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Exam 4: Demanding Ethical and Socially Responsible Behavior

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Question 131

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A recent study revealed that employee fraud causes 30% of all business failures.

A) True
B) False

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Question 132

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The job of an ethics officer is to serve as a counselor for employees and as an investigator for the company.

A) True
B) False

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Question 133

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Olivia is ordering trendy necklaces and earrings made with semi-precious stones from a supplier in Belize, for her city boutique. Due to low paying wages in Belize, the supplier has promised an excellent wholesale price for these goods. You concur with Olivia when she explains to you that international business law is very clear-cut with these dealings. As long as the supplier is not breaking any labor laws in his country, Olivia's social responsibility is covered.

All else held equal, socially responsible firms:

If a business fails to meet its responsibilities to its employees, which of the following is likely to occur?

The social audit is:

Recent surveys indicate that students are willing to agree to lower salaries if they know their employer is participating in socially responsible activities.

Laws represent the standards of ________ behavior.

The first step when facing an ethical dilemma is to ask:

Business behavior determines the ethics of society. We can improve society's moral and ethical behavior by first making a commitment to improving business's moral and ethical behavior.

A U.S. government official has indicated that for a generous contribution to his reelection fund, he would ignore your firm's apparent violation of several anti-pollution laws. Which of the following "ethics check questions" would you consider first?

Making businesspeople more accountable for company actions may help restore trust in the free-market system and leaders in general.

Purposefully understating your firm's income to avoid paying higher taxes is an example of:

Promoting social justice is a responsibility of society, but not business.

Last year the Bank of Plenty, Inc., made an all-out effort to go paperless. The bank's public relations arm promoted the strategy both internally and externally. Customers were strongly encouraged to utilize the bank's online banking for all their banking needs. Customers could sign up for local workshops where employees were dedicated to showing them how to navigate the bank's new website and find the information they required. The bank's initiative demonstrates:

An ethic of care is based on a sense of responsibility to reduce actual harm or suffering.

Corporate social responsibility covers all those social issues outside our businesses that affect customers and the environment, but not internal issues such as employee considerations and work safety. Internal issues are covered by business laws.

In the past, whistleblowers were known as persons with a universal moral calling. However, seldom did these individuals receive tangible rewards for their efforts. When it was all said and done, they often fell into hard times. Whistleblowers got a boost in 2010, with the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. A provision of this act permits whistleblowers to_____________________.

Since most ethics violations are small and rather insignificant in nature, employees need to understand that addressing these issues is secondary to making profits. CEOs may be justified in putting these on the back-burner, waiting for more convenient moments to address them.

Cigarette producers label their products with warnings of potential health hazards. Due to the fact that this is a government-mandated disclosure, it is part of the industry's compliance-based ethics.