Business Dynamics - Chapter 4: Business Ethics and Social Responsibility

Which of the following statements is true of ethics?

Actions that are completely legal can still be unethical.

Blank is a widely accepted social movement that supports a buyer's right to be informed, to be safe, to choose, and to be heard.

Consumerism

In the context of monitoring ethics and social responsibility, which of the following is the starting point of a social audit?

Establishing goals

Consumerism is a widely accepted social movement. Which of the following can be considered a consumer's right?

Expressing legitimate complaints easily

Alfred, a human resource manager at an IT firm, reasons, "Although everyone should be given an equal opportunity, but for once it is fine to give my friend the first shot at the opening in my company because I know he really needs the job." In this context, which of the following statements is most likely true of Alfred?

He views ethics as relative.

In the context of an organization dedicated to promoting corporate social responsibility, which of the following statements is true of measuring a company's success by evaluating a double bottom line?

It accounts for traditional financial indicators, such as earnings.

In the context of bringing the code of ethics of a company to life, which of the following statements is true when experts try to advocate a forceful, integrated approach to ethics?

It should be ensured that the company's ethics code is both local and global in scope.

The _____ limits conflict-of-interest issues by restricting the consulting services that accounting firms can provide for the companies they audit.

Sarbanes-Oxley Act

In the context of social responsibility,__________include employees and investors who have a personal interest in the performance and actions of an organization.

Stakeholders

In the context of a company's responsibility to the environment, which of the following is the idea behind sustainable development?

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

In the context of ethics and social responsibility in the global arena, which of the following statements is true of a business's responsibility to workers abroad?

When deciding living wages, companies must bring together their own values with the laws of both the United States and their host countries.

In the context of legal and ethical dimensions of business conducts, it is illegal but ethical to:

collaborate with other medical clinics to guarantee low prices in low-income counties.

The nonprofit, nonpartisan Character Counts organization has worked with various group of educators and community leaders to establish a set of:

core ethical values that transcend political, religious, class, and ethnic divisions.

In the context of universal ethical standards, being open-minded and not taking advantage of others exemplifies the core value of ...

fairness

David is the chief executive officer of Grand Rocks Mining Company. He has convinced the company's board of directors to implement a change in the mining procedure. According to the new procedure suggested by David, less resources will be exhausted. This will ensure that the ability of future generations to meet their needs is not harmed because of shortage of natural resources. By agreeing to David's suggestion, Grand Rocks has embraced the idea of ...

sustainable development