Social Issues in Business Exam Review
Course Introduction
This course examines the complex relationship between business practices and contemporary social issues. Students will explore how factors such as corporate ethics, social responsibility, environmental concerns, diversity and inclusion, and stakeholder interests influence decision-making within organizations. Through case studies, discussions, and analysis of current events, the course encourages critical thinking about the impact of businesses on society and the role of ethical leadership in addressing challenges such as globalization, inequality, and sustainability. The goal is to equip students with a nuanced understanding of the responsibilities businesses hold and the strategies they can employ to contribute positively to society.
Recommended Textbook
Business Ethics Ethical Decision Making Cases 12th Edition by O. C. Ferrell
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12 Chapters
619 Verified Questions
619 Flashcards
Source URL: https://quizplus.com/study-set/2265 Page 2
Chapter 1: The Importance of Business Ethics
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51 Verified Questions
51 Flashcards
Source URL: https://quizplus.com/quiz/44996
Sample Questions
Q1) We all learn values from sources such as family, religion, and school. Why might these sources of individual values not prove very helpful when making complex business decisions?
Answer: An individual's personal moral values are only one factor in the ethical decision-making process. True, moral values can be applied to a variety of situations in life, and some people do not distinguish everyday ethical issues from business ones. Although truthfulness, honesty, fairness, and openness are often assumed to be self-evident and accepted, business-strategy decisions involve complex and detailed discussions. Many people with limited business experience suddenly find themselves making decisions about product quality, advertising, pricing, sales techniques, hiring practices, and pollution control. The values they learned from family, religion, and school may not provide specific guidelines for these complex business decisions.
Q2) Prior to the 1960s, ethical issues related to business were discussed mainly in the domain of theology or philosophy.
A)True
B)False
Answer: True
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Page 3
Chapter 2: Stakeholder Relationships, Social Responsibility, and
Corporate Governance
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50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/44997
Sample Questions
Q1) In corporate governance, _____ is the process of auditing and improving organizational decisions and actions.
A)profit
B)loyalty
C)accountability
D)control
E)diligence
Answer: D
Q2) A stakeholder group that is absolutely necessary for a firm's survival is defined as A)direct.
B)tertiary.
C)secondary.
D)special-interest.
E)primary.
Answer: E
Q3) Social responsibility rests on a stakeholder orientation.
A)True
B)False
Answer: True
Page 4
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Chapter 3: Emerging Business Ethics Issues
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52 Verified Questions
52 Flashcards
Source URL: https://quizplus.com/quiz/44998
Sample Questions
Q1) The first step toward understanding business ethics is to
A)know your company's ethical policies.
B)know your own morals and philosophies.
C)know society's ethical policies.
D)develop ethical issue awareness.
E)develop a set of decision-making rules.
Answer: D
Q2) ________ is associated with a person who is crafty or understands right/wrong behavior but uses tricks to obtain an unfair advantage.
A)Shoplifting
B)Collusion
C)Guile
D)Shrinkage
E)Implied falsity
Answer: C
Q3) The three fundamental elements that motivate people to be fair are honesty, integrity, and equality.
A)True
B)False
Answer: False
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Chapter 4: The Institutionalization of Business Ethics
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53 Verified Questions
53 Flashcards
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Sample Questions
Q1) Which of the following is not a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act?
A)Increases the accountability and transparency of financial institutions
B)Creates a bureau to educate consumers in financial literacy
C)Creates an organization to pay the bills of low-income consumers
D)Create incentives for whistle-blowers to come forward
E)Increases oversight of the financial industry
Q2) What is a primary reason why some small businesses resist the opening of large chain retailers like Walmart or Home Depot?
A)Because the large size creates economies of scale and they can charge lower prices
B)Because the selection in the stores is too large
C)Because large retailers attract crime to neighborhoods in which they are based
D)Because community leaders do not like the top management
E)Because large retailers almost never hire local workers as employees
Q3) The primary method for resolving conflicts and serious business disputes is through the use of self-regulation.
A)True
B)False
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Chapter 5: Ethical Decision Making
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58 Verified Questions
58 Flashcards
Source URL: https://quizplus.com/quiz/45000
Sample Questions
Q1) Normative business ethics takes into account the _____ realities outside the legal realm in the form of industry standards.
A)Descriptive
B)Political
C)Social
D)Economic
E)Normative
Q2) _____ involves subordinates simply following the directives of a superior without question. It demonstrates the influence that significant others can exert in the workplace.
A)Obedience to authority
B)Locus of control
C)Opportunity
D)Transactional leadership
E)Immediate job context
Q3) A firm's core values provide a blueprint into the firm's purpose as well as how it views ethical decision making and prioritizes stakeholders.
A)True
B)False
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Chapter 6: Individual Factors: Moral Philosophies and Values
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49 Verified Questions
49 Flashcards
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Sample Questions
Q1) Through time, an act can come to be viewed as unethical under which of the following philosophies and perspectives?
A)The relativist perspective
B)Teleology
C)Deontology
D)Egoism
E)Rule deontology
Q2) _____ justice considers the processes and activities that produce the outcome or results.
