Question 1

When management considers social and economic issues in decision making,the company is practicing _____.

Accepted Answer

Social responsibility is the practice of businesses taking into account the social and economic impact of their decisions and actions, and taking action to address them. Gatekeeping is a term used in communication to refer to the process of selecting and filtering information. Consumerism is a social and economic ideology that encourages the acquisition of goods and services. Altruism is the practice of selfless concern for the well-being of others.

Question 2

Identify the guidelines established by the Federal Trade Commission (FTC)concerning environmental claims in green marketing.

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Question 3

What is green marketing?

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Question 4

How has whistle-blowing in the healthcare and pharmaceutical industry benefited customers?

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Question 5

Why are consumers increasingly seeking out non-GMO foods?

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Question 6

Why do investors expect a company to act ethically and exhibit social responsibility?

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Question 7

Businesses have responsibilities to _____.

Accepted Answer

Businesses have responsibilities to not only their investors and customers but also to their employees and society as a whole. They have a responsibility to create a safe and healthy work environment for their employees and to contribute positively to the communities in which they operate. This is known as corporate social responsibility. Ignoring these responsibilities can lead to negative consequences for the business in the long run.

Question 8

According to the National Business Ethics Survey,why is workplace misconduct at an all-time low?

Accepted Answer

The survey indicates that more employees are willing to report misconduct, which contributes to the decrease in workplace misconduct.

Question 9

A consulting firm has been hired to help an educational institution in an underprivileged neighborhood raise funds to build fully equipped laboratories for students.Explain the process required for a successful fundraiser.

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Question 10

Which of the following statements is correct?

Accepted Answer

Ethical conflicts often arise when businesses try to balance the needs of different stakeholders, which can result in difficult ethical dilemmas. Setting ethical standards is rarely clear-cut, as businesses must navigate complex cultural and legal frameworks. The ethical values of employees certainly have an impact on a business's actions and decisions, and setting ethical standards can be challenging. Therefore, option A is the correct statement.

Question 11

The development of a corporate culture to support business ethics happens on four levels.Explain each of the four levels.

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Question 12

Explain social responsibility.

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Question 13

Explain how the Food and Drug Administration (FDA)promotes the consumers' right to be informed.

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Question 14

Explain product liability and briefly describe what this means in terms of social responsibility.

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Question 15

Identify the reasons why Starbucks is ranked number one in the area of corporate responsibility according to Fortune Magazine.

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Question 16

Explain how the toy company Hasbro improved its social and environmental performance.

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Question 17

What is a social audit? Who conducts it?

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Question 18

Taking or borrowing of company goods without company knowledge undermines that employee's _____.

Accepted Answer

Taking or borrowing company goods without company knowledge is an act of dishonesty and lack of integrity on the employee's part as they are not following the company's policies or ethical standards.

Question 19

Explain how state and federal agencies carry out their responsibilities of protecting investors from financial misdeeds.Include examples of specific organizations and agencies.

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Question 20

What are the objectives of consumerism?

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Quiz 2: Business Ethics and Social Responsibility