How does a company's unethical behaviors risk doing direct damage to a company's creditors? Show It could lead to shunning by customers. It could lead to default on loans due to potential business fallout. It could result in lower stock prices and lower returns. It could make recruiting and retaining talented employees difficult. It could result in diminished business reputation. It could lead to default on loans due to potential business fallout. Ethical principles as they apply to the conduct of personnel and business decisions deal chiefly with standards a company has about what is right and wrong insofar as the conduct of its business is concerned and about what behaviors are expected of company personnel. involve the rules a company's top management and board of directors make about "what is right" and "what is wrong." are generally less stringent than the ethical principles for society at large because it is well understood that businesses should not be expected to operate any differently than what the law requires of them. deal chiefly with the behaviors that a company's board of directors expects of all company personnel in both their conduct on the job and off the job. deal primarily with the company's duty to comply with legal requirements and conform to ethical norms of society, in general. deal primarily with the company's duty to comply with legal requirements and conform to ethical norms of society, in general. Senior executives can ensure compliance with the ethical code of conduct by considering whether the proposed action is fully compliant and in harmony with the code of ethical conduct and whether stakeholders would consider anything ethically objectionable. the code of conduct was accepted by rivals. the code of conduct is rejected by the market and accepted by employees. to eliminate the need to execute a code of conduct at all. the creation of the code of conduct should be handled by executives or employees. the proposed action is fully compliant and in harmony with the code of ethical conduct and whether stakeholders would consider anything ethically objectionable. The school of ethical universalism holds that concepts of right and wrong are governed by the Global Code of Ethical and Social Morality. the most fundamental conceptions of right and wrong are universal and apply to members of all societies, all companies, and all businesspeople. concepts of right and wrong are universal within countries but not across countries and cultures. concepts of right and wrong are not absolute and leave room for deviation from country to country or circumstance to circumstance. there are multiple sets of standards concerning what is ethically right or wrong that are universally applicable to citizens of a country. the most fundamental conceptions of right and wrong are universal and apply to members of all societies, all companies, and all businesspeople. The
business case for why companies should act in a socially responsible manner includes such reasons as it is not in the best interest of shareholders. can lead to decreased buyer patronage. can increase costs and reduce employee retention. generates internal operating benefits (as concerns employee recruiting, workforce retention, employee morale, and training costs). increases the risk of reputation-damaging incidents. generates internal operating benefits (as concerns employee recruiting, workforce retention, employee morale, and training costs). According to integrative social contracts theory, the ethical standards a company should try to uphold are governed both by (1) a limited number of universal ethical principles that are widely recognized as putting legitimate ethical boundaries on actions and behavior in all situations and (2) the circumstances of local cultures, traditions, and shared values that further prescribe what constitutes ethically permissible behavior and what does not—but universal norms always take precedence over local ethical norms. are governed by each country's Code of Required Ethical Conduct, which sets forth that each individual/group/business/organization has a "social contract" to observe the ethical and moral standards that the country has adopted. should never be absolute but rather always provide some wiggle room according to the circumstances of the situation. should be determined by the company's board of directors. are governed by the school of ethical universalism. are governed both by (1) a limited number of universal ethical principles that are widely recognized as putting legitimate ethical boundaries on actions and behavior in all situations and (2) the circumstances of local cultures, traditions, and shared values that further prescribe what constitutes ethically permissible behavior and what does not—but universal norms always take precedence over local ethical norms. Which of the following is NOT a key question that senior executives must ask whenever a new strategic initiative is under review? Would the potential outcome of the proposed action pose a risk of embarrassment? Is there anything in the proposed action that could be considered ethically objectionable? Are any conflicts or concerns evident between the proposed action and our core values? Is what we are proposing to do fully compliant with our code of ethical conduct? Is it apparent that this proposed action is in harmony with our core values? Would the potential outcome of the proposed action pose a risk of embarrassment? The degree of
cross-country variability in paying bribes and kickbacks to grease business transactions is ethically acceptable according to the principle of ethical universalism and ethically unacceptable according to the principle of ethical relativism. is one of the thorniest ethical problems that multinational companies face because paying bribes is normal and customary in some countries and ethically or legally forbidden in others. is more acceptable in dealing with a company's suppliers than in dealing with a company's customers. is acceptable to immoral managers but not to amoral managers. violates ethical principles of right and wrong in all countries. is one of the thorniest ethical problems that multinational companies face because paying bribes is normal and customary in some countries and ethically or legally forbidden in others. A company that promotes
