MANGMT3200 Final
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.
The growing diversity in the U.S. workforce is due to
All of these choices are correct.
The role of the Food and Drug Administration includes
All of these choices are correct.
A company that assures product quality often sees which impact?
Build brand loyalty
The law requiring that toys and infant products be tested before sale is called the
Consumer Product Safety Improvement Act
Employee theft is correctly described by which statement?
Employee theft is a significant economic, social, and ethical problem in the workplace.
The relationship between business and the community is accurately described by the following:
The relationship is one of mutual interdependence.
What is one criticism of honesty testing in the workplace?
WRONG ANSWER: The American Psychological Association reported that testing always fails
Which of these is an example of business supporting their community, as described in the case "Salesforce's 1+1+1 Integrated Philanthropy Model"?
WRONG ANSWER: The Philanthropy Cloud project allowed employees to track their volunteer hours.
What is one major concern about allowing romance in the workplace?
WRONG ANSWER: The couple, whether management or staff, would be too distracted to work effectively.
Why does the inclusion of women on corporate boards improve company performance?
WRONG ANSWER: Women are more likely to raise multiple stakeholder concerns.
Why has union membership declined in the United States since the 1950s?
WRONG ANSWER: a heavy reduction in globalization
What recent U.S. government regulations were implemented to control genetically modified foods?
WRONG ANSWER: a national ban on the use of various kinds of genetically modified seeds
A good way for a business to express its commitment to corporate citizenship is
WRONG ANSWER: by establishing community relations programs.
What is the first step that lead firms take to develop their suppliers?
WRONG ANSWER: capability building
Hackers employed by businesses or governments to intentionally discover weaknesses in information systems are called
WRONG ANSWER: gray hatters.
Over time the role of the CIO
WRONG ANSWER: has changed dramatically, superseding the role of the chief executive officer.
Minority enterprises often do business in locations with
WRONG ANSWER: high-income clientele.
Why might a company help a community with its housing needs?
WRONG ANSWER: to receive a discounted tax rate
The SEC allows social responsibility shareholder resolutions on the ballot under what condition?
WRONG ANSWER: whenever there is a good chance the proposal will be resolved before the election
According to the new social contract
companies try to attract workers by giving them interesting and challenging work.
Social capital is a phrase that refers to all of the following, except
company funds set aside for employee events.
A type of supply chain inspection that bypasses the factory and relies instead on worker feedback, is called a
crowdsourced audit.
Downloading illegal files, spreading computer viruses, and stealing from online bank accounts is collectively referred to as
cybercrime.
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.
A recent study found that companies that paid workers above-average wages saw which impact?
excellent shareholder returns
The level of income inequality in the United States has fallen since the 1980s.
false
Which type of supplier audit is being used when a company hires and trains its own staff of auditors?
internal
The practice of using fake business emails to trick users into divulging personal data, such as usernames and passwords, is called
phishing.
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 core rights of consumers include the right to
safety.
Caregivers who care for both children and elderly adults are often referred to as the
sandwich generation.
Bias within the hiring process refers to
selecting only candidates that match a preconceived ideal of the role.
About what percentage of the world's population uses social media?
slightly more than half
The Sarbanes-Oxley Act makes it illegal for employers to retaliate against whistleblowers under what conditions?
specifically when the firm is successfully prosecuted for violations of fraud
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
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 self-reinforcing feature of technology means that
technology acts as a multiplier to encourage its own faster development
The lack of jurisdiction of home country governments over supplier behavior is exemplified by
the United States Department of Labor having no control over safety in Indonesia.
The term civic engagement describes
the active involvement of businesses and individuals in improving communities.
Consumers have become more dependent on businesses for product quality because
the complexity of economic life makes choices complicated for consumers.
One argument in favor of net neutrality is
to fairly compete, small, medium, and large firms should have the same Internet bandwidth.
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.
Although several steps removed, distant suppliers can still have a big impact on a company's reputation and bottom line.
true
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
Minority groups experience disproportionately higher levels of unemployment, especially during times of economic hardship.
true
Nations have tended to move sequentially through each phase of technology, beginning with the lowest technology and moving higher with each step.
true
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
Social capital refers to the norms and networks that enable collective action.
true
Technology tends to ripple through society until it affects every community.
true
With the ability to collect big data comes an increasing ethical responsibility over its usage.
true
Workforce diversity represents both a challenge and an opportunity for businesses.
true
Many companies have argued that the evolution of strict liability has
unfairly burdened them with excess costs.
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
Invasion of privacy through technology is best exemplified by
your car's GPS tracking you at every location.
An argument that opposes the idea of high executive pay is
High salaries divert resources that could be used to invest in the business.
What is one drawback of conducting supplier audits?
On-site inspections are both expensive and time-consuming, and do not scale.
How are board members (directors) selected?
Shareholders elect the directors from a list of candidates.
One alternative to product liability lawsuits is called
alternative dispute resolution.
What is one of the most common reasons that sexual harassment occurs on the job?
an imbalance of power
Which of the following is not a potential source of personal private data?
broadcast radio
How are corporate directors typically compensated?
cash only
This business role interacts with locals, manages donations, and encourages employee volunteerism.
community involvement manager
All overseas supplier factories that pay low wages are engaging in a highly unethical social practice.
false
Because supply chains have become heavily globalized, government regulation efforts are now more concentrated and increasingly effective.
false
The United States has the most Internet users, more than any other country.
false
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.
When women and minorities are highly competent but are unable to attain executive positions, this is typically called
glass ceiling.
