Business Ethics Final

According to CEO Larry Fink, BlackRock's research shows that all of the following is true except

"meaningful work" is a public relations goal promoted only by "woke" corporations.

The "Separation Thesis" holds that

Ethical considerations should be kept out of business.

Which of the following statements is true of ethical theories?

Ethical theories not only guide our actions but also provide reasonable justification for prescribing behavior

t.f Both liberals who believe that the ethical assessment of work should be based on how work affects the workers' ability to make free and autonomous decisions about their lives and the human fulfillment school that makes that judgment on the basis of what makes a good meaningful human life are saying essentially the same thing.

False

t//f Bowie's Kantian model of corporate social responsibility obliges managers to do no harm, but they must also be prepared at times to do some good or prevent some harm.

False

t/f According to philosophical ethics, a simple acceptance of customary norms is an adequate ethical perspective

False

t/f Efficient markets guarantee that an ethically worthy outcome has been achieved.

False

t/f If something is seriously wrong, the law will prohibit it. Consequently, it's enough to rely on the law for deciding what's right or wrong.

False

t/f In a study of the nature of ethical leadership, if leaders strongly demonstrated individual traits of receptivity, listening, openness, and caring for people, these traits were found to impede their success and employees' perception of them as ethical leaders.

False

t/f Jeremy Bentham argued that only the absence of pain is intrinsically valuable.

False

t/f Milton Friedman did not recognize that there are limits to the pursuit of profits.

False

t/f One way to understand rights is to identify them with a person's wants. Rights protect these wants even though, objectively, they may conflict with what is really good for a person.

False

t/f Section 230 of the U.S. Communications Decency Act of 1996 proved that obeying the law is sufficient for a business eto fulfill its ethical and social responsibilities.

False

t/f The role of an ethics course should be to convey information to a passive audience, while treating students as passive learners.

False

t/f The stakeholder theory of corporate social responsibility is totally incompatible with the utilitarian ethical theory because the stakeholder concept requires balancing the interests of all the parties affected by business decisions.

False

t/f There is no reason to believe that ad hoc attempts to repair market failures, such as determining shadow prices for unpriced social goods, or exempting social goods from the market, or using the law to address social goods that are unattainable through individual choice, are socially inadequate.

False

t/f To use a company's resources for a project that does not contribute to maximizing profits is sometimes acceptable and even sometimes required under the economic model of corporate social responsibility.

False

t/f Unlike utilitarians, policy makers are not concerned with the well-being of the whole community.

False

t/f in a society that values individual freedom, everything that is legal is ethically right and everything that is ethically wrong is illegal.

False

According to the private property defense of the economic model of corporate social responsibility, managers who use corporate funds for projects that are not directly devoted to maximizing profits are stealing from their owners. Which statement supports this view?

Investors buy their stocks with the hope of maximizing return on their investment.

Which of the following statements is true of the stakeholder model of corporate social responsibility?

It begins with the insight that every business decision affects a wide variety of people, benefiting some and imposing costs on others.

Indicate the statement that is not consistent with Bowie's liberal theory of work.

It is a simple enough task to find a justification for any objective, normative definition of meaningful work.

Which of the following statements is not true about the issues confronting business ethics?

Jobs do not have the potential for influencing and shaping individuals.

In which of the following ideas are the ethical roots of the economic model of corporate social responsibility found?

Managers are ethically obliged to make as much money as possible for their stockholders because to do otherwise would undermine the very foundations of our free society.

Which of the following moral rights could be waived in order to get a job or an increase in employment benefits?

None of the answers are correct.

Which statement fails to provide a valid reason in support of John McCall's claim that employees have a right to participate in management decisions?

None of the answers are correct.

Which of these is true regarding assessment and monitoring of the ethics of a corporate culture?

Ongoing ethics audits can and do serve all of these functions within an organization.

Which of the following statements correctly describes the relationship between philosophical ethics and ethos?

Philosophical ethical distinguishes what people do value from what they should value.

Which proposition correctly describes the concept of a right?

Rights protect a person's interest.

t/f A skeptical challenge to business ethics is that there is no common rational basis for making ethical judgements.

True

t/f A wider interpretation of the meaning of a stakeholder as any affected party places an impossible burden on managers who would have to account for everyone who might be affected by a business decision.

