Exam 5: Managing Ethics and Social Responsibility

Explain the differences between principle-based statements and policy-based statement in an organization's code of ethics.

Important stakeholders in corporations include the government and the community.

The virtue ethics approach to ethical decision making sidesteps debates about what is right, good, or just and bases decisions on prevailing standards of the profession and the larger society, taking the interests of all stakeholders into account.

A new drug has not been approved by the FDA to sell in the U.S. because further testing is needed. The company has a chance to sell its product in another country immediately to start recovering the costs of R & D and production three years ahead of time. This example places the decision in which of the categories from the text?

All stakeholders of an organization are its stockholders but not all stockholders are its stakeholders.

The moral agent is an individual who must make an ethical choice in an organization.

_____ matches with the preconventional level of personal moral development.

The _____ approach asserts that human beings have fundamental rights and liberties that cannot be taken away by an individual's decision.

List the four responsibilities of corporate social performance.

_____ responsibility is purely voluntary and guided by a company's desire to make social contributions not mandated by economics, law, or ethics.

_____ leadership matches with the postconventional level of personal moral development.

_____ justice argues that individuals should be compensated for the cost of their injuries by the party responsible.

Robbie's Robots decided to continue operations at one plant while shutting down another. The decision was justified on the basis of what was best for the total corporation. This is an example of the:

A recent poll found that _____ percent of people surveyed say corporate America's moral compass is pointing in the wrong direction.

Human beings have fundamental rights and liberties that cannot be taken away by another individual's decision. This ethical decision making approach is known as the:

Regarding the levels of personal moral development, the majority of managers operate at the _____ level.

Statements that define fundamental values and reference organizational responsibilities, products and employees are often called _____.

The relationship between social responsibility and financial performance has been shown to be _____.

Social responsibility covers a narrow range of issues, many of which are unambiguous with respect to right or wrong.

Organizations that are _____ responsible consider the effects of their actions on all stakeholder groups and may invest in a number of philanthropic causes that benefit stakeholders.