SECTION #1 ESSAY QUESTIONS
- What is corporate social responsibility? What are its benefits to the business organization? What are its benefits to its stakeholders (employees, customers, vendors, shareholders)
- What is the Foreign Corrupt Practices Act? Describe its key provisions?
- What are the origins of business ethics? Describe the various principles including duty based and outcome based.
- What harms are caused when a business acts unethically?
- What is the minimum standard for ethical compliance?
- Is the offer of a bribe (even if no bribe is actually given) is enough to violate the law? Explain.
- What is Insider trading? Why is it unethical?
- What constitutes ethical behavior? What steps can a business take to ensure their employees are behaving ethically?
- Can an action be legal but unethical? Explain.
- Describe the origins of corporate social responsibility? Is corporate social responsibility imposed by law or by societal norms?
- Companies are required to set up confidential systems so that employees and others can “raise red flags” about suspected illegal or unethical auditing and accounting practices. Describe a model system?
- If an employee is offered a bribe. He/she refuses the bribe but fails to report the incident to superiors. Has the employee has acted unethically? Explain.
- In studying the business law, students also review ethics in a business context. Ethics includes the study of what?
- In making business decisions, Ridgeline Utility Service Company and other corporations should strive to be “good citizens”. What constitutes being a “good citizen”?
- Green Hybrid Auto Corporation pays its executives an excessive amount relative to what lower-level employees at the company receive and to what executives at competitive companies are paid. Is Green Hybrid’s pay scale ethical? Explain.
- Carney & Deb, Accountants, perform a variety of tasks for their clients— financial statements and tax returns, for example. To accomplish these tasks, Carney & Deb collects their clients’ personal and financial information. Carney & Deb can store the personal and financial information of its clients on any electronic device, including a smartphone, a tablet, a flash drive, a laptop, and a copier. When Carney & Deb upgrades its storage media, the information is transferred between devices. Does Carney & Deb have an ethical obligation to its clients with respect to this information? If so, what are the ethics in the situation?
- Precision Tool Corporation sells a product that is capable of seriously injuring consumers who misuse it in a foreseeable way, even though the label warns against the misuse. Does the firm have an ethical duty to take this product off the market? What conflicts might arise if the firm stops selling this product?
- Matchless Clothing Company buys clothing assembled by Nantra, Ltd., a foreign firm that employs young children for long hours and low pay. Nantra’s nation does not enforce its child labor laws. Human International Politics (HIP), a political activist organization, discovers Matchless’s connection to Nantra and plans to reveal this information. Before HIP does so, however, Matchless publicly releases the information itself and announces that it is severing its relationship with Nantra. Matchless publicizes its action in its advertising, and the company’s sales and profits increase, apparently as a direct result. Has Matchless acted unethically in any way? From an ethical perspective, is Matchless’s conduct in this situation more important than whatever its motive might be?
- Ophelia, an executive with Pharma Drug Distribution, Inc., has to decide whether to market a product that might have undesirable side effects for a small percentage of users. How should Ophelia decide whether to sell the product? How does the standard of ethics that is applied affect this answer?
- Quixotic Corporation decides to respond to what it sees as a moral obligation to correct for past gender discrimination by adjusting pay differences among its male and female employees. Does this raise an ethical conflict among those employees? Between the employer and the employees? Between the corporation and its shareholders? If so, how should it be resolved?
- SECTION #1 SHORT ANSWER QUESTIONS
How is a Regulatory Agency created?
- How many judges are there on the United States Supreme Court? What is their term of office?
- List five (5) regulatory agencies? Describe what each agency is responsible for doing?
- Describe the main components of Sherman and Clayton Acts, which are the two primary laws United States antitrust laws?
- How often is a Presidential election conducted in the US? Describe the election process? 6. Describe the role of the “Cabinet” in the operation of the US government? List some of the members of the Cabinet?
- How many branches of government are there in the US? Name each of the branches? Describe the role of each branch?
- Which branch of government can overrule an administrative agency? What is the standard of review?
- What is E-Commerce?
- What are the advantages of E-Commerce?
- What are the disadvantages of E-Commerce?
- How does the E-Commerce transaction take place from the vendor and customer perspective?
- Provide examples of E-Commerce advertising? Which are the most effective tools of advertising? Explain.
- What percentage of consumers in China and US own a computer? A smart phone? Purchase products on the internet?
- Why are some people reluctant to engage in commerce on the internet?
- Describe the current status of Alibaba and Amazon? Market share? Valuation? Others?
- Approximately what percentage of US imports come from China? Approximately what percentage of China imports come from the US?
- Describe five (5) cultural differences between Chinese and US business negotiation styles? 17. Describe the challenges facing a Chinese business engaging in commerce in the US?
- Describe the challenges facing a US business engaging in commerce in China?
- What is a business plan?
- Describe the components of a business pan and explain what information should be included in each component?
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