1.award:0.05 out of0.05 pointsBusiness ethics can be defined as ________________________rev: 12_04_2013_QC_40665special standards that are only applicable for business situations.

principles that are popular in conducting business but generally do not find consideration when crafting and executing a strategy.

a company's duty to operate in an honorable manner and provide good working conditions for employees.

rules each company makes about "what is right" and "what is wrong" for top management and the board of directors.

the application of ethical principles and standards to the actions and decisions of business organizations and the conduct of their personnel.

ebook & resources2.award:0.05 out of0.05 pointsAccording to the school of ethical universalism, the most important concepts of what is right and what is wrong _____________are universal and transcend culture, society, and religion.

are mandatory and every company has to apply and to adhere to a set of rules.

are based on the belief that local moral standards should take precedence over what the ethical standards may be in the company's home market.

vary significantly according to local cultural beliefs, traditions, or religious convictions.

are dictated by subjectively provable moral principles but not by objectively provable moral principles.

ebook & resources3.award:0.05 out of0.05 pointsNotions of right and wrong, fair and unfair, moral and immoral, ethical and unethical _____________vary enormously from country to country across the world.

are present in all societies and subcultures.

ultimately depend on the circumstances; nothing is really black or white when it comes to ethical standards.

are determined by senior management when developing a company's corporate values and code of conduct.

ultimately depend on a person's own values and beliefs.

ebook & resources4.award:0.05 out of0.05 pointsWhich of the following statements adhere to the basic tenets of the school of ethical relativism?The standards of what constitutes ethical and unethical behavior in business situations are partly universal, but in the main are governed by local business norms.

Many basic moral standards travel well across cultures and countries and really do not vary significantly according to local cultural beliefs, social mores, religious convictions, and/or the circumstances of the situation.

Individuals and businesses have a basic right to "moral free space" and it is inappropriate to specify ethically permissible and ethically impermissible actions and behaviors.

What constitutes ethical or unethical behavior on the part of local businesspeople is properly governed by local ethical standards rather than the standards that prevail in other locations.

Concepts of right and wrong as applied to business situations are always a function of each company's own set of values, beliefs, and ethical convictions (as stated in the company's code of ethical conduct).

ebook & resources5.award:0.05 out of0.05 pointsWhich of the following is a major drawback of ethical relativism?The adoption of ethical relativism can be dangerous and might lead to the conclusion that if a country's culture is accepting of bribery, environmental degradation, and exposing workers to dangerous conditions, then managers are free to engage in such activities.

The adoption of ethical relativism creates unnecessary rigidity that comes from having universal ethical standards for company personnel.

There is no possibility to measure the compliance of company personnel to ethical relativism due to the different standards worldwide.

The one-size-fits-all set of ethical standards hinders personnel to do their work properly and effectively.

By adopting an ethics policy shaped by ethical relativism, the company will end up allowing each employee to determine what set of ethical standards to observe.

ebook & resources6.award:0.05 out of0.05 pointsAccording to integrated social contracts theory, ____________________________there is no "moral free space" for the people in a particular country (or local culture or even a company) to decide what actions may or may not be permissible within the bounds of business ethics.

local ethical norms always take precedence over universal ethical norms, thus local ethical norms can be less stringent than the universal ethical standards.

universal ethical principles or norms are based on the collective views of multiple cultures and societies combined to form a "social contract" that all individuals, groups, organizations, and businesses in all situations have a duty to observe.

the slippery slope of ethical relativism is rejected and the ethical universalism is embraced.

cultural differences that give rise to different ethical standards so there is no one culture that is more "ethically correct" than another.

ebook & resources7.award:0.05 out of0.05 pointsWhich of the following describes the strength of integrated social contracts theory?The integrated social contracts theory correctly recognizes all soundly reasoned ethical standards are universal and local adaption should be dismissed.

The integrated social contracts theory recognizes that individuals and businesses have a basic right to "moral free space" and that it is inappropriate to specify ethically permissible and ethically impermissible actions and behaviors.

The integrated social contracts theory puts no absolute limits on what actions and behaviors fall inside the boundaries of what is ethically or morally right and which actions and behaviors fall outside.

