Question 1

Following a public outcry, the CEO of a nationwide consumer bank was forced to apologize to and recompense customers for whom the bank had set up false credit card and auto loan accounts, over 100,000 account managers were terminated, and the company's stock price also sharply declined. Which of the following did the company incur?

Accepted Answer

The company incurred internal administrative costs to terminate over 100,000 account managers, tangible costs to recompense customers, as well as intangible costs such as the CEO's apology and the sharp decline in the company's stock price. Therefore, the answer is internal administrative costs, tangible costs, and intangible costs.

Question 2

Does a company have a duty to go beyond legal requirements and conform to the ethical norms of the societies in which it operates?

Accepted Answer

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Question 3

A company that sets aside 2 percent of its pre-tax profits to build and then fund a cancer-recovery facility for teens is an example of a corporate social responsibility action to

Accepted Answer

The company's decision to allocate a portion of its profits towards building and funding a cancer-recovery facility for teens is an example of a philanthropic action. The company is using its resources to benefit society by supporting a cause that goes beyond profits and is aimed at improving the well-being of others.

Question 4

The business case for why companies should act in a socially responsible manner DOES NOT include such reasons as

Accepted Answer

The reduction of the triple bottom line (which consists of social, environmental, and financial impacts) is not a reason for companies to act in a socially responsible manner. Rather, companies are encouraged to minimize negative impacts and maximize positive impacts in each of the three areas to achieve sustainability. The other answer choices are all valid reasons for companies to act in a socially responsible manner.

Question 5

A company that promotes carpooling among its employees, has cut its printer-paper usage in half, and has installed solar panels on its roof is an example of a corporate social responsibility action to

Accepted Answer

The actions of promoting carpooling, reducing printer-paper usage, and installing solar panels on the roof all demonstrate a commitment to protecting and sustaining the environment, which is a key aspect of corporate social responsibility.

Question 6

Identify and explain the three schools of thought about ethical standards for companies with international operations.

Accepted Answer

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Question 7

What is the difference between ethics and business ethics?

Accepted Answer

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Question 8

What is meant by integrated social contracts theory? What is its contribution to the debate about ethical standards?

Accepted Answer

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Question 9

Which of the following is an activity a company engages in to enhance the quality of life for its employees in an attempt to fulfill its corporate social responsibility?

Accepted Answer

Providing work-at-home opportunities enhances the quality of life for employees by allowing them flexibility and work-life balance. This is an example of a company engaging in social responsibility towards its employees. The other options may also be considered corporate social responsibility, but are not specifically directed towards enhancing the quality of life for employees.

Question 10

Explain the difference between ethical universalism and integrated social contracts theory. Which school of thought is most inclusive? Explain the reasons for your answer.

Accepted Answer

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Question 11

Which of the following builds a moral case for corporate social responsibility and environmentally sustainable business practices?

Accepted Answer

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Question 12

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

Accepted Answer

ethical relativism does equate to multiple sets of ethical standards. In fact it holds that a "one-size-fits-all" template for judging the ethical appropriateness of business actions and the behaviors of company personnel is totally inappropriate. It advocates multiple sets of ethical standards because it believes that whether certain actions or behaviors are ethically right or wrong depends on the ethical norms of the country or culture in which they take place. Multiple sets of ethical standards are inevitable when it is considered appropriate for local ethical standards to take precedence over what the ethical standards may be in a company's home market.

Question 13

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

Accepted Answer

There is actually a moderate correlation, not a high one, between socially responsible behavior and a firm's competitive advantage and financial performance.

Question 14

What are the differences between the school of ethical universalism and the school of ethical relativism?

Accepted Answer

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Question 15

What is the case for why business strategies should be ethical?

Accepted Answer

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Question 16

What are the strengths and weaknesses of the beliefs and tenets underlying the school of ethical relativism?

Accepted Answer

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Question 17

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

While there may be arguments for a moral duty to act in a socially responsible manner, it is not typically included in the business case for why companies should do so. Instead, the focus is often on the potential financial benefits, such as risk reduction, improved reputation, and increased customer loyalty.

Question 18

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

Accepted Answer

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Question 19

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

Accepted Answer

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Question 20

Which of the following is most likely to be morally valid from the perspective of ethical relativism?

Accepted Answer

Ethical relativism is the belief that morality is relative to the culture or society in which it exists. In this scenario, the act of bribing a government official may not be considered morally wrong in the culture or society in which it is practiced. However, it is important to note that ethical relativism has its limitations and should not be used to justify behavior that violates basic human rights or causes harm to others. Therefore, option E of bribing a government official to obtain a permit to build a hospital may be considered morally valid from the perspective of ethical relativism as it may be seen as helping the society.

Quiz 9: Ethical Business Strategies, Social Responsibility, and Environmental Sustainabil ITY

Does a company have a duty to go beyond legal requirements and conform to the ethical norms of the societies in which it operates?

A company that sets aside 2 percent of its pre-tax profits to build and then fund a cancer-recovery facility for teens is an example of a corporate social responsibility action to

The business case for why companies should act in a socially responsible manner DOES NOT include such reasons as

A company that promotes carpooling among its employees, has cut its printer-paper usage in half, and has installed solar panels on its roof is an example of a corporate social responsibility action to

Identify and explain the three schools of thought about ethical standards for companies with international operations.

What is the difference between ethics and business ethics?

What is meant by integrated social contracts theory? What is its contribution to the debate about ethical standards?

Which of the following is an activity a company engages in to enhance the quality of life for its employees in an attempt to fulfill its corporate social responsibility?

Explain the difference between ethical universalism and integrated social contracts theory. Which school of thought is most inclusive? Explain the reasons for your answer.

Which of the following builds a moral case for corporate social responsibility and environmentally sustainable business practices?

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

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

What are the differences between the school of ethical universalism and the school of ethical relativism?

What is the case for why business strategies should be ethical?

What are the strengths and weaknesses of the beliefs and tenets underlying the school of ethical relativism?

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

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

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

Which of the following is most likely to be morally valid from the perspective of ethical relativism?