Ch. 2 – Being Ethical and Socially Responsible – Flashcards
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An application of moral standards to business situations
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business ethics
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Provides legal protection for employees who report corporate misconduct
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Sarbanes-Oxley Act of 2002
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A guide to acceptable and ethical behavior as defined by the organization
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code of ethics
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All activities undertaken to protect the rights of consumers
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consumerism
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Informing the press or government officials about unethical practices within one's organization
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whistle-blowing
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A Latin phrase meaning "let the buyer beware"
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caveat emptor
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A racial, religious, political, national, or other group regarded as different from the larger group of which it is a part
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minority
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A plan designed to increase the number of minority employees at all levels within an organization
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affirmative action program
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Workers with little education or vocational training and a long history of unemployment
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hard-core unemployed
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The contamination of water, air, or land
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pollution
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T/F The field of business ethics applies moral standards to business situations
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True
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T/F Business ethics rarely involves the application of moral standards to the business activity of a normal company
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False
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T/F The economic model of social responsibility emphasizes the effect of business decisions on society
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False
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T/F Consumerism consists of all activities undertaken to protect the rights of consumers
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True
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T/F Manufacturers are not required by law to inform consumers about the potential dangers of using their products
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False
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T/F Affirmative-action plans encompass all areas of human resources management, including recruiting, hiring, training, promotion, and pay
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True
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T/F Hard-core unemployed workers are those with little education or vocational training
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True
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T/F The EPA was created by the government to develop new improved ways to clean and improve the environment
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False
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T/F Consumers will probably pay in large part for cleaning up our environment through increased taxes or increased product cost
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True
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T/F A key step in developing and implementing a social responsibility program is the environmental audit
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False
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Business ethics a. is laws and regulations that govern business. b. is the application of moral standards to business situations. c.do not vary from one person to another. d. is most important for advertising business behavior
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b. is the application of moral standards to business situations.
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Customers expect a firm's products a. boost sales. be profitable c. earn a reasonable return on investment. d. be available everywhere. e. besafe, reliable and reasonably priced.
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e. be safe, reliable, and reasonably priced.
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Some AIG executives were aware of the financial problems the company was facing and yet failed to reveal this information to the public.These actions taken by executives were. a.moral b.normal c.in the best interests of shareholders d.unethical e.in the best interests of the employees.
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d. unethical
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Bribes are a. unethical b. ethical only under certain circumstances c. uncommon in many foreign countries. d. economic returns. e. ethical
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a. unethical
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What are three sets of factors that influence the standards of behavior in an organization? a. Organizational norms, circumstances, and morals b. Peer pressure, attitudes, and social factors c. Historical factors, management attitudes, and opportunity d. Opportunity individual factors, and social factors e. Financial factors, opportunity, and morals
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d. Opportunity individual factors, and social factors
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Informing the press or government officials about unethical practices within one's organization is called? a. unethical behavior b. whistling c. whistle-blowing d. trumpeting e. a company violation
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c. whistle-blowing
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Social responsibility a. has little or no associated costs. b. can be extremely expensive and provides very little benefit to a company. c. has become less important as businesses become more competitive. d. is generally a crafty scheme to put competitors out of business e. is costly but provides tremendous benefits to society and the business
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e. is costly but provides tremendous benefits to society and the business
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Caveat emptor a. is a French term that implies laissez-faire. b. implies disagreements over peer evaluations. c. is a Latin phrase meaning "let the buyer beware." d.is a Latin phrase meaning "let the seller beware." e. is a Latin phrase meaning "the cave is empty."
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c.is a Latin phrase meaning "let the buyer beware."
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Where does social responsibility of business have to begin? a. Government b. Management C. Consumers d. Consumer protection groups e. Society
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b. Management
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Primary emphasis in the economic model of social responsibility is on a. quality of life. b. conversation of resources. c. market-based decisions. d. production e. firm's and community's interests
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d. production
