Ethics And The Conduct Of Business 7th Edition By Boatright Test Bank

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Ethics And The Conduct Of Business 7th Edition By Boatright Test Bank

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Ethics And The Conduct Of Business 7th Edition By Boatright Test Bank

Chapter 2
Ethical Decision Making
CHAPTER SUMMARY
Ethical decision making in business is often difficult and complex. Some situations are easily handled because what one ought to do or what is right and wrong are evident. Those situations that give us pause or produce moral anguish require careful thought and ultimately an ability to engage in ethical reasoning. This chapter contributes to an understanding of ethical decision making by offering a division of business ethics into two parts: an ethics of the market and an ethics of roles and relationships, including firms. In business, we deal with some parties purely as market actors who are on the other side of a market transaction or exchange. For such market activity, certain moral rules or standards apply. Much of business, however, involves roles and relationships and takes place in firms or organizations. These roles, relationships, and firms arise in a market, but, by mutual agreement in a market, we take ourselves out of the market and govern our actions by a different ethics, the ethics of these roles and relationships.
When we attempt to think through the ethical issues that arise in business, we are engaging in ethical reasoning, which may be conducted on different levels. Ethical theories, which are presented in the next chapter, can guide ethical reasoning on the highest level by providing the most comprehensive and fundamental grounds for our moral beliefs and judgments. Fortunately, substantial moral arguments can be constructed that do not require an understanding of these theories. Most of our everyday ethical reasoning employs familiar ethical concepts and principles that can be readily understood and applied. Accordingly, this chapter provides a framework of seven basic ethical principles that are sufficient for most business decision making. For those who seek more, though, the next chapter provides a survey of the main philosophical theories of ethics.
CHAPTER OBJECTIVES
I
dentify the ethical duties and obligations of business that arise from the market.
I
dentify the ethical duties and obligations of business that arise from roles and relationships.
D
escribe the philosophical bases of ethical reasoning.
D
escribe the psychological bases of ethical reasoning.
SUGGESTED DISCUSSION PROMPTS
1.
What is ethically required of participants in a market economic system?
2.
In what ways do participants in a market system have to depend upon each other?
3.
In what ways do ethical considerations work against perfect operation of a market economy?
4.
How does the prisoners dilemma reflect the limitations of a free market system?
5.
What capacities are required of an agent to engage in ethical reasoning?
2012 Pearson Education, Inc. All Rights Reserved.
5
ASSESSMENT FOR IN-CLASS USE
The following assessment has been created for in-class use. This assessment may be available through Pearsons MyTest websiteallowing for easy access for creating your own tests. This assessment may also be offered in a Blackboard/Angel/D2L/WebCT package. Please contact your local Pearson sales representative to learn about the options available. Visit, http://www.pearsonhighered.com/replocator.
Multiple Choice Questions
Choose the BEST possible answer for each of the following.
1.
A market economy is based fundamentally on .
A.
ethical motivations
B.
the profit motive
C.
human welfare
D.
manufacturing
Answer: B
2.
A market with perfect competition would require .
A.
agents to not be rational
B.
that there be no contracts
C.
that ethics not be necessary
D.
ethical guidelines to be legally codified
Answer: C
3.
Fraud is unethical because .
A.
all parties must have access to pertinent information
B.
no one may be permitted to profit too much
C.
market economies require freedom of action
D.
the market requires everyone to further their own interests
Answer: A
4.
The difference between Homo economicus and actual people is that .
A.
Homo economicus is capable of making any decision
B.
Homo economicus pursues many different interests
C.
actual people pursue their own self-interest
D.
actual people are less than perfectly rational
Answer: D
5.
A market economy alone cannot sustain public goods because .
A.
no one would want to take advantage of public goods
B.
everyone would be free riders if they could be
C.
people would try to sell each other public goods
D.
participants in a market economy are imperfectly rational
Answer: B
2012 Pearson Education, Inc. All Rights Reserved.
6
6.
Market outcomes lead to unequal outcomes mainly because .
A.
it involves random processes
B.
participants have differing levels of skill
C.
free markets are inherently unjust
D.
there is government interference
Answer: B
7.
A fiduciary has the special responsibility to .
A.
care for anothers financial interests
B.
sell goods as efficiently as possible
C.
provide as much information as possible
D. t
ake a professional interest in anothers success
Answer: A
8.
The ethical requirements that are specific to professionals arise in part from .
A.
their duty not to profit at others expense
B.
the implicit contract that they have with other professionals
C.
the duties they owe to their governing association
D.
their specialized knowledge and responsibilities
Answer: D
9.
The internal workings of firms are founded on .
A.
markets
B
. agents
C
. roles
D
. relationships
Answer: D
1
0. The ethical concept of dignity most centrally involves .
A.
treating all persons equally
B.
disclosing all information that is needed by others
C.
recognizing the intrinsic value of persons or other entities
D.
behaving with high standards of virtue
Answer: C
Essay Questions
1.
What are the basic components of a market system, and what assumptions are made about human behavior?
2.
What is the difference between a fiduciary and an agent? What special obligations
are characteristic of a fiduciary that is not an agent?
3.
What are the required components of the moral point of view, and how are they exercised in a business setting?

