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Exam 4: Business Ethics, Corporate Social Responsibility, Corporate Governance, and Critical Thinking

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Question 21

Multiple Choice

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Jack flipped a coin five times and each time it came up heads. His friend Atmel saw this and bet Jack that the next flip would come up tails. Atmel figured that it was overdue for a tails and so tails was a more likely outcome in the next flip. Atmel has fallen prey to:

A) sunk cost fallacy.
B) reductio ad absurdum.
C) argumentum ad hominem.
D) gambler's fallacy.

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Question 22

Multiple Choice

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"Your decision will be better for your firm and other stakeholders if you consider your selfish interest." Considering that this statement is true, which of the following prescribed guidelines for ethical decision making should you focus on?

A) Will the shareholders offer support?
B) How can I increase the number of shareholders?
C) How do the alternatives impact me, the decision maker?
D) Who are the stakeholders?

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Question 23

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_____ theory emphasizes that one should use the categorical imperative and judge an action by applying it universally.

______ requires a decision maker to ensure the maximum good for the maximum number.

The purpose of the _____ is to increase penalties for corporate wrongdoers, establish rules designed to deter and prevent future wrongdoing, and encourage and enable corporate executives to be ethical and socially responsible.

Which of the following ethical theories is closely related to the profit maximization theory?

Carol, an Acme Co. employee, regularly takes pens, paper, and other office supplies from the Acme office supply cabinet and brings them home for her husband to use in his home office. Carol defends this action by saying that: "I don't get paid enough, and besides, no one will miss the supplies." This statement is an example of:

Which of the following is a characteristic of profit maximization?

Profit maximization compels a decision maker to consider stakeholders other than the corporation and its shareholders.

The _____ requires a public company to disclose whether it has adopted a code of ethics for senior financial officers, and to disclose any change in the code or waiver of the code's application.

The Sarbanes-Oxley Act of 2002 requires public companies to have board audit committees comprising only independent directors.

Which of the following ethical theories is a deontological theory?

_____ categorizes using or manipulating others as an unethical action.

Which of the following is a prescribed guideline for ethical decision making?

Debra asks Alex, her stock broker, if she can trust his advice to purchase the stocks for Acme Co. Alex replies, "Of course you can." Debra asks, "Why should I trust you?" Alex says, with a smile, "Because I am a trustworthy person." Alex is engaging in:

Kurt is trying to decide whether or not he should drive to work everyday and has a number of questions. Will it save valuable time? Will he be adding to environment pollution? Will it add to the problems of heavy traffic on the roads? Would carpooling be a better idea? Which of the following ethical theories does Kurt adhere to?

Speedster is an automobile manufacturing company that has a factory in Seattle, Washington. It has placed Keith McShane, the operations head of the factory, in charge of investigating the firm's decision whether to move the factory to Qingdao, China. Keith is against the idea of the factory relocating to Qingdao because his fellow Americans will loose their jobs to the Chinese. Therefore, he is desperately searching for information that favors Seattle over Qingdao. Which of the following prescribed guidelines for ethical decision making will Keith need to focus on to make an unbiased, ethical decision?

The stakeholder theory of corporate social responsibility:

What three things are seen in the corporate scandals of 2002, such as Enron and WorldCom?

Which of the following attacks the speaker for his argument, not his reasoning?