Question 1

Universal ethical standards can solve the problem of too many people viewing ethics as__________.

Accepted Answer

Many people view ethics as relative, meaning that what is considered ethical can vary based on cultural, societal, or individual perspectives. However, universal ethical standards establish a set of principles or values that are applicable across different contexts, cultures, and perspectives. By promoting universal ethical standards, people can overcome the problem of viewing ethics as relative and establish a common ground for ethical behavior.

Question 2

In the context of the core values identified by the Character Counts organization, being honest, not deceiving, cheating, or stealing, and doing what you say you'll do represent the universal ethical standard of__________.

Accepted Answer

The core values of honesty, not deceiving, cheating or stealing, and doing what you say you’ll do all fall under the Character Counts core value of trustworthiness. Trustworthiness is the foundation of all other ethical values, as it establishes credibility and reliability in one’s actions and words.

Question 3

Spacein, a hard drive manufacturer, is accused of deliberately creating flaws in its product design. News reports hint that the company has been doing this for years to reduce the time between consumer repurchases. In the context of social responsibility, Spacein has been accused of _____.

Accepted Answer

The accusation against Spacein suggests that they have been engaging in planned obsolescence, which is the practice of deliberately designing products with a limited lifespan to encourage consumers to replace them frequently.

Question 4

Jessica Marshall, the CEO of ABD Oil Drilling Inc., decides to set aside an amount of $10,000 from the company's annual profits to donate to local nonprofit organizations although the company already meets the mandated government requirement of contributing 4 percent of the company's revenue for social benefits. This donation by ABD Oil Drilling Inc. is an example of:

Accepted Answer

The donation by ABD Oil Drilling Inc. is an example of corporate philanthropy - a voluntary act of donating money, resources, or time by a business to local nonprofit organizations or social causes beyond the mandated government requirements. Economic opportunism is a concept of taking advantage of market imperfections or information asymmetry to gain profit, which is not relevant here. Stakeholder remuneration is a process of compensating stakeholders for their contributions to the company, which is also not applicable in this scenario. Planned obsolescence is a strategy of deliberately designing products to become outdated or useless to increase consumer demand and boost profits, which is not relevant here.

Question 5

A chocolate manufacturing company promoted a high-calorie product without providing complete information about the risks involved in its consumption. In the context of business behavior, the company's business conduct was:

Accepted Answer

The company's conduct was legal as it did not violate any laws or regulations, but it was unethical as it failed to provide complete information about the potential risks associated with consuming a high-calorie product. This could mislead consumers and harm their health, making the company's conduct unethical.

Question 6

A clothing company, Clendtine Fashions, pledges five percent of its annual revenue to environmental causes around the world. Being one of the top international companies, the founders of the company have an obligation to contribute toward the betterment of the world. This scenario is an example of Clendtine Fashions's participation in _____.

Accepted Answer

Clendtine Fashions's pledge to donate a portion of their revenue to environmental causes indicates their participation in social responsibility, which is the idea that businesses have an obligation to contribute to the betterment of society and the environment.

Question 7

Rupert is an individual who believes in contributing to the community by using eco-friendly products. In the context of universal ethical standards, Rupert most likely possesses the core value of _____.

Accepted Answer

Citizenship refers to the responsibility of individuals to contribute positively to the community they belong to. Rupert's belief in using eco-friendly products aligns with this core value as it reflects his sense of responsibility towards making a positive impact on the environment and society.

Question 8

Jordon, a senior executive at a marketing firm, used to regularly meet international clients to discuss future projects. After one of his recent meetings went wrong, Jordan, in a fit of rage, threw a paper weight at his junior associate. The firm's management immediately terminated Jordan for this act. In the context of business ethics, Jordon was guilty of _____ in this scenario.

Accepted Answer

Jordon's act of throwing a paper weight at his junior associate in a fit of rage was a clear violation of professional conduct and workplace ethics. This type of behavior is classified as an ethical lapse which refers to a temporary lapse in judgment or an unintentional mistake that goes against ethical guidelines. The firm's management was within their rights to terminate him for his misconduct.

Question 9

Trotin Langdon Corp., a leading car dealer, operates in many countries. The company has a clearly written mandate for all its contractors abroad. According to this, all contractors must ensure that standardized safety measures are implemented in their factories and workers are made to work only for nine hours a day. In this scenario, Trotin Langdon Corp. has set _____ for its vendors.

Accepted Answer

Trotin Langdon Corp. has set a code of conduct for its vendors, which includes the requirement for standardized safety measures and limiting worker hours to nine hours a day.

Question 10

Vandium, a high-end smartphone, is known for its excellent audio quality and processing speed. However, most of its users complain of certain technical issues after a period of five months. The company, however, is well aware of these issues because it deliberately designs these products to fail after a certain period-a strategy to generate revenue through service charges. In the context of business behavior, Vandium's business conduct is:

Accepted Answer

Vandium's business conduct is legal as they have the right to design their products the way they want. However, it is unethical as they deliberately design their products to fail to generate revenue through service charges, which harms the customers. Therefore, the company's conduct is legal but unethical.

