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Business Ethics

Chapter 2-T/F

TermDefinition
Social responsibility refers to management’s consideration of the societal as well as the economic effects of its decisions. T
Deciding what is right or wrong in business is generally a clear-cut choice F
Social responsibility and ethical conduct generally cost more than they create in business value. F
Codes of conduct and ethical standards are playing an increasingly important role in the operation of today’s firms. T
Employees, customers, government, and the general public all have a stake in the performance of today’s organizations T
Top management plays a critical role in developing an organizational culture that encourages ethical behavior. T
Most companies today don’t have a code of conduct F
A company’s code of conduct is informal, but employees are still expected to adhere to them F
A firm whose managers set unrealistic goals for employees might possibly be inviting unethical behavior T
Social audits are formal procedures that identify and evaluate all company activities that relate to social issues T
Quantitative economic measures such as employment levels, sales, and profits are irrelevant in evaluating a firm’s social performance F
Conducting a social audit can help a firm measure its progress in meeting social responsibility objectives. T
AT&T’s commitment to hiring military veterans is an example of the company’s concern for equal opportunity employment T
The American with Disabilities Act makes discrimination against the disabled in public accommodations, transportation, and telecommunications illegal. T
American firms have found a significant competitive advantage in developing a culturally diverse and highly skilled workforce T
To avoid sexual harassment problems, many firms have established policies and employee education programs aimed at preventing such violations. T
As a way to practice corporate philanthropy, organizations often require their employees to volunteer during off hours. F
The EEOC was created to increase job opportunities for women and minorities and to help end discrimination based on race, color, religion, disability, gender, or national origin. T
Employers w/ 50 or more employees must provide unpaid leave annually for any employee who wants time off for the birth or adoption or foster of a child; care for a seriously ill relative, spouse, or self if he or she has a serious health condition/injury. T
Sexism, or discrimination based solely on a person’s gender, has been completely eliminated in today’s global business environment. F
Businesses have both a legal and an ethical requirement to eliminate sexual harassment in the workplace. T
Corporate philanthropy encompasses all efforts corporations take in order to give back to the communities in which they conduct business. F
Because investors are willing to take risks, there are no ethical requirements for managers to protect investor interests. F
Investors have legal recourse when they believe that management has not dealt honestly with them. T
The Office of Internet Enforcement protects the rights of businesses to promote their products online in any manner they choose. F
The Securities and Exchange Commission is the federal agency responsible for investigating alleged unethical or illegal financial behavior of publicly traded firms. T
Businesses are responsible for providing information to their consumers regarding any potentially dangerous products. T
Social audits measure a firm’s performance relating to such issues as employment practices, environmental responsibility, and philanthropy T
While managers may conduct internal audits on social responsibility, public opinion rarely has any real impact on business practices. F
Numerous state and federal laws related to consumerism have been established since President John F. Kennedy addressed the concept in 1962 T
Cigarettes and alcoholic beverages are examples of potentially harmful products about which corporations should inform their consumers. T
Green marketing targets consumers who care whether or not businesses demonstrate environmental responsibility T
Business ethics deal with the right and wrong actions that arise in any business environment. T
A firm must be able to prove that any claim made about the quality or superiority of a good or service has been substantiated. T
Under the Sarbanes-Oxley Act, all corporations are required to have a printed code of ethics F
It makes good sense to have all employees aware of the firm’s stance on social and ethical issues. T
Education plays an important role in earnings, despite success stories of those who dropped out of college or high school to start businesses. T
Employers are legally responsible for protecting their employees from the sexual harassment of clients and customers. T
Today, there appears to be no significant differences between the average pay of men and women. F
Programs that increase social responsibility and ethical practices in a firm may be good for public relations, but they generally cost more than they create in economic benefits. F
A new shift in the workforce shows that there will soon be more younger people working than those from the baby boomer generation T
Created by: tiffanie1719