Question 1

After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision-making situation,all parties relevant to the decision should

Accepted Answer

The answer of After a firm has identified the various...

Question 2

Hisaoki picks up the local newspaper and reads a stinging letter to the editor criticizing his beverage company for supporting a sporting event for children with disabilities.The letter writer is critical of a banner displayed at the event,with the logos of alcoholic beverages and Hisaoki's company name.Hisaoki never considered that this problem might arise.In the framework for ethical decision making,Hisaoki's company failed to

Accepted Answer

Hisaoki's company failed to identify the potential issue of displaying logos of alcoholic beverages alongside the company name at a children's event for disabilities. This indicates a lack of foresight and consideration for potential consequences, which falls under the category of failing to identify issues in the framework for ethical decision making.

Question 3

Ironically,while the leaders of Enron Corporation were manipulating the company's finances for their personal benefit,the company was a major donor to Houston area charities.Enron had unethical business practices,but was also

Accepted Answer

Enron's donations to Houston area charities demonstrate the concept of corporate social responsibility. Despite engaging in unethical business practices and manipulating their finances for personal gain, the company recognized their responsibility to give back to the community and support local charities. This is an example of how a company can have both unethical and socially responsible actions.

Question 4

Many corporations are shifting from defined benefit to defined contribution retirement programs.When considering changes to retirement programs,the primary stakeholders are the

Accepted Answer

When considering changes to retirement programs, the primary stakeholders are the employees. They are the ones directly impacted by the changes and their retirement benefits are dependent on the program. While shareholders may have an interest in the financial implications of the program, and customers may indirectly benefit from a happy and stable workforce, the primary concern should be for the well-being and satisfaction of the employees. Marketing managers and competition are not relevant stakeholders in this case.

Question 5

Many executives and corporate boards of directors do not perceive social responsibility as part of their mission or responsibility.These business leaders consider corporate social responsibility to be

Accepted Answer

The statement indicates that many executives and corporate boards of directors do not perceive social responsibility as part of their mission or responsibility, which implies that they potentially view it as beyond the norms of corporate ethical behavior. Thus, the best choice is E. The other options are unlikely, as they suggest a more positive view of corporate social responsibility than what is presented in the statement.

Question 6

When making decisions,managers often have to decide between doing what is beneficial for them (and possibly the firm)in the short run,and doing what is right and beneficial for the firm and for society in the long run.To address this conflict,a firm

Accepted Answer

By aligning individual short-term goals with the long-term goals of the firm, managers will be motivated to make decisions that are beneficial for the company in the long run. This approach helps to address the conflict between short-term self-interest and long-term benefits for the firm and society. It also helps to create a culture of ethical decision-making within the company.

Question 7

When auditing expenses claimed by the university president,the auditors found extravagant spending on $1,000 per night hotels,banquets,and gourmet restaurants.The president was fired,alumni donations declined,and staff members-who were disturbed by the extravagance while staff salaries were frozen-quit their jobs.This example illustrates

Accepted Answer

This example illustrates that unethical actions by a leader can have far-reaching consequences beyond just financial harm, including damage to reputation, loss of donations, and staff turnover. It highlights the importance of considering the potential impact of one's actions on the organization as a whole, and the need for leaders to act ethically and with consideration for the wellbeing of their staff and stakeholders.

Question 8

When Bernie Ebbers,WorldCom's CEO,was convicted of financial crimes,WorldCom was forced to merge with MCI.One of the ramifications of this merger was the loss of WorldCom's sponsorship of the Sea Pines Heritage PGA golf tournament.The tournament funds the Heritage Foundation,a major community charity.This example illustrates

Accepted Answer

The loss of WorldCom's sponsorship of a community charity event due to the CEO's financial crimes highlights the fact that unethical actions can have negative repercussions beyond just the corporation itself, affecting stakeholders such as charitable organizations and their beneficiaries. This emphasizes the importance of ethical behavior in business, not just for the benefit of the corporation, but for the broader community as well.

Question 9

The ethical decision-making framework includes all of the following steps except

Accepted Answer

Promoting the firm's corporate social responsibility efforts is not a step in the ethical decision-making framework, rather it is a continuous effort of the firm to act in a socially responsible manner. The rest of the options are all essential steps in the ethical decision-making framework.

Question 10

Denny is considering the question,"Did our actions have a negative impact on any stakeholder group?" Denny is addressing marketing ethical issues in the __________ phase of the strategic marketing planning process.

Accepted Answer

The answer of Denny is considering the question,"Did our actions...

