MAN2021 Chapter 3

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.

1. Being a global corporate citizen 2. Being ethical in its practices 3. Obeying the Law 4. Making a Profit

Which are elements of corporate governance that are tied to ethics? (Choose every correct answer.)

Accurate reporting Long-term plans Work environment

What statement regarding ethical climates is TRUE?

An ethical climate significantly affects the frequency of ethical behavior.

Which are aspects of the professionalism/work ethic core competency that are most relevant to ethics? (Choose every correct answer.)

Concern for society Demonstrated integrity Ethical behavior

_____ forces consist of conditions such as unemployment, inflation, interest rates, and economic growth that may affect an organization's performance.

Economic

Which of these are forces within an organization's general environment? (Choose every correct answer.)

Economic International Sociocultural Demographic Technological Political-Legal

True or false: Ethical standards do not vary among countries or cultures.

False Reason: There is significant variance between ethics among countries and cultures.

Which groups are parts of the task environment? (Choose every correct answer.)

Government regulators Distributors Local communities Strategic allies

According to free-market economist Friedman, what is the only social responsibility of a business?

Making profits

Which group is projected to make up almost 60% of the workforce by 2029?

Millennials and Gen Zers

How did CEO dismissals related to ethical concerns change between 2008 and 2018?

More CEOs were fired for misconduct.

Which core competency of career readiness is most closely tied to ethical concerns?

Professionalism/work ethic

Which are actions to take to increase a focus on the greater good? (Choose every correct answer.)

Reduce carbon footprint. Expand knowledge of social inequality. Fulfill promises.

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

Stakeholders

Millennials in the workforce: (Choose every correct answer.)

are concerned about a corporation's ethics, motives, and methods expect more from the organizations they do business with want work/life balance expect more from the organizations they work for

What are two examples of economic forces within a company's general environment?

bank interest rates the unemployment rate

An organization's ethical _____ represents employees' perceptions about the extent to which the work environment supports ethical behavior.

climate

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

climate change

Four restaurants that are all seeking to attract the same customers would be categorized as _______.

competitors

The people or organizations that vie with your company for customers or resources are known as _____.

competitors

Running a company and protecting the interests of owners and other stakeholders is known as _____.

corporate governance

Today, it is stressed even more that companies go beyond just making a profit and take into consideration the environment and philanthropic initiatives. This is known as practicing ______.

corporate social responsibility

Sofia paid for a haircut and some hair-care products at a local salon. In the task environment, Sofia would be classified as a _______.

customer

Those who pay to use an organization's services or to buy their goods are called ______.

customers

A person or an organization that helps another organization sell its goods and services to customers is called a(n) ______.

distributor

An organization's internal stakeholders consist of

employees, owners, 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

Spending time in nature, fostering positive emotions, and reducing one's carbon footprint are strategies to foster a more ______ attitude.

ethical

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

ethics

People who are outside an organization but are still affected by the organization are called the ______.

external stakeholders

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

fair trade

A company's triple bottom line measures which aspects of its performance? (Choose every correct answer.)

financial environmental social

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

The macroenvironment is also known as the _______ environment.

general

A company's external environment consists of which two environments?

general task

The rise in the average temperature near the Earth's surface due to an increase in greenhouse gases in the atmosphere is called _____ and is one aspect of climate change.

global warming

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 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

A distributor is sometimes referred to as a(n)

middle man

A company's triple bottom line represents which aspects? (Choose every correct answer.)

people profit planet

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

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

philanthropy

Suppliers are people or organizations that

provide raw materials, services, equipment, labor, or energy to other organizations.

What are actions your book suggests that individuals can take to become more ethical consumers? (Choose every correct answer.)

purchase fair trade items provide your own bags at the grocery store don't purchase items that aren't ethically made or sourced don't buy knockoff items

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

social

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

A company or person that provides raw materials, services, equipment, labor, or energy to another organization is called a(n) _____.

supplier

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

task

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

When managers use financial performance as the best definition of an ethical choice, they are taking a(n) ______ approach to organizational decisions.

utilitarian

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.