Warning consumers about the possible side effects of pharmaceutical drugs is an example of protecting consumers from
hazardous products.
Which of these uses aggressive strategies to earn high returns for their investors?
hedge funds
An argument in support of high executive compensation is
high salaries provide an incentive for innovation and risk-taking.
One ethical concern about businesses collecting vast amounts of stakeholder data is
if the effort actually benefits the stakeholders.
The digital divide describes the gap between those
individuals who have access to technology and those who do not.
The phase of technology that focuses on building material goods and manual labor is
industrial.
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.
In 2015, the largest generation in the workforce was
millennials.
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
Social effects of global supply chains include impacts on
All of these choices are correct
Communities depend on business for
All of these choices are correct.
Companies can combat sexual and racial harassment—and protect themselves from expensive lawsuits—by
All of these choices are correct.
Consumer protection laws include regulating which type(s) of protections?
All of these choices are correct.
Cybersecurity experts recommend including which essential elements for an incident-response plan for cyberattacks?
All of these choices are correct.
Many rapid changes in technology over the past few decades were facilitated by
All of these choices are correct.
The use of robotics in the workplace has increased recently because
All of these choices are correct.
What is the mission of Data Privacy Day, held annually on January 28th?
All of these choices are correct.
What is the purpose of a labor union?
All of these choices are correct.
Why did some authoritarian governments limit access to the Internet?
All of these choices are correct.
As a stakeholder, suppliers' interests include
Both "selling to customers and earning income" and "using productive capacity efficiently" are correct.
Which of these statements is not true about supply chain transparency?
Brand loyalty among consumers is diminished by a firm's revelations.
Which nation currently has the greatest number of Internet users?
China
Businesses can reduce income inequality by taking which action?
Commit to paying a living wage to all employees.
What is one trend in supply chain auditing?
Companies are working together to audit major suppliers.
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
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
Which law allows individuals who sue federal contractors for fraud to receive up to 30 percent of any amount recovered by the government?
Dodd-Frank Act of 2010
All countries have nearly identical intellectual property laws.
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 EU law passed in 2018 that required companies to promptly report personal data breaches was called the
General Data Protection Regulation.
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 reason why women and minorities fail to move into executive or board positions?
Recruiters rely heavily on the old boys' network.
Consumer groups have opposed the idea of product liability reform using which argument?
Strict liability pressures firms into making safe products.
What criteria must be met before a whistleblower goes public?
There is enough potential harm to justify the possible costs of disclosure.
How are firms typically affected when they get involved with the community?
They often win the loyalty of customers, employees, and neighbors.
Which statement below is true about shareholders?
They own equal shares of company assets.
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.
Employees in the United States have the right to organize and bargain collectively.
True
The current phase of technology is the service society.
True
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.
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.
Why are pay-for-performance stock option grants an incentive to improve company results?
WRONG ANSWER: High executive compensation attracts talent from competitors and suppliers.
Investors may receive an economic benefit from the ownership of stock by receiving
WRONG ANSWER: interest.
Age, ethnicity, gender, mental or physical abilities, race, and sexual orientation fall under which dimension of diversity?
WRONG ANSWER: secondary
Voluntary agreements among business, government, and society to achieve goals are called
WRONG ANSWER: social capital.
Intellectual property refers to
WRONG ANSWER: special laws protecting copyrights, patents, and trademarks.
What is another term for the shareholders of a firm?
WRONG ANSWER: stockholders
One example of a self-organized consumer protection method is
WRONG ANSWER: subscribing to Consumer Reports magazine.
How do businesses support their community's civic needs?
WRONG ANSWER: through partnerships with noncommunity businesses
An example of "insider trading" is
a manager sharing nonpublic news about an upcoming acquisition with a friend, who traded for a profit.
What impact has OSHA had on businesses?
a significant reduction in workplace deaths
A recent Oxford study noted that the move to robots tends to generate what kind of new jobs?
automated
In 2020, share values declined sharply during the coronavirus pandemic. This type of stock market is referred to as a
bear market.
The use of biological processes in the development or manufacture of a product or in the technological solution to a problem is called
biotechnology.
Besides being helpful, firms often contribute to disaster relief funds to
build loyalty from those grateful for the assistance.
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
One major advantage of conducting business online is
cost-effective marketing and promotions.
A diverse and inclusive workforce provides companies with all of the following except
cultural insensitivity.
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
When businesses band together to agree on how they will treat their customers, this is called
national industry standards.
The idea that every distribution channel must work together to deliver a unified and consistent customer experience is called
omnichannel.
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
Which industry has consistently given the most in-kind contributions?
pharmaceutical companies
The purpose of the right to be forgotten is to
protect an individual's right to online privacy.
A person's entitlement to protection from invasion of one's personal life is called the
right to privacy.
The share of all giving made up by in-kind contributions of products and services has been
rising steadily over the past decade.
Studying the underlying cause of repeated supplier violations is called
root cause analysis.
When a lead firm invests in supplier resources or offers training, this is an example of
supplier development.
A visual representation of the many links between a lead firm and its suppliers, superimposed on a geographical map, is called a
supply chain map.
A living wage has been defined as a wage that
supports half the basic needs of an average-size family, based on local prices.
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.
Why do many companies favor the use of mandatory arbitration clauses?
to avoid expensive liability lawsuits against them
Why might a firm invest in improving educational opportunities in a community?
to build a skills-based talent pool
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
The collection of large amounts of consumer data by businesses creates ethical issues of privacy and security.
true
The term community refers to a company's area of business influence.
true
The term diversity refers to variation in the important human characteristics that distinguish people from one another.
true