Chapter Three Smart Book
Place the following obligations of a corporation (as identified by Carroll) in order, starting with the highest-level responsibility at the top of the list and placing the most fundamental obligation at the bottom of the list.
1. Being a good global corporate citizen.2. Being ethical in its practices.3. Obeying the law.4. Making a profit.
Which are actions to take to increase a focus on the greater good? (Choose every correct answer.)
Fulfill promises. Reduce carbon footprint. Expand knowledge of social inequality.
Select all that apply Which of these are forces within an organization's general environment? Multiple select question. International Physical Technological Political-Legal Demographic Sociocultural Economic
International Technological Political-Legal Demographic Sociocultural Economic
Which of these employees is involved in an ethical dilemma?
Jonah is deciding if he should add two hours to his time sheet for travel to a client meeting because his company does not reimburse for travel time.
Which core competency of career readiness is most closely tied to ethical concerns?
Professionalism/work ethic
Which broad term identifies anyone impacted by a business, including but not limited to stockholders, employees, and customers?
Stakeholders.
Select all that apply Which groups are parts of the task environment? (Choose every correct answer.) Multiple select question. Strategic allies Local communities Distributors Board of directors Government regulators Owners
Strategic allies Local communities Distributors Government regulators
The rise in the average temperature near the Earth's surface due to an increase in greenhouse gases in the atmosphere is called _____ and is one aspect of climate change.
global warming.
People who buy or sell stock illegally based on confidential company information are engaging in _____.
insider trading
As the CEO of a pharmaceutical company, Simone learned that the government was about to block the import of one of the company's biggest-selling drugs. She decides to sell her shares of stock before the information is made public. Since she used confidential information to make her decision, she is guilty of _____.
insider trading.
The ______ approach to solving ethical dilemmas involves ethical behavior being guided by what will result in the greatest good for the greatest number of people.
utilitarian
Which are elements of corporate governance that are tied to ethics? (Choose every correct answer.)
Work environment Accurate reporting Long-term plans
An organization's ethical _____ represents employees' perceptions about the extent to which the work environment supports ethical behavior.
climate
Major changes in temperature, precipitation, wind patterns, and similar matters occurring over several decades is known as _______.
climate change
Which group is projected to make up almost 60% of the workforce by 2029?
Millennials and Gen Zers
How did CEO dismissals related to ethical concerns change between 2008 and 2018?
More CEOs were fired for misconduct.
Today, it is stressed even more that companies go beyond just making a profit and take into consideration the environment and philanthropic initiatives. This is known as practicing ______.
corporate social responsibility.
Running a company and protecting the interests of owners and other stakeholders is known as _____.
corporate governance.
An organization's internal stakeholders consist of
employees, owners, board of directors
An organization's standards of right and wrong that influence employee behavior are referred to as _______.
ethics.
People who are outside an organization but are still affected by the organization are called the ______.
external stakeholders
Purchasing _____ items increases the chances that your money will help provide a decent wage for the people who made them.
fair trade
Vondra believes that if her company created a problem for the local farm community by rationing water supplies, then her company needs to give those farmers grant money so they can get back on their feet. Vondra is advocating _____ corporate social responsibility.
for.
The macroenvironment is also known as the _______ environment.
general.
Corporate _______ is the system of company oversight designed to ensure that the interests of owners and other stakeholders are protected.
governance.
The people inside of an organization who have an important stake in how it performs are the organization's _____ stakeholders.
internal.
According to Archie B. Carroll, the responsibilities of an organization can be arranged as a pyramid, with _____ at the base and _____ at the top.
making a profit; corporate citizenship
The act of contributing money in order to benefit society is referred to as _______.
philanthropy
Target donates millions of dollars each year in education-related grants for arts and cultural experiences, field trips, and reading programs, as well as grants to promote public safety. This is an example of _______.
philanthropy.
A company's triple bottom line represents which aspects? (Choose every correct answer.) Multiple select question. politics profit people privacy production planet
profit people planet
A manager's responsibility to take actions that benefit both society and the business is known as _____ responsibility.
social
When managers use financial performance as the best definition of an ethical choice, they are taking a(n) ______ approach to organizational decisions.
utilitarian.
Select all that apply A company's triple bottom line measures which aspects of its performance? (Choose every correct answer.) Multiple select question. ethical social financial technological environmental
social financial environmental
A company's decision to move its operations out of the country will affect its employees, owners, suppliers, distributors, and everyone else who has an interest in the business. All of these groups together make up the company's _____. Multiple choice question. base
stakeholders.
A company's external environment consists of which two environments?
task general.
The ten groups that present a company with its daily tasks to handle represent the company's _____ environment.
task.
What statement regarding ethical climates is TRUE? Multiple choice question. Managers have little or no effect on the ethical climate in an organization. An ethical climate significantly affects the frequency of ethical behavior. The ethical climate of an organization is unrelated to employees' ethical behavior. Ethical climates are unaffected by an organization's policies, procedures, and practices.
An ethical climate significantly affects the frequency of ethical behavior.
Which are aspects of the professionalism/work ethic core competency that are most relevant to ethics? (Choose every correct answer.)
Ethical behavior Concern for society Demonstrated integrity
True or false: Unlike generations before them, Millennials have little concern for the environment and are more interested in profit over planet.
False
True or false: Ethical standards do not vary among countries or cultures.
False.
According to free-market economist Friedman, what is the only social responsibility of a business?
Making profits.
Select all that apply What are actions your book suggests that individuals can take to become more ethical consumers? (Choose every correct answer.) Multiple select question. boycott non-organic produce buy the lowest-priced items on the shelves don't purchase items that aren't ethically made or sourced provide your own bags at the grocery store purchase fair trade items don't buy knockoff items
don't purchase items that aren't ethically made or sourced provide your own bags at the grocery store purchase fair trade items don't buy knockoff items.
A(n) _____ dilemma is a situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal.
ethical.
Spending time in nature, fostering positive emotions, and reducing one's carbon footprint are strategies to foster a more ______ attitude.
ethical.
