The utilitarian approaches to ethics hold that the moral worth of actions or practices is determined by their consequences.
Societal business ethics are divorced from personal ethics.
What is considered normal business practice in one country may be considered unethical in other countries.
A firm's internal stakeholders include customers, suppliers, and lenders.
Friedman's arguments suggest that improving working conditions beyond the level required by the law and necessary to maximize employee productivity will reduce profits and are therefore not appropriate.
According to _____, the social responsibility of business is to increase profits, so long as the company stays within the rules of law.
Answer: the Friedman doctrine
An American manager in Colombia routinely pays off the local drug lord to guarantee that his plant will not be bombed and that none of his employees will be kidnapped. The manager argues that such payments are ethically defensible because everyone is doing it. The manager's argument exemplifies which of the following ethical approaches?
Answer: Naive immoralist
Which of the following, in a business setting, is taken to mean benevolent behavior that is the responsibility of successful enterprises?
Answer: Noblesse oblige
According to the Friedman doctrine:
Answer: businesses should not undertake social expenditures beyond those mandated by the law and required for the efficient running of a business.
A situation in which none of the available alternatives seems morally acceptable is called:
Answer: an ethical dilemma.
Identify the INCORRECT statement about environmental regulations.
Answer: Environmental regulations are similar across developed and developing nations.
A multinational company is accused of paying bribes to the government of a host country to obtain permission to build a production factory. The public relations manager of the company defends the company's actions as being ethically sound; he states that in the host country, paying bribes to government officials is the accepted norm and is in keeping with the social practices in the host country. The public relations manager is using which of the following philosophical doctrines to defend the actions of the company?
Answer: Cultural relativism
The _____ occurs when a resource is shared by all, but owned by no one, is overused by individuals, resulting in its degradation.
Answer: tragedy of the commons
Which of the following was designed to allow GM to operate ethically in South Africa as long as the company did not obey the apartheid laws in its own South African operations?
Answer: Sullivan principles
The idea that businesspeople should consider the social consequences of economic actions when making business decisions and that there should be a presumption in favor of decisions that have both good economic and social consequences is known as:
Answer: social responsibility.
Rawls' philosophy that inequalities are justified if they benefit the position of the least-advantaged person is known as the:
Answer: difference principle.
According to the naive immoralist,:
Answer: if firms in a host nation do not follow ethical norms then the manager of a multinational should also not follow ethical norms there.
Expatriate managers may experience more than the usual degree of pressure to violate their personal ethics because of all of the following reasons EXCEPT:
Answer: they are psychologically and geographically closer to the parent company.
_____ means standing in the shoes of a stakeholder and asking how a proposed decision might impact that stakeholder.
Answer: Moral imagination
According to John Rawls:
Answer: each person should be permitted the maximum amount of basic liberty compatible with a similar liberty for others.
The utilitarian approach to business ethics suggests that:
Answer: the moral worth of actions or practices is determined by their consequences.
Answer: typically comprise customers, suppliers, lenders, etc.
Which of the following refers to the values and norms that the employees of an organization share?
Answer: Organization culture
The Convention on Combating Bribery of Foreign Public Officials in International Business Transactions excludes:
Answer: facilitating payments made to expedite routine government action.
Cultural relativism suggests that:
Answer: a firm should adopt the ethics of the culture in which it is operating.
Urgenthomework helped me with finance homework problems and taught math portion of my course as well. Initially, I used a tutor that taught me math course I felt that as if I was not getting the help I needed. With the help of Urgenthomework, I got precisely where I was weak: Sheryl. Read More