 

Chapter 8
Employment Rights
CHAPTER SUMMARY
Employee rights are important because so much of peoples lives is spent at work, and injustice on the job seriously impacts peoples lives. Justice is also a great concern to employers because workers are very sensitive to perceptions of unfair or unjust treatment and act accordingly. Employers violate employees rights at their peril. However, the extent of employee rights is uncertain. Some rights, such as the alleged rights to expression, participation, and a living wage, are arguably manifesto rights, which is to say ideals perhaps worth striving toward. Other rights, especially due process in termination, have more solid moral grounding. A key question about employee rights, though, is the extent to which they should be enforced by law. There is a considerable body of labor law that ensures fair or just treatment of workers, but on many matters, such as termination, it is questionable whether justice should be legally mandated or be achieved by more informal processes in the workplace.
CHAPTER OBJECTIVES
E
xplain the basis of the employment-at-will system.
D
escribe the issues involved in freedom of expression in the workplace.
D
escribe how just wages are determined.
SUGGESTED DISCUSSION PROMPTS
1.
Is the employment-at-will system a good one? What is the best reason for thinking so?
2.
When might the principles of employment-at-will conflict with other principles?
3.
What restrictions are permissible for employers to place on freedom of expression at work?
4.
To what extent should workers enjoy the right to participation in their company?
5.
What should workers wages be compared to in order to determine if they are just?
2012 Pearson Education, Inc. All Rights Reserved.
24
ASSESSMENT FOR IN-CLASS USE
The following assessment has been created for in-class use. This assessment may be available through Pearsons MyTest websiteallowing for easy access for creating your own tests. This assessment may also be offered in a Blackboard/Angel/D2L/WebCT package. Please contact your local Pearson sales representative to learn about the options available. Visit, http://www.pearsonhighered.com/replocator.
Multiple Choice Questions
Choose the BEST possible answer for each of the following.
1.
Employment at will means that .
A.
a worker can choose his or her job
B.
an employee can leave the company any time
C.
an employer can release an employee at any time
D.
a worker has rights to the products of his or her labor
Answer: C
2.
The argument for property rights in labor assumes that .
A.
a worker has the rights to their labor
B.
an employer has the rights to its employees time
C.
an employer has the rights to its employees labor
D.
an employer can regulate its employees use of time
Answer: A
3.
The utilitarian argument for employment at will relies on the idea that .
A.
there is an implicit contract of employment
B.
people own the products of their labor
C. e
mployers and employees both benefit from it
D.
employees have the right to freedom of expression
Answer: C
4.
The notion of due process can be used to argue against employment at will because .
A.
employees should own the products of their labor
B.
employment at will can be arbitrary
C.
property rights are most fundamental
D.
due process requires a written contract
Answer: B
5.
People are sometimes afraid to express their views at work because .
A.
it may be against the law
B
. they do not want to stand out
C
. they are afraid of what others might think
D
. they are afraid of losing their jobs
Answer: D
2012 Pearson Education, Inc. All Rights Reserved.
25
6
. The Supreme Court has found that government workers .
A.
have a right to free speech about job-related matters
B.
cannot speak to the public about their jobs
C.
have unlimited free speech since they are government workers
D.
have different free speech rights from other employees
Answer: A
7.
Workplaces are democratic insofar as .
A.
companies are structured like democracies
B.
workers are represented in company decisions
C.
companies are not arranged hierarchically
D.
companies are not headed by a single individual
Answer: B
8.
Ethical arguments for democracy in the workplace are mainly based on .
A.
productivity
B.
organizational effectiveness
C.
personal health
D.
legitimizing power
Answer: D
9.
Considerations of fair wages involve .
A.
absolute standards
B.
only comparative measures
C.
employers preferences
D.
redistribution of wealth
Answer: A
10
. Proponents of minimum wage who argue that extremely low wages are exploitative assume that .
A.
employers have no choice but to offer low wages
B.
jobs with other levels of wages are available
C.
employers could offer the same jobs at higher wages
D.
workers will not take just any job they can get
Answer: C
Essay Questions
1.
How does the concept of property rights apply to at-will employment?
2.
What are the limitations to the employment-at-will system, and how do they arise?
3.
What is the best reason for adopting a minimum wage policy? What is the best argument against that reason?

