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Exam 5: Ethics and Social Responsibility

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Question 41

True/False

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An integrity-based ethics code moves beyond legal compliance in order to create a "do-the-right-thing" climate.

A) True
B) False

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Question 42

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The purpose of a(n) ________ is to evaluate an organization's progress toward implementing programs to achieve social responsibility.

A) accountability review
B) social audit
C) federal disclosure statement
D) annual report

E) B) and C)
F) A) and D)

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Question 43

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Several outside groups regularly monitor the activities of Metro Chemical Corporation.These groups are interested in the firm's involvement and enforcement of their ethical and social responsibility policies.Who of the following is the least likely to be among the "watchdog" groups? A.The financial officer of a church with funds invested in the chemical company. B.Overseers from the World Trade Organization (WTO). C.A student of environmental engineering attending a local college. D.The president of the union representing the workers at the chemical company.

The purpose of the Sarbanes-Oxley Act is to provide financial rewards for whistle-blowers.

Ethical behaviour comes at the expense of stockholder wealth.

Businesses demonstrate corporate responsibility towards what four types of stakeholders?

Explain the difference between a compliance-based ethics code and an integrity-based ethics code. A.Compliance-based ethics codes emphasize preventing unlawful behaviour by increasing control and penalizing wrongdoers.The primary focus is to conform to outside standards,(laws and regulations),and avoid criminal misconduct. B.An integrity-based code of ethics defines the organization's guiding values,creates an environment that supports ethically sound behaviour,and stresses a shared accountability among employees.There is still a requirement to conform to outside standards,but that is just a starting point.Integrity-based ethics codes move beyond legal compliance to create a "do-it-right" climate that emphasizes core values,such as honesty and fair play.

Corporate philanthropy refers to the position a firm takes on social and political issues.

When discussing moral and ethical issues,it is helpful to remember that ethical behaviour begins with:

A competitive corporate environment:

The purpose of the Federal Accountability Act is to:

The economic power of large multinational firms allows them to ignore the ethical standards of a society without consequences.

Organizational ethics are learned by:

The majority of CEOs believe that employee misconduct results from a failure in organizational leadership in establishing ethical standards.

Give an example of where the Canadian government has gotten involved with business in environmental issues.

While "doing the right thing" is an admirable code of ethics,there are no international organizations dealing with global ethics and corruption.

A growing number of people feel that an employee's ethics are a personal matter,and have nothing to do with management.

Minority hiring practices and pollution control are both areas of corporate responsibility.

Getting even is one of the most powerful incentives for good people to do bad things.

The ethical standards by which international political leaders are judged are less strict today than they were in years past.