management 3200 final exam
According to the new social contract
companies try to attract workers by giving them interesting and challenging work.
The phase of technology that focuses on building material goods and manual labor is
industrial
A supplier that controls critical worker skills and technical know-how holds which type of power over their lead firm?
informational
The core rights of consumers include the right to
safety
The term community refers to a company's area of business influence.
true
With the ability to collect big data comes an increasing ethical responsibility over its usage.
true
Invasion of privacy through technology is best exemplified by
your car's GPS tracking you at every location.
The level of income inequality in the United States has fallen since the 1980s.
false
Firms that fully support both men and women in their efforts to balance work and family responsibilities are known as
family-friendly workplaces.
Employers are not required by law to agree to the union's demands, but they are required to bargain in good faith.
true
In 2018, the European Union passed legislation to protect personal user data during collection, processing, and storage.
true
Technology tends to ripple through society until it affects every community.
true
What is the purpose of a labor union?
ALL OF THESE CHOICES ARE CORRECT: to negotiate employee wages to promote safe working conditions to represent workers on the job
Social effects of global supply chains include impacts on
ALL OF THESE CHOICES ARE CORRECT: worker wages. working conditions. employee health.
In 2020, share values declined sharply during the coronavirus pandemic. This type of stock market is referred to as a
bear market.
A compulsion to engage in rewarding behaviors, despite negative consequences, is called
behavioral addiction.
The use of biological processes in the development or manufacture of a product or in the technological solution to a problem is called
biotechnology
What criteria must be met before a whistleblower goes public?
There is enough potential harm to justify the possible costs of disclosure.
An identifying marker placed on a user's computer hard drive used to build profiles of their behavior over time is called a
flash cookie.
Over time the role of the CIO
has become more integrated into the overall strategic direction of the firm.
A recent Oxford study noted that the move to robots tends to generate what kind of new jobs?
lower paying
One particularly negative aspect of behavioral advertising is
online users may be vulnerable to the spread of misinformation tailored to their beliefs.
What is a major ethical concern over businesses using drones?
personal privacy
Another term for corporate giving is corporate
philanthropy.
Nutrition labels on food products are an example of which consumer right?
right to be informed
Bias within the hiring process refers to
selecting only candidates that match a preconceived ideal of the role.
The SEC allows social responsibility shareholder resolutions on the ballot under what condition?
when the shareholder owns a certain number of shares for a certain time period
The risk online shoppers take when their Web profile negatively impacts their credit is known as
weblining.
What is one condition that can cause private governance of a business to emerge?
when firms have highly visible brands and are more vulnerable to reputational damage
The term cryptocurrency is accurately defined by which statement?
A digital currency that operates outside the banking system using encrypted technology.
What is one major concern about allowing romance in the workplace?
An unwelcome relationship could be demanded by an employee in a position of authority.
In 2019, more than 50 percent of minority-owned businesses were owned by
Asian Americans.
Businesses can reduce income inequality by taking which action?
Commit to paying a living wage to all employees.
Why are pay-for-performance stock option grants an incentive to improve company results?
If the company stock price increases, the executive compensation also rises.
What is one reason that firms partner with communities to increase economic development?
NOT to expand environmental sustainability
Why might a firm invest in improving educational opportunities in a community?
NOT to satisfy local government regulations
The relationship between business and the community is accurately described by the following:
The relationship is one of mutual interdependence.
The act that requires lenders to inform borrowers of the annual rate of interest to be charged, plus related fees and services charges, is called the
Truth in Lending Act.
An example of "insider trading" is
a manager sharing nonpublic news about an upcoming acquisition with a friend, who traded for a profit.
When firms invest in suppliers to exchange knowledge and collaborate on improvements, they create shared value for
both the supplier and the lead firm.
Social capital is a phrase that refers to all of the following, except
company funds set aside for employee events.
The board committee that administers and approves salaries and benefits of high-level managers in a company is called the
compensation
In 2020, the smallest source of philanthropic contributions in the United States came from which organization?
corporations
Which of these uses aggressive strategies to earn high returns for their investors?
hedge funds
The digital divide describes the gap between those
individuals who have access to technology and those who do not.
