Question 1

Milton Snoeyenbos argues that

Accepted Answer

A) settled economic life requires purely selfish behavior. 
B) with ethical codes,there's no need for taxes,laws,or regulations as a way of controlling corporate behavior. 
C) Corporate moral codes can make it more reasonable to expect employees to behave ethically. 
D) to be viable,ethical codes need not be widely accepted or part of corporate culture. 
A) settled economic life requires purely selfish behavior. 
B) with ethical codes,there's no need for taxes,laws,or regulations as a way of controlling corporate behavior. 
C) Corporate moral codes can make it more reasonable to expect employees to behave ethically. 
D) to be viable,ethical codes need not be widely accepted or part of corporate culture.

Question 2

Some argue for the narrow view of corporate social responsibility on the ground that managers have a fiduciary responsibility to maximize the profits of their shareholders.As discussed in Chapter 5,one problem with this argument is that

Accepted Answer

A) companies do not usually have a clear chain of command. 
B) promises don't override all our other obligations. 
C) managers don't always know how to maximize profits. 
D) stockholders don't expect company managers to make money for them. 
A) companies do not usually have a clear chain of command. 
B) promises don't override all our other obligations. 
C) managers don't always know how to maximize profits. 
D) stockholders don't expect company managers to make money for them.

Question 3

The "rules of the game" for corporate work are intended to

Accepted Answer

A) let the games begin. 
B) promote open and free competition. 
C) destroy the competition. 
D) make business fun. 
A) let the games begin. 
B) promote open and free competition. 
C) destroy the competition. 
D) make business fun.

Question 4

Most business observers agree with Berle and Means that,because stock ownership in large corporations is so dispersed,actual control of the corporation has passed to management.

Accepted Answer

A) True 
 B)False

Question 5

Momentum for the corporate organization of business really gained momentum after which war?

Accepted Answer

A) Revolutionary War 
B) French and Indian War 
C) Civil War 
D) World War I 
A) Revolutionary War 
B) French and Indian War 
C) Civil War 
D) World War I

Question 6

Briefly explain Milton Friedman's view of social responsibility.

Accepted Answer

Milton Friedman's view of social respons

Question 7

Milton Friedman argues that business has a responsibility to provide employment,refrain from polluting,and eliminate discrimination,even when it's not profitable to do so.

Accepted Answer

A) True 
 B)False

Question 8

The idea that corporations are moral agents

Accepted Answer

A) is accepted by many people and companies without hesitation. 
B) has not been accepted by the courts. 
C) has not been accepted by any major corporation. 
D) is supported by the fiduciary relationship between management and shareholders. 
A) is accepted by many people and companies without hesitation. 
B) has not been accepted by the courts. 
C) has not been accepted by any major corporation. 
D) is supported by the fiduciary relationship between management and shareholders.

Question 9

Which of the following contributed to the more relaxed incorporation procedures of modern times?

Accepted Answer

A) The idea that incorporation is a by-product of the people's right to associate,not a gift from the state. 
B) The move from mercantilist thinking to a belief in Benjamin Franklin's invisible hand. 
C) The idea that incorporation is a gift from the state. 
D) The thought that laissez-faire is a losing proposition. 
A) The idea that incorporation is a by-product of the people's right to associate,not a gift from the state. 
B) The move from mercantilist thinking to a belief in Benjamin Franklin's invisible hand. 
C) The idea that incorporation is a gift from the state. 
D) The thought that laissez-faire is a losing proposition.

Question 10

The statement that accurately describes corporations is

Accepted Answer

A) corporate shareholders have limited liability for their debts. 
B) corporations must be "publicly held" and thus traded on the stock market. 
C) corporations are always for-profit. 
D) corporate shareholders are immediately entitled to any profits. 
A) corporate shareholders have limited liability for their debts. 
B) corporations must be "publicly held" and thus traded on the stock market. 
C) corporations are always for-profit. 
D) corporate shareholders are immediately entitled to any profits.

Question 11

According to Milton Friedman,business has no social responsibilities other than to maximize profits so long as it follows the rules of the game.

Accepted Answer

A) True 
 B)False

Question 12

Milton Friedman's perspective is that the only social responsibility of a business is to

Accepted Answer

A) provide social benefit for the messes. 
B) give jobs to the hard workers. 
C) pay taxes to keep the government operating. 
D) make money for its owners. 
A) provide social benefit for the messes. 
B) give jobs to the hard workers. 
C) pay taxes to keep the government operating. 
D) make money for its owners.

Question 13

Describe the ethical challenges that Yahoo faces in the China market.

Accepted Answer

Yahoo faces several ethical challenges i

Question 14

Those with a broader view concerning business obligations believe that with power comes

Accepted Answer

A) more power. 
B) more money. 
C) too many limits. 
D) social responsibility. 
A) more power. 
B) more money. 
C) too many limits. 
D) social responsibility.

