Governance and Ethics Practice Exam
Course Introduction
This course explores the fundamental principles of governance and ethics within organizations and society. Students will examine the frameworks, policies, and practices that ensure accountability, transparency, and ethical decision-making in both public and private sectors. The course covers key topics such as corporate social responsibility, codes of conduct, stakeholder management, regulatory compliance, whistleblowing, and the impact of governance structures on organizational culture and performance. Through real-world case studies and discussions, students will develop the skills necessary to navigate ethical dilemmas and contribute to the establishment of effective governance systems.
Recommended Textbook
Canadian Business and Society Ethics Responsibilities and Sustainability 3rd Edition by Robert W.
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16 Chapters
1160 Verified Questions
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Chapter 1: The Relationship Between Business and Society
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75 Verified Questions
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Sample Questions
Q1) Integrity is becoming an increasingly important attribute for managers to possess.
A)True
B)False
Answer: True
Q2) In a proprietorship or partnership,the owners assume all responsibility for the firm,but they also receive all profits.
A)True
B)False
Answer: True
Q3) In order for a business to be legitimate,the business enterprise system must report positive profits and pay dividends to shareholders on a consistent basis.
A)True
B)False
Answer: False
Q4) Strategic planning is a function of the board of directors.
A)True
B)False
Answer: True
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Chapter 2: Ethics and Capitalism
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87 Flashcards
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Sample Questions
Q1) Canada's economic system is capable of taking into consideration social and ethical concerns.
A)True
B)False
Answer: True
Q2) Denise,the owner of an Internet company,is relocating the business to Toronto.Her employees all believe that she should have considered their needs in this decision as they are part of the team that has made the business successful and that customers in the community will be hurt by this move.The employees are applying the principle of __________ in asking her to consider their request.
A) individualism
B) communitarianism
C) consumer sovereignty
D) team building
E) collectivism
Answer: B
Q3) Define the "right to private property" and provide four rationales for this right.
Answer: Answers will vary
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Chapter 3: Identifying Stakeholders and Issues
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83 Flashcards
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Sample Questions
Q1) When an organization is able to obtain a particular material from several suppliers they are not dependent on that supplier.
A)True
B)False
Answer: True
Q2) Describe the acute crisis stage of the Anatomy of a Crisis.
Answer: The acute crisis stage is the point at which the crisis has occurred and the damage has resulted.If the corporation is prepared,it is easier to control the response but this stage is often one where there are rapid developments which may be hard to control.
Q3) The Board of Directors determines the corporation's social responsibility initiatives.
A)True
B)False
Answer: False
Q4) Government may play several roles as a stakeholder,such as media and lender.
A)True
B)False
Answer: True
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Chapter 4: Stakeholder and Issue Analysis
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Sample Questions
Q1) A large chain of bookstores called Littera is planning to build a new store in a small town in the prairies.They are known for their large selection and low prices.Before going public,the management at Littera decides to categorize identified stakeholders using a position/importance matrix.There are three small,independent bookstores in town.They aren't considered to be a competitive concern.They would be categorized as _________________.
A) low priority stakeholders
B) antagonistic stakeholders
C) supporter stakeholders
D) problematic stakeholders
E) None of the answers.
Q2) Outline and describe the 6 steps involved in FOSTERing stakeholder relationships.
Q3) The types of latent stakeholders include all of following,except:
A) Dormant
B) Dangerous
C) Discretionary
D) Demanding
E) All are types of latent stakeholders.
Q4) Differentiate between stakeholder management and stakeholder collaboration.
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Chapter 5: Ethics of Business: The Theoretical Basis
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76 Flashcards
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Sample Questions
Q1) Which implicit bias exists when an individual shows favouritism towards an association to which they are a member?
A) Prejudice
B) Favouritism
C) Overclaiming credit
D) Conflict of interest
Q2) The financial analyst for a mining company is asked to estimate the return on investment for a new business opportunity.She informs the CEO that she thinks that ethical issues require consideration because the company's behaviour will be judged on the basis of environmental impact.Ethical judgments,she suggests,should be made applying which level of ethical assessment?