When businesses adopt voluntary policies for protecting the privacy of individuals' information disclosed during electronic transactions, this is an example of
industry self-regulation.
An argument against affirmative action is
it is inconsistent with the principles of fairness and equality.
One argument in favor of affirmative action is
it levels the playing field to correct past discriminatory hiring practices.
Minority enterprises often do business in locations with
low-quality public services.
In 2015, the largest generation in the workforce was
millennials.
According to the textbook, Asian American men now have higher median weekly earnings than white American men primarily because
most Asians had earned a bachelor's degree or higher.
Which example illustrates a legal reason for employee monitoring?
multiple part-time workers collaborating to steal company goods
The practice of using fake business emails to trick users into divulging personal data, such as usernames and passwords, is called
phishing
The purpose of the right to be forgotten is to
protect an individual's right to online privacy.
The mission of the Securities and Exchange Commission (SEC) is to
protect shareholders' rights by making sure that stock markets are run fairly.
A reason for institutions becoming more assertive in promoting the interests of their member investors is
protesting management performance by selling a large block of stock would reduce the value of the institution's holdings.
The "right to be heard" promises that consumers' interests will
receive full and sympathetic consideration.
Under what legal doctrine does a firm bear legal responsibility for injuries caused by something it made or sold, whether or not it was negligent?
strict liability
What is the first step that lead firms take to develop their suppliers?
supplier monitoring
A living wage has been defined as a wage that
supports half the basic needs of an average-size family, based on local prices.
What is the primary role of a consumer affairs officer?
to manage a complex network of contacts with customers
A legal right of shareholders is
to vote for members of the board of directors.
Robotic technology has advanced enough to generate many new business opportunities.
true
Since the 1960s, growth in the number of institutional investors in the United States has been phenomenal.
true
Workforce diversity represents both a challenge and an opportunity for businesses.
true
When businesses band together to agree on how they will treat their customers, this is called
voluntary industry codes of conduct.
Hackers employed by businesses or governments to intentionally discover weaknesses in information systems are called
white hatters
A good way for a business to express its commitment to corporate citizenship is
ALL OF THESE CHOICES ARE CORRECT: by establishing community relations programs. by correcting problems associated with its operations. by behaving responsibly toward all its stakeholders.
Companies can combat sexual and racial harassment—and protect themselves from expensive lawsuits—by
ALL OF THESE CHOICES ARE CORRECT: communicating a zero-tolerance policy on harassment to all employees. establishing a complaint procedure in a way that avoids retaliation. acting quickly to resolve any problems.
What is one trend in supply chain auditing?
Companies are working together to audit major suppliers.
The EU law passed in 2018 that required companies to promptly report personal data breaches was called the
General Data Protection Regulation.
Which of these is an example of business supporting their community, as described in the case "Salesforce's 1+1+1 Integrated Philanthropy Model"?
The company donated millions to public education in its home community.
One alternative to product liability lawsuits is called
alternative dispute resolution.
Which of the following is not a potential source of personal private data?
broadcast radio
A company that assures product quality often sees which impact?
build brand loyalty
Besides being helpful, firms often contribute to disaster relief funds to
build loyalty from those grateful for the assistance.
Voluntary agreements among business, government, and society to achieve goals are called
collaborative partnerships.
A recent study found that companies that paid workers above-average wages saw which impact?
excellent shareholder returns
All overseas supplier factories that pay low wages are engaging in a highly unethical social practice.
false
One ethical concern about businesses collecting vast amounts of stakeholder data is
if the effort actually benefits the stakeholders.
The primary skills required in the information stage were
intellectual and electronic skills.
The idea that every distribution channel must work together to deliver a unified and consistent customer experience is called
omnichannel
Which industry has consistently given the most in-kind contributions?
pharmaceutical companies
Benefits of managing diversity and inclusion effectively include all except
the federal government provides diversity-related tax breaks.
