GBA 490 Exam 3 Questions and Answers Solved Correctly Rated A+
School of Ethical Universalism
School of Ethical Relativism
Integrated Social Contracts Theory - Answers What are the three ethical schools?
School of ethical universalism - Answers The _____ holds that the most fundamental conceptions of
right and wrong are UNIVERSAL and apply to members of all societies, all companies, and all
businesspeople
The school of ethical relativism - Answers What school holds that a "one-size-fits-all" template for
judging the ethical appropriateness of business actions and the behaviors of company personnel is
totally inappropriate?
School of ethical relativism - Answers According to the _____, different societal cultures and customs
have divergent values and standards of right and wrong
School of ethical relativism - Answers What ethical school states that what is ethical or unethical must
be judged in the light of local customs and social mores and can vary from one culture or nation to
another?
Integrative social contracts theory - Answers According to _____, the ethical standards a company
should try to uphold are governed by both
1. A limited number of universal ethical principles that are widely recognized as putting legitimate
ethical boundaries on behaviors in ALL situations and
2. The circumstances of local cultures, traditions, and values that further prescribe what constitutes
ethically permissible behavior
Integrated social contracts theory - Answers According to the ____, universal ethical principles based on
the collective views of multiple cultures and societies combine to form a "social contract" that all
individuals in all situations have a duty to observe.
What additional actions are not ethically permissible - Answers Within the boundaries of the social
contract in the integrated social contracts theory, local cultures and groups can specify what?
A firm's relationship to the environment and its use of natural resources - Answers Sustainability most
often concerns what?
A company's duty to operate in an honorable manner, provide good working conditions for employees,
encourage workforce diversity, be a good steward of the environment, and support philanthropic
endeavors in local communities where it operates and in society at large - Answers The term corporate
social responsibility concerns what?
, 1. Faulty oversight (enabling the unscrupulous pursuit of personal gain and self-interest)
2. Heavy pressures on company managers to meet or beat short-term performance targets
3. A company culture that puts profitability and business performance ahead of ethical behavior -
Answers What are the 3 main drivers of unethical business?
1. A strategy that is unethical is morally wrong and reflects badly on the character of the company and
its personnel
2. An ethical strategy can be good business and serve the self-interest of shareholders - Answers Why
should a company's strategy be ethical?
1. Actions to ensure the company operates honorably and ethically
2. Actions to support philanthropy, participate in community service, and better the quality of life
worldwide
3. Actions to protect and sustain the environment
4. Actions to enhance employee well-being and make the company a great place to work
5. Actions to promote workforce diversity - Answers 5 Components of a Corporate Social Responsibility
Strategy
Economic
Environmental
Social - Answers What is the triple bottom line relating to corporate social responsibility?
Ethics - Answers ____ concerns standards of right and wrong
1. Visible costs
2. Internal administrative costs
3. Intangible costs - Answers Business ethics failures can result in three types of costs:
1. Valuable social benefits
2. Fulfill customer needs in a superior fashion - Answers CSR strategies and environmental sustainability
strategies that provide both ____ and ____ can lead to competitive advantage
The value the company creates
The costs it imposes on society - Answers Under the concept of the triple bottom line, profit includes
____ and _____.
School of Ethical Universalism
School of Ethical Relativism
Integrated Social Contracts Theory - Answers What are the three ethical schools?
School of ethical universalism - Answers The _____ holds that the most fundamental conceptions of
right and wrong are UNIVERSAL and apply to members of all societies, all companies, and all
businesspeople
The school of ethical relativism - Answers What school holds that a "one-size-fits-all" template for
judging the ethical appropriateness of business actions and the behaviors of company personnel is
totally inappropriate?
School of ethical relativism - Answers According to the _____, different societal cultures and customs
have divergent values and standards of right and wrong
School of ethical relativism - Answers What ethical school states that what is ethical or unethical must
be judged in the light of local customs and social mores and can vary from one culture or nation to
another?
Integrative social contracts theory - Answers According to _____, the ethical standards a company
should try to uphold are governed by both
1. A limited number of universal ethical principles that are widely recognized as putting legitimate
ethical boundaries on behaviors in ALL situations and
2. The circumstances of local cultures, traditions, and values that further prescribe what constitutes
ethically permissible behavior
Integrated social contracts theory - Answers According to the ____, universal ethical principles based on
the collective views of multiple cultures and societies combine to form a "social contract" that all
individuals in all situations have a duty to observe.
What additional actions are not ethically permissible - Answers Within the boundaries of the social
contract in the integrated social contracts theory, local cultures and groups can specify what?
A firm's relationship to the environment and its use of natural resources - Answers Sustainability most
often concerns what?
A company's duty to operate in an honorable manner, provide good working conditions for employees,
encourage workforce diversity, be a good steward of the environment, and support philanthropic
endeavors in local communities where it operates and in society at large - Answers The term corporate
social responsibility concerns what?
, 1. Faulty oversight (enabling the unscrupulous pursuit of personal gain and self-interest)
2. Heavy pressures on company managers to meet or beat short-term performance targets
3. A company culture that puts profitability and business performance ahead of ethical behavior -
Answers What are the 3 main drivers of unethical business?
1. A strategy that is unethical is morally wrong and reflects badly on the character of the company and
its personnel
2. An ethical strategy can be good business and serve the self-interest of shareholders - Answers Why
should a company's strategy be ethical?
1. Actions to ensure the company operates honorably and ethically
2. Actions to support philanthropy, participate in community service, and better the quality of life
worldwide
3. Actions to protect and sustain the environment
4. Actions to enhance employee well-being and make the company a great place to work
5. Actions to promote workforce diversity - Answers 5 Components of a Corporate Social Responsibility
Strategy
Economic
Environmental
Social - Answers What is the triple bottom line relating to corporate social responsibility?
Ethics - Answers ____ concerns standards of right and wrong
1. Visible costs
2. Internal administrative costs
3. Intangible costs - Answers Business ethics failures can result in three types of costs:
1. Valuable social benefits
2. Fulfill customer needs in a superior fashion - Answers CSR strategies and environmental sustainability
strategies that provide both ____ and ____ can lead to competitive advantage
The value the company creates
The costs it imposes on society - Answers Under the concept of the triple bottom line, profit includes
____ and _____.