Question 15

According to Kenneth Arrow,trust and confidence are highly overrated in business.

Accepted Answer

A) True 
 B)False

Question 16

Externalities are the unintended negative (or in some cases positive) consequences that an economic transaction between two parties can have on some third party.

Accepted Answer

A) True 
 B)False

Question 17

Corporate internal decision (CID) structures amount to established procedures for accomplishing specific goals.

Accepted Answer

A) True 
 B)False

Question 18

According to proponents of broadening corporate responsibility,corporations should welcome the outside opinions of society as a whole,local communities,customers,suppliers,employees,managers,and stockholders.

Accepted Answer

A) True 
 B)False

Question 19

Is Levi Strauss really hurting the people of Costa Rica by opening the operation there? List the pros and cons.

Accepted Answer

The question of whether Levi Strauss is

Question 20

"Limited liability" means that members of a corporation are financially liable for corporate debts only up to the extent of their investments.

Accepted Answer

A) True 
 B)False

Milton Snoeyenbos argues that

Some argue for the narrow view of corporate social responsibility on the ground that managers have a fiduciary responsibility to maximize the profits of their shareholders.As discussed in Chapter 5,one problem with this argument is that

The "rules of the game" for corporate work are intended to

Most business observers agree with Berle and Means that,because stock ownership in large corporations is so dispersed,actual control of the corporation has passed to management.

Momentum for the corporate organization of business really gained momentum after which war?

Briefly explain Milton Friedman's view of social responsibility.

Milton Friedman argues that business has a responsibility to provide employment,refrain from polluting,and eliminate discrimination,even when it's not profitable to do so.

The idea that corporations are moral agents

Which of the following contributed to the more relaxed incorporation procedures of modern times?

The statement that accurately describes corporations is

According to Milton Friedman,business has no social responsibilities other than to maximize profits so long as it follows the rules of the game.

Milton Friedman's perspective is that the only social responsibility of a business is to

Describe the ethical challenges that Yahoo faces in the China market.

Those with a broader view concerning business obligations believe that with power comes

According to Kenneth Arrow,trust and confidence are highly overrated in business.

Externalities are the unintended negative (or in some cases positive) consequences that an economic transaction between two parties can have on some third party.

Corporate internal decision (CID) structures amount to established procedures for accomplishing specific goals.

According to proponents of broadening corporate responsibility,corporations should welcome the outside opinions of society as a whole,local communities,customers,suppliers,employees,managers,and stockholders.

Is Levi Strauss really hurting the people of Costa Rica by opening the operation there? List the pros and cons.

"Limited liability" means that members of a corporation are financially liable for corporate debts only up to the extent of their investments.

The Nature of Morality

Normative Theories of Ethics

Justice and Economic Distribution

The Nature of Capitalism

Consumers

The Environment

The Workplace 1: Basic Issues

The Workplace 2: Todays Challenges

Moral Choices Facing Employees

Job Discrimination

Filters

Exam 5: Corporations

Milton Snoeyenbos argues that

Some argue for the narrow view of corporate social responsibility on the ground that managers have a fiduciary responsibility to maximize the profits of their shareholders.As discussed in Chapter 5,one problem with this argument is that

The "rules of the game" for corporate work are intended to

Most business observers agree with Berle and Means that,because stock ownership in large corporations is so dispersed,actual control of the corporation has passed to management.

Momentum for the corporate organization of business really gained momentum after which war?

Briefly explain Milton Friedman's view of social responsibility.

Milton Friedman argues that business has a responsibility to provide employment,refrain from polluting,and eliminate discrimination,even when it's not profitable to do so.

The idea that corporations are moral agents

Which of the following contributed to the more relaxed incorporation procedures of modern times?

The statement that accurately describes corporations is

According to Milton Friedman,business has no social responsibilities other than to maximize profits so long as it follows the rules of the game.

Milton Friedman's perspective is that the only social responsibility of a business is to

Describe the ethical challenges that Yahoo faces in the China market.

Those with a broader view concerning business obligations believe that with power comes

According to Kenneth Arrow,trust and confidence are highly overrated in business.

Externalities are the unintended negative (or in some cases positive) consequences that an economic transaction between two parties can have on some third party.

Corporate internal decision (CID) structures amount to established procedures for accomplishing specific goals.

According to proponents of broadening corporate responsibility,corporations should welcome the outside opinions of society as a whole,local communities,customers,suppliers,employees,managers,and stockholders.

Is Levi Strauss really hurting the people of Costa Rica by opening the operation there? List the pros and cons.

"Limited liability" means that members of a corporation are financially liable for corporate debts only up to the extent of their investments.

The Nature of Morality

Normative Theories of Ethics

Justice and Economic Distribution

The Nature of Capitalism

Consumers

The Environment

The Workplace 1: Basic Issues

The Workplace 2: Todays Challenges

Moral Choices Facing Employees

Job Discrimination

Filters