Question 1

If MKD were to adopt a written code of ethics, what would it include generally?

Accepted Answer

All codes of ethics

Question 2

How often should an organization change its objectives?

Accepted Answer

A)  constantly 
B)  infrequently 
C)  every year 
D)  every decade 
E)  never 
A)  constantly 
B)  infrequently 
C)  every year 
D)  every decade 
E)  never

Question 3

How do organizations exercise social responsibility toward customers?

Accepted Answer

Much of what organizations do to act res

Question 4

Tiffany's Taffy Shop is known for its commitment to corporate social responsibility. However, the owner, Mrs. Wu, has learned that an employee has been unknowingly ordering candy wrappers that are harmful to the environment. How could Mrs. Wu best recover from this ethical lapse?

Accepted Answer

A)  by firing the employee immediately 
B)  by seeking ways to remedy any harm that may have been caused 
C)  by considering ethics training for all employees 
D)  by ordering candy wrappers that are less expensive 
E)  by decreasing the amount of taffy sold 
A)  by firing the employee immediately 
B)  by seeking ways to remedy any harm that may have been caused 
C)  by considering ethics training for all employees 
D)  by ordering candy wrappers that are less expensive 
E)  by decreasing the amount of taffy sold

Question 5

Beautymax's in-house public relations department has been given the task of crisis management for the negative publicity resulting from the skin rashes. The PR department is advocating using impression management strategies to protect the company's image. However, the CEO is arguing for an apology strategy. Which of the following statements, if True, would support the CEO's argument?

Accepted Answer

A)  An expression of innocence, such as "someone else added something to our soap" would be believed by 16 percent of the consumers. 
B)  An excuse, such as "this was a random act committed by a disgruntled employee," would be believed by 32 percent of the consumers. 
C)  "We assume full responsibility and will change our soap formula immediately" would be believed by 34 percent of the consumers. 
D)  "These rashes are exceptions to our high quality standards" would be believed by 21 percent of the consumers. 
E)  A justification, such as "the rashes are minor and resulted from a new addition to our product," would be believed by 17 percent of the consumers. 
A)  An expression of innocence, such as "someone else added something to our soap" would be believed by 16 percent of the consumers. 
B)  An excuse, such as "this was a random act committed by a disgruntled employee," would be believed by 32 percent of the consumers. 
C)  "We assume full responsibility and will change our soap formula immediately" would be believed by 34 percent of the consumers. 
D)  "These rashes are exceptions to our high quality standards" would be believed by 21 percent of the consumers. 
E)  A justification, such as "the rashes are minor and resulted from a new addition to our product," would be believed by 17 percent of the consumers.

Question 6

The mission statement of Coco's Chocolate & Confectioners reveals a primary emphasis on ethical sourcing and procurement. Which action below would the company MOST likely seek to avoid?

Accepted Answer

A)  neglecting the welfare of the region from which it imports cacao beans 
B)  reducing the size of their marketing department 
C)  adding a new line of fat-free confections 
D)  splurging on a company-wide holiday party 
E)  decreasing health care benefits for employees 
A)  neglecting the welfare of the region from which it imports cacao beans 
B)  reducing the size of their marketing department 
C)  adding a new line of fat-free confections 
D)  splurging on a company-wide holiday party 
E)  decreasing health care benefits for employees

Question 7

What must every corporation do in maintaining and reporting its financial status?

Accepted Answer

A)  purchase stocks on margin 
B)  use creative accounting practices 
C)  support increased stock prices 
D)  aim to maximize predicted profit margins 
E)  conform to generally accepted accounting principles 
A)  purchase stocks on margin 
B)  use creative accounting practices 
C)  support increased stock prices 
D)  aim to maximize predicted profit margins 
E)  conform to generally accepted accounting principles

Question 8

A business's social responsibility to investors includes following proper accounting procedures.

Accepted Answer

A) True 
 B)False

Question 9

What might the general public begin to think about MKD's responsibilities toward the environment?

