibilities?

1. They should be critical in their inquiries about corporate vulnerabilities. 2. They should be aware of how the firm actually makes its money and whether customers and clients actually pay for products and services. 3. They should understand where the company is heading and whether it will realistically get there.

Which of the following are true of conservationists?

1. They stated that business had reasons for conserving natural resources that paralleled the rationale to conserve financial resources. 2. They argued against the exploitation of natural resources as if they were inexhaustible.

Privacy issues in the workplace evoke an inherent conflict between employers' right to protect the firm and employees' right to privacy. Through which of the following can such a conflict arise in a work environment?

1. Through different forms of monitoring. 2. Through the regulation of personal choices or activities.

According to the Genetic Information Non-Discrimination Act (GINA), under which of the following circumstances can employers release genetic information about employees?

1. To a health researcher. 2. To an employee upon request. 3. To a public health agency. 4. To comply with a court order.

According to the Genetic Information Non-Discrimination Act (GINA), under which of the following circumstances can employers collect genetic information about employees?

1. To comply with the Family Medical Leave Act. 2. To examine the biological effects of toxic substances in the workplace.

Why do firms monitor their employees?

1. To manage the workplace to place employees in suitable positions and to ensure compliance with affirmative action requirements. 2. To help managers prevent the loss of productivity.

Why do employers use monitoring beyond the management of human resources?

1. To protect their investment in bandwidth and equipment. 2. To secure proprietary information. 3. To prevent theft.

Identify the true statements about the global trends in executive compensation over the years.

1. Total direct compensation for CEOs increased 16 percent in 2005. 2. Forbes reported that the CEOs of 800 major corporations received an average 23 percent pay hike in 1997.

Identify the true statements about legal status of employee monitoring in the United States.

1. Under most circumstances, employers are allowed to monitor employee e-mails. 2. As of 2016, employers are prohibited from obtaining social media passwords from prospective or current employees in 23 states.

Which of the following are true of the revisions that were made to the European Union's Directive on Personal Data Protection in 2015?

1. Under the new law, national watchdogs can fine companies for misusing an individual's online data. 2. The revised law requires companies to inform national regulators of a breach within three days of it being reported.

Identify the guidelines that firms should follow if they are to evolve toward a sustainable business model.

1. Waste should be eliminated or, at least, not produced at a rate faster than the biosphere can absorb it. 2. The energy used to power the economic system should be renewable. 3. Resources should not move into the economic cycle from the biosphere at rates faster than they are replenished.

In which of the following situations can a conflict of interest arise?

1. When a person's personal interests clash with the dot she or he agreed to accept on behalf of someone else. 2. When a person's ethical obligation in her or his professional duties clash with personal interests.

In the context of drug testing of employees, in case of which of the following employees is there a compelling public interest claim from a utilitarian perspective that may be persuasive enough to outweigh any one individual's right to privacy?

A bus driver.

In the context of ethical theory, match the functions of lofty compensation packages with the situations in which they serve these functions.

A utilitarian function - When the packages act as incentives for executives to produce overall improvements. An ethical principle - When the package compensate people based on what they have earned and deserve.

Which of the following is true of the control that advertising has on consumers?

Advertising affects consumers' autonomous desires.

Match the gatekeepers of the economic system with their roles.

Auditors - They verify a company's financial statements so that investors' decisions are devoid of fraud and deception. Analysts - They evaluate a company's financial prospects or creditworthiness to help banks and investors make informed decisions. Attorneys - They ensure that business decisions and transactions comply with the law.

_____________, or "closed-loop" production, seeks to integrate what is presently waste back into production in much the way that biological processes turn waste into food.

Biomimicry

Match the components of the circular flow model with their outputs.

Business - Goods and services, wages, salaries, rents, profits, and interests. Households - Resources and payments.

Match the cases that dealt with monitoring in the United States with their features.

City of Ontario V. Quon - The issue of employer monitoring was addressed for the first time by the U.S. Supreme Court. Riley V. California - Explicit protection of cell phones and other similar devices was found by the U.S. Supreme Court under the Fourth Amendment.

The _______ of _________ _________ (COSO) is a voluntary collaboration of professional audit and accounting organizations that seeks to improve financial reporting through a combination of controls and governance standards called the Internal Control-Integrated Framework.

Committee of Sponsoring Organizations

Match the types of business laws with their features.

Contract law - It holds that a person owes only those duties that have been explicitly promised to another party. Tort law - It holds that everyone owes other people certain general duties, even if they have not explicitly and voluntarily assumed them.

Match the legal approaches to product safety with their features.

Contract law - Recognizes that there is an implicit promise that a product will perform as promised without hurting the user. Tort law - Recognizes that everyone has a general duty not to cause harm to others. Strict liability - Addresses issues of legal and ethical responsibility for cases in which someone has been harmed but no one is at fault.

