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Exam 4: Ethics and Social Responsibility

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Question 31

True/False

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When faced with a serious ethical dilemma, Michael chose a solution that created the greatest good for the greatest number of people. Michael used the utilitarian rule.

A) True
B) False

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Question 32

Multiple Choice

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_____ are thoughts and feelings that tell people what is right or wrong.

A) Moral scruples
B) Ethical dilemmas
C) Aesthetics
D) Norms
E) Reiterations

F) B) and C)
G) A) and B)

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Question 33

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_____ are frequently in the position of having to juggle the interests of different stakeholders, including themselves.

Under the justice rule, managers should determine fair rules and procedures for distributing outcomes to stakeholders.

The managers of Lehman Brothers, whose bankruptcy helped propel the 2008-2009 financial crisis, used loopholes in U.K. law to hide billions of dollars of worthless assets in its balance sheet to disguise its poor financial condition. Which of the following approaches to how to be socially responsible is illustrated from this example? Author: I took this change from the questions section above and corrected it. However, I think the sentence was better before the change.

Steve has noticed that there has been an error in his weekly pay stub and the company has unknowingly paid him too much. Steve is pondering whether to report this issue or not. This is an example of an ethical dilemma.

Moral principles or beliefs about what is the right or appropriate way to behave are known as ethics.

Companies that go out of their way to learn about the needs of different stakeholders and use organizational resources to promote their interests are using the _____ approach.

The approach to social responsibility most likely to be taken by a typical large U.S. company is the _____ approach.

One managerial implication of the justice model is that managers should base their decisions on:

An accommodative approach acknowledges the need to support social responsibility.

Under the practical rule, a manager would not be reluctant to communicate a decision to people outside the company when:

Dianna has noticed that there has been an error in her weekly pay stub and the company has unknowingly paid her too much. This example illustrates a(n) _____.

When making appointment decisions, it is wise for the board of directors to avoid scrutinizing the reputations and ethical records for top managers.

When making business decisions, managers must consider the claims of stockholders exclusively.

Demonstrating its social responsibility helps a company build a good _____.

A person's confidence and faith in another person's goodwill is called:

Which of the following approaches to how to be socially responsible is characterized by low levels of socially responsible behavior? Author: I took this change from the questions section above and corrected it. However, I think the sentence was better before the change.

Which of the following statements is true of organizational ethics?

Managers at Enron prevented employees from selling Enron shares in their pension funds while they sold hundreds of millions of dollars' worth of their own Enron stock. This illustrates the _____ approach to social responsibility.