Intro to Business - Chapter 4

Which of the following must be considered when deciding the living wage, globally?

Companies must base their decision on their own values and the laws of both the U.S. and their host country

_____ is the social movement supporting the consumer's right to be informed, to be safe, to choose, and to be heard.

Consumerism

Which of the following is NOT an important step in the successful implementation of a code of ethics?

Ensure ethics code are different for workers in different regions or countries.

Transparency International, a leading anticorruption organization, publishes a yearly index of "perceived corruption." In 2012, among 176 countries, _____ countries dominated the top of the list for lowest levels of corruption.

European

U.S. corporations are forbidden to offer bribes since 1977 under the _____.

Foreign Corrupt Practices Act

Which of the following has made ethics and social responsibility even more complicated for workers at every level?

Globalization

Harris has been the top performer in his company for the last two years. This year, he is facing tough competition from John, a new employee. In order to keep his position as the top performer, Harris decides to spoil John's reputation in the company. When Greg, Harris's manager, hears about the unethical plan, he confronts Harris. Instead of giving up on his plan, Harris asks Greg to help him get John fired. Harris also threatens Greg saying that if Greg refuses to help him he will then inform higher management of Greg's manipulation of company accounts. Which of the following best describes Greg's situation?

Greg is in a true ethical dilemma.

Iris has been told by her boss that the company is planning to lay off some people, and in her department only one employee will be retained. In order to keep her job, Iris has to sabotage the professional image and good work of her colleagues, or she will be laid-off. This situation is an example of:

an ethical dilemma.

A unifying written document that articulates a firm's ethical priorities is described as the company's:

code of ethics.

A written code of ethics is the:

cornerstone of any formal ethics program.

One core responsibility of business is to:

deliver consumer value by providing quality products at fair prices.

Socially responsible employers:

ensure that hard work, commitment, and talent pay off.

Universal ethical standards are _____.

ethical norms that apply to all people across a broad spectrum of situations

Ben & Jerry's is recognized for being a socially conscious trendsetter. As a socially responsible company, this maker of high-quality ice cream is likely to focus on:

finding the proper balance between earning profits and meeting responsibilities to other stakeholders.

Developing and promoting environmentally sound products and practices to gain a competitive edge is called:

green marketing.

Research indicates that organizational culture:

has significant influence on the individual employees' ethical behavior.

The starting point for socially responsible employers is to meet _____.

legal standards

The goal of sustainable development is to:

meet the needs of the current generation without harming the ability of future generations to meet their needs.

According to research by the Ethics Resource Center, the most important influence on ethical behavior in the workplace is:

organizational culture.

The purpose of a written code of ethics is to:

provide guidance to help employees make sound ethical decisions across a range of situations.

Janet reasons, "It's wrong to lie. However, it's okay to overstate my expense account on my last trip because I really need the money, and the company hasn't given me a raise in the past year." This is an example of an employee who applies _____ to fit the situation at hand.

relative ethical standards

A canoe and recreation club recently filed suit against a number of manufacturing plants located along the Missouri River. In the suit, the club claimed that the plants failed to adequately treat the waste that is being dumped into the streams and waterways, thus adversely affecting the recreational opportunities available to club members. The canoe and recreation club is an example of a(n) _____ of the manufacturing companies that operate these plants.

stakeholder

The _____ of a company that produces gourmet coffee include its employees, coffee bean growers who supply the company, people who drink its gourmet coffee, and the people who live in the community where the company produces the coffee.

stakeholders

David Adams is the chief executive officer of Grand Rocks Mining Company. He has convinced the company's board of directors to implement a program which reduces the company's impact on the environment in which it operates, although this program will negatively impact the company's net income in the short term. The company is making an effort to meet the needs of all:

stakeholders.

Social responsibility is _____.

the obligation of a business to contribute to society

The role of the CEO in setting the ethical tone for a company is:

to establish high ethical standards, clearly communicate these standards, and demonstrate a strong personal commitment to them.

Socially responsible companies should establish codes of conduct for their ______ that set clear policies for human rights, wages, safety, and environmental impact.

vendors

Neil noticed that some of his company's sales representatives were behaving in an unethical manner with clients. He intends to report this ethical lapse through his company's anonymous ethics hotline. If he reports this unethical behavior, he would be a:

whistle-blower.