True

t/f According to John Stuart Mill, people need to be educated and experienced in a variety of pleasures before they are competent to judge.

True

t/f According to Kant, any action's maxim that cannot be universalized is ethically wrong and should not be performed.

True

t/f Business ethics is concerned more with reasoning than answers.

True

t/f Ethics ombudsmen and ethics hotlines in organizations allow employees to report wrongdoing and create procedures for follow-up and enforcement.

True

t/f Ethics refers to the beliefs, values, and principles that guide a person's life and decisions.

True

t/f Gatekeepers are those people and institutions whose role is to provide checks on illegal and unethical behavior.

True

t/f Historically, utilitarians place a very high value on individual freedom of choice, even though free individuals do not always choose what is good for them.

True

t/f Human beings are no more naturally selfish and greedy than they are naturally kind and compassionate.

True

t/f In an organization, codes and rules prove to be meaningless if ethical behavior is not enforced

True

t/f Market failures occur in a variety of situations in which the pursuit of profit will not result in a net increase in consumer satisfaction because in these situations markets fail to do what they were designed to do.

True

t/f Philosophical ethics denies that conformity and obedience are the best guides to how we should live.

True

t/f Principle-based ethics, also called rights-based ethics, refers to the concept that the correct path to ethical decision making is determined by duties, such as obligations, commitments, and responsibilities, and not by consequences.

True

t/f Rights are sometimes described as "trumps" that override the collective will. Rights function to protect certain interests that are more important and central in human well-being than the mere happiness of others.

True

t/f The major reason to study ethics is to be able to answer questions such as "what should I do?" or "what type of person should I be?" or "how shall I live in my community?"

True

t/f The pursuit of profit is the mechanism by which a business is thought to serve the utilitarian goal of satisfying consumer demand, thereby maximizing the overall good.

True

t/f The theory of virtue ethics focuses on a full and detailed description of those character traits that would constitute a good and human life. Egoism is simply not a factor in the ethical decision making of caring, empathetic, charitable, and sympathetic persons.

True

t/f Utilitarian ethics directs us to maximize happiness.

True

t/f Utilitarian ethics has played a prominent role in forming public policy and laws governing finance, employment, consumerism, and world trade.

True

t/f Utilitarianism and consequentialism are the same thing.

True

t/f Virtue ethicists turn to such fields as psychology, education, organizational behavior, and sociology to gain insight about how to teach virtue.

True

t/f Virtue ethics reminds us to examine how character traits are formed and conditioned.

True

t/f We learn about market failures and thereby prevent harms in the future only by sacrificing the first generation as a means for gaining this information.

True

t/f a version of utilitarian ethics invoking the tradition of Adam Smith claims that competitive markets are the best means for attaining utilitarian goals. This is "market" utilitarianism.

True

t/f if the costs of externalities like air pollution, ground water contamination and depletion, soil erosion, and nuclear waste disposal are borne by parties who are not involved in the exchange between buyer and seller, the exchange price does not represent an equilibrium between true costs and benefits.

True

Which of the following is NOT a part of responsible decision making?

Using your common sense to decide

Which of the following statements is true of virtue ethics?

Virtue ethics directs us to consider how various character traits can contribute to, or obstruct, a worthy and good human life.

Which statement is true of Bowie's Kantian approach to business ethics?

While it is ethically good for managers to prevent harm or do some good, their duty to stockholders overrides these concerns.

How might a liberal have to respond to the suggestion that some workers might prefer to work at highly routine, unchallenging, and boring jobs?

While it may be true, on the one hand, that as long as no one is forcing employees to do these jobs, employers don't have to eliminate them, it is also true that accepting the ethical legitimacy of these jobs violates the fundamental values of rational and free choice.

In the context of the meaning of work, which of the following statements is true

Work means activities that involve perseverance, discipline, toil, usually performed with a degree of seriousness and concentration.

According to research conducted by Collins and Porras, which of the following is a common practice that explains the success of visionary companies?

a great emphasis on essential and enduring tenets

Work-from-home situations provide all of the following except

a more realistic work-life balance

Which of the following statements is a classical interpretation of work?

all answers are correct

Select the statement that describes the human potentials that work can fulfill.

all of answers are correct.