Which of the following type of audit is perceived by stakeholders as more objective and reliable?
third-party
How do businesses support their community's civic needs?
through donations of money, goods, and time
Although several steps removed, distant suppliers can still have a big impact on a company's reputation and bottom line.
true
Nations have tended to move sequentially through each phase of technology, beginning with the lowest technology and moving higher with each step.
true
The term "supply webs" refers to the multiple steps taken to move a product or service from the most distant supplier to the customer.
true
The two main types of investors that own shares of stock in U.S. corporations are individuals and institutions.
true
Many companies have argued that the evolution of strict liability has
unfairly burdened them with excess costs.
The Sarbanes-Oxley Act makes it illegal for employers to retaliate against whistleblowers under what conditions?
when the information reported might impact the company's share value
The role of the Food and Drug Administration includes
ALL OF THESE CHOICES ARE CORRECT: approving a wide range of consumer products. pulling existing products off the market when necessary. issuing emergency authorizations for use of drugs not yet fully approved.
What is the mission of Data Privacy Day, held annually on January 28th?
ALL OF THESE CHOICES ARE CORRECT: empower people to protect their privacy escalate the protection of personal privacy help people control their digital footprint
Which groups often collaborate when developing industry-wide codes of conduct?
ALL OF THESE CHOICES ARE CORRECT: government officials nongovernmental organizations business organizations
Richard M. Locke argues that global supply chains are best managed through a combination of public and private governance because
ALL OF THESE CHOICES ARE CORRECT: government-enforced laws give legitimacy to demands for workplace changes. regulators benefit from record keeping required by private companies' codes of conduct. public and private organizations are able to share the enforcement workload.
What is another term for the shareholders of a firm?
ALL OF THESE CHOICES ARE CORRECT: investors stockholders owners
The use of robotics in the workplace has increased recently because
ALL OF THESE CHOICES ARE CORRECT: the cost of robots has decreased. robots are more reliable than people. new collaborative machines have been invented.
What is one reason why women and minorities fail to move into executive or board positions?
Recruiters rely heavily on the old boys' network.
Environmental concerns for supply chain managers may be mitigated by
adopting a policy of local sourcing.
What is one of the most common reasons that sexual harassment occurs on the job?
an imbalance of power
We are currently in which phase in the development of technology?
biotechnology
How are corporate directors typically compensated?
cash and stock
A CIO is the company's
chief information officer.
This business role interacts with locals, manages donations, and encourages employee volunteerism.
community involvement manager
A diverse and inclusive workforce provides companies with all of the following except
cultural insensitivity.
Downloading illegal files, spreading computer viruses, and stealing from online bank accounts is collectively referred to as
cybercrime
The place where information is stored, ideas are described, and communication takes place in and through an electronic network of linked systems is called
cyberspace.
Groups that collect and combine data from various sources into individual profiles that are sold to retailers and advertisers are called
data aggregators.
Variation in the important human characteristics that distinguish people from one another is called
diversity.
What is a cost-effective way for a lead firm to improve a supplier's performance when the cost to replace the supplier is high?
engage the supplier in capability building
Because supply chains have become heavily globalized, government regulation efforts are now more concentrated and increasingly effective.
false
Suppliers that dump toxic chemicals, emit air pollution, or reduce biodiversity have little impact on the lead firm that buys their products.
false
The United States has the most Internet users, more than any other country.
false
An argument that opposes the idea of high executive pay is
high salaries divert resources that could be used to invest in the business.
Caregivers who care for both children and elderly adults are often referred to as the
sandwich generation.
The main responsibility of the National Highway Traffic Safety Administration is to
set motor vehicle safety standards.
The Occupational Safety and Health Act gives workers the right to a job "free from recognized hazards that are causing or likely to cause death or serious physical harm."
true
When an employee believes that their employer has done something wrong or harmful to the public, and he or she reports the alleged organizational misconduct to the media, government, or a high-level company officials, what has occurred?
whistleblowing
The growing diversity in the U.S. workforce is due to
ALL OF THESE CHOICES ARE CORRECT: millennials and members of Gen Z entering the workforce. significant immigration from other countries. shifting patterns of work and retirement.
Communities depend on business for
ALL OF THESE CHOICES ARE CORRECT: schools. the arts. health care.
The "agency problem" arises when
managers act in their own interest, rather than in the interest of shareholders.
Codes of conduct are accurately described by which statement?
Most early codes of conduct were developed by individual companies.
