POM chapter 3

Place the following obligations of a corporation (as identified by ________ _ _________) 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

Archie B. Carroll

________ __________ believed that the only corporate social responsibility was to make money for shareholders. This is in stark contrast to modern conceptualizations of corporate social responsibility.

Milton Friedman

A formal set of standards guiding an organization's actions is called a _____. a. code of ethics b. vision statement c. benchmark d. mission statement

a

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 _____. a. insider trading b. whistle blowing c. benchmarking d. fair trade

a

Managers often use a(n) _____ approach when making organizational decisions - using financial performance such as profit as the best definition of what constitutes an ethical choice for the company. a. utilitarian b. individual c. moral-rights d. justice

a

Purchasing _____ items increases the chances that your money will help provide a decent wage for the people who made them. a. fair trade b. organic c. organically sourced d. counterfeit

a

Running a company and protecting the interests of owners and other stakeholders is known as _____. a. corporate governance b. philanthropy c. natural capital d. corporate social responsibility

a

The people inside of an organization who have an important stake in how it performs are the organization's _____ stakeholders. a. internal b. employee c. human d. strategic

a

A company's external environment consists of which two environments? a. general b. task c. internal d. service

a, b

Which of these are forces within an organization's general environment? a. Sociocultural b. Political-Legal c. Technological d. Demographic e. International f. Economic g. Physical

a, b, c, d, e, f

Select all of the statements that accurately represent Hurley's views on the most important crisis in business today. a. in business today, there is a crisis of trust b. ethics are the most important foundation for good business dealings c. companies may think certain organizations are ethical, but that does not mean they should trust them d. we have a crisis of ethics in today's business environment e. what is important is that organizations deliver every day on what they promise

a, c, e

Which of the following aspects of a company's performance are measured by the company's triple bottom line? (Select all that apply.) a. Financial b. Ethical c. Social d. Technological e. Environmental

a, c, e

Millennials in the workforce: (select all that apply) a. expect more from the organizations they do business with b. are more concerned with profit than social responsibility c. want personal success more than they want a happy life d. are concerned about a corporation's ethics, motives, and methods e. want work/life balance f. expect more from the organizations they work for

a, d, e, f

A manager's responsibility to take actions that benefit both society and the business is known as _____ responsibility. a. external b. social c. value d. demographic

b

According to free-market economist Friedman, what is the only social responsibility of a business? a. Being a good global citizen b. Making profits c. Corporate philanthropy d. Environmental sustainability

b

An organization's internal stakeholders consist of a. stockholders with more than a 5% share in the company. b. employees, owners, and the board of directors. c. anyone with an interest in the business, including customers, suppliers, and the local community.

b

An organization's standards of right and wrong that influence employee behavior are referred to as _______. a. rights b. ethics c. unions d. morals

b

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 _______. a. whistle-blowing b. philanthropy c. sustainability d. a code of ethics

b

The act of contributing money in order to benefit society is referred to as _____. a. donation in kind b. philanthropy c. human capital d. globalization

b

Which of the following are true of an ethical dilemma in an organization? (Select all that apply.) a. It always involves the choice to pursue a course of action that is against the law but that is also beneficial to you. b. It forces you to decide whether to pursue a course of action that may be good for you or the company but that is unethical and possibly illegal. c. It often involves choosing between economic performance and social performance.

b, c

What are actions your book suggests that individuals can take to become more ethical consumers? a. buy the lowest-priced items on the shelves b. don't buy knockoff items c. provide your own bags at the grocery store d. purchase fair trade items e. boycott non-organic produce f. don't purchase items that aren't ethically made or sourced

b, c, d, f

A company's triple bottom line represents which three aspects? a. production b. profit c. people d. politics e. privacy f. planet

b, c, f

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. a. social b. sociocultural c. ethical d. economic

c

According to Archie B. Carroll, the responsibilities of an organization can be arranged as a pyramid, with _____ at the base and _____ at the top. a. ethical practices; obeying the law b. corporate citizenship; profit c. making a profit; corporate citizenship d. corporate citizenship; ethical practices

c

According to Fordham professor Hurley, there is not a crisis of ethics in business today but a crisis of _____. a. empathy b. negativity c. trust d. harmony

c

An organization's macroenvironment is also known as its _____ environment. a. external b. internal c. general d. fixed

c

An organization's standards of right and wrong that influence employee behavior are referred to as _______. a. unions b. morals c. ethics d. rights

c

People who buy or sell stock illegally based on confidential company information are engaging in _____. a. natural capital b. whistle-blowing c. insider trading d. clawbacks

c

The eleven groups that present a company with its daily tasks to handle represent the company's _____ environment. a. managerial b. behavioral c. task d. internal

c

The purpose of a code of ethics is to a. benchmark the organization against its ethical competitors b. test employees for integrity and honesty c. clearly state top management's expectations for all employees d. prevent the organization from experiencing clawbacks

c

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 ______. a. association economies of scale b. benchmarking c. corporate social responsibility d. whistle-blowing

c

Which broad term identifies anyone impacted by a business, including but not limited to stockholders, employees, and customers? a. Board of Directors b. Management c. Stakeholders d. Task environment

c

Which generation seems more concerned with finding work/life balance than other generations? a. Gen X b. Baby boomers c. Millennials d. Gen Z

c

Select four groups that make up the task environment. a. Owners b. Board of directors c. Strategic allies d. Government regulators e. Distributors f. Local communities

c, d, e, f

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 _____. a. shareholders b. customers c. base d. stakeholders

d

Corporate _______ is the system of company oversight designed to ensure that the interests of owners and other stakeholders are protected. a. administration b. regulation c. supervision d. governance

d

Major changes in temperature, precipitation, wind patterns, and similar matters occurring over several decades is known as _______. a. the solar effect b. global energy balance c. "going green" d. climate change

d

People who are outside an organization but are still affected by the organization are called the ______. a. internal stakeholders b. owners c. board of directors d. external stakeholders

d

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. a. moral-rights b. individual c. justice d. utilitarian

d

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. a. moral-rights b. justice c. individual d. utilitarian

d

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. a. planetary radiation b. hemispheric cooling c. sustainability d. global warming

d

True or False: Milton Friedman would have been highly supportive of today's notion of corporate social responsibility.

false

True or false: Ethical standards do not vary among countries or cultures.

false

True or false: Unlike generations before them, Millennials have little concern for the environment and are more interested in profit over planet.

false