carpooling among its employees, has cut its printer-paper usage in half, and has installed solar panels on its roof is an example of a corporate social responsibility action to ensure the company operates honorably and ethically. enhance workplace amenities and employee well-being. protect and sustain the environment. promote workforce diversity. support philanthropy and participate in community service. protect and sustain the environment. The moral case for why a company should actively promote the betterment of society and act in a manner benefitting all its stakeholders is based on the conviction that improving the well-being of society ranks higher in priority and is certainly nobler than making a profit and serving the interests of shareholders. boils down to "it's the right thing to do. is based on the principle of treating people fairly and with respect. is based on the principle that business activities lack real legitimacy and have few socially redeeming qualities unless and until a company exerts a significant and sincere effort to give something back to the community. rests on the principle that a business is duty bound to fulfill its social contract to serve the interests of all stakeholders in a business enterprise. boils down to "it's the right thing to do. Which of the following is NOT part of the moral case for why a company should actively promote the betterment of society? Most business leaders can be expected to acknowledge that socially responsible actions and environmental sustainability are important and that businesses have a duty to be good corporate citizens. Every business has a duty to do what's best for shareholders while operating honorably, provide good working conditions to employees, and be a good environmental steward. In return for society granting a business a "license to operate" and not be unreasonably restrained in its pursuit of a fair profit, a business is obligated to act as a responsible citizen and do its fair share to promote the general welfare. Every action a company takes can be interpreted as a statement of what it stands for. Acting in a socially responsible manner is in the best financial interest of shareholders. Acting in a socially responsible manner is in the best financial interest of shareholders. Which of the following is true of the school of ethical universalism? They are ethical principles embodied in international law that all societies and countries are obliged practice. They are ethical principles that set forth the traits and behaviors considered virtuous and that a good person is supposed to believe in and display. It is mandatory that the standards of what's ethical and what's unethical be applied universally to all businesses in all countries irrespective of local business traditions and local business norms. The standards of what constitutes ethical and unethical behavior in business situations are partly universal, but in the main are governed by local business norms. All societies and countries apply essentially the very same set of universally defined ethical principles of right and wrong in judging the ethical correctness of business behavior. They are ethical principles that set forth the traits and behaviors considered virtuous and that a good person is supposed to believe in and display. which one of the following is NOT a key element of integrated social contracts theory? Universal ethical norms always take precedence over local ethical norms. Universal ethical principles or norms leave some "moral free space" for the people in a particular country (or local culture or even a company) to make specific interpretations of what other actions may or may not be permissible within the bounds defined by universal ethical principles. Commonly held views about what is morally right and wrong form a "social contract" (contract with society) that is binding on all individuals, groups, organizations, and businesses in terms of establishing the line between ethical and unethical behaviors. Universal ethical principles apply in those situations where most all societies—endowed with rationality and moral knowledge—have common moral agreement on what is wrong and thereby put limits on what actions and behaviors fall inside the boundaries of what is right, and which ones fall outside. Integrated social contracts theory rejects the slippery slope of ethical relativism and embraces ethical universalism. Integrated social contracts theory rejects the slippery slope of ethical relativism and embraces ethical universalism. The strength of the beliefs underlying ethical universalism is that it draws upon the collective views of multiple societies and cultures to put some clear boundaries on what constitutes ethical business behavior and what constitutes unethical business behavior no matter what country or culture a company is operating in. it leaves room for thinking that concepts of right and wrong can be varying shades of gray. ethical standards are objectively determined by religious and moral experts. ethical universalism recognizes significant variation in basic moral standards according to local cultural beliefs, local religious beliefs, and social mores. what is deemed right or wrong, fair or unfair, moral or immoral, ethical or unethical is (or should be) grounded in religious doctrine and applied strictly to all business situations. it draws upon the collective views of multiple societies and cultures to put some clear boundaries on what constitutes ethical business behavior and what constitutes unethical business behavior no matter what country or culture a company is operating in. Visible costs that
are incurred by companies and imposed for ethical wrongdoing include all of the following EXCEPT lower stock prices. government fines and penalties. civil penalties arising from class-action lawsuits or other litigation. lower dividends for shareholders. legal and investigative costs. legal and investigative costs. Ethical principles in business are generally less stringent than the ethical principles for society at large. concern the rules each company's top management and board of directors make about "what is right" and "what is wrong." are generally more stringent than the ethical principles for society at large. deal chiefly with the actions and behaviors required to operate companies in a socially responsible manner. are not materially different from ethical principles in general. are not materially different from ethical principles in general. According to integrated social contracts theory, the ethical standards a company should try to uphold are governed by the school of ethical universalism. are governed by each country's Code of Required Ethical Conduct, which sets forth that each individual/group/business/organization has a "social contract" to observe the ethical and moral standards that the country has adopted. should be determined by the company's moral managers. should be absolute and avoid wiggle room according to the circumstances of the situation. are governed both by a limited number of universal ethical principles and the circumstances of local cultures, traditions, and shared values. are governed both by a limited number of universal ethical principles and the circumstances of local cultures, traditions, and shared values. According to the ethical relativism school of thinking, there can be no one-size-fits-all template (set of authentic ethical norms) against which to gauge the conduct of company personnel, due to cross-cultural differences in ethical standards. Correct a company should have a different set of ethical standards for each country in which it operates. since there can be no one-size-fits-all set of authentic ethical norms, it is appropriate