Exam 42: Ethics and Social Responsibility of Business

________ is a moral theory which states that people owe moral duties that are based on universal rules.

Which of the following moral theories lays emphasis on morality based on one's moral duties?

It is never the case that a law may say "no" about a situation, but ethics may say "yes."

Give an account of the relationship between ethics and law.

________ Act is a federal statute that permits private parties to sue companies for fraud on behalf of the government and share in any monetary recovery.

All laws are framed to meet the highest ethical standards.

Which of the following moral theories matches the dictum "I will keep the rules if everyone else does?"

Under the theory of ethical relativism, fairness is considered the essence of justice.

An ethically wrong state or condition can still be legal.

________ is an ethical theory where a person adheres to rules or commands that are from an outside source, like a book or a central figure.

Reversibility is a principle of Kantian ethics which says that ________.

The theory of stakeholder interest compels a corporation to consider the effects of its actions specifically on shareholders.

Gregory, who looks up to the principles of Dr. Martin Luther King Jr. for ethical rules, is an ethical fundamentalist.

A corporation that pollutes a body of water has not met its moral minimum duty of social responsibility even if the business later compensates those whom the pollution has injured.

A social responsibility theory of business which says that a corporation's duty is to make a profit while avoiding causing harm to others is referred to as ________.

According to the theory of ________, if a business corrects the social injury it causes, it has met its duty of social responsibility.

Utilitarianism postulates doing the greatest good for the greatest number of people.

Conch Corporation, a global oil and gas company, has plans to build a subsidized postsecondary vocational school in the town of Cristen, where one of its offices is situated. The plan was put to vote and approved despite some objections from shareholders. The school is being built in collaboration with the local government. The objective is to help the youth of the neighborhood, especially school dropouts, learn vocational skills. What social responsibility theory describes Conch Corporation's initiative to build the school?

Which of the following is a perceived disadvantage of Rawls's social justice theory?

ULab Inc., a biotechnology firm, recently had a fire in one of its offices, which resulted in the office building being fire gutted. The employees were not trained through fire drills, and the 10-story building had no fire escape route. Consequently, many employees were hospitalized for physical injuries, burns, and toxic smoke inhalation. What important social responsibility theory was ULab negligent of by not training its employees through fire drills and not installing a fire exit?