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Exam 4: Demanding Ethical and Socially Responsible Behavior

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Question 71

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One problem with conducting a social audit is:

A) that most businesses are really not very concerned with these issues.
B) how to determine what should be measured and how to calculate the effect on society.
C) that the primary focus of management is on the interests of stakeholders.
D) governmental "red-tape."

E) C) and D)
F) B) and D)

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Question 72

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In order to avoid the costly act of being sued in court,it makes good sense to manage your business ethically.

A) True
B) False

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Question 73

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In a famous speech,former President John F.Kennedy proposed that businesses had four basic rights,and in his own words,he proclaimed that "each one of them leads us back to the right to keep the profits from one's business."

A growing number of people feel that an employee's ethics are a personal matter,and have nothing to do with management.

In the discussion of corporate social responsibility,stakeholders and stockholders refer to the same group.

A phone call to a government official by an employee of the Enron Corporation disclosed the deception and dishonesty of the firm's accounting records.This employee played the role of a:

The question "Is it legal?" establishes ethical behavior.

Obeying the law is ________ ethical behavior.

Ethical behavior refers to the standards that are accepted by society as right or wrong.

Businesses with a formal code of ethics are less common now than in the past.

People who report illegal or unethical behavior are called whistleblowers.

Compliance-based ethics codes:

Moral behavior refers to behavior that is accepted by society as right versus wrong.

The purpose of an) ________ is to evaluate an organization's progress towards implementing programs that are socially responsible and responsive.

Abby is a stockbroker for a large financial services company.A client who works at Sixth Generation Software,Ltd. ,just called to purchase several thousand shares of his company's stock.He reveals to her that the company is about to announce the appointment of a new CEO.Abby asks her client if this information is public knowledge.The reason she asks is to make certain that her client,her company,and she remain in compliance with Regulation FD,the Fair Disclosure rule.

Applying the ethical standards of the U.S.to foreign firms is a difficult process for U.S.firms.

Several outside groups regularly monitor the activities of Metro Chemical Corporation.These groups are interested in the firm's involvement and enforcement of their ethical and social responsibility policies.Who of the following is the least likely to be among the "watchdog" groups?

A few years ago,several U.S.clothing manufacturers were sued in Los Angeles courts by watchdog groups who learned of poor working conditions in manufacturing plants on a U.S.territory known as the Marianas Islands.Customers are concerned with human rights abuses and other problems with supplier relationships abroad.

A business should be managed ethically to keep existing customers and attract new customers.

Insider trading provides the information needed for the securities markets to operate fairly and efficiently.