21 May WHY WAS THERE LITTLE REASON TO FOCUS ON CORPORATE GOVERNANCE IN THE LATE 1800S AND EARLY 1900S?
Self-regulation is an effort to
a. enhance governmental authority in overseeing business practice.
b. train executives in ethics and leadership so they are more skilled in the workplace.
c. decrease the role and status of the Better Business Bureau and similar organizations.
d. demonstrate social responsibility and preclude further governmental regulation.
e. develop industry standards for pricing.
Q22. Why was there little reason to focus on corporate governance in the late 1800s and early 1900s?
a. The stakeholders in organizations had the same views about decision making, so there was little need for governance mechanisms.
b. The government tightly controlled industries during this time period thereby making a company’s attempt at governance futile.
c. There were no social, safety, or environmental problems at this time, so governance mechanisms were unnecessary.
d. In most companies, the owner made the strategic decisions about the business, so little governance was needed.
e. Companies followed all laws, so there was little need for governance mechanisms.
Q23. Organizational crises are characterized by all of the following except
a. routine problems occurring in business.
b. a threat to a company’s high-priority goals.
c. far-reaching events.
d. being a surprise to a company’s membership.
e. the need for swift action.
Q24. According to reports published in Business Week and other sources, the best boards of directors
a. are not compensated.
b. are found in Japanese and European countries.
c. are generally more independent and more active than other boards.
d. rarely own stock in the company.
e. rate high on independence but low on innovation.
Q25. Administrative spending for federal regulatory agencies, which is used as a measurement of regulatory costs, has
a. decreased because companies have been much more responsible at self-regulation, and less federal spending is needed.
b. remained relatively steady throughout the past couple of decades.
c. decreased in the past years as more of the burden of regulation is shifted to the state agencies.
d. increased steadily over the years as the world of business has continued to grow and become more complex.
e. increased in the past years because states have been ineffective with their regulations and the burden has shifted to federal agencies.
Q26. To generate a measurement of the costs of regulation, economists generally classify regulations as
a. ethical or legal.
b. economic or social.
c. safety-related or environment-related.
d. state or national.
e. standardized or industry-specific.
Q27. Groups that are fundamental to a company’s operations and survival are collectively called
a. VIPs.
b. critical stakeholders.
c. shareholders.
d. top stakeholders.
e. primary stakeholders.
Q28. When a company is denying responsibility and doing less than is required with a particular stakeholder, it is engaged in a(n) _____ strategy.
a. accommodative
b. defensive
c. inactive
d. proactive
e. reactive
Q29. According to Kohlberg’s model, moral development
a. is focused primarily on each individual’s needs.
b. depends mostly on the first few years of a person’s life.
c. can be defined as six unrelated stages that a person progresses through.
d. differs for each individual, resulting in no universal values.
e. is accelerated by gaining education and experience in resolving conflicts.
Q30. Which of the following is the best description of the possible legal ramifications of poor business conduct?
a. It is important to have an organizational mechanism for resolving all questionable issues.
b. Legal issues are usually cut and dry since the law has either been violated or has not been violated.
c. Legal issues brought by stakeholders outside of the organization are almost always resolved within the organization.
d. Ethical issues rarely become so important that they reach the courtroom for resolution.
e. The most cost effective way to resolve disputes is through the court system.
Q31. By banning the importation of goods made by children under the age of 15 through indentured or forced labor, the U.S. government exercised which type of power?
a. Legal
b. Symbolic
c. Legitimate
d. Utilitarian
e. Coercive
Q32. Transactional leadership
a. creates employee satisfaction by negotiating for levels of performance or ‘bartering’ for desired behaviors.
b. is practiced by middle managers who are striving to become top managers.
c. cannot be implemented for quickly changing ethical climates or reacting to ethical problems or issues.
d. promotes workplace activities and behaviors through a shared vision and sense of mission.
e. is least effective in firms with an emphasis on manufacturing and industrial products.
Q33. How is corporate governance best defined?
a. A system of decentralized mechanisms that assists a firm in meeting its goals
b. The extent to which the content of workplace decisions is aligned with a firm’s stated strategic direction
c. The exercise of control and authority by those in mid-management positions
d. The formal system of accountability and control for organizational decisions and resources
e. The philosophy that a board or CEO holds regarding accounting methods
Q34. Despite business concerns about the costs of regulations, the benefits include all of the following except
a. equality in the workplace.
b. a cleaner natural environment.
c. safer products.
d. fewer consumer complaints.
e. safer workplaces.
