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Foundations of Business Chpt 2/test 2

Land pollution
Has been worsening over the past few years because modern technology has continued to produce increasing amounts of chemical and radioactive waste.Continues to be a serious problem in many areas.
If you are a whistle-blower, you are
Informing the press or government officials about unethical behavior in your firm.
Each of these is one of the four original rights of consumers EXCEPT the right to
Customize and purchase products online.
A Defense Department official receives an all-expense paid vacation for him and his family from a large defense contractor. This would be considered a conflict of interest.
It is unconstitutional for a business to set quotas for hiring minorities to satisfy an affirmative action program. In fact, quotas are a form of discrimination called reverse discrimination.
Until the 1930s, most abuses were left for competition and the marketplace to correct.
One argument for social responsibility is that by helping resolve social issues, businesses can create a more stable environment for long-term profitability.
The application of moral standards to business decisions and activities is called
Social responsibility.
Jet aircraft are the main source of human emissions deposited into the upper atmosphere.
In consumerism, the right to safety means that products have been tested by the manufacturer to ensure quality and reliability.
Cultural norms and other social factors have no influence on a person’s ethical behavior.
The Fair Packaging and Labeling Act of 1966 calls for all products sold across state lines to be labeled with net weight, ingredients, and the manufacturer’s name and address.
The purpose of an affirmative action program is to
Increase the number of minority employees at all levels within an organization.
At Barry’s Burgers, the french fries are counted when received, inventory is adjusted after each sale, and every spoiled fry is logged in the French Fry Journal. Barry felt he needed the extra procedures because employees were taking advantage of him and eating his french fry inventory. The strict accounting procedures for the french fries are designed to decrease the _____________ for employees to be unethical.
The application of moral standards to business situations is referred to as social responsibility.
A minority is a racial, religious, political, or other group regarded as different from the larger group of which it is a part and that is often treated unfavorably.
In the early days, employees joined labor unions in an effort to improve working conditions.
The two best approaches to the problem of noise pollution are to isolate the sources of excessive noise and to
Modify equipment to reduce noise levels.
Which statement best describes a company that has adopted the socioeconomic model of social responsibility?
The company emphasizes not only profits but also the impact of business decisions on society.
Business ethics is no longer a major problem in our society.
Define ethics and business ethics.
Ethics is the study of right and wrong and of the morality of choices individuals make.
Business ethics is the application of moral standards to business situations.
List some ethical issues that may trouble businesses today.
Fairness and honesty, Organizational relationships, Conflict of interest, Communications
List some factors that affect ethical behavior.
individual, social, and opportunity.
List several ways companies seek to encourage ethical behavior.
Companies must also create an environment in which employees recognize the importance of following the written code. Managers must provide direction by fostering communication actively encouraging ethical decision making and training employees to make ethical decisions.
What is whistle blowing? Is there law that protects a whistle-blower?
someone who informs the press or government officials about unethical practices within ones organization.
Sarbanes-Oley Act of 2002 protects whistle blowers who report corporate misconduct.
Define social responsibility.
is the recognition that business activities have an impact on society and the consideration of that impact in business decision making. Social responsibility costs money; however, it is also good business.
How do the economic and socioeconomic models of social responsibility differ?
1. The economic model of social responsibility holds that society will benefit most when business is left alone to produce and market profitable products that society needs.
2. The socioeconomic model of social responsibility holds that managers have a social responsibility not only to stockholders but also to customers, employees, suppliers, and the general public. This model emphasizes profits and the impact of decisions on society.
List some arguments for and against companies being socially responsible.
Arguments for Increased Social Responsibility
1. Business cannot ignore social issues because business is a part of our society.
2. Business has the technical, financial, and managerial resources that are needed to tackle today’s complex social issues.
3. By helping to resolve social issues, business can create a more stable environment for long-term profitability.
4. Socially responsible decision making by business firms can prevent increased government intervention, which would force businesses to do what they fail to do voluntarily.

Arguments Against Increased Social Responsibility
1. Business managers are primarily responsible to stockholders, so management must be concerned with providing a return on owners’ investments.
2. Corporate time, money, and talent should be used to maximize profits, not to solve society’s problems.
3. Social problems affect society in general, so individual businesses should not be expected to solve these problems.
4. Social issues are the responsibility of government officials

What is consumerism?
consists of all those activities that are undertaken to protect the rights of consumers. The consumer movement issues fall into three categories: environmental protection, product performance and safety, and information disclosure.
What is a consumer advocate?
consumer advocate such as Ralph Nader take it on themselves to protect the rights of consumers,, they band together into consumer organizations either independently or under government sponsorship.
List the four main rights in John F. Kennedy’s Consumer Bill of Rights.
The right to safety, The right to be informed, The right to choose, The right to be heard
What is affirmative action and which companies must have affirmative action plans?
is a plan designed to increase the number of minority employees at all levels within an organization.

Employers with federal contracts of more than $50,000 per year must have written affirmative action plans.

What is the main goal of affirmative action?
ensure that minorities are represented within the organization in approximately the same proportion as in the surrounding community.
What is the purpose of the EEOC?
a government agency with the power to investigate complaints of employment discrimination and sue firms that practice it.
Are women and men usually comparably compensated?
women make about 77 cents for every dollar men make in comparable employment.
List the four steps necessary for implementing an effective social responsibility program. What is a social audit?
1. Commitment of Top Executives.
2. Planning.
3. Appointment of a Director.
4. The Social Audit.
A social audit is a comprehensive report of what an organization has done, and is doing, with regard to social issues that affect it.

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