1.Which of the following is a true statement?AnswerA. Pursuant to a sustainability approach to social responsibility it would be inappropriate for a business to undertake charitable acts for the benefit of the community if doing so reduces profits in the short-term but increases profits in the long-term.B. Social responsibility audits are not mandated for all corporations by the Federal Trade Commission.C. Under a sustainability approach to social responsibility, the modern business corporation only owes any responsibility to the shareholders since they are the owners of the corporation.D. One problem with a stakeholder approach to corporate social responsibility is that it is often difficult to determine how the interests of the different stakeholders should be balanced.2.Which statement is correct regarding the application of the term “social responsibility” to business?AnswerOne social responsibility dilemma faced by corporate management at times is that a decision may have an effect in favor of the interests of one stakeholder group in society but against the interests of another group.Most state legislatures in the U.S. have now compelled corporations to adopt detailed social responsibility codes.Social responsibility is a prescriptive ethical theory that sets forth moral norms.Under social responsibility analysis, the shareholder stakeholder group is paramount and absolute and the sole focus of any value analysis.3.Social responsibility today is best described as:Answer Merely an “academic” matter since there are typically no legal consequences for acting in a socially non-responsive matter.Part of a company’s moral obligation to be altruistic.A real and practical concern for a business executive.Not an issue for the World Bank since it is a global financial institution.4. Some consumers misuse the products of Midwest Manufacturing, Inc., but in a foreseeable manner, and are injured. In terms of responsibility for consequences, Midwest may haveAnswerAn ethical duty onlyA legal duty onlyAn ethical and legal dutyNeither an ethical nor a legal duty.5.The Principle of Last Resort commands that one:AnswerAid and rescue when one is the last resort and the other parts to the principle are present or be condemned as immoral.Aid and rescue when one is the last resort and the other parts to the principle are present or be condemned as illegal.Aid and rescue when one is the last resort and the other parts to the principle are present or be condemned as socially irresponsible.None of the above.6.What is TRUE about the employment at-will doctrine?Answera. It has been modified by statute, for example, civil rights acts.b. It has been modified when a discharge is in violation of a fundamental “public policy” of a state.c. It can result in a legal but immoral discharge.d. All of the above.
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