Accepted Answer

MKD's quick response-or lack o

Question 10

Ethical values do not vary from person to person.

Accepted Answer

A) True 
 B)False

Question 11

In the United States, there are increased expectations for a greater social role for business.

Accepted Answer

A) True 
 B)False

Question 12

The public relations department of Pandora has recommended to the CEO that Pandora become involved in cause-related marketing to increase its positive brand image and goodwill for the company. The PR department recommends that the National Heart Association would be a good tie-in for the oatmeal line, and it could emphasize the heart-healthy aspects of the products. The CEO argues that aligning the products with the Heart Association would not be good for Pandora. Which of the following consumer survey results, if True, would support the argument made by the CEO?

Accepted Answer

A)  59 percent indicate that too much publicity about a company's alignment with a charity leads to increased concerns about commercial gain. 
B)  54 percent say they are willing to pay more for a brand that is associated with a cause. 
C)  66 percent indicate they would switch brands to support a particular cause. 
D)  78 percent state they are more likely to purchase a brand associated with a cause that they care about. 
E)  84 percent say that cause-related marketing increases the positive image of a company. 
A)  59 percent indicate that too much publicity about a company's alignment with a charity leads to increased concerns about commercial gain. 
B)  54 percent say they are willing to pay more for a brand that is associated with a cause. 
C)  66 percent indicate they would switch brands to support a particular cause. 
D)  78 percent state they are more likely to purchase a brand associated with a cause that they care about. 
E)  84 percent say that cause-related marketing increases the positive image of a company.

Question 13

What is the purpose of a written code of ethics?

Accepted Answer

A written code of ethics formally announ

Question 14

Which of the following has NOT been identified as a basic consumer right?

Accepted Answer

A)  a right to safe products 
B)  a right to low prices 
C)  a right to be heard 
D)  a right to choose what they buy 
E)  a right to be informed about a product 
A)  a right to safe products 
B)  a right to low prices 
C)  a right to be heard 
D)  a right to choose what they buy 
E)  a right to be informed about a product

Question 15

The standards of behavior that guide managers in their work are called employee ethics.

Accepted Answer

A) True 
 B)False

Question 16

What is it called when two or more firms agree to collaborate on wrongful acts?

Accepted Answer

A)  monopolizing 
B)  consumerism 
C)  collusion 
D)  brokering 
E)  business as usual 
A)  monopolizing 
B)  consumerism 
C)  collusion 
D)  brokering 
E)  business as usual

Question 17

Which of the following steps would be LEAST likely to help a business develop and maintain an ethical environment?

Accepted Answer

A)  Ensure that a mission statement is in place. 
B)  Communicate standards of behavior to all employees. 
C)  Implement ethics training programs. 
D)  Offer orientation programs so that new employees understand the business's ethical standards. 
E)  Trust that management-level employees will act ethically. 
A)  Ensure that a mission statement is in place. 
B)  Communicate standards of behavior to all employees. 
C)  Implement ethics training programs. 
D)  Offer orientation programs so that new employees understand the business's ethical standards. 
E)  Trust that management-level employees will act ethically.

Question 18

Aligning the Pandora brand with a national nonprofit has many benefits. However, the CEO is still not convinced. Which of the following statements, if True, would support the argument made by the CEO to NOT tie sales of Pandora's breakfast oatmeal to the American Heart Association?

Accepted Answer

A)  The move might inspire competitors to seek similar such associations. 
B)  Federal regulation of health-related claims has decreased in recent years. 
C)  Pandora would garner public goodwill for the future. 
D)  Associating with a nonprofit would lead to better relations with governmental agencies. 
E)  If the nonprofit received negative publicity over something, the consumer reaction could have a spillover effect on Pandora. 
A)  The move might inspire competitors to seek similar such associations. 
B)  Federal regulation of health-related claims has decreased in recent years. 
C)  Pandora would garner public goodwill for the future. 
D)  Associating with a nonprofit would lead to better relations with governmental agencies. 
E)  If the nonprofit received negative publicity over something, the consumer reaction could have a spillover effect on Pandora.