__________ _____________ ___________ ___________ (CAFE) is the sales-weighted average fuel economy, expressed in miles per gallon (mpg), of a manufacturer's fleet of passenger cars or light trucks.

Corporate Average Fuel Economy

________ ________ refers to the structure by which corporations are managed, directed, and controlled toward the objectives of fairness, accountability, and transparency.

Corporate governance

___________-____________-___________ responsibility holds that a business should be responsible for incorporating the end results of its products back into the productive cycle.

Cradle-to-cradle

___________-__________-________ responsibility or life-cycle responsibility holds that a business is responsible for the entire life of its products, including the ultimate disposal even after the sale.

Cradle-to-grave

___________________ ___________________ refers to the maintenance and either periodic or random review of e-mail communications of employees or others for a variety of business purposes.

E-mail monitoring

Match the approaches to addressing the environmental concerns associated with business with their features.

Efficient markets - In this case, responsible business managers should simply seek profits and allow the market to allocate resources efficiently. Government regulations - In this case, business should develop a compliance structure to ensure that it conforms to requirements.

The ______________ ______________ _____________ Act (ECPA) of 1986 is the U.S. statute that establishes the provisions for access, use, disclosure, interception, and privacy protections relating to electronic communications.

Electronics Communications Privacy

The ethics of finance was brought to prominence at the beginning of the 21st century by the collapse of __________ and its accounting firm Arthur Anderson.

Enron Corporation

The __________ ___________ ___________ _________ covers many of the same issues at the Sarbanes-Oxley Act but applies these requirements and restrictions to companies traded on European Union exchanges.

European Union 8th Directive

True or false: When a business is held accountable for injuries caused by its products, the costs for injuries will eventually fall on the business itself and it will be unable to make a profit.

False

True or false: the gap between the average annual pay for corporate chief executive officers and the average annual salary earned by factory workers has declined dramatically in recent years.

False

True or false: According to the sustainable model of the economy, the biosphere can produce resources and absorb wastes indefinitely.

False.

True or false: Based on philosopher George Brenkert's argument on the informational sense of privacy, it can be concluded that an important way to preserve one's personal integrity and individuality is to merge personal and professional relationships.

False.

True or false: Board members of a firm should not necessarily own stock as their interests would then be closely aligned with other stockholders, removing a possible conflict of interest.

False.

True or false: Drug testing is the latest way of monitoring employees in the workplace.

False.

True or false: One's responsibilities toward one's employer should take precedence over one's professional gatekeeper duties.

False.

True or false: The entire classical economic system will prove unstable if resources move through this system at a rate that is slower than the productive capacity of the earth and the earth's capacity to absorb the wastes and by-products of production.

False.

__________ ____________ occurs when someone is susceptible to some specific physical, psychological, or financial harm.

General vulnerability

The _____________ __________ __________ Act (GINA) came into effect in November 2009 and prohibits discriminatory treatment in employment based on the basis of genetic information.

Genetic Information Non-Discrimination

Match the U.S. states with their features in the context of privacy claims.

Georgia - Its courts were the first to recognize a common-law-or court-created - right to privacy. North Dakota - Its courts do not recognize any privacy claims that are usually accepted by other courts.

"__________" is the practice of promoting a product by misleading consumers about the environmentally beneficial aspects of the product.

Greenwashing

____________ are values that are fundamental across culture and theory.

Hypernorms

Which of the following practices cannot be justified by appeal to satisfying consumer interests?

Impulse buying

____________ ____________ refers to a process effected by an entity's board of directors, management, and other personnel that is designed to provide reasonable assurance regarding the achievement of objectives in the effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations.

Internal control

How is the revised version of the European Union's Directive on Personal Data Protection different from the original directive?

It applies to organizations based outside the European Union if they process personal data of EU residents or have customers in that region.

Why is privacy important?

It defines one's individuality by establishing the boundary between individuals.

Which of the following is true of the doctrine of respondent superior?

It holds employers responsible for the actions of employees when they employees are acting in the ordinary course of their duties to the employers.

Which of the following is true of the legal doctrine of strict product liability?

It holds manufacturers accountable in cases when consumers are injured by products, but no one is at fault.

Identify a true statement about the U.S. Constitution's Fourth Amendment protection against an unreasonable search and seizure.

It is only applicable in the public-sector workplace.

Which of the following is true of the American Institute of CPAs?

It publishes professional rules to prevent accountants from being put in conflicts of interest.

Which of the following should the board of a firm do if it is aware of a practice that it deems unethical but not illegal?

It should prohibit the practice to protect the long-term sustainability of the firm.

______________ ____________ ___________ is that environment where hypernorms or universal rules do not govern or apply to ethical decisions but instead culture or other influences govern decisions, as long as they are not in conflict with hypernorms.

