BUSI 301 Chapter 2 – Flashcards
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Nobel prize winning economist Milton Friedman believed what?
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The only responsibility a business has is to maximize shareholder wealth
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True or False. Religious teachings and ethics are separate and distinct and rarely if ever overlap
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False
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True or False. Business ethics is a recent phenomenon not recognized or considered prior to the mid 1900's
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False
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True or False. Tom's company has a code of ethics and a separate code conduct. If he would like to find out about the company's expectations or requirements regarding community service, he would reference the code of ethics
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True
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True or False. A particular act can be deemed unethical yet still be legal
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True
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The utilitarian approach to moral philosophy was founded by who?
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Jeremy Brentham
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True or False. Grimshaw v. Ford Motor Company is often cited as a failing of the management's hand approach to corporate social responsibility
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False
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True or False. A company's code of conduct and code of ethics may be combined into a single document
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True
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The reputed mastermind of the Enron business model was who?
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Jeffery Skilling, Chief Operating Officer
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True or Flase. As of today, the Enron bankruptcy remains as the largest corporate bankruptcy in American history
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False
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what is not a key component in the creation and implementation of a company's value management program
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identifying the values that the company's peer competitors promote
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Arthur Anderson was:
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Enron's auditing firm
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True or False. Codes of ethics are insufficient and do not serve their purpose if they are intended only to ensure that company policies are legal
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True
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After numerous threats from the federal government to enact laws and taxes to recoup bonus money paid to executive employees at AIG of the reported $165 million paid out, about how much was returned by those receiving bonuses?
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$50 million
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True or False. A comprehensive values management program may be used in managing a company's diversity program
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True
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True or False. Social responsibility is at its highest when the moderate view AKA government's hand theory to corporate social responsibility is utilized
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False
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"what if everyone took these same actions" is a question sometimes called the what?
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universalization approach
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True or False. Enron corporation was a private corporation dealing in a governmentally regulated market
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False
