Question 1

Explain how companies committed to environmental sustainability are able to address society's concerns about protecting the environment while lowering costs and/or creating value for customers.

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Question 2

Which one of the following is false as concerns the merits of why acting in a socially responsible manner is good business?

Accepted Answer

The statement B is false because while there is some correlation between socially responsible behavior and a firm's performance, it is not always high or direct. The relationship between social responsibility and financial performance is complex and influenced by many factors, making it inaccurate to assert a high correlation universally.

Question 3

Good corporate citizens do not

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Good corporate citizenship involves meeting legal, ethical, and economic responsibilities (A), improving community standards (C), sustaining profitability while pursuing social responsibility (D), and contributing to society, especially where government efforts are lacking (E). Identifying managers for future political roles (B) is not typically considered a responsibility or characteristic of good corporate citizenship, as it focuses more on individual career paths rather than broader societal or ethical obligations.

Question 4

Explain what is meant by the "triple bottom line."

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Question 5

Good corporate citizens

Accepted Answer

Option E is the best choice as it emphasizes going beyond meeting society's expectations for ethical strategies and business behavior by fostering social benefit and balancing the interests of all. This approach is in line with the principles of Corporate Social Responsibility (CSR) and emphasizes the need for businesses to act as good citizens in society. Options A, B, and D may also contribute to being a good corporate citizen, but they do not necessarily go beyond meeting societal expectations for ethical behavior. Option C may be questionable as it may appear to promote nepotism or undue influence on politics.

Question 6

Discuss briefly what is meant by the terms ethical universalism and ethical relativism.Where does integrative social contracts theory fit into the debate about ethical standards? Which of the three schools of thought stands on the strongest ground?

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Question 7

What are the chief causes of unethical strategies and unethical business behavior?

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Question 8

Identify and briefly describe the three main drivers of unethical strategies and unethical managerial and business behavior.

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Question 9

Explain the difference between ethical universalism and integrative social contracts theory.Which school of thought do you think is most valid? Explain the reasons for your answer.

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Question 10

What is the essence of the theory of corporate social responsibility (CSR)? How does the CSR theory differ from the concept of corporate citizenship?

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Question 11

What is the business case for why a company should pursue ethical strategies?

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Question 12

Explain the key tenets of the concept of environmental sustainability.How does striving for environmental sustainability impact strategic initiatives involving a company's shareholders,its employees,and the environment?

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Question 13

Which one of the following is not a part of the business case for why companies should act in a socially responsible manner?

Accepted Answer

The moral duty to be a good corporate citizen is an ethical argument, not a business case. The other options provide business-related benefits of acting in a socially responsible manner.

Question 14

What are the strengths and weaknesses of the thesis that ethical standards are (or should be)universal?

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Question 15

What is meant by integrative social contracts theory? How does such an approach ensure a strong commitment to business ethics in companies with international operations?

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Question 16

What is the difference between ethics and business ethics?

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Question 17

Explain the difference between the school of ethical universalism and the school of ethical relativism.

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Question 18

Sourcing a supply from a small,women-owned business is an example of a corporate social responsibility action to

Accepted Answer

Sourcing a supply from a small, women-owned business promotes workforce diversity, which is a key aspect of corporate social responsibility. It helps to support and empower underrepresented groups and create a more equitable business landscape. While supporting philanthropy, ensuring honorable and ethical action, enhancing employee well-being, and protecting and sustaining the environment are all important aspects of CSR, they are not directly related to sourcing from a small, women-owned business.

Question 19

Which of the following statements regarding a company's CSR and sustainability strategies is false?

Accepted Answer

There is no fixed percentage of profits that a company must spend on social responsibility initiatives to be considered socially responsible. The amount spent on CSR initiatives may vary depending on the company's financial capacity and the scope of its social responsibility strategies. To determine whether a company is socially responsible, it is important to consider the impact of its CSR initiatives on key stakeholders and society as a whole, rather than the percentage of profits spent.

Question 20

Ethical relativism equates to sometimes conflicting sets of ethical standards.True or false? Explain your answer.

Accepted Answer

The school of ethical relativism holds that when there are national or cross-cultural differences in what is deemed an ethical or unethical business situation,it is appropriate for local moral standards to take precedence over what the ethical standards may be in a company's home market.The thesis is that whatever a culture thinks is right or wrong really is right or wrong for that culture.From a global markets perspective,ethical relativism may result in a maze of conflicting ethical standards for multinational companies.

Quiz 9: Ethics, corporate Social Responsibility, environmental Sustainability, and Strategy