Exam 2: Business Ethics and Social Responsibility

There is strong evidence that ethical behavior pays off financially for businesses.

Unethical behavior in an organization can create:

Acme Widgets donates $1.00 from each sale of its Super Widget to the World Food Bank.This action illustrates:

Wever,Inc.is considering relocating a facility to Mexico.The interests of the various stakeholders affected by this decision may conflict.

Zeno,Inc.is considering relocating its manufacturing facility from Illinois to Mexico City.The stakeholders in this decision might include:

Many of America's largest consumer product companies,such as Wal-Mart,Nike,and Land's End,buy fabric produced in China by Fountain Set Holdings Ltd.Chinese government investigators recently discovered that Fountain Set has contaminated a local river by dumping dye waste into it.What responsibility do U.S.companies have to ensure safe environmental practices by overseas suppliers?

Ethics is the study of:

Lois is running for political office.She trails the incumbent and decides to start running a series of "attack ads." The attack ads are very effective and one week before the election it appears that she has drawn even with her opponent.Lois admits that the attack ads were exaggerations and contained some distortions.Which statement is correct?

Researchers who study happiness find that people expect material goods to make them happier than they actually do.

Ethics is the study of how people should act.

Ethical companies:

Oxtron,Inc.arranged for two employees,Kaiya and Gary,to attend "The Business Ethics 2008 Conference:Maintaining Credibility" in New York City.Although Gary goes to New York,he does not participate in the conference.Instead,he takes in the local attractions.Kaiya fully participated in the conference.Using ethical standards,describe what Kaiya should do about Gary's failure to participate in the conference.

Li is the vice president of marketing for Felson,Inc. ,a manufacturer of children's clothing Felson is considering building a factory in a developing country,where there are few restrictions on working conditions,wages,or maximum work hours.Which viewpoint:utilitarian or deontological would support this move? Why?

Warren Buffet is quoted as saying,"The five most dangerous words in business may be:

Life Principles are set by your parents and do not change over time.

Why should ethics be a concern to business?

Lying is always considered unethical,even if it seems to be justified by the ends.

Nortron Corporation wants to create an ethical environment in its company.Which of the following has been found to help foster a sense of ethics within an organization?

John discovered his company's accountant was "skimming" money from the business.The accountant agreed to pay John a one-time payment of $25,000 not to report the skimming to company officials.The accountant promised she would pay the money back when she could.John accepted the money and never reported what he knew.A year later the accountant was fired when the embezzlement was discovered.She was also prosecuted for theft.The payment to John was never discovered.Which statement is correct?

The Chief Executive Officer of Ticor,Inc.must decide about the disposal of toxic waste materials.Which of the following considerations should help the CEO reach an ethical business decision?