Question 1

What is the first step in making ethical judgments?

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Question 2

What would constitute a conflict of interest in a business setting?

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Question 3

What are managerial ethics?

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Question 4

Europol's Criminal Finances and Technology section estimates that up to 90 percent of all carbon market volume in certain EU nations is fraudulent.

Accepted Answer

According to the given statement, Europol's Criminal Finances and Technology section estimates that up to 90 percent of all carbon market volume in certain EU nations is fraudulent. Therefore, the statement is true.

Question 5

The United Nations "cap and trade" system gives certain companies (i.e., those that have bought carbon credits) the right to pollute the atmosphere.

Accepted Answer

The United Nations "cap and trade" system allows companies to buy and sell carbon credits, which represent a certain amount of allowed emissions. By purchasing these credits, companies can offset their own emissions by supporting projects that reduce greenhouse gas emissions elsewhere. However, this does not give them the right to pollute the atmosphere, but rather a way to balance their emissions and contribute to reducing overall emissions.

Question 6

Triple bottom line reporting means measuring the finance, marketing, and production performance of a company.

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Triple bottom line reporting means measuring the social, environmental, and financial performance of a company.

Question 7

What is the difference between unethical behaviour and illegal behaviour?

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Question 8

Australia, Canada, and the United States are the world's largest greenhouse gas emitters on a per capita basis.

Accepted Answer

According to the World Bank, as of 2018, Australia, Canada, and the United States were the top three countries with the highest levels of greenhouse gas emissions per capita, in that order.

Question 9

A major concern for the small business owner is whether he or she can afford to have a social agenda.

Accepted Answer

Small business owners often have limited resources and have to weigh the costs and benefits of investing in social initiatives.

Question 10

Sustainable development means pursuing activities that meet current needs, but which will not put future generations at a disadvantage when they attempt to meet their needs.

Accepted Answer

Sustainable development is defined as development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs. Therefore, it is true that sustainable development aims to pursue activities that meet current needs while ensuring that future generations are not at a disadvantage.

Question 11

Business firms which engage in cheque kiting are acting in a socially responsible manner because such financial techniques result in higher profits, higher dividends, and higher stock prices, and these benefit stockholders.

Accepted Answer

Cheque kiting involves deliberately inflating account balances by writing checks between accounts that do not have sufficient funds, which is fraudulent behavior. Such actions are unethical and illegal, and can harm not only the financial institution but also other stakeholders such as customers and the broader community. Therefore, engaging in cheque kiting cannot be considered as socially responsible behavior.

Question 12

Xanex Corp. will often respond positively to requests for donations from certain charitable organizations, but it will not seek them out. Xanex has adopted a defensive stance to social responsibility.

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Question 13

Because Joan owns a small company, the concept of socially responsible behaviour does not apply to her.

Accepted Answer

The concept of socially responsible behaviour applies to all businesses regardless of their size. As a business owner, Joan has a responsibility to consider the social and environmental impacts of her business operations.

Question 14

The proactive social responsibility stance is used by firms who actively seek opportunities to contribute to the well-being of society.

Accepted Answer

The proactive social responsibility stance involves actively seeking out opportunities to make a positive impact on society and is a common approach to corporate social responsibility.

Question 15

The defensive stance to social responsibility rejects the idea that business has contributed to many of society's problems and, therefore, business has a social obligation to correct those problems.

Accepted Answer

The defensive stance to social responsibility indeed rejects the notion that businesses are responsible for societal problems and thus denies any obligation to help solve these issues. This stance typically involves doing the minimum legally required to address social issues, without acknowledging a broader responsibility.

Question 16

What is the difference between ethical behaviour and unethical behaviour?

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Question 17

List four ethical norms.

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Question 18

Branson Corp. will do everything that is legally required, but it will not go beyond that. This means that Branson has adopted the defensive approach to social responsibility.

Accepted Answer

The statement correctly describes the defensive approach to social responsibility, which involves meeting minimum legal requirements but not going beyond them.

Question 19

Identify an issue of managerial ethics relating to behaviour toward employees.

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Question 20

What requirement does the Personal Information Protection and Electronic Documents Act (PIPEDA) impose on companies?

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Quiz 3: Conducting Business Ethically and Responsibly