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ALC Final Exam 4, Questions with Answers. Latest Update.

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ALC Final Exam 4, Questions with Answers. Latest Update.1. Social responsibility is ______. a. an organization's obligation to maximize its positive effects and minimize its negative effects on sta ... keholders b. principles and standards that guide behavior in the world of business c. a business's responsibility not to pollute the environment d. a business's responsibility to manufacture products that function properly without harming consumers e. charitable contributions made by a business to enhance its image 2. In response to calls for businesses to be more socially responsible, the Nobel Prize-winning economist Milton Friedman argued that blank_______. a. companies needed to set an example by making charitable contributions to non-profit organizations b. governments had a duty to promote business interests c. the primary role of a business is to maximize profits d. as an economic entity, a business should be treated no differently than a "natural person" or human being e. additional regulations were required in order to force businesses to embrace social responsibility 3. Which of the following is not one of the rewards for being ethical and socially responsible in business? a. Greater employee commitment b. Greater employee turnover c. Improved customer trust and satisfaction d. Increased investor willingness to entrust funds e. Better financial performance 4. When employees see honesty, respect, and trust applied frequently in the workplace, they blank_______. a. feel less pressure to compromise ethical standards b. observe more misconduct c. are less satisfied with their organizations overall d. feel less valued as employees 5. To be successful, relationships with investors must rest on dependability, blank________, and commitment. a. profits b. dividends c. confidence d. trust e. code of ethics 6. Obedience to authority is part of which of the following components of the ethical decision-making framework? a. Moral philosophy b. Cognitive moral development c. Individual variables [Show More]

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