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Exam 4: Demanding Ethical and Socially Responsible Behavior

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Question 101

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A common form of cheating in schools today is plagiarizing material from the Internet.

A) True
B) False

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Question 102

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Utilizing the phrase "the ends justify the means" as a corporate value system can negatively impact company morale and competitiveness. In a recent study,both managers and workers cited low managerial ethics as a major cause of our competitive woes.Employees reported that they often violate safety standards and goof off as much as seven hours a week.

A) True
B) False

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Question 103

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Over two-thirds of the American population report never giving any time to the community.

At Fast-Track Financial Services,it is not unusual for a financial consultant to lose a client to another consultant working out of the same office.Clients have a right to do business with whomever they choose.If it is a high net worth client,with the potential for high commissions on sales,the incentive to steal a fellow co-worker's client exists because the firm's culture has not established integrity based ethics to deter this activity. Integrity-based ethics refers to the organization's guiding values.These ethics create an environment of ethically sound behavior.By law,the client may do business and/or solicit the services of any consultant at the company,and overzealous consultants who want to increase their commissions may be tempted to convince others' clients that they have better ideas for making money.

"Fair disclosure" refers to a Securities and Exchange Commission rule that states when a publicly traded firm discloses information,it must share it with everyone.

Integrity-based ethics codes are based on avoiding legal punishment.

An ethical dilemma refers to a situation where you must:

"Actions speak louder than words!",is an old saying that refers to the fact that people's actions - how they act as opposed to what they say - are often testament to their true ethical values. People adopt values from observing what others do,not particularly from hearing what they say;making the actions of others more important in framing ethical behavior,than what people say.

Several years ago,the garment and soft goods industry agreed to adopt higher ethical standards with respect to contract manufacturers that produce their goods.The leadership agreed that this was a good approach in order to avoid the U.S.government from intervening and creating new laws to force the industry to only work with foreign manufacturers who operated with high ethical standards.This was sensible strategy on the part of the garment and soft goods industry. A business should manage ethically for many reasons.Managers will often evaluate the cost of ignoring poor ethical behavior in light of the fact that government will often create laws that punish companies that misbehave.

Top management at Big Bend Motorcycle Company is convinced that the company has a social responsibility to its community.Management believes that the firm can have the greatest impact in this area through cash contributions to nonprofit organizations.This is an example of:

A public good is one that everyone gets to enjoy regardless of who pays for it.

Last week,the Local Citizens for a Greener America sent a formal document to Chipper's Golf Resort asking the private club to measure its carbon footprint and publicly disclose the amount of fertilizer and other carbon emitting substances that it uses on its two award winning golf courses.LCGA is an example of __________.

When it comes to ethics and social responsibility,the public's perception of a firm is as important as what the firm does.

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

Compliance-based ethics codes:

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

Enrollment at Tradewinds College (a well-known private institution) has increased by about 3% each year for three years,even though tuition and fees have gone up to help defray the cost of new wind turbines installed on campus to generate enough power to serve the campus buildings and to sell to local business establishments.As a recent student of contemporary corporate social responsibility,you conclude:

Fresh Walls Paint Company promotes its products as nontoxic and made from natural,organic substances that are safe for all persons including those with asthma and other lung conditions.In order to live up to customer expectations,it must walk the walk and not just talk the talk! If consumers learn that Fresh Walls' paints do not meet their expectations,their reaction is likely to tarnish the company's image. It's not enough for companies to brag about their social responsibility efforts.They must live up to the expectations they raise or face the consequences.Customers want to do business with companies they can trust.

Zorn Enterprises,a successful property management firm in Pennsylvania donates all reusable and recyclable goods left by past tenants.Besides these contributions,each year,Zorn sponsors a neighborhood clean-up day in the areas where it owns properties,complete with gardening tools that become prizes and a volunteer picnic.Zorn Enterprises is an example of how a small firm can demonstrate ________________.

A social audit is a systematic evaluation of an organization's progress toward implementing programs that are profitable.