CHAPTER 2: BUSINESS PRINCIPLES

Which of the following statements reflects the socioeconomic model of social responsibility?

"We will now allow our motion pictures to be shown in any movie house in South Africa unless it is fully integrated." - the president of United International Pictures Corporation

a government agency with the power to investigate complaints of employment discrimination and the power to sue firms that practice it

equal employment

In the United States, bribes are

unethical

perspective that what is moral comes from what a mature person with "good" moral character would deem right

virtue ethics

Stanley, a bank manager, holds the economic model of social responsibility view. What is he most likely to say about the connection between taxes and social responsibility?

By making a profit and paying taxes that meet the needs of society, Stanley has fulfilled his social responsibility.

What is probably the most effective way for a company to encourage ethical behavior?

Develop and enforce a written code of ethics for the organization

Which of the following accurately describes the objective of affirmative action?

If 25 percent of the engineers in the local area African American, then a company should have about 25 percent African American employees on its engineering staff.

The socioeconomic model of social responsibility places primary emphasis on

Quality of life

Which of the following scenarios provides the best example of whistle-bowing?

Rachel has grown tired of her company's unsafe practices and reports them to OSHA, a governmental agency that regulates safety.

A social audit is a

Report of what a business has done and is doing about social issues

Ethics is the study of right and wrong and of the morality of the choices we make

True

Hard-core unemployment are workers with little education or vocational training and a long history of unemployment

True

The Sarbanes-Oxley Act of 2002 gives those who report corporate misconduct sweeping new legal protection

True

a Latin phrase meaning "let the buyer beware"

caveat emptor

a guide to acceptance and ethical behavior as defined by the organization

code of ethics

morality of an action is contingent on the action's outcome or result. thus, a morally right action is one that produces a good outcome

consequentialism/utillitarian

Investors expect management to do all of the following except

consult them on ethical decisions

adopting a strategic approach to fulfilling economics, ethical, environmental, and social responsibilities

corporate citizen

rationally necessary and unconditional principle that we must always follow despite any natural desires or inclinations we may have to the contrary

dentological/categorical imperative

Legislation requires that all non-salaried employees who work more than 40 hours a week be paid over-time for the week. This legislation is an example of

government's role in encouraging ethics

Workers with little education or vocational training and a long history of unemployment

hard-core unemployment

Caveat emptor

is a Latin phrase meaning "let the buyer beware"

Social responsibility

is costly but provides tremendous benefits to society and the business

Business Ethics

is the application of moral standards to business situations.

knowingly taking someone else's words, ideas, or other original material without acknowledging the source

plagiarism

A whistle blower is a person who

reports illegal or unethical conduct within his or her organization.

The economic model of social responsibility was developed in a period when the primary concern of firms was

short-run profits and survival

Mark Zuckerberg's Internet.org program that helps bring internet access to under served communities in various parts of the world is an example of

social responsibility

One problem affirmative action programs have encountered is

that not all business people favor such programs