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Parkway West High School Glenn Business Management Chapter 1 / 2 test #1 Define efficiency perspective A: B: C: D: A manager’s responsibility is to maximize profits for the owners of the business. The efficiency perspective assumes that markets are competitive and that competitive forces move firms toward fulfilling societal needs as expressed by consumer demand. #2 What are some concerns with the efficiency perspective? A: B: C: D: Firms that do not respond to consumers’ demands such as in products, price, delivery, safety, etc. fear that they will go out of business. #3 The choice between two competing but arguably valid options, have confronted people throughout history are A: Ethical dilemmas B: Managerial ethics C: Efficiency perspective D: Externalities A Ethical dilemmas #4 Decisions that are contrary to an individual’s stated beliefs and policies of the company A: Ethical lapses B: Managerial Ethics C: Efficiency perspective D: Externalities A Ethical lapses #5 Which of the following is NOT one of the four most common approaches to ethical decision making? A: Utilitarian B: Moral Rights C: Smart D: Justice C. Smart #6 Which of the four most common approaches focuses on examination of the moral standing of actions that are independent of their consequences? A: B: Justice Universal Utilitarian C: D: Moral Rights D. Moral Rights #7 Moral Intensity is the ___________to which people see an issue as an ethical one. A: degree B: measure C: factor D: a. degree #8 The six components of Moral Intensity are; magnitude of the consequences, social consensus, probability of effect, temporal immediacy, proximity, and _____, of effect. A: proximity B: intensity C: concentration D: concentration #9 This type of firm tends to obey the letter of the law but does not make changes that might restrict profits if they are not required to? A: Defenders B: Accommodators C: Reactors D: Anticipators B. Accommodators #10 They tend to fight efforts that they see as resulting in greater restriction and regulation of their ability to maximize profits? A: Defenders B: Accommodators C: Reactors D: Anticipators A. Defenders #11 A code of ethical conduct is… A: A formal one-page to three-page B: A compilation of various texts statement outlining the types of describing the financial profile of a behavior that are and are not company acceptable C: A book on how to manage D: A video about financial firms advising A: A formal one-page to three-page statement outlining the types of behavior that are and are not acceptable #12 Which of the following have a significant impact on ethical decision making? A: Managers B: Robbers D: Plants outside of the C: Company pets company A: Managers #13 The three-criteria model that helps managers focus on social areas where there is the highest possibility of creating a shared value for the business and society is known as what? B: Strategic Corporate Social A: Universal Approach Responsibility Perspective D: Social Responsibility Efficiency Perspective Perspective B: Strategic Corporate Social Responsibility Perspective #14 Suppose you are a Wal-Mart manager. You observe that the labor- intensive nature of your business places a lot of emphasis on workers. What approach of the Strategic Corporate Social Responsibility Perspective are you using? Inside out A: B: Outside in C: Outside out D: None of these A Inside out #15 Describe the three different approaches of the Strategic Corporate Social Responsibility Perspective (inside out, outside in, and outside out). A: B: C: D: • Inside out – look inside the company at issues that are more rather than less important as a function of the company’s strategy and business activities • Outside in – look outside the company at issues that the company has an impact on • Outside out – look at social issues in general in terms of the extent to which they are problematic #16 Matching: Managerial ethics Ethical dilemmas Ethical lapses A: Having to make a choice B: Decisions that are contrary between two competing but to an individual’s stated beliefs arguably valid options and policies of the company C: The study of morality and D: standards of business conduct B) Ethical Dilemmas - Having to make a choice between two competing but arguably valid options C) Ethical Lapses - Decisions that are contrary to an individual’s stated beliefs and policies of the company A) Managerial Ethics - The study of morality and standards of business conduct #17 T/F Stakeholders are individuals or groups that have an interest in and are affected by the actions of an organization. A: B: C: D: True #18 T/F stakeholders include customers, employees, financiers, suppliers, communities, and society at large as well as shareholders. A: B: C: D: True #19 The Starbucks eco cup is designed to A: Help the environment B: Save money C: Attract more customers D: All of these by look Help the enviornment #20 What are the 3 approaches to guide managers? A: B: C: D: Inside-out Outside-in Outside-out #21 T/F You can corrupt actions of foreign officials, politicians, or candidates A: B: C: D: False #22 What is not a possible effect of poor managerial ethics? A: Negative publicity B: Hurt a company’s stock price C: Destroy shareholder D: Gain a lot of new customers price Gain a lot of new customers #23 T/F The company Half priced books employs people within their own community and encourages those employees to pursue their own philanthropic activities. A: B: C: D: True #24 What is the (FCPA) Foreign Corrupt Practices Act? A: a law prohibiting employees of B: Payments to foreign U.S. firms from corrupting the government officials to win actions of foreign officials, government contracts politicians, or candidates for office C: Made it illegal for U.S. firms to D: Does not prohibit payments to corrupt foreign officials, low-level government employees to politicians, or candidates perform their duties a. - a law prohibiting employees of U.S. firms from corrupting the actions of foreign officials, politicians, or candidates for office #25 T/ F: The FCPA prohibits payments to low-level government employees to perform their duties in a timely manner A: B: C: D: False because the FCPA does not prohibit payments to low-level employees Great Job!!!! Thank you for playing!
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