Busi 22 Ch 3 Quiz

By​ definition, a company that takes​ __________ seriously does everything within its power to conform to the laws and regulations of its industry. A. legal compliance B. sustainability C. ethical avoidance D. environmental policy E. profitability

A. legal compliance

Which of the following is the best example of a social​ audit? A. An oil company performs an internal study to determine if the firm can remain profitable after being sued by an environmental group for not properly cleaning up an oil spill. B. An external audit researching the ability of a company to operate in an area that is environmentally unsustainable. C. An environmental group performs a study on how an oil company is handling the cleanup of an oil spill. D. The government accesses internal company records to determine if a company is breaking laws. E. An oil company performs an internal study on how well it is meeting the corporate social responsibility goals it has established.

A social audit: a way of measuring, understanding, reporting and ultimately improving an organization's social and ethical performance. A social audit helps to narrow gaps between vision/goal and reality, between efficiency and effectiveness. E. An oil company performs an internal study on how well it is meeting the corporate social responsibility goals it has established.

All of the following statements regarding ethics are true​ EXCEPT? A. Ethical behavior is​ good, but should not interfere with maximizing business profits. B. Ethical behavior is good for both the company and the community. C. Customers appreciate ethical behavior. D. Living ethically is beneficial for your health. E. Personal ethics and business ethics have many similarities.

A. Ethical behavior is​ good, but should not interfere with maximizing business profits.

Which of the following is true about a​ company's code of​ ethics? A. It is a written statement of the​ firm's commitment to ethical behavior. B. It guarantees that the company and all its employees will behave ethically. C. It is a written commitment to laws of the state in which the company is headquartered. D. It is the same as the​ company's vision statement. E. It is the same as the​ company's mission statement.

A. It is a written statement of the​ firm's commitment to ethical behavior.

All of the following statements regarding mission statements are true​ EXCEPT: A. Mission statements lay out a framework for a​ company's code of ethics. B. Mission statements help define the​ company's values. C. Mission statements explain why the company is in business​ (the company's purpos. D. Mission statements explain who the​ company's customer is. E. Mission statements list some of the​ company's goals.

A. Mission statements lay out a framework for a​ company's code of ethics.

Amar, a recently retired billionaire investment​ banker, has established a foundation to help build schools in Southeast Asia. This foundation is engaging in​ __________. A. corporate philanthropy B. moral relativism C. socially responsible investing D. legal compliance E. sustainability

A. corporate philanthropy

You have been tasked with assessing how well your company is meeting the CSR goals that it has established and whether its resources have been applied to those goals. Which of the following should you perform in making this​ assessment? A. An external audit of the​ company's legal compliance documentation B. A social audit C. A sustainability study D. A feasibility study E. A revision of the employee handbook

B. A social audit

When should a business comply with laws and​ regulations? A. Businesses should operate legally except in times of crisis. B. Businesses are required to operate within the law at all times. C. Businesses should operate in an ethical manner first and then focus on operating legally. D. Businesses should operate within the law as long as profits are not risked. E. As long as morals are not​ compromised, businesses should operate within the law.

B. Businesses are required to operate within the law at all times.

​_________ is the perspective that there is no universal moral truth but only a​ person's individual​ beliefs, perspectives, and values. A. Unethical behavior B. Moral relativism C. Situational ethics D. Personal ethics E. Amorality

B. Moral relativism

All of the following statements regarding personal ethics are true​ EXCEPT: A. Ethics can be violated. B. Ethics can be clearly defined. C. People never violate their personal codes of ethics. D. Ethics are the principles that guide the decisions you make in life. E. Ethics can be​ inconsistent, or situational.

C. People never violate their personal codes of ethics.

A​ whistle-blower is someone who​ __________. A. reports ethical behavior to clients B. takes credit for company wrongdoings C. reports corporate misconduct D. investigates wrongdoing by a company E. fines companies for illegal activity

C. reports corporate misconduct

Which of the following best describes​ Judeo-Christian ethics? A. A set of values shared by Jewish and Christian religions that require followers to be honest and​ hard-working. B. A set of values shared between Jewish and Christian religions that encourage respect of others and property and being kind to one​ another, as long as profitability is prioritized C. A set of values shared by Jewish and Christian religions that require followers to respect other followers of the same religion but not followers of other faiths. D. A set of values shared between Jewish and Christian religions that encourages respect of others and property and being kind to one another. E. A set of social norms developed by Jews and Christians that encourage the maximization of corporate profits as long as the company is behaving ethically.

D. A set of values shared between Jewish and Christian religions that encourages respect of others and property and being kind to one another.