About what percentage of the world's population uses social media?
slightly more than half
Many rapid changes in technology over the past few decades were facilitated by
ALL OF THESE ARE CORRECT: artificial intelligence. wireless networks. processing of big data.
Cybersecurity experts recommend including which essential elements for an incident-response plan for cyberattacks?
ALL OF THESE CHOICES ARE CORRECT: support from executive leadership involvement by all functional departments focus on how to respond to a breach
Besides spam filters, why has the global spam email rate declined in recent years?
Governments created strong penalties against spamming.
The share of all giving made up by in-kind contributions of products and services has been
rising steadily over the past decade.
One action a company can take to effectively manage diversity and inclusion is to
set up a diversity council to monitor the company's goals.
Companies where employees work long hours, at low wages, under unsafe conditions, are collectively referred to as
sweatshops
In the business context, inclusion means having policies that
tap into the diverse perspectives, life experiences, and approaches of each worker.
The Occupational Safety and Health Act gives workers the right to a job
that is free from recognized hazards that are likely to cause death or serious injury.
The term civic engagement describes
the active involvement of businesses and individuals in improving communities.
One of the main reasons that American executives are paid so much is because
their pay is set by the compensation committees of the board, largely comprised of other CEOs who have an interest in pushing compensation up.
One argument in favor of net neutrality is
to fairly compete, small, medium, and large firms should have the same Internet bandwidth.
The collection of large amounts of consumer data by businesses creates ethical issues of privacy and security.
true
What recent U.S. government regulations were implemented to control genetically modified foods?
uniform labeling of all foods containing genetically engineered ingredients
Why did some authoritarian governments limit access to the Internet?
ALL OF THESE ARE CORRECT: to suppress political dissent to impose ideological views to impose religious views
Consumer protection laws include regulating which type(s) of protections?
ALL OF THESE CHOICES AER CORRECT: pricing liability privacy
Why does the inclusion of women on corporate boards improve company performance?
ALL OF THESE CHOICES ARE CORRECT: Alternative courses of action are more realistically considered. Women bring different life experiences to discussions. Women are more likely to raise multiple stakeholder concerns.
Which of these statements is not true about supply chain transparency?
Brand loyalty among consumers is diminished by a firm's revelations.
Why do many companies favor the use of mandatory arbitration clauses?
Consumers have become more dependent on businesses for product quality because
This Act makes it a crime to circumvent antipiracy measures built into most commercial software agreements between the manufacturers and their users.
Digital Millennium Copyright Act
Institutional investors are accurately described by which statement?
Institutions invest their funds by purchasing shares of stock in corporations.
Random drug testing of employees is accurately described by which statement?
It screens randomly selected employees at various times through the year.
What is one criticism of honesty testing in the workplace?
NOT The American Psychological Association reported that testing always fails.
How are board members (directors) selected?
NOT The nominating committee elects the directors. NOT
What is the Sheltered Harbor?
NOT a nongovernmental organization that promoted international cybersecurity solutions NOT THIS ANSWER
Which form of corporate giving did Tableau's COVID-19 dashboard take, according to the case "Salesforce's 1+1+1 Integrated Philanthropy Model"?
NOT skills-based volunteerism
How are firms typically affected when they get involved with the community?
They often win the loyalty of customers, employees, and neighbors.
Which type of supplier is hired to provide products or services directly to a lead firm?
Tier 1
Racial harassment is illegal under
Title VII of the Civil Rights Act.
Which law allows individuals who sue federal contractors for fraud to receive up to 30 percent of any amount recovered by the government?
U.S. False Claims Act (as amended in 1986)
The activism of institutional investors in other countries has been spearheaded by
U.S.-based pension and mutual funds that acquired large stakes in foreign companies.
The type of cybercrime where malware locks the data on a computer and payment is demanded to unlock it, is called
a ransomware attack.
What impact has OSHA had on businesses?
a significant reduction in workplace deaths
Employees in the United States have the right to organize and bargain collectively.
true
Investors may receive an economic benefit from the ownership of stock by receiving
Both "dividends" and "capital gains" are correct.
Why has union membership declined in the United States since the 1950s?
NOT the ongoing economic recession NOT
