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Exam 4: Ethics and Corporate Responsibility

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Question 1

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According to the Caux Principles for Business, the ethical ideal of kyosei means:

A) deciding what is right by using a set of rules and regulations.
B) being aware of moral situations and then acting morally.
C) accepting the moral constraints of living in a society.
D) living and working together for the common good.
E) recognizing the intrinsic worth of every human being.

F) D) and E)
G) A) and E)

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D

Question 2

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Discuss ecocentric management and sustainable growth.

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Question 3

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In the context of a transcendent education, _____ refers to learning how to give as well as take, to others in the present as well as to future generations.

_____ refers to the moral principles and standards that guide the behavior of an individual or group.

Ecocentric management centers around practices that maximize current economic growth, irrespective of the potential harm to future generations.

Scenario C. Use the information given below to answer the following three questions: Two managers, Scott and Adams, at Apex, Inc. are discussing the latest e-mail they have received about how decisions are evaluated and made on the basis of right and wrong at their company. Scott's reaction is, "All this thing needs to say, as far as I'm concerned, is if you don't get busted for it, you're innocent. If you do get caught, you pay the price." Adams, on the other hand, has a very different idea. His response is, "I believe that every individual should take personal responsibility for their behavior. I would like for our organization to integrate that idea into everything we do here at work." -The processes by which decisions are evaluated and made on the basis of right and wrong in a company refers to its:

According to utilitarianism, all people should uphold certain values, such as honesty and other values that society needs to function.

According to Professor Edward Freeman, which of the following is true of ethics and corporate responsibility?

In the context of ethical systems, which of the following is true of virtue ethics?

The moral principles and standards that guide behavior in the world of business are known as:

Susan, an employee in a company, is facing a situation in which she has to choose between going along with her colleagues and filling out inaccurate time records, or informing her manager about the malpractice. In this context, Susan is faced with a(n) :

_____ refers to the principles, rules, and values people use in deciding what is right or wrong.

Clark, an American teenager, helps his parents do the household chores only if he receives a large weekly allowance. According to Kohlberg's model of cognitive development, he resides in the _____ stage.

Which of the following is true of unethical corporate behavior?

Which of the following goals of a transcendent education is described as thinking not just in terms of "don'ts" (lie, cheat, steal, kill) , but also in terms of positive contributions?

Relativism defines ethical behavior based on the opinions and behaviors of relevant other people.

The _____ Act established strict accounting and reporting rules to make senior managers more accountable and to improve and maintain investor confidence.

Scenario A. Use the information given below to answer the following three questions: An energy drink corporation faces an ethical question. There has been a problem with the accounting process that has resulted in higher profits being reported than what was actually earned. A meeting is held where senior management decides how to handle the situation. The people at the table have varying views of the appropriate action to be taken. Sarah wants to report the error because she is worried about her job should the information about a cover-up be leaked. Ben wants to report the error because it is the honest thing to do, and he feels that is fundamental to business and society. After hearing the opinion of his colleagues, Ray says he wants to report the error as well because he prefers to agree with the consensus. -Which ethical system does Sarah use in her decision making?

Scenario B. Use the information given below to answer the following three questions: A sales manager is facing an ethical situation wherein his toy company sold a scooter with a defective component. If he informs the customer and issues a recall, it would cost him a substantial amount of money. If the toy malfunctions, it could cause serious injury to the child playing with it. His colleagues have suggested three options: Option 1: Keeping quiet about the defect Option 2: Reviewing company policy, toy industry practices, and advice from colleagues Option 3: Disclosing the defect and suggesting alternatives to eliminate the risk of injury AACSB: Reflective Thinking Blooms: Apply Topic: Five Perspectives Shape Your Ethics -Which ethical approach is illustrated by option 3?

Milton Friedman contended that a business cannot increase its profits while conforming to society's laws and ethical customs.