Q35. Reputation management is
a. the process of developing positive relationships with influential media sources in order to carefully monitor news about the company.
b. communicating how an organization wants to be viewed by its stakeholders and the public.
c. the process of building and sustaining a company’s good name and generating positive feedback from stakeholders.
d. not worth much effort, since stakeholders will make their own decisions about the company’s actions.
e. top management’s efforts to protect its reputation so that top management can achieve greater job security.
Q36. What organization is dedicated to socially responsible investing policies at colleges and universities?
a. Student Alliance to Reform Corporations
b. Higher Education Alliance for Social Investing
c. Students Against Social Deterioration
d. Keep America Beautiful
e. Colleges for Responsible Investing
Q37. When just one business provides a good or service in a particular market, what results?
a. Lower prices due to that company’s efficiency
b. Deregulation
c. Oligopoly
d. Trust
e. Monopoly
Q38. Minimal responsibility primarily involves
a. fulfilling social responsibilities including legal and ethical guidelines.
b. incorporating efforts in such a way as to benefit all stakeholders of the company.
c. satisfying the primary stakeholders regardless of the possible legal implications.
d. trying to maximize stockholder wealth.
e. addressing the concerns of contractual stakeholders in regards to legal and economic matters.
Q39. The implementation of an ethics program
a. will be the same from organization to organization, as there is little need to tailor any aspect of the program.
b. is primarily directed at training top managers and developing compensation plans that will insure top managers are ethical.
c. will not be successful unless the chief executive officer (CEO) is using a transactional leadership approach.
d. translates a plan of action into operational terms and establishes a means by which organizational ethical performance will be monitored, controlled, and improved.
e. starts with training and ends with the development of a code of conduct.
Q40. Which stakeholder provides the goods and services necessary for an organization to function effectively and efficiently?
a. Managers
b. Stockholders
c. Government
d. Suppliers
e. Employees
Q41. Concerns involving consumer privacy, web site development, and online marketing relate to which classification of ethical issue?
a. Discrimination
b. Honesty
c. Communications
d. Technology
e. Conflict of interest
Q42. What is the set of conditions that limits barriers or provides rewards?
a. Circumstances
b. Motivation
c. Opportunity
d. Influence
e. Reinforcement
Q43. ______ prohibit(s) employment discrimination on the basis of race, national origin, color, religion and gender.
a. Americans with Disabilities Act
b. Equal Employment Opportunity Commission
c. Affirmative Action programs
d. International Employment Rights Treaty
e. Title VII of the Civil Rights Act of 1964
Q44. The Pet Food Institute, the Tobacco Institute, and the American Booksellers Association are all examples of
a. trade unions.
b. special-interest groups.
c. trade associations.
d. umbrella organizations.
e. PACs.
Q45. Which of the following is the best way for a stakeholder to gain legitimacy?
a. Insisting that your group’s interests are extremely important to society in general
b. Letting the media know the horrible things the company has done so that the rest of the world will know
c. Making claims that you feel are reasonable, regardless of the view of other stakeholders
d. Exploring the issue from a variety of perspectives and then communicating your desires for change in a respectful manner
e. Committing acts of violence to show the company and the community that you are serious
Q46. Which of the following is least likely to be considered destructive or unfair competition?
a. Stealing competitors’ trade secrets
b. Using a ‘bait and switch’ method for selling products to customers
c. Collaborating with a competitor to establish prices so that each firm can ensure a certain level of profit
d. Obtaining information through competitive intelligence
e. Lowering prices significantly in an effort to drive competitors out of a market, and then raising prices afterwards
Q47. What holds organizations together and allows them to focus on efficiency, productivity, and profits?
a. Reliable source of funds
b. Respect
c. Diversity
d. Trust
e. Competence
Q48. Which of the following is least likely to be a use of internal controls in an organization?
a. Safeguarding corporate assets and resources
b. Protecting the reliability of organizational information
c. Measuring the effects of advertising on sales
d. Allowing comparisons between actual and planned performance
e. Ensuring compliance with laws
Q49. Communication is important in keeping a firm on its ethical course because
a. top executives must enforce overall ethical standards within the organization.
b. issues such as price collusion and bribery must be decided on a decentralized basis.
c. employees must learn when unethical behavior is appropriate to maximize profits.
d. the moral philosophies of employees are always consistent with the moral philosophies of top management.
e. centralization may reduce the opportunity for unethical conduct.
Q50. Under the historical and traditional views of business, who was considered to be a stakeholder?
a. Owners, customers, employees, business partners, the community, the government, and special-interest groups
b. Owners and customers
c. Society in general
d. Owners
e. Owners, customers, employees, and business partners
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