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GBA 383 Exam 1 Ch Questions with 100% Correct Answers | Verified | Latest Update 2024
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GBA 383 Exam 1 Ch Questions with 100% Correct Answers | Verified | Latest Update 2024
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GBA 383 Exam 1 Ch. 1-3A person might find it difficult to avoid a wrong because of coercion or a threat. What type of moral defense
could be used to reduce responsibility? - ✔✔Mitigating factors
A primary benefit of utilitarianism is that - ✔✔it impartially considers everyone's interests.
A system of normative beliefs that are shared by members of a social group are referred to as - ✔✔Ideology
A value disposition of a good human being, exhibited in the person's habitual behavior, is called - ✔✔Moral
virtue
According to Adam Smith, how does free market competition provide greater benefits than government
interference? - ✔✔One point of support for free markets is the utilitarian argument that free markets and
private property will produce more benefits than any government interference. Free market competition will
provide these increased benefits by enticing private business to produce and sell what consumers want and to
do this at the lowest possible price. Private businesses will do this by trying to cut costs and reduce resources
used. Smith claims that demand drives profit, and supply causes a rebound in price. Resources are allocated
to those industries where they are in the most demand.
According to Adam Smith's view of the supply and demand process, how do consumers affect the price of a
commodity? - ✔✔When there is not enough supply, consumers will bid the price of an item above the natural
price.
According to John Locke, if there were no governments, what civil liberties would human beings have? -
✔✔Natural rights
According to Karl Marx, in a capitalist economy, what type of alienation is a worker experiencing when the
worker is forced to work for someone else and makes money for the owner of the workplace? - ✔✔Alienating
workers from themselves
According to Karl Marx, which of the following best describes the way a society organizes itself so that it can
produce goods? - ✔✔Relations of production
According to Kohlberg, during which of moral development does one realize there are conflicting moral views
and believes there is a fair way to reach consensus about them? - ✔✔Social contract orientation
According to World Bank reports, which of the following is a disadvantage of globalization? - ✔✔Inequalities
increase between and within nations.
An ethic based on the fundamental value that relationships should be preserved and maintained is a ____
ethic. - ✔✔Communitarian
, Are organizations moral agents? Should they be held responsible for moral decisions. - ✔✔There are two
views on the idea that organizations can be held responsible for moral decisions. One view is that when an
organization acts intentionally, then it is a moral agent. The organization is an agent with moral rights and
obligations, and it is responsible for its actions, just like humans. The other view is that companies act as
machines and should not be considered to have moral duties. This argument claims businesses are like
machines where members blindly conform to formal rules that may or may not have to do with morality. Just as
a machine cannot be faulted for failing to act morally, neither can an organization when it is considered to be a
machine.
As a senior manager operating in another country, how should you enforce U.S. ethical standards in a culture
that has different standards? - ✔✔Some scholars have suggested that senior managers who operate in a less
well-developed country should follow the higher ethical standards that are typically used in their home country.
However, those ethical standards must be used with care as they can sometimes create more harm than good
in the host nation. Social norms and expectations must also be carefully considered. Therefore, each case
must be judged individually, instead of attempting to apply one rule or level of standards to all issues. When
determining how ethical a decision is in a host country, several things must be considered including the nature
of the country's laws, how corrupt a government is, the level of technological, social, and economic
development, and cultural acceptance.
Because companies intentionally engage in actions such as production and sales, some people believe they
should be held morally responsible for their decisions and actions. This view considers companies as having to
act as - ✔✔Moral agents
Briefly discuss the views of Adam Smith regarding the role of government. - ✔✔While Adam Smith argued
that government intervention in free markets would only harm the economy, he believed that government has a
role in the economy. Smith assigned to government the role of providing (pure) public goods. Even though the
markets provide just about everything, they cannot efficiently provide public goods. These goods have two
characteristics. First, public goods are non-excludable. In other words, it is almost impossible to identify the
nonpayers. The best example is national defense. It makes no sense that two neighboring houses are
protected from foreign invasion by two different private firms. Second, public goods are non-rivalrous. It means
that the consumption (or enjoyment) of national defense by one citizen does not reduce the consumption for
other citizens. In short, Smith believed that governments should provide defense, infrastructure, etc.
Compare the shareholder view of corporate social responsibility to the stakeholder view of corporate social
responsibility. - ✔✔According to Milton Friedman, shareholders own the company in which they have shares.
These owners "hire" executives to run the organization in the best interest of the shareholders, with the goal of
increasing profits and returns for the shareholders. Therefore, under the shareholder view of CSR, the
company should not use resources to benefit society; those resources belong to the shareholders. However,
by maximizing profits for stockholders, the companies will end up benefiting society. According to Freeman and
Reed, a stakeholder is any group or individual who can help the organization achieve its objectives or who are
affected by the achievements of the organization. This means that a stakeholder can harm, benefit, or
influence. Therefore, anyone can be a stakeholder in an organization. Under this theory, the organization
should be run for the benefit of all stakeholders.
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