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Exam 4: Ethics and Corporate Responsibility

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Question 21

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Choose the true statement regarding unethical corporate behavior.

A) Unethical corporate behavior is the sole responsibility of unethical individuals.
B) Managers must adhere to firm standards in different cultural contexts rather than decide when relativism is appropriate.
C) Business ethics are shaped exclusively by laws and by individual development and virtue.
D) Companies with international activities find it easier to maintain a positive ethical climate.
E) Unethical corporate behavior reveals a company culture that is ethically lax.

F) B) and E)
G) D) and E)

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Question 22

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The Sarbanes-Oxley Act

A) levelized import tariffs to prevent fraudulent behavior.
B) prohibited commercial banks from participating in the investment banking business to prevent unethical lending.
C) prohibited corrupt foreign business practices, for example, bribing of foreign government officials.
D) removed barriers in the market among banking companies to prevent unethical insider trading.
E) established strict accounting and reporting rules to make senior managers more accountable and to improve and maintain investor confidence.

F) A) and E)
G) A) and D)

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Question 23

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Over the weekend, an employee attended a party and photos were taken and posted on Facebook. On Monday, several employees came to see you to show you and a contractor called to voice their concerns. Explain your response.

Managers need to ________ so that employees will discuss problems in meeting goals, rather than resorting to unethical and possibly illegal behavior.

________ refers to the moral principles and standards that guide the behavior of an individual or group.

In the context of ethics programs in organizations, programs tend to be better integrated into operations, thinking, and behavior when

The economic responsibilities of business include satisfying its obligations to investors.

In accordance with the goals of transcendent education, ________ is described as viewing success not merely as personal gain but as a common victory.

An ethical leader is one who is both a moral person and a moral manager influencing others to behave ethically.

Joshua, a manager, is considering having to lay off Tom, because Tom's skills no longer match the company's needs in the face of a changing marketplace. Tom is a popular employee who participates in many office social gatherings and company-sponsored charitable events. Joshua knows that letting Tom go would have a huge negative impact on the other employees and that there would likely be unintended consequences of his decision. In the context of making an ethical decision, this stage is known as moral

"It is perfectly legal for us to accept cash payments from our suppliers, as long as we don't get too greedy, and as long as we don't do anything that could get us in trouble with the law," said Barney Storms, CEO of Blue Eye Products. "That's why I have instructed our corporate counsel to design mechanisms to prevent, detect, and punish legal violations." Barney is promoting a(n) ________ ethics program.

In the context of a transcendent education, ________ refers to feeling one's decisions as potential victims might feel them, to gain wisdom.

Business ________ are the moral principles and standards that guide behavior in the world of business.

________ refers to the principles, rules, and values people use in deciding what is right or wrong.

The notion of ________, an ethical system, is similar to Adam Smith's concept of the invisible hand in business.

A tenet of ________ is that all people should uphold certain values, such as honesty and other values that society needs to function.

Two basic ethical ideals underpin the Caux Principles for Business. They are

Scott has great respect for his long-time manager and mentor, Jaime. When Scott is confronted with a challenging ethical issue, he asks himself how Jaime would have handled the situation. Scott uses ________ as an ethical system to guide him in his decision making.

________ is economic growth and development that meet an organization's present needs without harming the ability of future generations to meet their needs.

Some organizations have platforms that allow employees to provide anonymous feedback about the work and behavior of colleagues and seniors. The primary purpose of such methods is