Question 11

Compared to the average company,firms with strong ethical climates tend to

Accepted Answer

Firms with strong ethical climates tend to be more socially responsible as they prioritize ethical behavior and sustainability in their operations. This can include implementing environmentally friendly practices, promoting diversity and inclusion, and giving back to their communities. While the other options may also be important for successful businesses, they do not necessarily correlate with a strong ethical climate.

Question 12

Garrett has just purchased a beer distributorship.He wants to increase the visibility of his firm in local markets,but he knows there are a number of regulations and socially accepted practices associated with promoting alcoholic beverages.According to the framework for ethical decision making,the first thing Garrett should do is to

Accepted Answer

The answer of Garrett has just purchased a beer distributorship.He...

Question 13

Rock-Bend Company is considering buying out a competing firm and closing most of the competitor's factories.The firm has identified the various stakeholders and their issues and gathered the available data.Everyone with an interest in the issue has engaged in brainstorming and evaluating alternatives.Management reviewed and refined the alternatives,and then choose a course of action.If the managers are not confident about the decision,they should

Accepted Answer

If the managers are not confident about the decision, they should reexamine their alternatives. This will allow them to review and possibly revise their decision-making process or consider new options. It's important to make sure that the decision is well-informed and carefully considered, especially in a situation that could potentially have significant consequences for multiple stakeholders. Lowering the offering price, consulting customers or choosing the least risky option may not necessarily address the underlying issue of lack of confidence in the decision. Trusting their instincts alone may also not be the most rational approach without a clear evaluation of the available data and alternatives.

Question 14

Darwin's company is facing a difficult ethical issue.The firm has identified the various stakeholders and their issues and gathered the available data.Everyone with an interest in the issue has engaged in brainstorming and evaluating alternatives.Management reviewed and refined the alternatives.It should now choose the course of action that

Accepted Answer

When facing an ethical issue, it is important to weigh the concerns and interests of all stakeholders involved. The best course of action should be one that takes into account the various perspectives and attempts to find a solution that is fair and equitable for all parties. Choosing a course of action based solely on maximizing profits, minimizing costs, or avoiding publicity may not be the most ethical or responsible approach. In this case, the best choice is to select the course of action that seems to be the most appropriate after considering the concerns of all stakeholders.

Question 15

To avoid having ethical situations become problematic for a firm,the short-term goals of each employee must

Accepted Answer

By aligning the short-term goals of each employee with the long-term goals of the firm, there is less likelihood of ethical situations becoming problematic. When short-term goals are in line with the overall strategy of the firm, it helps to foster accountability, teamwork, and a cohesive organizational culture that understands the importance of ethical behavior. This approach also helps to prevent situations where employees prioritize their own short-term goals over the overall goals of the firm, which can lead to ethical lapses.

Question 16

The Harvest County School Board is concerned about deteriorating school facilities,combined with a shrinking budget.The board began by studying the issue,and then identified parents,children,teachers,staff,and taxpayers as groups who have a vested interest in the problem.The school board has listened to each group's concerns.In the ethical decision-making framework,its next action should be to

Accepted Answer

After listening to each group's concerns, the next step in the ethical decision-making framework should be to engage in brainstorming alternatives. This will allow the school board to come up with potential solutions to address the issue of deteriorating school facilities and the shrinking budget. Only after brainstorming alternatives should the board move on to choosing a course of action, evaluating the legal ramifications, and assessing the impact of its actions beyond the classroom. Identifying issues of concern to lawmakers may also be important, but it is not the next step in the framework.

Question 17

When looking at ethical issues associated with the strategic marketing planning process,questions

Accepted Answer

Ethical issues can arise at any stage of the strategic marketing planning process, from research to implementation. Therefore, questions should be asked and addressed at each stage of the process to ensure that the marketing plan is ethically sound.

Question 18

After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision-making situation,__________ should engage in brainstorming and evaluating alternatives.

Accepted Answer

All parties relevant to the decision should engage in brainstorming and evaluating alternatives to ensure that perspectives and concerns of all stakeholders are considered in the decision-making process. This promotes more inclusive decision-making and can help to identify creative solutions that balance the interests of different stakeholders.

Question 19

Being socially responsible is generally considered

Accepted Answer

The answer of Being socially responsible is generally considered
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Question 20

After a firm has identified the various stakeholders and their issues and gathered the available data,all parties relevant to the decision should engage in brainstorming and evaluating alternatives.__________ then review and refine these alternatives,and choose a course of action.

Accepted Answer