All of the following statements about unethical behavior are true​ EXCEPT: A. Unethical behavior is unprofessional. B. Unethical behavior is usually bad for business. C. Unethical behavior is considered to be undesirable by most societal standards. D. Unethical behavior is the same as amoral behavior. E. Unethical behavior can be legal even if it is unethical.

D. Unethical behavior is the same as amoral behavior.

Nancy owns a gas station in a small town. Her friend Chuck owns the only other station in the community. One​ day, Nancy and Chuck get together and decide to drastically raise their prices. This is an example of​ _______. A. ​whistle-blowing B. a Ponzi scheme C. socially responsible investing D. price fixing E. situational ethics

D. price fixing

A home builder in Arizona makes a conscious effort to use as many recycled materials as possible during construction. This builder has a focus on​ __________ as a business model. A. philanthropy B. moral relativism C. situational ethics D. sustainability E. profitability

D. sustainability

When a business is operating in a way that knowingly puts a customer in​ harm, it is engaging in​ __________. A. price fixing B. amoral behavior C. social responsibility D. unethical behavior E. ​whistle-blowing

D. unethical behavior

Which of the following would be used to assess how well a company is meeting its social​ responsibilities? A. Its annual report to shareholders B. An environmental audit C. Its ethics training program D. The​ company's mission statement E. A social audit

E. A social audit

Which of the following terms best describes legal​ regulations? A. Laws that are only designed to protect the consumer from unethical business behavior B. Laws that specifically govern the ability of a company to operate in an area that is environmentally sustainable C. Laws which mandate moral behavior in the workplace D. A code of ethics that provides guidance for company behavior E. Laws that govern the products or processes of an industry

E. Laws that govern the products or processes of an industry

__________ are the doctrines that direct the decisions you make in your life. A. Situational ethics B. Business ethics C. Moral relativisms D. Personal responsibilities E. Personal ethics

E. Personal ethics

​Joe, a​ brand-new employee at a​ company, wants to know more about his​ company's core focus. Which of the following documents would give Joe the information he​ wants? A. The employee handbook B. Local laws and regulations that govern the industry in which the business operates C. The​ company's code of ethics D. The​ company's profit and loss statement from the previous quarter E. The​ company's mission statement

E. The​ company's mission statement

A major hardware retail chain requires purchasing managers to take courses on the ethical sourcing of products. This type of education is an example of​ a(n) __________. A. sustainability training workshop B. situational response training program C. legal compliance training program D. ​company's code of ethics E. ethics training program

E. ethics training program

Amoral behavior​ __________. A. involves someone knowing that what they are doing is morally right or wrong B. is behavior that a person engages in that is seen as right by moral standards C. is the same as unethical behavior D. does not involve consequences for the behavior E. happens when a person has no awareness of right and wrong and no interest in morals

E. happens when a person has no awareness of right and wrong and no interest in morals

Kimtoya makes a decision she feels is right based on the circumstances she is facing at the time. This is an example of​ __________. A. amorality B. moral relativism C. personal ethics D. unethical behavior E. situational ethics

E. situational ethics

​Yoon, a new​ manager, has been hired to ensure the employees in her company behave ethically. Which of the following would be most useful in ensuring that employees understand what it means to act in an ethical​ manner? A. A company mission statement B. A sustainable policy C. An employee handbook D. A social audit E. A code of ethics

E. A code of ethics

Which of the following answer options lists the five major areas of corporate social responsibility​ (CSR)? A. Human rights and employment​ standards; profitability​ maximization; marketing and consumer​ issues; environmental,​ health, and safety​ concerns; and litigation prevention B. Contract​ law; ethical sourcing and​ procurement; lobbying; financial​ concerns; and community and​ good-neighbor policies C. Community and​ good-neighbor policies; unemployment​ prevention; marketing and consumer​ issues; environmental,​ health, and safety​ concerns; and governmental regulation of services D. Employee​ recruitment; ethical sourcing and​ procurement; marketing​ strategy; environmental,​ health, and safety​ concerns; and community and​ good-neighbor policies E. Human rights and employment​ standards; ethical sourcing and​ procurement; marketing and consumer​ issues; environmental,​ health, and safety​ concerns; and community and​ good-neighbor policies

The four types of Corporate Social Responsibility are environmental sustainability initiatives, direct philanthropic giving, ethical business practices and economic responsibility. E. Human rights and employment​ standards; ethical sourcing and​ procurement; marketing and consumer​ issues; environmental,​ health, and safety​ concerns; and community and​ good-neighbor policies