 

Chapter 14
International Business Ethics
CHAPTER SUMMARY
Operating abroad, especially in less-developed countries, creates dilemmas that lead to charges of serious ethical failings. Multinational corporations generally recognize a social responsibility and attempt to fulfill their responsibilities everywhere they are located. The major cause of occasional failures to act responsibly is not the lack of effort but the diversity of political and legal systems around the world and differences in economic development. Foreign operations give rise to challengesand also create opportunities for misconduct that simply do not exist for purely domestic enterprises.
The main quandary facing all MNCs is deciding which standards to follow. Neither of the two extreme positions is satisfactory. The familiar adage When in Rome, do as the Romans do and the opposite, When in Rome or anywhere else, do as you would at home, are both inadequate guides. Instead, this chapter offers guidelines for developing special standards for the conduct of international business that can be applied to such matters as so-called sweatshops, foreign bribery, and human rights abuses. Ultimately, the solution to many of the ethical problems of international business lies in the development of international agreements and codes of ethics. As the guidelines for multinational corporations become more detailed and comprehensive, the need for special standards of international business may diminish, and business conduct may eventually be the same worldwide.
CHAPTER OBJECTIVES
D
escribe the kinds of ethical quandaries that specifically arise for multinational corporations.
I
dentify the moral concepts that have emerged as applying to international business.
I
dentify the issues that arise surrounding international variations in wages and working conditions.
SUGGESTED DISCUSSION PROMPTS
1.
Should a corporation try to impose its values on corporations from other cultures?
Why or why not?
2.
Can corporations across cultures potentially agree on all ethical issues, or are some differences insurmountable?
3.
How can corporations operate internationally so as not to place other peoples at a
disadvantage?
4.
Why is the issue of bribery likely to arise when doing business in certain international settings?
5. W
hat can and should corporations do to curtail human rights abuses in international operations?
2012 Pearson Education, Inc. All Rights Reserved.
44
ASSESSMENT FOR IN-CLASS USE
The following assessment has been created for in-class use. This assessment may be available through Pearsons MyTest websiteallowing for easy access for creating your own tests. This assessment may also be offered in a Blackboard/Angel/D2L/WebCT package. Please contact your local Pearson sales representative to learn about the options available. Visit, http://www.pearsonhighered.com/replocator.
Multiple Choice Questions
Choose the BEST possible answer for each of the following.
1.
Why is it not ethically sufficient for multinational corporations to simply follow the laws of the countries in which they do business?
A.
Unethical practices may be legal in other countries.
B.
Corporations are bound by the laws of their home country.
C.
Some of the laws in foreign nations may be unenforceable.
D.
Laws in other countries may unduly restrict business.
Answer: A
2.
The relativist view on confronting different systems of business ethics says that .
A.
the same ethics should be practiced in other countries as at home
B
. ethical systems do not vary greatly between different countries
C
. one should follow whatever practices are accepted in a certain place
D
. no one knows what the ethically correct way of doing business is
Answer: C
3
. The absolutist view on confronting different systems of business ethics ignores the fact that .
A
. people may disagree over the correct ethical standards
B
. ethical standards come from cultural views current in a location
C
. ethical standards in other countries may not be the same as those one is used to
D
. one may have to lower ones standards in order to business effectively
Answer: B
4
. The absolutist position on morality places the responsibility for setting standards on .
A
. the local people where business id conducted
B
. the visitor to a foreign country
C
. the government of the country where business is conducted
D
. a single impartial and ethically ideal observer
Answer: C
2012 Pearson Education, Inc. All Rights Reserved.
45
5
. The practice of respecting basic rights in international transactions ensures that .
A
. a moral minimum will be respected
B
. no ethical transgressions will take place
C
. everyone will agree on all ethical standards
D
. everyone will understand each other culturally
Answer: A
6
. One of Richard DeGeorges guidelines for multinational corporations is that .
A
. they should carry out actions that benefit their home country
B
. they should conform to the ethical expectations of the local culture
C
. they should pay their employees the same as they pay their domestic employees
D
. they should do more good than harm for the host country
Answer: D
7
. Justice must be strongly considered in international operations mainly because .
A
. multinational corporations often are not familiar with local laws
B
. foreign investment most often benefits the rich rather than the poor
C
. globalized businesses tend to make more profits than other companies do
D
. multinational corporations have a duty to aid developing countries
Answer: B
8
. An internationally agreed-upon code of ethics includes an emphasis on .
A
. profitability
B
. human rights
C
. politics
D
. abiding by the law
Answer: B
9
. Wage standards in developing countries are often very low mainly because .
A
. wages are not set by the market
B
. developing countries do not have as many factories
C
. local politics prevents workers from campaigning for higher wages
D
. workers are willing to work for much less than someone comparable in the United States
Answer: A
1
0. One of the unjust consequences of bribery is that .
A
. bribes only help bureaucracies
B
. bribes are disproportionately paid by richer corporations
C
. it leads to greater economic inequality
D
. it enriches multinational corporations
Answer: C
2012 Pearson Education, Inc. All Rights Reserved.
46
Essay Questions
1
. Compare the approaches of absolutism versus relativism for understanding cultural differences in ethics.
2
. Describe the codes of ethics that are understood to apply to all forms of international business.
3
. Explain why bribery is unethical.

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