A corporate culture is fashioned by a shared pattern of all of the following except

bylaws.

t.f In the United States, civil rights laws do not protect employees from being fired on the basis of race and sex.

f

t.f To the degree that work can be intellectual, leisurely, and free, it can be meaningful; employment and wage labor are as likely to attain these conditions.

f

t/f The idea that the meaning and value of work is whatever the workers determine that it is simply doesn't challenge in any significant way Bowie's contention that employers have an obligation to provide meaningful work.

f

t/f Without collective bargaining, employers would have a stronger incentive to compromise with individual employees on levels of wages and benefits.

f

t/f "Whistleblowing" can harm the business and the whistleblower, but has not been known to end the unethical behavior it exposes.

false

t/f A good and effective leader must also be ethical.

false

t/f Ethics and ethos are the same thing.

false

t/f Personal decision making and ethical behavior within a given company actually are influenced very little, or not at all, by the corporate culture of that company.

false

t/f Prisoners' dilemma cases are examples of situations in which cooperation does not have a more optimal outcome than competition.

false

t/f The pressure of competetive markets alone is enough to weed out unethical behavior among organizations.

false

A procedural account of due process would preclude

list specifying beforehand every possible reason for dismissal and distinguishing them from unacceptable reasons.

A right to privacy for employees would prohibit employers from

monitoring an employee's personal email account.

t.f Rather than specifying every acceptable and unacceptable reason for dismissing an employee, due process refers to the procedures employers must go through before dismissing workers.

t

t.f The Greek philosopher Aristotle disparaged work because of its very necessary, and therefore slavish, nature.

t

t/f A job might be described simply as work in which self-identity and the activity are independent of each other.

t

t/f A modified version of the right to a job claims that the government should be the last resort for people who are able to work but unable to find jobs in the private sector.

t

t/f Karl Marx was sure that industrial capitalism inevitably, necessarily, alienates workers from the product of their work, from the creative process of work, and from their very essence as social creatures.

t

t/f Social conditions of routine, unchallenging, boring jobs tend to suppress the human faculties of rational and autonomous choice.

t

t/f it is its potential to be intimately connected to our deepest values that makes the meaning and value of work have important implications for the structure and operation of the workplace. Group starts

t

t/f the critics of work-life balance practices believe that work can be a central part of an individual's identity and it can have significant benefits for people.

t

The most influential theory of corporate responsibility of the past century is

the neoclassical economic theory.

t.f According to the human fulfillment model, the psychological and social benefits of work do not reduce to merely subjective and personal values.

true

t/f Before having an impact on the culture via a code of conduct or a statement of values, a company must first determine its mission and articulate its mission statement.

true

t/f Ethical behavior and an ethical reputation can provide a competitive advantage in the marketplace and with customers, suppliers, and employees.

true

t/f Ethical business leaders not only act ethically on a personal level, but also allocate corporate resources to support and promote ethical behavior in the workplace.

true

Identify a true statement regarding a job.

A job is a role that one steps into and out of as a means for earning money.

Which statement does not support the claim that an unconditioned ethical directive such as the one the economic model of corporate social responsibility demands of business management is inappropriate for utilitarian theory?

A more precise formulation of a utilitarian-based principle would be to maximize profit whenever doing so produces the greatest good for the greatest number, with the proviso that managers must consider the impact a decision will have in many ways other than merely financial.

Which of the following is a true expression of Marx's concept of alienation?

Alienation is the result of work that prevents the full development of human potential.

Which of the following reasons accounts for utilitarianism's dominance among policy makers and administrators?

All of the answers are correct

Ethical leaders are characterized by which of the following?

All of the answers are correct.

Which statement is a legitimate challenge to utilitarian ethical theory

All of the answers are correct.

Which of the following is true of an ethical organizational culture?

An ethical culture empowers employees to act in ethically responsible ways even when the law does not require it.

Which of the following statements is true of corporate cultures?

An organization's culture offers it direction and stability during challenging times.

Which of these is not a requirement of internal mechanisms for reporting wrongdoing within an organization?

They must report to legal authorities.

T/F Philosophical ethics distinguishes what people do value from what they should value.

True