Question 1

Identify two arguments against social responsibility as a business goal.

Accepted Answer

Some skeptics of business-sponsored soci

Question 2

What category of ethics relates to matters such as hiring, firing, working conditions, privacy and respect?

Accepted Answer

A)  Behavior toward economic agents 
B)  Behavior toward employees 
C)  Behavior toward the organization 
D)  Elimination of conflicts of interest 
E)  Social responsibility 
A)  Behavior toward economic agents 
B)  Behavior toward employees 
C)  Behavior toward the organization 
D)  Elimination of conflicts of interest 
E)  Social responsibility

Question 3

What are individual beliefs about what is right and wrong or good and bad referred to as?

Accepted Answer

A)  Motivators 
B)  Rules 
C)  Cultures 
D)  Ethics 
E)  Laws 
A)  Motivators 
B)  Rules 
C)  Cultures 
D)  Ethics 
E)  Laws

Question 4

When businesses work to honor warranties, charge fair prices and stand behind the quality of their products, what stakeholder group are they supporting?

Accepted Answer

A)  Customers 
B)  Employees 
C)  Investors 
D)  Suppliers 
E)  Local communities 
A)  Customers 
B)  Employees 
C)  Investors 
D)  Suppliers 
E)  Local communities

Question 5

What concept is supported by those who believe that corporations should help improve the lives of citizens?

Accepted Answer

A)  Social auditing 
B)  Government initiative 
C)  Collusion 
D)  Social responsibility 
E)  Social accommodation 
A)  Social auditing 
B)  Government initiative 
C)  Collusion 
D)  Social responsibility 
E)  Social accommodation

Question 6

What is the most common and direct way to provide direct financial support when taking a proactive stance to social responsibility?

Accepted Answer

A)  Set up a foundation 
B)  Reduce prices 
C)  Make a donation with each purchase 
D)  Use the Internet to solicit donations 
E)  Follow all laws set forth by the government 
A)  Set up a foundation 
B)  Reduce prices 
C)  Make a donation with each purchase 
D)  Use the Internet to solicit donations 
E)  Follow all laws set forth by the government

Question 7

When a firm increases the price of a good or service because of an increase in demand, what unethical practice are they potentially engaging in?

Accepted Answer

A)  Consumerism 
B)  Collusion 
C)  Unfair pricing 
D)  Collaboration 
E)  Price gouging 
A)  Consumerism 
B)  Collusion 
C)  Unfair pricing 
D)  Collaboration 
E)  Price gouging

Question 8

Most firms use outside auditors to conduct their social audit.

Accepted Answer

A) True 
 B)False

Question 9

Ethics are beliefs about what is right and wrong.

Accepted Answer

A) True 
 B)False

Question 10

The most essential ingredient in encouraging ethical behavior in an organization is letting employees dictate ethical norms.

Accepted Answer

A) True 
 B)False

Question 11

Ethical issues are generally based on what?

Accepted Answer

A)  Social responsibility 
B)  Individual ethics 
C)  Laws 
D)  Societal norms 
E)  Stakeholder returns 
A)  Social responsibility 
B)  Individual ethics 
C)  Laws 
D)  Societal norms 
E)  Stakeholder returns

Question 12

The Consumer Bill of Rights is backed by numerous federal and state laws.

Accepted Answer

A) True 
 B)False

Question 13

What is the practice of injecting water and chemicals into underground rock in order to break the rock apart called?

Accepted Answer

A)  Recycling 
B)  Toxic waste elimination 
C)  Fracking 
D)  Zero-landfill support 
E)  Repurposing 
A)  Recycling 
B)  Toxic waste elimination 
C)  Fracking 
D)  Zero-landfill support 
E)  Repurposing

Question 14

What does the Sarbanes-Oxley Act of 2002 require a chief financial officer to do?

Accepted Answer

A)  Prevent insider trading 
B)  Engage in strategic management 
C)  Guarantee the accuracy of financial reporting 
D)  Hire a forensic accountant 
E)  Oversee the implementation of ethical standards 
A)  Prevent insider trading 
B)  Engage in strategic management 
C)  Guarantee the accuracy of financial reporting 
D)  Hire a forensic accountant 
E)  Oversee the implementation of ethical standards

Question 15

Describe the stakeholder model of social responsibility.

Accepted Answer

Companies that strive to be responsible

Question 16

A company that does not act responsibly toward its customers may lose their trust and ultimately their business.

Accepted Answer

A) True 
 B)False

Question 17

What is the main cause of water pollution?

