Question 1

Parties often disagree about what constitutes socially responsible behavior, such as selling handguns in a retail store.

Accepted Answer

Parties often have different perspectives and values when it comes to social responsibility, which can lead to disagreements on what actions are deemed socially responsible or not. The example of selling handguns in a retail store is a controversial issue where parties may have opposing views on whether it is a socially responsible behavior.

Question 2

Are values closely related to ethics? Explain

Accepted Answer

The answer of Are values closely related to ethics? Explain...

Question 3

According to the concept of a virtuous cycle, corporate social performance and financial performance enhance each other.

Accepted Answer

The virtuous cycle suggests that when a company focuses on corporate social responsibility, it can lead to improved financial performance. Similarly, improved financial performance can then allow the company to invest more in corporate social responsibility, leading to a cycle of positive reinforcement for both. Thus, corporate social performance and financial performance are interrelated in a virtuous cycle.

Question 4

Economically viable refers to such financial benefits as attaining reduced costs from energy savings, gaining governmental subsidies, and avoiding penalties..

Accepted Answer

Economically viable means that a project or investment can provide financial benefits, such as reducing costs through energy savings, receiving government subsidies, and avoiding penalties.

Question 5

One of the questions in the guide to ethical decision making asks, "Who gets hurt?"

Accepted Answer

This is a true statement. One of the key considerations in ethical decision making is considering who may be impacted or harmed by your actions or decision.

Question 6

Blowing the whistle on one's employer frequently leads to negative consequences for the individual, such as no further promotions or low performance evaluations.

Accepted Answer

Whistleblowers often face retaliation from their employers, which can include no further promotions or low performance evaluations.

Question 7

Organizations take a major social responsibility initiative when they establish programs that help employees balance the demands of work and personal life.

Accepted Answer

Organizations that establish programs such as flexible work arrangements, employee assistance programs, and paid time off for personal reasons are taking a major social responsibility initiative. This helps employees achieve a better work-life balance and improve their overall well-being.

Question 8

The stakeholder viewpoint is the traditional perspective on social responsibility that a business organization is responsible only to its owners and stockholders

Accepted Answer

The stakeholder viewpoint on social responsibility holds that a business organization is responsible not only to its owners and stockholders but also to a wider group of stakeholders, including employees, customers, suppliers, and the community in which it operates.

Question 9

A major corporate thrust toward ethical and socially responsible behavior to go green. How can a company try to create a sustainable environment

Accepted Answer

The answer of A major corporate thrust toward ethical and...

Question 10

The concept of social responsibility holds that business organizations have a legal obligation to be good citizens.

Accepted Answer

The concept of social responsibility suggests that businesses have an ethical obligation, rather than a legal obligation, to act in the best interests of society and the environment.

Question 11

Lincoln Electric Co., a Cleveland-based manufacturer of welding equipment, has become the model of a company whose management has avoided downsizing.

Accepted Answer

Lincoln Electric Co. is known for avoiding downsizing and has been used as a model for other companies to follow.

Question 12

A study of Wal-Mart suggests that what constitutes being socially responsible is not so clear cut.

Accepted Answer

The study of Wal-Mart suggests that what constitutes being socially responsible is not so clear cut, indicating that the answer is true.

Question 13

Imagine that you are about to hire a relative or close friend over a more qualified outside candidate. Take this problem through the ethical decision-making guide, and reach a decision about whether to hire him or her.

Accepted Answer

The answer of Imagine that you are about to hire...

Question 14

Nestle India wants to produce its products locally. About half its 480 factories are located in developing countries.The company has introduced a water education program, has bored wells
for nearly 100 village schools for children, and teaches hygiene programs.
1. Why is Nestle a socially responsible company?
2. How has social responsibly increased Nestle's profits?

Accepted Answer

The answer of Nestle India wants to produce its products...

Quiz 3: Ethics and Social Responsibility