Q&A Hero

Q: Globalization represents a new stage of capitalist development, this time with public institutions in place to protect society by balancing private corporate interests against broader public interests.

Q: With the transition to an information-based economy, it has become impossible for consumers and investors to have any information at their disposal than at any time in history.

Q: Transparency is a major trend behind the corporate social responsibility (CSR) phenomenon.

Q: Milton Friedman asserted that there are five major trends behind the corporate social responsibility (CSR) phenomenon.

Q: The policy of "doing well by doing good" refers to the belief that doing good for the company is just good business.

Q: Doing what is in the best long-term interest of a customer invariably fails to achieve what is best for a company.

Q: Layoffs reduce corporation costs and only affect the laid-off employees.

Q: Henry Ford II recognized the fact that corporations operate in an isolated environment.

Q: The social contract approach to corporate management is the perspective that the only obligation of a corporation is to maximize profits for its shareholders in providing goods and services that meet the needs of its customers.

Q: The social contract approach is a very simplistic model that argues that the corporation only has an obligation to itself.

Q: The instrumental approach to corporate management is the perspective that a corporation has an obligation to society over and above the expectations of its shareholders.

Q: Friedman's view of the corporate world supports the rights of individuals to make money with their investments.

Q: Instrumental approach to corporate management is the perspective that a corporation has an obligation to society over and above the expectations of its shareholders.

Q: Extabet Enterprises donates a certain percentage of their profit to local charities, but it does not comply with all the legal industry standards of operating in a safe working environment. This depicts corporate social responsibility (CSR).

Q: The employees of Brennerz Inc. are encouraged to cycle to work every day to reduce environmental pollution. The given scenario exemplifies corporate ethics.

Q: Apart from achieving a social benefit over and above maximizing profits for its shareholders, corporate social responsibility also requires an organization to meet all its legal obligations.

Q: Corporate citizenship is an element of corporate social responsibility (CSR).

Q: Corporate ethics refers to the actions of an organization that are targeted toward achieving a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations.

Q: Some of the illegal financial functions carried out by an organization include underreporting income, overvaluing assets, and taking questionable deductions.

Q: It is illegal to defer receipts from one quarter to the next to manage one's tax liabilities.

Q: The accounting profession is governed by a set of laws and established legal precedents.

Q: The auditing function keeps track of all the financial transactions of an organization by documenting the money coming in and money going out and balancing the accounts at the end of the period.

Q: The accounting function provides the certification, by an impartial third-party professional, that an organization's financial statements are accurate.

Q: The human resources function of an organization can be divided into three distinct areas: financial transactions, auditing, and accounting function.

Q: Marketing professionals are responsible for ensuring that the right programs and policies for ethical business conduct are in place.

Q: An organization's human resources (HR) professionals must help ensure that ethics is a top organizational priority.

Q: An organization's human resources (HR) must ensure that the leadership selection and development processes include an ethics component.

Q: The advocates of ethical business conduct argue that an organization's human resources (HR) should be the sole creator of any corporate code of ethics.

Q: The advocates of ethical business conduct argue that an organization's marketing team should be at the center of any corporate code of ethics.

Q: The human resources function within an organization seldom needs to be involved in the relationship between the company and an employee.

Q: If an employee leaves a company, the human resources department is responsible for hosting an exit interview to ensure that anything that the organization can learn from the employee's departure is fed back into the company's strategic plan for future growth and development.

Q: The human resources function within an organization should ideally be directly involved in the creation of a career development program of an employee.

Q: The human resources function within an organization should ideally be directly involved in the maintenance of the technology in the organization.

Q: The human resources function within an organization should ideally be directly involved in the marketing process of the organization.

Q: The code of ethics adapted by the American Marketing Association speaks about improving "customer confidence in the integrity of the marketing exchange system."

Q: Marketing professionals abide by a code of ethics adapted by the American Marketing Association.

Q: Universal ethics refers to ethical choices that offer the greatest good for the greatest number of people.

Q: Utilitarianism refers to the theory that suggests actions are taken out of duty and obligation to a purely moral ideal, rather than based on the needs of the situation.

Q: The manufacturing process is responsible for ensuring that a product reaches the hands of a satisfied customer.

Q: For a research and development (R&D) team, the real ethical dilemmas come when decisions are made about product quality.

Q: Given that research and development (R&D) teams do not interact directly with customers, the potential for ethical dilemmas is nonexistent.

Q: Research and development (R&D) professionals carry the responsibility for the future growth of an organization.

Q: Information systems team coordinate the recruitment, training, and development of personnel for all aspects of an organization.

Q: Distribution and marketing are line functions, supporting each of the key functional areas.

