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Exam 4: Demanding Ethical and Socially Responsible Behavior

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Question 121

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According to the Connecting Across Borders box,which of the following is true?

A) Corporate ethics are intended to be consistent with cultural ethics.
B) Corporate ethics have priority over corporate profit.
C) Corporate profits have priority over corporate ethics.
D) Corporate ethics can clash with cultural ethics.

E) None of the above
F) A) and B)

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Question 122

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Businesses have a social responsibility to create jobs.

A) True
B) False

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Question 123

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Mini-Case Harry,Sirly,and Bo are in the midst of a heated discussion.As the chief operating officers of the U-Scream Ice Cream Corporation,they are reviewing the latest financial reports.Intense competition has resulted in deceased profits.Each of the three officers has their own view of how to reverse the current trend. Harry suggests cutting costs by firing union employees and hiring replacement workers at lower wages.He has directed the firm's attorney to find a loophole in the contract that will allow for this action.Sirly protests,stating that Harry's proposal is unethical and unfair.Sirly feels that every stakeholder should be treated equally,and that profiting at the expense of others is foolhardy. Bo,agreeing in part with Sirly,states,"We must be sensitive to all affected parties,but clearly our primary goal is to make a profit for our owners." In an attempt to resolve the conflict between Harry and Sirly,Bo offers an alternative suggestion: reduce the firm's charitable contributions until acceptable profit levels are realized.Sirly is outraged and reminds Bo of the social responsibilities that U-Scream Ice Cream has to the community,environment,suppliers,employees,and stockholders. -Harry is concerned about the legality of firing union workers in order to hire workers willing to work for less pay.Harry values ______________ ethics,but has little concern for other types.

The Foreign Corrupt Practices Act deals with:

Going green means:

Out-Tel,a computer chip manufacturer,knowingly sold defective chips and failed to notify customers of the potential problems.When the problem became public knowledge,the firm's stock price fell dramatically.This illustrates the value that investors place on the ethical behavior of businesses.

An accurate statement regarding this chapter is: "Business law establishes ethical behavior."

Before it was publicly known that IBM was going to take over Lotus Development,an IBM secretary told her husband,who told two co-workers,who told friends,relatives,business associates,and even a pizza delivery man.A total of 25 people received the information and traded on this tip to make a profit.These people were:

In the Connecting Across Borders box,the story demonstrates the many ethical similarities between North and South American business.This is fortunate for Motorola and other large electronics firms who do business south of the U.S.border.They can depend on their subsidiary firms to have no problems when implementing U.S.company employee policies.

Olivia is ordering trendy necklaces and earrings made with semi-precious stones from a supplier in Belize,for her city boutique.Due to low paying wages in Belize,the supplier has promised an excellent wholesale price for these goods.You concur with Olivia when she explains to you that international business law is very clear-cut with these dealings.As long as the supplier is not breaking any labor laws in his country,Olivia's social responsibility is covered.

With respect to business ethics,it can be said that "it takes two to tango." This indicates that:

When managers disregard ethical concerns,the likely result is:

Ethical behavior focuses on treating others fairly.

The ethical standards by which international political leaders are judged are more lenient today than they were in years past.

Many individuals today believe that ethical behavior is determined by what is best for them at the time.This is an example of:

People involved in business may be tempted to do something unethical in order to increase sales and profits,but rarely do because if they are caught,our legal system will deal harshly with them.

As the human resources director for your company,it is your job to evaluate the company's benefits plan.Although several workers utilize the company day care facility,the facility costs the firm considerably more than another benefit might cost,such as having an on-site physician.The on-site physician services are supported by insurance,and the physician actually rents space from the company.Under these circumstances,eliminating the day care is a balanced decision.

In today's business climate,going green has become part of everyday business.Companies are flooded each day with questions regarding their "greenness." If companies don't respond fast enough to these inquiries,they could score low in some sustainability studies.How are organizations working to combat this and yet show they're green?

Sharon,a CPA for a large firm noticed that the company's accounting records drastically overstated the amount of inventory on hand,which led to overstating the assets of the firm.Initially,she brought it to the attention of her supervisor,but when nothing was done to correct the mistake in a timely manner;she decided the best course of action was to report it to the appropriate government official.Although her actions took her outside the company,she was counting on current law,under the ____________ to protect her against company retaliation.

Effective corporate values start with employees and develop throughout the organization to include top management.