the moral case for why businesses should act in a socially responsible manner course hero

What is the business case for social responsibility?

It generates internal operating benefits (as concerns employee recruiting, workforce retention, employee morale, and training costs) The business case for why companies should act in a socially responsible manner includes such reasons as: Shorter supply chain

Why should Companies Act in a socially responsible manner?

E) All of these The business case for why companies should act in a socially responsible manner includes such reasons as A) helping avoid or preempt legal and regulatory actions that could prove costly. B) avoiding criticism from consumer, environmental, and human rights activist groups.

Does every business have a moral duty to be a good corporate citizen?

Every business has a moral duty to be a good corporate citizenship Which of the following is NOT a part of the business case for why companies should act in a socially responsible manner? Acting in a socially responsible manner nearly always results in higher profits and a higher stock price for shareholders

What is the moral case for why a company should actively promote?

The moral case for why a company should actively promote the betterment of society and act in a manner benefitting all its stakeholders: Acting in a socially responsible manner is in the best financial interest of shareholders Which of the following is NOT part of the moral case for why a company should actively promote the betterment of society?

What is universal ethical principles based on the collective views of multiple societies?

B) universal ethical principles based on the collective views of multiple societies form a social contract that all individuals and organizations have a duty to observe in all situations.

Why are there multiple sets of ethical standards?

A) there are multiple sets of ethical standards because what is ethical or unethical depends on local customs and social mores and can vary from one culture or nation to another.

What is ethical relativism?

Companies that adopt the principle of ethical relativism in providing ethical guidance to company personnel. A. base their standards of what is ethical and what is unethical on the Global Code of Ethical Conduct first developed in 1935 and since subscribed to by the governments of 180 countries.

What is unethical strategy?

E. unethical strategies are inconsistent with or else weaken the corporate culture. B. (1) a strategy that is unethical in whole or in part is morally wrong and reflects badly on the character of the company personnel involved and (2) an ethical strategy is good business and in the best interest of shareholders.

What is the primary objective of a company?

A) a company needs to make only a token gesture in the direction of having acceptable ethical standards (usually adopting a code of ethics and instituting very light enforcement is sufficient); the primary objective is to protect the company against any fallout from unethical strategies and behavior.

What is overzealous pursuit of personal gain, wealth, and other selfish interests?

A) overzealous or obsessive pursuit of personal gain, wealth, and other selfish interests; a company culture that puts the profitability and good business performance ahead of ethical behavior; and heavy pressures on company managers to meet or beat performance targets.

How can E be effectively made?

E) can be effectively made by executives subscribing to the damage control approach to managing a company's ethical conduct.

Why are business actions not materially different from ethical principles in general?

are not materially different from ethical principles in general because business actions may be judged in the context of societ standards of what is thically right and wrong, not by a special set of rules that apply just to business conduct

What is a company's duty to operate in an honorable manner?

a companys duty to operate in an honorable manner, provide good working conditions for employees, be a good steward of the environment, and actively work to better the quality of life in the local communities where it operates and in society at large

What are ethical standards?

the ethical standards a company should try to uphold are governed both by (1) a limited number of universal ethical principles widely recongnised as putting legitimate ethical boundaries on acton 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

What is the thesis that common moral agreement among most cultures, societies, and religions about what is ethically right and?

The thesis that common moral agreement among most all cultures, societies, and religions about what is ethically right and ethically wrong gives rise to ethnical standards that apply to members of all societies, all companies, and all business people is associated with 2

What is an immoral manager?

An immoral manager is one who 9. has few scruples, little or no integrity, is driven by single-minded pursuit of what is in his/her own self-interest, and is willing to do most anything he/she believes they can get away with.

Can you avoid paying bribes?

avoid the payment of bribes and kickbacks in all countries and in all circumstances if the payment of bribes is forbidden in its code of ethical conduct and if top management is serious about enforcing this prohibition

When is it appropriate for local moral standards to take precedence over what the ethical standards may be elsewhere?

when there are cross-country or cross-cultural differences in what is deemed ethical or unethical in business situations, it is appropriate for local moral standards to take precedence over what the ethical standards may be elsewhere.

What is the purpose of keeping the company's profits at a reasonable and acceptable level?

actions to keep the company's profits at a reasonable and acceptable level to ensure the company's products/pricing will not be viewed by the general public as obscenely high or exorbitant.

Why is it important to have a strong management team?

Because of the many managerial tasks involved and the role of leadership in strategy execution, when implementing a strategy. assembling a strong management team is especially important. Primary building blocks in a company's organizational structure do NOT include. empowered employee departments.

What is the litmus test of a company's code of ethics?

The litmus test of a company's code of ethics is. the extent to which it is embraced in crafting strategy and in the day-to-day operations of the business. The business case behind why companies should act in a socially responsible manner does NOT include. aggressive pursuit of market share, revenues, and profits.

Why does Company U have to retrain its employees?

Company U must retrain its employees who are working in a toxic culture due to widespread reports of sexual harassment.

What is Bill and Jill's final business class?

For their final business class in college, Bill and Jill have been assigned a client that needs to improve its accounting and budgeting systems. Bill received the assignment by claiming on his résumé to have majored in accounting. His consulting partner, Jill, a marketing major, learns that he never actually passed any accounting courses. Jill is deciding whether or not to overlook the false claim, since Bill is otherwise conscientious and honorable and failure to pass the course might jeopardize his graduation. In her conversation with the instructor, which question will Jill NOT raise?

Why is it important to know the cultural norms of a business?

There are important occasions when local cultural norms and morality and the circumstances of the situation determine whether certain behaviors are right or wrong, for there are no absolutes when it comes to business ethics.