CSR Final Exam Questions with Complete Solutions

CSR Final Exam Questions with Complete Solutions True or False: Ethics are beliefs about what is right and wrong or good and bad. - ANSWER True True or False: Ethical behavior is behavior that individual beliefs and social norms define as being wrong and bad. - ANSWER False True or False: Business Ethics refers to ethical or unethical behaviors by employees in the context of their personal lives. - ANSWER False True or False: Some ethical and unethical behaviors fall into gray areas while others are widely agreed upon. - ANSWER True True or False: A conflict of interest occurs when an activity may benefit the individual to the detriment of his or her employer. - ANSWER True Behavior that conforms to individual beliefs and social norms about what is right and good is referred to as: C) Ethical Behavior D) GAAP B) Social reaction A) Collusion - ANSWER C) Ethical Behavior A behavior that does not conform to accepted beliefs and social norms is defined as: A. ethical behavior B. unethical behavior C. irresponsibility D. business ethics - ANSWER B. Unethical Behavior ________ refers to ethical or unethical behaviors by employees in the context of their jobs. - ANSWER Business Ethics Why Should One Be Ethical? - ANSWER Because ethical is what one should want to be. Ethics in there very definition are what everyone should strive or naturally want to do. What was Economist Milton Friedman's view on the responsibility of Business? - ANSWER He believed that it is not the job of a business executive directors to do anything other than make money for the stakeholders and that they are not qualified to do anything but this. They do not have the education or the right to do anything but maximize profits. True or False: Social responsibility is an attempt by a business to balance its commitments to groups and individuals in its environment, including customers, other businesses, employees, and investors. - ANSWER True True or False: The term organizational stakeholder refers to groups, individuals, and organizations that are directly affected by the practices of an organization. - ANSWER True True or False: Whistle-blowers may report wrongdoing to their direct supervisors, as well as to outside agencies. - ANSWER True True or False: Social responsibility must start at the bottom of the organization. - ANSWER False Currently Big lots, has reward program for its customers, where they receive coupons after every third purchase they make, they also have a "friends and family day" where a rewards members will receive _______________ off their entire purchase just for being apart of the big lots rewards program. 20% 5% 10$ 10% - ANSWER 20% True or False: When two or more firms agree to collaborate on such wrongful acts as price fixing it's considered price gouging. - ANSWER False