Moral free space

Recently, it was discovered that the ___________ was harvesting millions of e-mail and instant messaging contact lists, searching e-mail content, and tracking and mapping the location of cell phones, often with help of telecommunications companies.

National Security Agency (NSA)

It was recently revealed that the National Security Agency (NSA) was tapping into the data centers of companies like Yahoo! and Google to collect information from account holders worldwide based on court-approved explicit access through its __________ program.

PRISM

__________________ _______________ refers to any information relating to an identifiable person, directly or indirectly, in particular by reference to one or more factors specific to her or his physical, physiological, mental, economic, cultural, or social identity.

Personal data

Which of the following is true of the impact of marital status and dating on employment?

Policies and attitudes on workplace dating have a very strong potential impact.

__________________ refers to the right to be "let alone" within a personal zone of solitude, and/or the right to control information about oneself.

Privacy

_______________ in the workplace raise ethical issues that involve individual rights as well as those that involve utilitarian outcomes.

Privacy issues

Match the types of accounting activities with their responsibilities.

Public accounting activities - To audit and certify information. Accounting activities conducted by investment banks and securities analysts - To provide guidance on the future prospects of a venture.

"______________ _____________" refers to the growing marketing practice of taking back one's products after their useful life.

Reverse channels

A(n) ___________ ___________ _________ is considered "adequate standards" of privacy protection for U.S.-based companies under the European Union's Data Protection Directive.

Safe Harbor expectation

The _________-_________ ___________, or the Public Accounting Reform and Investor Protection Act of 2002, was implemented on July 30, 2002, and administered by the Securities and Exchange Commission to regulate financial reporting and auditing of publicly traded companies in the United States.

Sarbanes-Oxley Act

Match the significant provisions of the Sarbanes-Oxley Act with their features.

Section 201 - It prohibits various forms of professional financial services that are found to be consulting and not auditing. Section 301 - It requires public company audit committees to be independent, mandating total absence of current or prior business relationships. Section 307 - It establishes rules of professional responsibility for attorneys.

Match the important provisions of the Sarbanes-Oxley Act that impact corporate governance and boards with their characteristics.

Section 404 - It requires that management file an internal control report each year along with its annual report. Section 406 - It requires codes of ethics for senior financial officers. Section 407 - It requires audit committees to have a financial expert.

Identify an aspect of pricing that appears to be a perfect fit for sustainable marketing goals.

Short-term losses are often justified in setting prices by appeal to long-term benefits.

_________________ ______________ is a legal doctrine that holds an individual or business accountable for damages whether or not it was at fault.

Strict liability

Match the organization that govern accounting practices in the United States with their features.

The American Institute of Certified Public Accountants - It establishes a Code of Professional Conduct that relies on accounting professionals' judgement in carrying out their duties. The Financial Accounting Standards Board - It establishes generally accepted accounting principles (GAAP).

Match the justifications for lofty compensation packages with the purposes that the packages are believed to serve.

The consequentialist justification - They incentivize executive performance. The deontological justification - They reward accomplishments.

Match the branches of ethics with their views on manipulation during market exchanges.

The principle-based tradition - It has the strongest objections to manipulation as it disrespects people by bypassing their own rational decision making. The utilitarian tradition - It offers a conditional critique of manipulation that is dependent on the consequences.

Match the business models with their views.

The regulatory and compliance model - It tends to view environmental responsibilities as constraints upon business. The sustainability model - It is more forward looking and may present greater opportunities than burdens to business.

In the context of negligence, match the standards of the potential harms that can be foreseen with their characteristics.

The standard of actual foreseeability - It could allow people to escape liability by not actually thinking about the consequences of their acts. The reasonable person standard - It requires people to avoid injuries that they should have considered.

True or false: Sustainable marketing can play a role in creating the social meanings and consumer expectations that support sustainable goals.

True

True or false: Throughout the history of industrial economies, business has most often considered environmental concerns to be unwanted burdens and barriers to economic growth.

True

True or false: Business generally has an ethical responsibility to design, manufacture, and promote its products without causing harm to consumers.

True.

True or false: Environmental concerns are relevant to business because human being depend on the natural environment for their survival.

True.

True or false: Externalities prove that even if both parties to a marketing exchange receive actual benefits from the exchange, other parties external to the exchange may be adversely affected.

True.

True or false: One of the reasons that employee advocates argue against monitoring in the workplace is that monitoring is an inherent invasion of privacy.

True.

True or false: Private property rights are dependent on the existence and enforcement of rules that state who has a right to take on which activities on their own initiative and how the returns from those activities will be allocated.

True.

The given image represents the Natural Step's funnel that depicts the relationship between business and sustainability. While A represents the resources necessary to sustain life, B represents___________.

aggregate worldwide demand.