The integrated social contracts theory allows the use of a one-size-fits-all set of authentic ethical norms resulting in efficient processes and effective compliance measurements.

The integrated social contracts theory accommodates the best parts of ethical universalism and ethical relativism.

ebook & resources8.award:0.05 out of0.05 pointsThe major drivers of unethical managerial behavior include __________________greed, atheism, pervasive managerial immorality, and a general lack of scruples on the part of top executives regarding how customers and suppliers should be treated.

overzealous pursuit of wealth and other selfish interests, heavy pressures on company managers to meet or beat performance targets, and a company culture that puts profitability and good business performance ahead of ethical behavior.

widespread managerial belief in the ethical relativism school of thinking.

an aversion to ethical correctness on the part of top executives and a belief that unethical behavior is unimportant and probably won't be discovered.

intense competitive pressures.

ebook & resources9.award:0.05 out of0.05 pointsA company's strategy needs to be ethical because ___________________of the danger that top management will be embarrassed if the company's unethical behavior is publicly exposed.

a deliberate pursuit of unethical strategies and tolerance of unethical conduct is a risky practice from both a shareholder perspective and a reputational standpoint.

everyone is an ethics watchdog and somebody is sure to blow the whistle on the company's unethical behavior.

of the risks of getting caught and prosecuted by governmental authorities if an unethical strategy is used.

unethical strategies are inconsistent with or weaken the corporate culture.

ebook & resourcesMultiple Choice

10.award:0.05 out of0.05 pointsThe business case for an ethical strategy ____________________focuses primarily on costs that are difficult to quantify (for example, customer defections and adverse effects on employee productivity) but can often be the most devastating.

emphasizes that pursuing unethical strategies not only damages a company's reputation but can also have costly consequences that are wide ranging.

starts with numerous ethical rules and guidelines and an environment where employees rely on these rules for moral guidance.

starts with managers who understand there is big difference between adopting values statements and codes of ethics that serve merely as window dressing and those that truly paint the white lines for a company's actual strategy and business conduct.

begins with ethical guidelines that help send the message that management takes the observance of ethical norms seriously and that behavior falling outside ethical boundaries will have negative consequences.

ebook & resources11.award:0.05 out of0.05 pointsAccording to integrated social contracts theory, the ethical standards a company should try to uphold _______________________are governed by the school of ethical universalism.

are governed both by (1) a limited number of universal ethical principles that are widely recognized as putting legitimate ethical boundaries on actions and behavior in all situations and (2) the circumstances of local cultures, traditions, and shared values that further prescribe what constitutes ethically permissible behavior and what does not.

are governed by each country's code of required ethical conduct, which sets forth that each individual/group/business/organization has a "social contract" to observe the ethical and moral standards that the country has adopted.

should be determined by the company's moral managers.

should never be absolute but rather always provide some wiggle room according to the circumstances of the situation.

ebook & resources12.award:0.05 out of0.05 pointsThe "triple bottom line" refers to what three performance metrics?Economic, social, environmental

Pay, power, performance

Planning, exertion, results

None of the above

All of the above

ebook & resources13.award:0.05 out of0.05 pointsCosts companies incur when ethical wrongdoing is disclosed include _______________________primarily visible costs in the form of government fines and penalties.

visible costs, internal administrative costs, as well as intangible or less visible costs.

lost profits because of customer dissatisfaction with the company's poor ethical standards.

legal fees and compensatory and punitive damage awards.

primarily visible and internal administrative costs; intangible costs account for barely a fraction and do not need to be considered.

ebook & resources14.award:0.05 out of0.05 pointsWhich of the following statements best describes the core concept of corporate social responsibility (CSR)?CSR is the responsibility that top management has for ensuring that the company's actions and decisions are in the best interest of society at large.

CSR consists of the company's deliberate actions to protect the environment, provide for the longevity of natural resources, maintain ecological support systems for future generations, and guard against ultimate endangerment of the planet.

A CSR strategy is defined by the specific combination of financially beneficial activities the company opts to support with its contributions of time, money, and other resources.

