Chapter 4 Fund. Business

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

Expressing legitimate complaints easily

In the context of monitoring ethics and social responsibility, when firms monitor themselves, the process is referred to as ____.

a social audit

In the context of business ethics, _____ refers to a decision that involves a conflict of values.

an ethical dilemna

In the context of business ethics, _____ involves clear misconduct, unlike an ethical dilemma that involves a conflict of values

an ethical lapse

In the context of the frameworks developed by experts for reaching ethical decisions, which of the following is one of the key principles of most decision guides?

are the alternative solutions legal?

One of the ways by which companies can show their responsibility toward the environment is by reducing their

carbon footprint

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 globalization, one of the most challenging issues faced by companies and individuals that are involved in international business is

corruption

In the context of the legal and ethical dimensions of business conduct, it is illegal and unethical to:

engage in sexual harassment

An ethical dilemma involves clear misconduct at the workplace

false

One core responsibility of business is to deliver consumer value by providing quality products at fair prices. _____ are critical components of this equation.

honesty and communication

Promoting high-calorie/low-nutrient foods with inadequate information about the risks is a(n) _____ practice

legal but unethical

In the United States, people come from such diverse backgrounds that establishing broad agreement on specific ethical standards can be daunting. In this situation, a given country's _____ provides a solid starting point for examining ethical standards

legal system

Ethics refer to:

sets of beliefs about right and wrong

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

stakeholders

Which of the following statements is true of codes of conduct?

they work best with monitoring

Globalization has made ethics and social responsibility complicated for workers at every level

true

Research from the Ethics Resource Center suggests that _____ has more influence than any other variable on the ethical conduct of individual employees.

organizational culture

The number-one goal of any business is to contribute to society

false

In the context of social responsibility, which of the following is a way of contributing to nonprofits?

cause related marketing

The most socially responsible companies establish _____ for their vendors, setting clear policies for human rights, wages, safety, and environmental impact.

codes of conduct

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

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

______ 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

Codes of conduct work best when people are given the freedom to choose whether they wish to follow them or not

false

In the context of business behavior, producing products that you know will break before their time is illegal and unethical.

false

In the context of the legal and ethical dimensions of business conduct, practicing collusion with competitors is legal but unethical

false

Socially responsible firms support consumer choice by

following the laws that prevent anticompetitive behavior such as monopolies

In the context of codes of ethics, the purpose of a written code is to:

give employees the information they need to make ethical decisions across a range of situations.

In the context of the legal and ethical dimensions of business conduct, embezzling money is

illegal and unethical

In the context of the legal and ethical dimensions of business conduct, rewarding integrity is an example of

legal and ethical

Companies that step in with on-site day care programs for employees facing challenges such as caring for elderly parents are fulfilling their:

social responsibility

The obligation of a business to contribute to society is referred to as _____.

social responsibility

In the context of consumerism, smart businesses view customer complaints as an opportunity to create better products and stronger relationships

true

In the context of ethical behavior, encouraging fraudulent accounting is illegal and unethical.

true

The personal needs, the culture, and the family of an individual influence his or her ethical choices

true