A) Level one
B) Level two- value judgment
C) Level two - moral standards
D) Level three
E) None of the answers.
Q3) Identify the four forms of justice.
Q4) Summarize the influences on ethical behaviour.
Q5) Compare implicit prejudice bias to overclaiming credit bias.
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Chapter 6: Ethics of Business: Management and Leadership
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Sample Questions
Q1) Can ethics audits discover the potential for unethical behaviour or are they limited to discovering actual instances of unethical behaviour?
Q2) Ethical mistakes have occurred throughout history,they are inevitable,and they come in waves or cycles.
A)True
B)False
Q3) The simple answer to the question "Who is responsible for ethics?" is top management.The President and CEO of any corporation have the ultimate responsibility for the ethics of an organization.
A)True
B)False
Q4) Tabatha is considering whether to take advantage of some insider knowledge she has regarding a new product launch.She applies the categorical imperative in asking herself "If I do this,I should be OK with everyone else being able to do this as well."
A)True
B)False
Q5) Describe the how codes of conduct and codes of ethics aid in understanding relationships with stakeholders.
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Chapter 7: Corporate Social Responsibility: The Concept
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Sample Questions
Q1) All of the responsibilities have always existed in Carroll's pyramid of corporate social responsibility,but which two responsibilities have only become significant recently?
A) Economic and ethical responsibilities
B) Legal and managerial responsibilities
C) Managerial and economic responsibilities
D) Ethical and philanthropic responsibilities
E) Philanthropic and economic responsibilities
Q2) The argument against social responsibility is that it increases costs for the organization.
A)True
B)False
Q3) Ethical and social responsibilities have only become expectations placed on the firm in recent years.
A)True
B)False
Q4) Corporations and society are interwoven rather than distinct entities.
A)True
B)False
Q5) Corporate virtue is good for profits.Explain.
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Chapter 8: Corporate Social Responsibility: In Practice
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Sample Questions
Q1) Which of the following terms is(are) also recognized as social venture philanthropy?
A) Social venturing
B) The new philanthropy
C) High-engagement philanthropy
D) All of the above.
E) Only B and C above.
Q2) A social entrepreneur is the leader of a social enterprise,not of a non-profit organization.
A)True
B)False
Q3) Jane works for a company that considers its mandate to reduce worldwide illiteracy.Profits are distributed between shareholders and literacy programs.This business is a ________.
A) non-profit enterprise
B) social venture
C) social enterprise
D) social entrepreneur
E) corporate sponsor
Q4) Why has employee volunteerism become more important in recent times?
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Chapter 9: Measuring,reporting,and Communicating CSR
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Sample Questions
Q1) Is there a definitive relationship between CSR and profitability?
Q2) Employees may receive communication from their employers regarding performance measures and social reporting through ___________.
A) Internet
B) financial audits
C) staff meetings
D) public meetings
E) codes of conduct
Q3) Describe the Jantzi Social Index (JSI).
Q4) It was a long process,but Albert was delighted to finally have finished his social audit process.His next step is to report the findings.He develops a report following the Global Reporting Initiative (GRI) standards.This is the first time he conducted an audit with this process in mind.Which of the following 'clusters' of his completed report are not required under the GRI?
A) Auditability
B) Neutrality
C) Relevance
D) Timeliness
E) Responsibility
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Chapter 10: Regulating Business Ethics and Responsibilities
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Sample Questions
Q1) Corporate lobbying is seen by many as an undesirable activity.
A)True
B)False
Q2) Business lobbying has grown in frequency and power over recent years.
A)True
B)False
Q3) The government invests heavily in many businesses.Owning equity shares in a company is an example of public-private partnership.
A)True
B)False
Q4) The Canadian Radio-Television Telecommunications Commissions exemplifies which form of regulation?
A) Self-regulation
B) Negotiated regulation
C) Mandated regulation
D) Industry regulation
E) Quasi-government regulation
Q5) Why are some people so critical of lobbying?
Q6) What is meant by a public-private partnership (PPP)?
Q7) How does the trend toward privatization provide opportunities for business?
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Chapter 11: Responsible Ownership and Governance
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Sample Questions
Q1) Counterarguments against the active role of professional money managers include all of the following,except:
A) Boards of directors may not adequately represent owners.