Accepted Answer

A)  Acid rain 
B)  Landfill runoff 
C)  Chemical and waste dumping 
D)  Vehicle exhaust 
E)  Decomposition 
A)  Acid rain 
B)  Landfill runoff 
C)  Chemical and waste dumping 
D)  Vehicle exhaust 
E)  Decomposition

Question 18

When a stakeholder uses confidential information to gain from the sale or purchase of a stock, what ethical violation are they engaging in?

Accepted Answer

A)  Whistle-blowing 
B)  Insider training 
C)  Social accommodation 
D)  Collusions 
E)  Gouging 
A)  Whistle-blowing 
B)  Insider training 
C)  Social accommodation 
D)  Collusions 
E)  Gouging

Question 19

What type of organizations are used to solicit money that then is distributed to political candidates?

Accepted Answer

A)  Lobbies 
B)  Government agencies 
C)  Stakeholders 
D)  Ethical compliance leaders 
E)  Political action committees 
A)  Lobbies 
B)  Government agencies 
C)  Stakeholders 
D)  Ethical compliance leaders 
E)  Political action committees

Question 20

When a multinational organization supports its commitment to stakeholders, which stakeholders are they most concerned with?

Accepted Answer

A)  The stakeholders in their home country 
B)  The stakeholders where most sales are made 
C)  The stakeholders in emerging markets 
D)  The stakeholders represented by the government 
E)  The stakeholders in every country where business is done 
A)  The stakeholders in their home country 
B)  The stakeholders where most sales are made 
C)  The stakeholders in emerging markets 
D)  The stakeholders represented by the government 
E)  The stakeholders in every country where business is done

Identify two arguments against social responsibility as a business goal.

What category of ethics relates to matters such as hiring, firing, working conditions, privacy and respect?

What are individual beliefs about what is right and wrong or good and bad referred to as?

When businesses work to honor warranties, charge fair prices and stand behind the quality of their products, what stakeholder group are they supporting?

What concept is supported by those who believe that corporations should help improve the lives of citizens?

What is the most common and direct way to provide direct financial support when taking a proactive stance to social responsibility?

When a firm increases the price of a good or service because of an increase in demand, what unethical practice are they potentially engaging in?

Most firms use outside auditors to conduct their social audit.

Ethics are beliefs about what is right and wrong.

The most essential ingredient in encouraging ethical behavior in an organization is letting employees dictate ethical norms.

Ethical issues are generally based on what?

The Consumer Bill of Rights is backed by numerous federal and state laws.

What is the practice of injecting water and chemicals into underground rock in order to break the rock apart called?

What does the Sarbanes-Oxley Act of 2002 require a chief financial officer to do?

Describe the stakeholder model of social responsibility.

A company that does not act responsibly toward its customers may lose their trust and ultimately their business.

What is the main cause of water pollution?

When a stakeholder uses confidential information to gain from the sale or purchase of a stock, what ethical violation are they engaging in?

What type of organizations are used to solicit money that then is distributed to political candidates?

When a multinational organization supports its commitment to stakeholders, which stakeholders are they most concerned with?

The U.S. Business Environment

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters

Exam 2: Understanding Business Ethics and Social Responsibility

Identify two arguments against social responsibility as a business goal.

What category of ethics relates to matters such as hiring, firing, working conditions, privacy and respect?

What are individual beliefs about what is right and wrong or good and bad referred to as?

When businesses work to honor warranties, charge fair prices and stand behind the quality of their products, what stakeholder group are they supporting?

What concept is supported by those who believe that corporations should help improve the lives of citizens?

What is the most common and direct way to provide direct financial support when taking a proactive stance to social responsibility?

When a firm increases the price of a good or service because of an increase in demand, what unethical practice are they potentially engaging in?

Most firms use outside auditors to conduct their social audit.

Ethics are beliefs about what is right and wrong.

The most essential ingredient in encouraging ethical behavior in an organization is letting employees dictate ethical norms.

Ethical issues are generally based on what?

The Consumer Bill of Rights is backed by numerous federal and state laws.

What is the practice of injecting water and chemicals into underground rock in order to break the rock apart called?

What does the Sarbanes-Oxley Act of 2002 require a chief financial officer to do?

Describe the stakeholder model of social responsibility.

A company that does not act responsibly toward its customers may lose their trust and ultimately their business.

What is the main cause of water pollution?

When a stakeholder uses confidential information to gain from the sale or purchase of a stock, what ethical violation are they engaging in?

What type of organizations are used to solicit money that then is distributed to political candidates?

When a multinational organization supports its commitment to stakeholders, which stakeholders are they most concerned with?

The U.S. Business Environment

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters