Ethics

1. Duty to _______ is the type of ethical requirement established by the precedents of tort law.
2. engage in charitable work
3. volunteer for causes related to the environment
4. find employment for employees injured at work
5. not cause avoidable harm to society
6. _______ is the term used to describe a potentially damaging or ethically challenged corporate culture.
7. Toxic
8. Pyrophoric
9. Corrosive
10. Caustic
11. _______ will impact the culture of an organization in the absence of any other established values.
12. Profit at any cost
13. Customer satisfaction
14. Legal compliance
15. Ethical behavior
16. The habits, expectations, and values implicitly and explicitly expressed in corporate culture have a strong

influence on

1. workplace decision making.
2. compliance-based culture.
3. corporate ethics programs.
4. social responsibility.
5. Which of the following best characterizes the tenets of the stakeholder theory?
6. A firm’s financial goals must be balanced against, and perhaps even overridden by, environmental considerations.
7. Firms should fully integrate economic and social goals by bringing social responsibilities into the core of their business models.
8. The long-term financial well-being of every firm is directly tied to questions of how the firm both affects and is affected by the

natural environment.

1. The narrow economic model fails both as an accurate descriptive and as a reasonable normative account of business

management.

6. The tension that prevails when an organization tries to meet both social and economic responsibilities is

generally overcome by

1. pursuing social ends as the very core of an organization’s mission.
2. doing charitable work to build a good reputation within the community.
3. utilizing a small percentage of profit on social causes.
4. emphasizing the importance of achieving the desired economic goals.
5. The _______ serves as an expression of the fundamental principles at the heart of an organization and

should guide all decisions without abridgment.

1. annual report
2. mission statement
3. vision statement
4. income statement
5. The “tone from the top” refers to the explicit statements and publicly visible behavior of the
6. firm’s middle management.
7. company stakeholders.
8. employees.
9. firm’s leader and executive management.
10. In which of the following situations is the distinction between compliance-based and values-based

corporate cultures most evident?

1. Packaging and labeling
2. Accounting and auditing
3. Printing
4. Advertising
5. Corporate social responsibility generally is accepted to mean the ethical responsibilities that a business

has to

1. uphold social values.
2. create a corporate culture.
3. care for the environment.
4. the society in which it operates.
5. The integrative model of corporate social responsibility includes _______ implications in its decisionmaking

process.

1. regulatory and legal
2. legal and stakeholder
3. economic and stakeholder
4. economic and legal
5. The _______ model of corporate social responsibility (CSR) considers business as a citizen of the

society in which it operates.

1. philanthropic
2. altruistic
3. economic
4. stakeholder
5. A recommended first step in creating a corporate culture focused on promoting key values is to create a

corporate

1. ethics program.
2. compliance checklist.
3. regulatory code.
4. code of conduct.
5. _______ culture is a traditional approach to corporate culture.
6. Integrity-based
7. Compliance-based
8. Values-based
9. Customer-based
10. The _______ model of corporate social responsibility (CSR) suggests that the long-term financial wellbeing

of every firm is directly tied to questions of how the firm both affects and is affected by the natural

environment.

1. stakeholder
2. sustainability
3. social entrepreneurship
4. philanthropic
5. According to philosopher Norman Bowie, managers have a responsibility to maximize profits as long as

they

1. contribute to charitable organizations.
2. adhere to rules and regulations.
3. do charitable work within the company.
4. respect human rights and cause no harm.
5. Which of the following situations could result in the business culture becoming a determining factor in

ethical decision making?

1. Lack of competition
2. Stagnant or decreasing profits
3. Law providing incomplete answers
4. Lack of strong leadership
5. The second step in the development of guiding principles for a firm is to
6. express a clear vision regarding the firm’s direction.
7. believe that the culture is actually possible and achievable.

End of exam

1. identify clear steps as to how the cultural shift will occur.
2. ask oneself what one stands for or what the company stands for.
3. _________ and an ongoing ethics audit allow organizations to uncover silent vulnerabilities that could

pose challenges later to the firm, thus serving as a vital element in risk assessment and prevention.

1. An ombudsperson
2. A mission statement
3. Monitoring
4. Statements of values
5. Corporate social responsibility (CSR) refers to the
6. actions that maximize the profit of an organization.
7. accountability that a manager has to his or her subordinates.
8. dedication that businesses show in expanding their market share.
9. ethical expectation that society has for businesses.