A)Disruptive
B)Procedural
C)Interactional
D)Communications
E)Evaluative
Q3) The moral philosophy of idealism is a branch of the economic value orientation that views ethics as whether an act produces more economic value for its effort.
A)True
B)False
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Chapter 7: Organizational Factors: the Role of Ethical
Culture and Relationships
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52 Verified Questions
52 Flashcards
Source URL: https://quizplus.com/quiz/45002
Sample Questions
Q1) New employees in bureaucratic organizations usually have ___________ into the basic operating rules and procedures for getting things done.
A)limited group consensus
B)much impact
C)consistent control
D)strong feedback
E)limited input
Q2) Which of the following statements about power is true?
A)The five bases of power are mutually exclusive.
B)People generally use only one base of power to effect change in others.
C)Expert power exists when one person takes actions that will lead that person and others to achieve their mutual objectives.
D)Power can be used to motivate individuals ethically or unethically.
E)The use of power is unethical.
Q3) Describe the different kinds of power. Are some types of power more likely to result in ethical behavior than others?
Q4) Committees, work groups, and teams are all types of formal groups.
A)True
B)False
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Chapter 8: Developing an Effective Ethics Program
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49 Verified Questions
49 Flashcards
Source URL: https://quizplus.com/quiz/45003
Sample Questions
Q1) Which of the following is the most comprehensive?
A)Code of values
B)Code of conduct
C)Code of ethics
D)Statement of values
E)Statement of principles
Q2) To ensure that an ethics program addresses the needs of the average employee, it should include all of the following except
A)feedback from employees across the firm.
B)a question-and-answer section.
C)additional resources for guidance.
D)lengthy legal documents.
E)checklists, illustrations, and cartoons where appropriate.
Q3) With regard to ethics, training and communication initiatives should reflect
A)the structure of the board of directors.
B)the organization's stock performance.
C)the organization's size.
D)the unique characteristics of an organization.
E)the self-interest of the CEO.
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Page 10
Chapter 9: Managing and Controlling Ethics Programs
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50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/45004
Sample Questions
Q1) A disclaimer of opinion for an audit states that the financial statements are clearly stated.
A)True
B)False
Q2) Shared values among employees are the glue of successful management.
A)True
B)False
Q3) _________ include management's commitment to the ethics program and the methods or system for ethics evaluation.
A)Shared values
B)Formal controls
C)Financial controls
D)Process controls
E)Output controls
Q4) Which of the following is important in defining the scope of the audit process?
A)The types of teams involved in the process
B)Opportunities the business has to manage ethics
C)Who has been assigned to oversee the audit
D)Government regulations outlining the process
E)Deciding on how to verify the results
Page 11
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Chapter 10: Globalization of Ethical Decision Making
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55 Verified Questions
55 Flashcards
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Sample Questions
Q1) How can differences in two countries' cultures create ethical issues in business?
Q2) What is a major role of the International Monetary Fund (IMF)?
A)It determines the credit ratings of countries.
B)It is the lender of last resort for individuals who cannot secure other types of loans.
C)It functions as a collection agent for global banks.
D)It makes short-term loans to member countries that have deficits and provides foreign currencies for its members.
E)It provides mortgage loans to international home buyers.
Q3) The _____ was a result of a meeting in which international leaders decided that primary responsibility for the regulation of monetary relationships among nations should rest in an external body.
A)United Nations
B)North American Free Trade Agreement
C)World Trade Agreement
D)World Bank
E)International Monetary Fund
Q4) Discuss the ethical issues associated with multinational corporations.
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12
Chapter 11: Ethical Leadership
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59 Verified Questions
59 Flashcards
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Sample Questions
Q1) Discuss the differences between the five styles of conflict management and provide an example for each conflict management style.
Q2) When managers overlook or stifle the importance of core values in their business decisions, this is known as
A)Leader-follower congruence
B)Groupthink
C)Institutionalization
D)Group polarization
E)Normative myopia
Q3) The most effective leaders possess the ability to manage themselves and their relationships with others effectively, a skill known as A)conflict management.
B)group theory.
C)collaboration.
D)emotional intelligence.
E)leader-follower theory.
Q4) Describe and differentiate between a compliance-based approach and an integrity-based approach to leadership. Which approach is preferred?Justify your response.
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Chapter 12: Sustainability: Ethical and Social Responsibility
Dimensions
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41 Verified Questions
41 Flashcards
Source URL: https://quizplus.com/quiz/45007
Sample Questions
Q1) Wind power holds great promise for the United States because of the _____________, and experts believe wind energy could meet as much as 20 percent of the nation's energy needs.
A)Rocky Mountains
B)Everglades
C)Great Lakes
D)Pacific Rim
E)Great Plains
Q2) Which of the following is an example of sustainability?
A)Recycling
B)Donating money
C)Building schools
D)Helping children learn
E)Building roads
Q3) All of these are ways of reducing pollution, except
A)designing environmentally friendly buildings.
B)recycling.
C)greenwashing.
D)source reduction.
E)sustainable agriculture.
Page 14
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