Question 19

Identify two arguments against social responsibility as a business goal.

Accepted Answer

Some skeptics of business-sponsored soci

Question 20

What is the term used to describe a situation when increased demand leads to overly steep and often unwarranted price increases?

Accepted Answer

A)  price fixing 
B)  price matching 
C)  price stabilization 
D)  price gouging 
E)  price comparison 
A)  price fixing 
B)  price matching 
C)  price stabilization 
D)  price gouging 
E)  price comparison

If MKD were to adopt a written code of ethics, what would it include generally?

How often should an organization change its objectives?

How do organizations exercise social responsibility toward customers?

Tiffany's Taffy Shop is known for its commitment to corporate social responsibility. However, the owner, Mrs. Wu, has learned that an employee has been unknowingly ordering candy wrappers that are harmful to the environment. How could Mrs. Wu best recover from this ethical lapse?

The mission statement of Coco's Chocolate & Confectioners reveals a primary emphasis on ethical sourcing and procurement. Which action below would the company MOST likely seek to avoid?

What must every corporation do in maintaining and reporting its financial status?

A business's social responsibility to investors includes following proper accounting procedures.

What might the general public begin to think about MKD's responsibilities toward the environment?

Ethical values do not vary from person to person.

In the United States, there are increased expectations for a greater social role for business.

What is the purpose of a written code of ethics?

Which of the following has NOT been identified as a basic consumer right?

The standards of behavior that guide managers in their work are called employee ethics.

What is it called when two or more firms agree to collaborate on wrongful acts?

Which of the following steps would be LEAST likely to help a business develop and maintain an ethical environment?

Aligning the Pandora brand with a national nonprofit has many benefits. However, the CEO is still not convinced. Which of the following statements, if True, would support the argument made by the CEO to NOT tie sales of Pandora's breakfast oatmeal to the American Heart Association?

Identify two arguments against social responsibility as a business goal.

What is the term used to describe a situation when increased demand leads to overly steep and often unwarranted price increases?

The Us Business Environment

Entrepreneurship, New Ventures, and Business Ownership

The Global Context of Business

Business Management

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

Pricing, Distributing, and Promoting Products

Information Technology for Business

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters

Exam 2: Business Ethics and Social Responsibility

If MKD were to adopt a written code of ethics, what would it include generally?

How often should an organization change its objectives?

How do organizations exercise social responsibility toward customers?

Tiffany's Taffy Shop is known for its commitment to corporate social responsibility. However, the owner, Mrs. Wu, has learned that an employee has been unknowingly ordering candy wrappers that are harmful to the environment. How could Mrs. Wu best recover from this ethical lapse?

The mission statement of Coco's Chocolate & Confectioners reveals a primary emphasis on ethical sourcing and procurement. Which action below would the company MOST likely seek to avoid?

What must every corporation do in maintaining and reporting its financial status?

A business's social responsibility to investors includes following proper accounting procedures.

What might the general public begin to think about MKD's responsibilities toward the environment?

Ethical values do not vary from person to person.

In the United States, there are increased expectations for a greater social role for business.

What is the purpose of a written code of ethics?

Which of the following has NOT been identified as a basic consumer right?

The standards of behavior that guide managers in their work are called employee ethics.

What is it called when two or more firms agree to collaborate on wrongful acts?

Which of the following steps would be LEAST likely to help a business develop and maintain an ethical environment?

Aligning the Pandora brand with a national nonprofit has many benefits. However, the CEO is still not convinced. Which of the following statements, if True, would support the argument made by the CEO to NOT tie sales of Pandora's breakfast oatmeal to the American Heart Association?

Identify two arguments against social responsibility as a business goal.

What is the term used to describe a situation when increased demand leads to overly steep and often unwarranted price increases?

The Us Business Environment

Entrepreneurship, New Ventures, and Business Ownership

The Global Context of Business

Business Management

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

Pricing, Distributing, and Promoting Products

Information Technology for Business

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters