MGMT 320 Midterm Practice
Who wrote the "Invisible Hand" about collective good society
Adam Smith
A society that has its economic, political, and cultural values based on agriculture is called:
Agrarian
Core compoenets upon which a company ethical performance depends include:
All above
Effect public affairs function must
All of the above
The reason behind the unceartanity of an ethical questions are that different people and groups
All of the above
Which of the following would be a valid criterion for making ethical decisions?
All of the above
Stakeholder is defined as
An entity that is either burdened or benefited by the actions of the organization
When a group of consumers places pressure on a company to make efforts to reform its policies by refusing to buy this company's products, this is called:
Boycott
Early issues identification enables a company to do which if the following:
Build political capital before it is needed
Examples of illegal business include:
CEO telling someone to invest day before high numbers released
An economy with private indv. and corporations own the methods of production and compete in a free market is:
Capitalism
Stakeholders have been bale to form international coalitiions more successfully through the use of
Communications technology
The idea that a retail shop owner should pay damages to a customer who was hurt inside the store is consistent with which ethical principle?
Compensatory Justice
What led companies to create spealized staff to manage external affairs?
Complex relationships between organization and their stakeholders
Customer environmental intelligence includes:
Demographic factors
Which argument calls stakeholder management a practical matter which realistically depicts how companies really work?
Descriptive Argument
Cross-cultural contradicitons arise due to
Differences between home and host countrie's ethical standards
The ideas that pay raises should be based on objective performance criteria instead of the "buddy" system, is a fundamental principle in which ethical principle?
Distributive Justice
(T/F): A public issue exists when there is a agreement between stakeholder's expectations of what an institution should do and the actual performance
False
(T/F): Businesses and society are independent of each other
False
(T/F): Ethics are always based on religious beliefs
False
(T/F): Kohlberg's 6 Stages of morality and ethical judgment are the best approach to figure out ethical and unethical decisions:
False
(T/F): Only the CEO's spiritual perspective should be taken into account
False
(T/F): Respecting others, except those with whom we disagree with is the essence of ethical rights reasoning:
False
(T/F): Socialism accepts only the basic values of capitalism
False
(T/F): The US constitution discourages pluralism
False
(T/F): The idea of a classesles society in which property is owned collectively by the people is a basic tenant of democracy
False
(T/F): Trade Liberalization occurs when nations promote trade by easing tariff restrictions but not non-tariff restrictions
False
(T/F)The vast majority of the poor people on earth live in economies that have been transformed by industrial growth
False
The idea that sole responsibility of a business is to maximize profits while acting within the law is afundamental tenet in:
Friedmanism
The study of phenomenon that move through time is called:
History
A stakeholder analysis:
Involves understanding the nature of stakeholder's interests.
The components of a typical issue management cycle include
Issue Identification, research, policy options, selection stratedgy, program decision, implentation
The rightful use of business power is called
Legitimacy
What stakeholder groups can exercise legal power?
Lots: Employees, Customers, and Shareholders
When a manager makes ethical deicisons based on what he feels he can get away with given his level of power, he is using which ethical principle?
Mights-equals-right ethic
When a society is ruled by people who are wealthy it is called:
Plutocracy
The ability of business to influence government is called:
Political Power
People everywhere depend on ethical systems to tell them whether their actions are:
Right or Wrong
According to Kohlberg's which is moral reasoning found in children?
Scratch my back and I'll scratch yours
A giant step is take toward improving ethical performance throughout the company when:
Senior-level managers signal to employees that they believe ethics is of high priority
The fiduciary duty of managers is to benefits a firm's:
Stockholders, Customers, Employees
Do unto others as you would done unto you is the basic premise in which ethical principle?
The Golden Rule
In considering whether or not to do a certain action based on ethical reasoning, when the manager asks herself, "If I act in this way, would my family approve of my actions?" she is applying which principle?
The Others test
(T/F): A social contract between business and society gives this relationship a moral basi for the operation
True
(T/F): All societies have mechanisms to control power
True
(T/F): BSG is the study of business, government, and society and its importance to managers
True
(T/F): Business managers should use all three methods of ethical reasoning: utility, rights, and justice to better understand ethical work
True
(T/F): Changes in the business environment can sometimes result from unknown and unpredictable causes
True
(T/F): Economic activity is a geophysical force in the society
True
(T/F): Ethical Ideas are present in all societies, organizations, and poeple
True
(T/F): Human rights issues have become more prominent and important for businesses
True
(T/F): Increases in business mergers are cuases by changes in the economic environment of the society that creates incentives to combine businesses
True
(T/F): On a deep level, corporate power creates many indirect effects on the society in which it operates
True
(T/F): Stakeholders involved with one part of a company often may have little or no involvement in another part of the company
True
(T/F): The Sarbanes-Oxley act requires a firm to maintain high ethical standards in how they conduct and monitor business operations
True
(T/F): The doctrine of the mean in ethics is a fundamental teaching of Aristotle.
True
(T/F): The force behind a company's actions is called its power
True
(T/F): The modern nation-state aros eout of the ruin of the Roman Empire
True
(T/F):The general public generally believe that a business has social responsibilities beyond merely making a profit
True
The public affairs managers would be in:
Upper level management, senior mangement
Applying method of ethical reasoning to a situation might
lead to an incomplete understanding of the matter
Entities that have a relationship with a corporation in such a way that they are affected immediately and powerfully by the actions of the corportation are called the:
primary stakeholders
The idea that hard work and acting in a virtuous manner will results in approval from God is called
the Protestant Ethic
The purpose of the US foreign Corrupt Practices act is:
to prevent bribery and other legally questionable payments
An enduring belief about what important choices in how we live are :"correct" is called a(n):
value
