MGMT 4073 Quiz #1-2

Which of the following describes a dual relationship?

A personal, loving, and/or sexual relationship with someone with whom you share professional responsibilities

When discussing societal values, we discussed Bradistan. One of the rules of Bradistan is to "be better." What value is Bradistan expressing with this rule?

Achievement

Cooperate social responsibility is

An organization's obligations to maximize its positive effects and minimize its negative effects on stakeholders

What is the first step in implementing a stakeholder perspective in an organization?

Assessing the corporate culture

Identify a true statement about ethical decision making in business.

At some point, every worker will be faced with an issue that will require ethical decision making. At some point, every worker, and certainly everyone in a management role, will be faced with an issue that will require ethical decision making. Not every decision can be covered by economic, legal, or company rules and regulations.

_____ is the offering of something of value in order to gain an illicit advantage.

Bribery

What type of fraudulent activity involves an employee who assists a consumer in fraud?

Collusion

The term used to express how a firm meets its stakeholder expectations of its economic, legal, ethical, and philanthropic responsibilities is

Corporates citizenship

Which of the following describes the four levels of social responsibility

Economic, legal, ethical, and philanthropic

The final step in implementing a stakeholder perspective is identifying stakeholders

False

The three fundamental elements that motivate people to be fair are honesty, integrity, and equality. ​

False

​Morals are enduring beliefs and ideals that are socially enforced.

False

When discussing societal values, we discussed Bradistan. One of the rules of Bradistan is to "Despise all lies." What value is Bradistan expressing with this rule?

Honesty

Board members being linked to more than one company is an example of

Interlocking directorate

Shareholders provide resources to an organization that are critical to long-term success. Which of the following does the book suggest that suppliers offer?

Material resources and/or intangible knowledge

Some economists believe that if companies address economic and legal issues, they are satisfying the demands of society, and that trying to anticipate an meet additional needs would be almost impossible. Which economist's theory are they following most closely with this belief?

Milton Friedman

When discussing societal values, we discussed Bradistan. One of the rules of Bradistan is to "Clean Your Room." What value is Bradistan expressing with this rule?

Order

Abusive or intimidating behavior is the most common ethical problem for employees. Which of the following is not related to this concept?

Performance probation

Which of the following do not typically engage in transactions with a company and thus are not essential for its survival?

Secondary stakeholders

Those who have a claim in some aspect of a firm's products, operations, markets, industry, and outcomes are known as

Stakeholders

Which of the following statements is true about business ethics?

There is no conflict between profits and business ethics

A firm's ethical reputation can provide a competitive advantage in the marketplace with customers, suppliers, and employees

True

Omission lying is intentionally not informing others of any differences, problems, safety warnings, or negative issues relating to the product or company that significantly affect awareness, intention, or behavior.

True

A firm's ethical reputation can provide a competitive advantage in the marketplace with customers, suppliers, and employees.

True A firm's ethical reputation can provide a competitive edge in the marketplace with customers, suppliers, and employees.

More than a compliance program, business ethics is becoming

a management issue to achieve competitive advantage.

The degree to which a firm understands and addresses stakeholder demands can be referred to as

a shareholder orientation

Ethical culture is defined as

acceptable behavior as defined by the company and industry.

Conflicts of interest exist when employees must choose whether to

advance their own personal interests, those of the organization, or those of some other group.

Corporate social responsibility is

an organization's obligation to maximize its positive effects and minimize its negative effects on stakeholders.

Business ethics is a part of decision making

at all levels of work and management.

Business ethics is part of a decision making

at all levels of work and managment

The term that comprises organizational principles, values, and norms that may originate from individuals, organizational statements, or from the legal system that primarily guide individual and group behavior in business is defined as

business ethics

A secret agreement between two or more parties for a fraudulent, illegal, or deceitful purpose is known as

collusion

In corporate governance, _____ is the process of auditing and improving organizational decisions and actions.

control

An employee sorts through a competing business's trash to see if there are any documents that could reveal secret information. This is a misuse of

corporate intelligence.

Directors share a _______, which means all their decisions should be in the best interests of the corporation and its stakeholders

duty of loyalty

Values are

enduring beliefs and ideals that are socially enforced

Accountability, oversight, and control all fall under the definition and implementation of corporate

governance

Investors are concerned about business ethics because they know that misconduct can

lower stock value and prices

The purpose of a stakeholder orientation is to

maximize positive outcomes that meet stakeholder needs.

When a restaurant claims that it sells the world's best cup of coffee, it could be accused of

puffery

In a general sense, anyone who is affects or is affected by decisions made within a firm can be called a business ________.

stakeholder

In a general sense, anyone who affects or is affected by decisions made within a firm can be called a business ________.

stakeholder In a general sense, a business stakeholder will be anyone who affects or is affected by decisions made within the firm, for better or worse. Failure to consider these additional stakeholders will have a detrimental impact on those stakeholders, on stockholders, specifically, and on the firm's long-term sustainability as a whole.

Those who have a claim in some aspect of a firm's products, operations, markets, industry, and outcomes are known as

stakeholders

A company can be sued for discrimination if it

uses age as a hiring or firing criterion.

The ethical decision-making process begins

when stakeholders trigger ethical issue awareness and individuals openly discuss it with others.