for each company to hold company personnel to observing the company's code of ethical conduct. only respected religious experts can provide companies with a higher order moral compass. the best source of ethical standards in each country where the company operates is that country's adopted Code of Required Ethical Conduct. there can be no one-size-fits-all template (set of authentic ethical norms) against which to gauge the conduct of company personnel, due to cross-cultural differences in ethical standards. Correct How do ethical principles apply to businesses? They are generally less stringent than the ethical principles for society at large. They chiefly deal with the actions and behaviors required to operate companies in a socially responsible manner. They are not materially different from ethical principles in general. They chiefly deal with the rules each company's top management and board of directors make about "what is right" and "what is wrong." They are generally more stringent than the ethical principles for society at large. They are not materially different from ethical principles in general. Which of the following builds a moral case for corporate social
responsibility and environmentally sustainable business practices? A strong commitment to socially responsible behavior reduces the risk of reputation-damaging incidents. Opportunities for revenue enhancement may also come from CSR and environmental sustainability strategies. Well-conceived CSR strategies and sustainable business practices are in the best long-term interest of shareholders. Socially responsible actions and sustainable business practices can lower costs and enhance employee recruiting and workforce retention. A business engages in ordinary decency and civic-mindedness, and contributes to society's well-being. A strong commitment to socially responsible behavior reduces the risk of reputation-damaging incidents. The contention that ethical standards should be governed both by (1) a limited number of universal ethical principles that are
widely recognized as putting legitimate ethical boundaries on actions and behavior in all situations and (2) the circumstances of local cultures, traditions, and shared values that further prescribe what constitutes ethically permissible behavior and what does not are the basic principles of the global corruption standards published by Transparency International. the Global Code of Ethical and Social Morality developed by the United Nations. the school of ethical relativism. the school of ethical universalism. integrative social contracts theory. integrative social contracts theory. The strength of the beliefs underlying the moral case for an ethical strategy relates to all EXCEPT which of the following? It involves managers with high ethical principles and standards who are advocates of a corporate code of ethics and strong ethics compliance and are genuinely committed. It starts with managers who walk the talk in displaying the company's stated values. It starts with managers who understand there is a big difference between adopting values statements superficially and truly accepting a company's actual strategy and business conduct. It starts with managers that involve themselves in creating strategies based on risks and loss of reputation that implementing an unethical strategy can cost. It begins with managers who themselves have strong character (for example, who are honest, have integrity, and truly care about how they conduct a company's business). It starts with managers that involve themselves in creating strategies based on risks and loss of reputation that implementing an unethical strategy can cost. Cultural demands to employ unethical means if circumstances become challenging can
prompt clever ways to operate outside established policies to boost profits. company authorization to observe what's right. a moral work climate. increased observance of ethical strategic actions. otherwise dishonorable people to behave ethically. clever ways to operate outside established policies to boost profits. Which of the following is FALSE as it concerns
the merits of why acting in a socially responsible manner is good business? Some employees feel better about working for a company committed to improving society—a condition that can contribute to lower turnover and better worker productivity. Companies with deservedly good reputations for contributing time and money to the betterment of society are better able to attract and retain employees compared to companies with tarnished reputations. To the extent that a company's socially responsible behavior wins applause from consumers and fortifies its reputation, a company may win additional patronage. The higher the public profile of a company or brand, the greater the scrutiny of its activities and the higher the potential for it to become a target for pressure group action. Acting in a socially responsible manner nearly always results in higher profits and a higher stock price for shareholders. Acting in a socially responsible manner nearly always results in higher profits and a higher stock price for shareholders. Which of the following is most likely to be morally valid from the perspective of ethical relativism? bribing a government official to allow you to transfer gambling winnings to a tax haven bribing a government official in an underdeveloped country to obtain a permit to build a hospital performing genital mutilations on nonconsenting female teens agreeing to a country's policy of prohibiting the education of females employing as laborers children under the age of nine bribing a government official in an underdeveloped country to obtain a permit to build a hospital Which of the following is a major drawback of ethical relativism?The disadvantage of ethical relativism is that truth, right and wrong, and justice are all relative. Just because a group of people think that something is right does not make it so. Slavery is a good example of this.
What are ethics based on quizlet?ethics focuses on values, rules of conduct, rights, obligations, benefits to society, fairness, or specific virtues. it does NOT relate to what? what is the difference b/w empathy and sympathy?
Which of the following are strengths of the concept of ethical universalism?Which of the following are strengths of the concept of ethical universalism? The concept of ethical universalism helps multinational companies set ethical standards that apply to all personnel. Ethical universalism draws from the ethical views and traditions of numerous societies and cultures.
What does it mean to be ethical quizlet?The discipline relating to right and wrong, moral duty and obligation, moral principles and values, and moral character; a standard for honorable behavior designed by a group with expected conformity.
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Which of the following is most likely to be morally valid from the perspective of ethical relativism quizlet?
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