The _________ ___________ movement attributes a moral standing to animals and raises some of the most widely publicized ethical challenges to business.

animal rights

The Natural Step challenges business to imagine what a sustainable future must hold. From that vision, creative businesses then look backward to the present and determine what must be done to arrive at that future. This is known as....

backcasting.

The caveat emptor approach places the burden of risk of information on the.........

buyer.

Humans came to appreciate the self-interested reasons for protecting the natural environment by the late 19th century. The ________ movement, the first phase of modern environmentalism, advocated a more restrained and judicious approach to the natural world.

conservation

The Committee of Sponsoring Organizations (COSO) describes "____________" as encompassing "those elements of an organization that, taken together, support people in the achievement of the organization's objectives."

control

In an organization, _____________ ____________ refers to cultural issues such as integrity, ethical values, competence, philosophy, and operating style.

control environment

Google has faced a wave of litigation over privacy issues due to......

data mining.

In his 1958 book The Affluent Society, John Kenneth Galbraith claimed that advertising and marketing were creating the very consumer demand that production subsequently aimed to satisfy. Dubbed the "____________ _____________," this assertion held that consumer demand depended on what producers had to sell.

dependence effect

The _______ allows directors to rely on information and opinions if they are prepared or put forth by corporate officers, employers, a board committee, or other professionals the director believes to be reliable and competent in the matters presented.

duty of care

In the context of the legal duties imposed on board members by U.S. law, the __________ does not permit board members to act in a way that is inconsistent with the central goals of the organization.

duty of good faith

In the context of the legal duties imposed on board members by U.S. law, the __________ __________ ________ requires faithfulness; a board member must give undivided allegiance when making decisions affecting the organization.

duty of loyalty

The principle of "doing more with less" is sometimes called _________ __________.

eco-efficiency.

The ultimate goal of biomimicry is to.....

eliminate waste altogether.

Professionals such as financial planners are said to have ________ ________ - professional and ethical obligations - to their clients, duties rooted in trust that override their own personal interests.

fiduciary duties

A legal duty to act on behalf of or in the interests of another is called a(n) _________ __________.

fiduciary duty.

The __________ ________ of __________ holds that in selling a product, a business implicitly offers assurance that the product is reasonably suitable for its purpose.

implied warranty of merchantability

Trading by shareholders who hold private inside information that would materially impact the value of a stock and that allows them to benefit from buying or selling stock is known as ___________ __________.

insider trading.

Processes established internally, by boards and management, to ensure compliance with financial reporting laws and regulations are called _________ ________ mechanisms.

internal control

Critics of the strict product liability standard believe that it is especially unfair to business because.......

it holds business responsible for harms that were not caused by business negligence.

From the caveat emptor perspective, the only legal and ethical responsibility a business has is to......

make a good or service available at an agreed-upon price.

The concept of _______ and its subset of deception are central to issues of business ethics.

manipulation

The American Marketing Association defines __________ as "an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders."

marketing

According to philosopher George Brenkert, whether one's privacy is violated or not by a disclosure of personal information depends on......

one's relationship with the person or persons who come to know that information.

The legal and ethical sources of protection for privacy in personal data are called _____________

privacy rights.

The Heath Insurance Portability and Accountability Act (HIPAA) stipulates that employers cannot use "______________ ______________ ___________," which refers to all medical records or other individually identifiable health information, in making employment decisions without prior consent.

protected health information

In the context of workplace monitoring, a suggestion for balancing employer and employee interests is to.......

provide due notice to employees that they will be monitored.

While an employee has an obligation to respect the goals and property of the employer, the employer also has an obligation to respect the rights of the employee, including the employee's right to privacy. This concept is called a(n)......

reciprocal obligation.

Marketing campaigns that are based on environments or activities where the subject is not aware that she or he is the target of a marketing campaign are referred to as ____________ ___________.

stealth marketing.

A(n) _____________ _____________ _____________ is a model of business practice in which business activities meet the standards of sustainability.

sustainable business practice

According to the Brundtland Commission, _________ __________ is "development that meets the needs of the present without compromising the ability of future generations to meet their own needs".

sustainable development

The marketing of products on the basis of their environmentally friendly nature is known as ________ __________.

sustainable marketing.

A challenge posed by the new technology that is accessible in workplaces is........

the facelessness that arises from its use.

Corporate governance structures usually determine_________.

the relationship between the board of directors, the shareholders, and the executives of a firm.

In the context of business's environmental responsibility, a general agreement emerged in the United states in the 1970s that....

unregulated markets provide an inadequate approach to environmental challenges.

Many recent court decisions regarding workplace monitoring seem to depend specifically on......

whether the employee had notice that the monitoring might occur.

In the United States, the states of Michigan and Nevada and six cities ban discrimination on the basis of weight. The issue of making employment decision based on weight depends on......

whether the employee's weight is evidence of or result from a disability.