B) They face too much pressure to product results which are reflected in fund performance measures.
C) The personal power of money managers may distort decision-making.
D) Money managers have too much power.
E) They have the means and resources to coordinate actions amongst other money managers.
Q2) The TSE is the largest stock exchange in Canada and is a self-regulatory agency.
A)True
B)False
Q3) One of the main focuses of the Board of Directors is the fiduciary operations of the corporation.
A)True
B)False
Q4) Passive shareholders are typically owners of a small amount of shares holdings.
A)True
B)False
Q5) Differentiate between "direct" and "indirect" owners.
Page 13
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Chapter 12: Ethics and Responsibilities in the Workplace and Marketplace
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Sample Questions
Q1) Competitive pressures have resulted in unethical business practices.
A)True
B)False
Q2) One argument against the 'backing off the fast track' phenomenon is that work has become an obsession to many.
A)True
B)False
Q3) There are eight stages in the supply chain.Which of the following is not a stage in the downstream position of the chain?
A) Raw materials
B) Local processing
C) Quality control
D) Transportation
E) Distribution
Q4) There are calls for a return to the work ethic of the past.
A)True
B)False
Q5) Employers do not have a right to know about the marital status of an employee.
A)True
B)False
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Chapter 13: Civil Society Stakeholders
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Sample Questions
Q1) Libel chill refers to the reluctance by business to share information with the media.
A)True
B)False
Q2) Which of the following is not one of the key ingredients to defining the success of an NGO-business partnership?
A) They must show leadership.
B) The corporation must be open to change.
C) Must be committed.
D) Shared goals.
E) Business ability to ignore idealist NGO.
Q3) Policy development institutes in Canada are not:
A) Think tanks
B) Research organizations
C) Lobbyists
D) Focused on influencing government policy
E) Representative of particular ideologies
Q4) A resistance response to NGO pressure is the most advantageous to businesses.
A)True
B)False
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Chapter 14: The Environment and Business Responsibilities
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Sample Questions
Q1) Greenwashing is considered a "token response" to environmental concerns.
A)True
B)False
Q2) The reputations of corporations who address environmental issues are not likely to be enhanced because these behaviours are now expected of all businesses.
A)True
B)False
Q3) ENGOs are groups that hold shared values or attitudes about challenges confronting the environment.
A)True
B)False
Q4) Profitability is likely reduced due to a focus on environmental concerns.
A)True
B)False
Q5) Compare the concepts of "sustainable development" to "business sustainable development".
Q6) Describe the Carbon Disclosure Project (CDP)
Q7) Who is Greenpeace Canada?
Page 16
Q8) Compare standard environmentalism to market environmentalism.
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Chapter 15: Globalization and Business Responsibilities
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Sample Questions
Q1) Outline the principles concerning community participation and environmental protection in the International Code of Ethics for Canadian Business Principles
Q2) The expectation that firms will respect domestic laws,regulations,and administrative procedures is an example of the ______________ involved in the standards of conduct applied to multinational corporations.
A) political factors
B) sociocultural objectives and values
C) employment and human resources
D) competition
E) financing
Q3) The World Bank is focused on financial and technical assistance to Africa,Asia,Latin America,and the Middle East.
A)True
B)False
Q4) Canada's ranking on the Global Competitiveness Index report has been falling because of inadequate research institutions and government purchasing policies.
A)True
B)False
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Chapter 16: The Socialization of Capitalism
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Sample Questions
Q1) An effective strategy for a corporation wishing to develop a CSR oriented strategy is to purchase an existing company that has a recognized CSR strategy.
A)True
B)False
Q2) A corporation's values can be derived from:
A) personal experiences
B) family backgrounds
C) religious training
D) educational systems
E) All of the above
Q3) Which of the following statements is not true regarding the establishment of objectives?
A) Most objectives are established at the beginning of the process of strategic management.
B) Most corporations have multiple objectives.
C) Objectives regarding social responsibilities reflect personal values and beliefs.
D) The mission statement is an objective stated in general terms.
E) Objectives are the ends the corporation seeks to achieve.
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