Q: Marketing (and advertising) is one of the key functions in a value chain.

Q: Marketing, sales, and customer service are identified as the key functions in a value chain.

Q: Finance, which is a primary activity of an organization's value chain, sources components and builds products for an organization.

Q: A value chain is composed of the key functional inputs that an organization provides in the transformation of raw materials into a delivered product or service.

Q: An organization's operating culture represents the sum of all the policies and procedures, both written and informal.

Q: Organizational culture can be defined as the values, beliefs, and norms shared by the employees as well as the competitors of that organization.

Q: Shareholders lack interest in the ethical performance of an organization.

Q: Discuss conflict of interest with an example.

Q: Discuss the pressures placed on an organization's accounting department to maintain creative bookkeeping techniques.

Q: Discuss the statement that an organization's human resources (HR) should be at the center of any corporate code of ethics.

Q: Discuss the potential ethical dilemmas associated with manufacturing.

Q: What is a value chain? Identify the key functions of a company's value chain.

Q: A situation in which one relationship or obligation places the individual or organization in direct conflict with an existing relationship or obligation is referred to as a _____.

Q: The last resort for ethical guidance in an accounting profession is the Code of Ethics issued by the _____.

Q: The _____ is a set of principles that governs the accounting profession.

Q: _____ function of an organization refers to the certification of the organization's financial statements or books as being accurate by an impartial third-party professional.

Q: The _____ function of an organization keeps track of the company's financial transactions by documenting the money coming in and going out and by balancing the accounts at the end of the period.

Q: _____ professionals must help ensure that ethics is a top organizational priority.

Q: The _____ department of an organization should ensure that leadership selection and development processes include an ethics component.

Q: The _____ department of an organization carries the responsibility of corporate compliance to all prevailing employment legislation.

Q: The code of ethics adapted by the _____ speaks about doing no harm, fostering trust, and improving "customer confidence in the integrity of the marketing exchange system."

Q: Actions that are taken out of duty and obligation to a purely moral ideal, rather than based on the needs of a situation, since the principles are seen to apply to everyone, everywhere, and all the time are termed _____.

Q: Ethical choices that offer the greatest good for the greatest number of people refer to the theory of _____.

Q: For a research and development team, the real ethical dilemmas come when decisions are made about _____.

Q: The _____ department of an organization incorporates customer feedback from market research and competitive feedback from closely monitoring the competition in the market to develop product designs that will allow the organization to capture and maintain a leading position in its market.

Q: _____ refer to the line function that maintains the technology backbone of an organizationdata transfer and security, e-mail communications, internal and external websites, as well as the individual hardware and software needs that are specific to the organization and its line of business.

Q: _____ is the line function that coordinates the recruitment, training, and development of personnel for all aspects of the organization.

Q: A _____ is composed of the key functional inputs that an organization provides during the transformation of raw materials into a delivered product or service.

Q: An organization's _____ represents the sum of all its policies and proceduresboth written and informalfrom each of the functional departments in the organization in addition to the policies and procedures that are established for the organization as a whole.

Q: _____ can be defined as the values, beliefs, and norms shared by all the employees of an organization.

Q: In an organization, conflict of interest is most likely to occur when: A. the organization's product has the potential to be harmful to the organization's customers. B. an employee is unhappy with the performance ratings given by his or her manager. C. an interviewer has lesser experience than the candidate being interviewed. D. the hourly wage paid by the organization is less than the National Minimum Wage (NMW).

Q: Which of the following is the most likely reason why organizations maintain their own internal auditors? A. To interact with customers regarding the organizations' products B. To conduct internal training needs assessment C. To allocate personnel on specific duties D. To monitor the accuracy of financial functions

Q: The need for certified financial documents assumes great importance for an organization when _____. A. it goes public by selling stock in the organization on a public stock exchange B. it needs to recruit a large number of employees C. it has to increase its corporate social responsibility (CSR) activities D. it is being charged of fraudulent practices by its employees and shareholders

Q: The marketing challenge is more directly aligned to the debate between universal ethics and _____. A. consequentialism B. pragmatism C. utilitarianism D. subjectivism

Q: In an organization, _____ see themselves as providing products (or services) to customers who have already expressed a need for and a desire to purchase those products. A. Appraisers B. Marketers C. Decision analysts D. Purchasing managers

Q: Which of the following statements is true of ethical challenges in organizations? A. Nonprofit organizations do not face problems with unethical behavior. B. The main reason behind bending the rules regularly in organizations is the motive of gaining profits. C. The pursuit of profit in any circumstance is unethical. D. People across all organizations face the same kind of ethical challenges in their day-to-day activities.