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Exam 4: Demanding Ethical and Socially Responsible Behavior

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Question 91

True/False

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U.S. businesses have little influence over the behavior of businesses from other countries.

A) True
B) False

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Question 92

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Which of the following is an unresolved ethical issue that surrounds global trade?

A) Product quality
B) Labor standards
C) Transportation issues
D) Time to market issues

E) All of the above
F) None of the above

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Question 93

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Employers should proceed cautiously when designing an employee incentive program that rewards employees strictly on increased sales.

Provide examples that serve to explain the differences among the following terms: (1) corporate responsibility; (2) corporate social initiatives; (3) corporate philanthropy.

Corporate values, like personal values, are learned by observing what others do.

In order to avoid insider trading, the SEC (Securities and Exchange Commission) has adopted a new rule called ________ that requires publicly traded companies to release information to everyone in a timely manner, rather than just to a few persons.

GloboTech recently used intentional accounting irregularities to make the company look more profitable than it actually was. GloboTech ________.

Make it Better, Inc. is a large insurance company in the Midwest. Make it Better made its corporate philanthropy public when it announced 3% of its profits would be donated toward the cultural and environmental concerns of Des Moines, the home of Make it Better's corporate headquarters. The CEO stated, "In honor of several hundred employees that come to work here every day, we want to give something back." Since this is only helping one metropolitan area, the donation falls outside the realm of corporate social responsibility.

A payoff for socially conscious behavior is

Watchdogs (including customers, socially conscious investors, and environmentalists) monitor how well firms enforce their ethical and social responsibility policies.

The objective of the Inter-American Convention Against Corruption document formulated and signed by the Organization of American States is to identify common global ethics.

In order to do the right thing for all stakeholders, a business should be managed ethically.

The job of an ethics officer is to serve as a counselor for employees and as an investigator for the company.

A charitable donation contributed by a corporation is an example of corporate philanthropy.

Tobacco companies label their products with warnings of the potential health hazards that could occur from smoking. Due to the fact that this is a government-mandated disclosure, it is part of the industry's compliance-based ethics.

Utilizing the phrase "the ends justify the means" as a corporate value system can negatively impact company morale and competitiveness.

U.S. businesses claim that unethical business practices are common outside the U.S.

As a recent college graduate, Jonah started working for an export trading company. His job has already taken him around the globe, including Asia on several occasions. He was amazed to see the difference in working conditions in the developing nations he visited, as opposed to similar operations in the United States. The expectations of workers were not the same. Jonah's experience is an example of

Both managers and workers cite low managerial ethics as a major cause of American businesses' competitive woes.

Creating competition between employees within the corporation