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Ethics multiple choice questions

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1. In a pluralistic society, business enterprises are completely dependent on government. 


2. Organizations must identify their stakeholders to obtain their resources and maintain their legitimacy.

3. A stakeholder is an individual, or group, who can influence and/or is influenced by the achievement of an organization's purpose. 


4. Corporations must understand how their activities influence stakeholders but not how stakeholders can influence their activities. 


5. It is the responsibility of the stakeholders to identify themselves to the organization. The organization does not need to identify stakeholders. 


6. Owners always have a lot of influence over an organization. 


7. The role of the board of directors is to determine the corporation's strategic direction, monitor and review performance, and hire and fire the top executives. 


8. Every board of directors plays a substantial role in the organization and is considered insiders. 


9. Employees are often considered the most obvious and, sometimes, the most important stakeholder. 


10. Although customers are the source of revenue and should be treated carefully, corporations that are a monopoly do not need to focus on this stakeholder. 


11. Lenders and Creditors are stakeholders that can be taken for granted because their influence is small as there are many lending institutions. 


12. When an organization is able to obtain a particular material from several suppliers they are not dependent on that supplier. 


13. Management consultants are not stakeholders because they are not employees of the company. 


14. Competitors include organizations that produce substitute products and therefore should be monitored. 


15. Joint-venture participants are partners cooperating in a particular enterprise. 


16. Service, fraternal, cultural, and ethnic associations can provide business contacts through volunteerism. 


17. Government may play several roles as a stakeholder, such as media and lender. 


18. Non-Governmental Organizations (NGOs) are those organizations, such as charities, run by the volunteer sector. 


19. There is question that animals should be considered as a stakeholder. 


20. The concept of a stakeholder has broadened in time to include individuals or groups other than owners, government and labour. 


21. Categorizing stakeholders into various groups, such as internal and external, is desirable because it helps managers strategize accommodations. 


22. Derivative stakeholders are those from whom the corporation has not accepted benefits, but they hold power over the corporation and may exert either a beneficial or harmful influence. 


23. Different stakeholders have different sources and expressions of power. When one stakeholder becomes too powerful, another stakeholder may act to counterbalance and restrict this power. 


24. It is the responsibility of the board of directors, not the manager, to determine how to respond to stakeholders' power and pressures. 


25. The board of directors determines the corporation's social responsibility initiatives. 


26. Opponents to the stakeholder concept argue, in part, that considering broader social issues is not the mandate of a business in the capitalist system. 


27. There is a tremendous amount of opposition to the stakeholder concept. 


28. The "social market" lacks a clear corporate purpose necessary to meet corporate objectives. 


29. An issue is a point in question where different views are held of what ought to be done by the corporation, based on stakeholder or management expectations. 


30. Issues management refers not to social change, but to a process by which the organization responds to economic, social, and environmental issues. 


31. One of the main issues pertaining to the automotive industry in Canada is green manufacturing. 


32. One of the main issues in the banking industry today is executive compensation. 


33. One of the main issues in the pharmaceutical industry today is unionization. 


34. In order for the successful implementation of issues management there must be support from top management and broad participation at the staff levels. 


35. Ideally, the issues management approach should be implemented quickly with a forceful, concentrated effort by senior level management leading the way. 


36. Early identification of an emerging issue that deals with conflicting value and interest is important. 


37. Identifying issues can be done in many ways, for example, environmental scanning, social forecasting and public issues scanning. 


38. The issues management process, while helpful, does not ensure that the most salient or critical issues are addressed. 


39. Once an issue has progressed through the issue life cycle to the decline stage, it is considered to be resolved. 


40. An example of a crisis for management can be seen in the situation of XL Foods, operating in Brooks, Alberta, when it was discovered that E.coli was present in beef, but the plant was allowed to continue to operate for about ten days after that discovery. 


41. One of the issues which resulted from the E.coli crisis at XL Foods was that the cattle industry was concerned about their future as consumers may purchase less beef, and that there may be damage to international markets. 


42. In Fink's Anatomy of a Crisis it is argued that the outcome is not necessarily always negative, and that positive outcomes may result from a crisis. 


43. In Fink's Anatomy of a Crisis, the acute crisis stage is the point at which the situation resolves itself. 


44. Norman Augustine formulated an alternative to Fink's anatomy using only three stages: avoidance, preparation, and resolution. 


  • SubjectBusiness
  • TopicBusiness Ethics
  • Difficulty LevelCollege/University
  • Answer has attachmentsNo
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