Question 11

Lovine, a women-centric magazine, interviewed a victim of domestic violence. Although the magazine assured the victim that her name would not be mentioned in the article, it later published the article with the victim's real name. This scenario exemplifies a(n) _____.

Accepted Answer

The situation described is an ethical lapse because the magazine assured the victim that her name would not be mentioned but then published her real name without her consent. This is a breach of trust and a violation of ethical standards. An ethical dilemma would involve a difficult decision between two morally justifiable options, such as a doctor deciding whether to withhold medical treatment from a terminally ill patient. False dilemma and false dichotomy both refer to a logical fallacy where only two extreme options are presented as the only choices, when in reality there may be many other options available.

Question 12

Flickczar, a film production company in the United States, sells the distribution rights of a film to its distributors in underserved areas at rock-bottom prices, while it sells the rights of the same film to distributors in other areas at normal prices. In the context of business behavior, Flickczar's business practice is _____.

Accepted Answer

The answer of Flickczar, a film production company in the...

Question 13

Transparency International, a leading anticorruption organization, published its yearly index of "perceived corruption" across 168 countries in 2015. Its findings showed that:

Accepted Answer

The answer of Transparency International, a leading anticorruption organization, published...

Question 14

Mark and Augustine are employees of an advertising firm. Following a personal disagreement, Augustine steals Mark's idea for an advertisement and presents it as his own in a meeting. In this scenario, Augustine is guilty of _____.

Accepted Answer

Augustine is guilty of an ethical lapse, which is a situation where an individual behaves unethically due to personal factors such as greed, anger, or jealousy. The fact that he stole Mark's idea shows a lack of integrity and violates the trust between colleagues. Ethical hacking refers to the use of hacking techniques for ethical reasons, an ethical dilemma is a situation where an individual must choose between two or more ethical principles, and ethical consumerism refers to the choice of products and services based on ethical and social considerations. None of these apply to the given scenario.

Question 15

A Japanese company encourages its employees to participate in charitable activities. The company gives annual paid leave of ten days to its employees to volunteer at nonprofits or take part in activities that support environmental causes. Given this information, the company's initiative is an example of _____.

Accepted Answer

The company's initiative is an example of corporate philanthropy, which involves a company donating its resources or time to support social or environmental causes. The company encourages its employees to participate in charitable activities by providing them with paid leave, which indicates its commitment to social responsibility.

Question 16

In the context of a company's responsibility to the environment, which of the following is the idea behind sustainable development?

Accepted Answer

Sustainable development is the idea of meeting the needs of the present generation without compromising the ability of future generations to meet their own needs. It involves balancing economic development with environmental protection and social responsibility. This approach ensures that resources are used in a way that preserves the natural environment and allows for long-term economic growth.

Question 17

The most socially responsible companies establish _____ for their vendors, setting clear policies for human rights, wages, safety, and environmental impact.

Accepted Answer

The term "codes of conduct" refers to clear policies and guidelines established by companies for their vendors regarding human rights, wages, safety, and environmental impact. This demonstrates a company's commitment to social responsibility and ethical practices. Universal ethical standards and greenwashing principles are not directly related to a company's policies for vendors, and "human acts and morality basics" is not a commonly used term in the context of corporate social responsibility.

Question 18

In the context of monitoring ethics and social responsibility, which of the following is the starting point of a social audit?

Accepted Answer

The starting point of a social audit is to establish goals, which could include ethical and social responsibility standards. Once goals are established, the effectiveness of those standards can be measured and legal standards can be identified as necessary. Contacting government regulatory agencies may be part of the audit process, but it is not the starting point.

Question 19

Aragon, a brand of inverters, provides products that work well in the first year of their use. The performance of the products, however, starts declining after the first year, and the products eventually become unusable within a short period of time. The pattern of breakdown is similar for all Aragon inverters. Reports suggest that Aragon intentionally creates inferior products to increase repurchases. In the given scenario, Aragon is guilty of _____.

Accepted Answer

Aragon is guilty of planned obsolescence, a strategy where a company deliberately produces goods with a limited lifespan to encourage consumers to buy new products sooner.

Question 20

Anaida is an entrepreneur who believes in providing equal opportunity to people regardless of their age, gender, race, or religion. She is open-minded and detests the idea of taking advantage of others. In the context of universal ethical standards, Anaida most likely possesses the core value of _____.

Accepted Answer

Anaida's belief in providing equal opportunity to people regardless of their age, gender, race, or religion indicates that she values fairness, which is one of the core ethical values of treating people equitably and impartially, regardless of any differences between them. The other options, such as frugality, citizenship, and responsibility, do not seem to align with Anaida's values as described in the scenario.

Quiz 4: Business Ethics and Social Responsibility: Doing Well by Doing Good