Exam 2: Business Ethics and Social Responsibility

The practice of greenwashing is socially responsible.

In maintaining and reporting its financial status,every corporation must conform to ________.

Briefly describe an issue of managerial ethics relating to behavior toward employees.

Acme Inc.meets is legal and ethical requirements.In addition,Acme donates $50,000 per year to local charities when asked.Which of the following approaches is being taken?

Wilson Products has installed a low-quality fire alarm in its facility in compliance with local regulations.Don Wilson,the owner,stated,"We've never needed such a system.I didn't want to pay too much for this one." Which of the following stances is being taken?

There is general consensus within the United States that social responsibility must take precedence over profits.

What is whistle-blowing?

What constitutes ethical behavior is determined entirely by the individual.

Which of the following is NOT a step mentioned by the authors of your textbook to foster a company wide sense of social responsibility?

The ethical norm of ________ considers if all relevant parties receive equally useful benefits.

Greenwashing is using false advertising by pushing the truth to the limit.

Save-a-Bunch Hardware has doubled its prices for plywood and other building supplies after a tornado strikes the area.Save-a-Bunch Hardware is likely guilty of ________.

In maintaining and reporting its financial status,every corporation must ________.

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

The highest degree of social responsibility that a firm can exhibit is the ________ stance.

Social responsibility must start at the top of the organization.

The standards of behavior that guide individual managers in their work is called managerial ethics.

In recent years,there have been fewer concerns about ethics in advertising.

Short Case Scenario 2-1 MKD Transportation owns and operates a fleet of container ships and tankers that transport goods around the globe. Company executives have just been contacted by the media with a credible report that one of their ships is leaking an oily substance off the coast of Belize. If true, some of the world's most beautiful coral reefs could be in danger. On the other hand, the captain of the ship in question has not notified the company of any problem, and cleanup could be very costly. Environmental groups and the government of Belize have demanded that the company admit responsibility and immediately begin cleanup. -In an attempt to act socially responsibly toward investors,on what might MKD focus?

What are the four basic consumer rights first identified by President John F.Kennedy and now backed by numerous federal and state laws?