CSR is a company's duty to operate in an honorable manner, provide good working conditions for employees, encourage workforce diversity, be a good steward of the environment, and actively work to better the quality of life in the local communities where it operates and in society at large.

CSR primarily focuses on fostering social betterment disregarding shareholders' expectations of maximum return.

ebook & resources15.award:0.05 out of0.05 pointsA company's corporate social responsibility strategy commonly does not include __________actions to ensure the company operates honorably and ethically.

actions to protect and sustain the environment.

actions to promote workforce diversity.

actions to enhance employee well-being and make the company a great workplace.

actions to maximize the return for shareholders (among others: raising dividends and boosting stock prices).

ebook & resources16.award:0.05 out of0.05 pointsAn environmental sustainability strategy consists of a company's deliberate actions to _____________operate in an honorable manner, provide good working conditions for employees, and actively work to enhance the quality of life in the local communities where it operates and in society at large.

meet the current needs of customers, suppliers, shareholders, employees, and other stakeholders in a manner that protects the environment, provides for the longevity of natural resources, maintains ecological support systems for future generations, and guards against ultimate endangerment of the planet.

apply ethical principles of right and wrong regarding the protection and enhancement of natural resources and ecological support systems as set forth in the Global Code of Ethical Behavior adopted by 150 nations of the world.

apply universal norms regarding the protection of the environment to its everyday operations and to establish guidelines regarding what actions are ecologically sound based on the findings of the scientific community.

balance commonly held views about what constitutes environmentally appropriate actions against its ability to make a profit.

ebook & resources17.award:0.05 out of0.05 pointsWhich of the following statements doesnotaccurately describe sustainability?More often sustainability concerns a firm's relationship to the environment and its use of natural resources.

Sustainable business practices are those capable of meeting the needs of the present without compromising the world's ability to meet future needs.

A company's environmentally sustainable strategy consists of its deliberate actions to protect the environment, provide for the longevity of natural resources, maintain ecological support systems for future generations, and guard against ultimate endangerment.

The termsustainabilityis used in a variety of ways and often is synonymous with corporate social responsibility.

Sustainability requires that shareholders be prepared to accept lower returns to support environmental protection.

ebook & resources18.award:0.05 out of0.05 pointsWhich of the following statements is accurate in regard to a company's environmental sustainability strategy?The environmental strategy is primarily concerned with business practices that meet the needs of the future by rationing what is provided to present-day customers.

Besides deliberate actions to protect the environment, companies adopting environmental sustainable strategies must become members of the Global Environmental Council.

To reverse global warming, more than 75 percent of global corporations must adopt environmental sustainability strategies before 2020.

The environmental strategy consists of its deliberate actions to protect the environment, provide for longevity of natural resources, and maintain ecological support systems for future generations.

Environmental sustainability strategies take precedence over strategies designed to improve a company's standing in the marketplace.

ebook & resources19.award:0.05 out of0.05 pointsThe exercise of corporate social responsibility is good business because __________such actions can lead to increased buyer patronage.

a strong commitment to socially responsible behavior reduces the risk of reputation-damaging incidents.

socially responsible actions yield internal benefits (particularly as concerns employee recruiting, workforce retention, and training costs) and can improve operational efficiency.

well-conceived social responsibility strategies work to the advantage of shareholders.

All of these are correct.

ebook & resources20.award:0.05 out of0.05 pointsThe strength of the beliefs underlying ethical universalism is that __________________ethical universalism recognizes the obviousbasic moral standards vary significantly according to local cultural beliefs, local religious beliefs, and social mores.

ethical standards are objectively determined by religious and moral experts.

what is deemed right or wrong, fair or unfair, moral or immoral, ethical or unethical is (or should be) grounded in religious doctrine and applied strictly to all business situations.

it draws upon the collective views of multiple societies and cultures to put some clear boundaries on what constitutes ethical business behavior no matter what country its personnel are operating in.

it leaves no room for thinking that concepts of right and wrong can be varying shades of gray; they are always absolute and unambiguous.

ebook & resources