Exam 9: Ethics, Corporate Social Responsibility, Environmental-Sustainability, and Strategy

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The two schools of thought differ in how...

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The strength of ethical universalism is ...

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Ethics concerns principles of right or w...

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A) They create a maze of conflicting ethical standards.
B) They justify conflicting ethical standards for operating in different countries.
C) They establish little moral basis for establishing ethical standards for a company worldwide.
D) They restrict enforcement of ethical standards worldwide.
E) They create standards that mostly relate to ethical codes in a company's home market,which might trigger compliance issues in the local market.

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A) In a multinational company,application of ethical relativism equates to multiple sets of ethical standards.
B) There are few absolutes when it comes to business ethics and thus few ethical absolutes for consistently judging a company's conduct in various countries and markets.
C) When there are cross-country or cross-cultural differences in ethical standards,it is appropriate for ethical standards in a company's home market to take precedence over what the local ethical standards may be.
D) A company that adopts the principle of ethical relativism and holds company personnel to local ethical standards necessarily assumes that what prevails as local morality is an adequate guide to ethical behavior.
E) According to the ethical relativism school of thinking,a "one-size-fits-all" template for judging the ethical appropriateness of business actions and the behaviors of company personnel does not exist.

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A) focuses primarily on costs that are difficult to quantify (for example,customer defections and adverse effects on employee productivity) but can often be the most devastating.
B) emphasizes that pursuing unethical strategies not only damages a company's reputation but can also have costly consequences that are wide-ranging.
C) starts with numerous ethical rules and guidelines and an environment where employees rely on these rules for moral guidance.
D) starts with managers who understand there is a big difference between adopting values statements and codes of ethics that serve merely as window dressing and those that truly paint the white lines for a company's actual strategy and business conduct.
E) begins with ethical guidelines that help send the message that management takes the observance of ethical norms seriously and that behavior falling outside ethical boundaries will have negative consequences.

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A) otherwise dishonorable people to behave ethically.
B) increased observance of ethical strategic actions.
C) a moral work climate.
D) clever ways to operate outside established policies to boost profits.
E) company authorization to observe what's right.

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A) the school of ethical relativism.
B) the school of ethical universalism.
C) integrated social contracts theory.
D) corporate social responsibility.
E) the triple bottom line.

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A) They chiefly deal with the actions and behaviors required to operate companies in a socially responsible manner.
B) They chiefly deal with the rules each company's top management and board of directors make about "what is right" and "what is wrong."
C) They are not materially different from ethical principles in general.
D) They are generally less stringent than the ethical principles for society at large.
E) They are generally more stringent than the ethical principles for society at large.

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A) enhance employee well-being.
B) support philanthropy.
C) protect and sustain the environment.
D) ensure honorable and ethical action.
E) promote workforce diversity.

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A) concepts of what constitute ethical behavior and unethical behavior are dictated by subjectively provable moral principles but not by objectively provable moral principles.
B) concepts of right and wrong are universal within countries/societies but not across countries or cultures.
C) concepts of what is ethical and what is unethical are socially determined,leaving room for variation from country to country or circumstance to circumstance.
D) to the extent there is common moral agreement about right and wrong actions and behaviors across multiple cultures and countries,there exists a set of universal ethical standards to which all societies and all individuals can be held accountable.
E) all societies and countries are obligated to apply universally defined ethical principles of right and wrong as set forth by a global body that formulates the Code of Ethical Behavior for the world.

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A) The higher the public profile of a company or brand,the greater the scrutiny of its activities and the higher the potential for it to become a target for pressure group action.
B) Acting in a socially responsible manner nearly always results in higher profits and a higher stock price for shareholders.
C) To the extent that a company's socially responsible behavior wins applause from consumers and fortifies its reputation,a company may win additional patronage.
D) Some employees feel better about working for a company committed to improving society-a condition that can contribute to lower turnover and better worker productivity.
E) Companies with deservedly good reputations for contributing time and money to the betterment of society are better able to attract and retain employees compared to companies with tarnished reputations.

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A) Economic,social,and environmental
B) Pay,power,and performance
C) Planning,execution,and results
D) Legal,social,and economical
E) Legal,social,and environmental

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A) a company's duty to put the public interest ahead of shareholder interests.
B) societal expectations that all company stakeholders will be treated equally and fairly.
C) a company's duty to establish a loyal workforce.
D) the responsibility that top management has for ensuring that the company's actions and decisions are in the best interest of stakeholders at large.
E) a company's duty to operate in an honorable manner and provide good working conditions for employees.

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A) there can be no one-size-fits-all template (set of authentic ethical norms) against which to gauge the conduct of company personnel,due to cross-cultural differences in ethical standards.
B) a company should have a different set of ethical standards for each country in which it operates.
C) only respected religious experts can provide companies with a higher order moral compass.
D) the best source of ethical standards in each country where the company operates is that country's adopted Code of Required Ethical Conduct.
E) since there can be no one-size-fits-all set of authentic ethical norms,it is appropriate for each company to hold company personnel to observing the company's code of ethical conduct.

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A) are governed by the school of ethical universalism.
B) are governed both by a limited number of universal ethical principles and the circumstances of local cultures,traditions,and shared values.
C) are governed by each country's Code of Required Ethical Conduct,which sets forth that each individual/group/business/organization has a "social contract" to observe the ethical and moral standards that the country has adopted.
D) should be determined by the company's moral managers.
E) should be absolute and avoid wiggle room according to the circumstances of the situation.

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A) Company A loses its customer loyalty by selling low-quality products for a high cost.
B) Company B's tax evasion practices are revealed,leading to a drastic fall in stock prices.
C) Company C incurs penalties of $1.5 billion for discharging toxic wastes into a river.
D) Company D must retrain its employees who are using their Twitter accounts to post workplace frustrations.
E) Company E pays men higher wages than women while at the same time propagating messages of equality and fair play.

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A) a company's efforts to improve the lives of its internal and external stakeholders.
B) the various social initiatives that make up the CSR strategies.
C) a firm's ecological impact and environmental practices.
D) the economic impact (value and costs) that the company has on society.
E) a company's efforts to reduce research and development funding to boost profits.

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