In which of the following industries is the US not yet seriously challenged by foreign competitors?

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Terms in this set (220)

To see and appreciate the world from the perspective of others has become a matter of survival for business.

True

As long as the price and quality of a firm's products and services are competitive on a local basis, it has nothing to worry about.

False

Mass communication and high technology have led to highly individualized and distinct patterns of consumption in diverse cultures worldwide.

False

In today's global climate, many companies may find it difficult to survive by relying solely on domestic markets.

True

It is an exaggeration to say that in an industry that is global, the riskiest possible posture is to remain a domestic competitor.

False

One of the dangers of remaining a local competitor is that more aggressive companies will use their global growth to capture economies of scale and learning.

True

Organizations that conduct business operations across national borders are called international firms or multinational corporations.

True

The strategic-management process is conceptually different for multinational firms than for purely domestic firms.

False

The strategic-management process is more complex for international firms due to more variables and relationships.

True

The social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive opportunities and threats that face a multinational corporation are almost limitless.

True

While multinational corporations face almost limitless social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive opportunities and threats, the number and complexity of these factors do not dramatically increase with the number of products produced and the number of geographic areas served.

False

More time and effort are required to identify and evaluate external trends and events in domestic corporations than in multinational ones.

False

Geographic distance and cultural differences are two of the factors that can make communication between domestic headquarters and overseas operations difficult.

True

Trade barriers are one of the unique and diverse risks that face multinational corporations

True

With the rise in world commerce, government regulatory bodies are no longer able to closely monitor foreign business practices.

False

Before entering international markets, firms should do research to try and diminish the risk of doing business in new markets.

True

It is possible to obtain insurance from the U.S. government 's OPIC to eliminate all risks associated with doing business internationally.

False

Strategists in multinational corporations are often confronted with the need to be globally competitive and nationally responsive at the same time.

True

Perhaps the greatest advantage of international operations to a firm is the ability to gain new customers for its products and services, thus increasing revenues.

True

Although growth in revenues and profits is a common expectation of shareholders, it is not a measure of organizational success.

False

A potential advantage to initiating, continuing, or expanding international operations is that foreign operations can absorb excess capacity, reduce unit costs, and spread economic risks over a wider number of markets.

True

Although a firm's power and prestige in domestic markets may be significantly enhanced when the firm competes globally, this rarely translates into improved negotiating power among creditors, suppliers, or distributors.

False

Firms are often motivated to initiate international operations because competitors in foreign markets may not exist, or competition may be less intense than in domestic markets.

True

The availability, depth, and reliability of economic and marketing information in different countries vary extensively.

True

Language, culture, and value systems differ among countries, which can create barriers to communication and problems managing people.

True

Keeping informed about the number and the nature of competitors is easier when doing business internationally.

False

Weaknesses of competitors in foreign lands are often underestimated, and strengths are often overestimated.

False

One aspect of the global challenge faced by U.S. business involves the complications of having to deal with two or more monetary systems.

True

Foreign banks currently operate and compete in most parts of the United States.

False

American firms that seem insulated from foreign competition today may be vulnerable tomorrow.

True

Brazil offers skilled labor and technology, while Germany offers abundant natural resources and rapidly developing markets.

False

Many countries became less protectionist during the recent global economic recession.

False

Protectionism refers to countries imposing tariffs, taxes, and regulations on firms outside the country to favor their own companies and people.

True

Investors are now looking closely at Africa in the wake of low interest rates and slow growth elsewhere on the planet.

True

In the three Nordic countries of Denmark, Sweden, and Finland about 70 percent of all employees are in unions.

True

Shifts in the nature and location of production systems, especially to China and India, are reducing the response time to changing market conditions.

True

The drive to improve the efficiency of global business operations is leading to lesser functional specialization.

False

Though China has more than 1.3 billion residents, the middle class segment that is able to buy goods and services is rapidly shrinking.

False

Labor markets have become steadily more international with more and more countries around the world welcoming foreign investment and capital.

True

A primary reason why most domestic firms are engaging in global operations is that growth in demand for goods and services outside the USA is considerably higher than inside.

True

Foreign revenue as a percentage of total company revenues is approaching 20 percent for Colgate-Palmolive.

False

Joint ventures and partnerships between domestic and foreign firms are becoming the exception rather than the rule.

False

Exactly 70 percent of the world's population lives outside of the USA.

False

The U.S. furniture manufacturing industry is not yet greatly challenged by foreign competitors.

true

While there are a few U.S. industries that are not yet greatly challenged by foreign competitors, many products and components within these industries too are now manufactured in foreign countries.

True

The need to amortize massive R&D investments over many markets is a major reason why the aircraft manufacturing industry became global.

True

A global strategy means considering individual countries distinctly, one at a time, when designing, producing, and marketing products.

False

Since the 1980s, most countries including the USA have been steadily lowering their tax rates.

False

In China, business relations revolve around guanxi, or personal relations.

True

The understanding of Asian cultures is a strength U.S. firms have in competing with Pacific Rim firms.

False

In China, one should eat heartily to demonstrate enjoyment of the food.

True

The smile is one form of communication that works the same worldwide.

True

Time spent with the family and the quality of relationships are more important in some cultures than the personal achievement and accomplishments espoused by the traditional U.S. manager.

True

Punctuality is generally revered in all cultures of the world.

False

In the United States, an amicable relationship is often mandatory before conducting business.

False

In socialist countries such as France or Belgium, the only grounds for immediate dismissal from work is a criminal offense.

True

Europeans are especially motivated by pay-for-performance, commission salaries, and objective measurement and reward systems.

False

Mexican workers expect and desire a work environment in which self-expression and initiative are encouraged.

False

In Mexico, business associates usually entertain each other at their homes.

False

An important business activity in Japan is entertaining because it strengthens Wa.

True

The average level of union membership across the whole of the European Union, weighted by the numbers employed in the different member states, is ________ percent compared to about ________ percent in the USA.
A) 11; 23
B) 15; 44
C) 23; 11
D) 51; 26
E) 70; 30

C) 23; 11

Mass communication and high technology have ________ in diverse cultures worldwide.
A) created similar patterns of consumption
B) resulted in highly individualized patterns of consumption
C) rendered patterns of consumption identical
D) had little to no effect on patterns of consumption
E) ignored patterns of consumption

A) created similar patterns of consumption

In an industry that is, or is rapidly becoming global, the riskiest possible posture is to
A) become a global competitor.
B) remain a domestic competitor.
C) remain a global competitor.
D) expand beyond the role of domestic competitor.
E) none of the above

B) remain a domestic competitor.

Organizations that conduct business operations across national borders are called
A) protectionists.
B) national firms.
C) multinational corporations.
D) domestic companies.
E) all of the above.

C) multinational corporations.

The strategic-management process for multinational firms is ________ for purely domestic firms, and the process is ________ for international firms.
A) conceptually the same as; more simple
B) conceptually the same as; more complex
C) conceptually different than; more simple
D) conceptually different than; more complex
E) conceptually the same; less important

B) conceptually the same as; more complex

The ________ opportunities and threats that face a multinational corporation are almost limitless.
A) social
B) cultural
C) environmental
D) political
E) all of the above

E) all of the above

The various opportunities and threats that face multinational corporations are almost limitless, and the number and complexity of these factors ________ the number of products and the number of geographic areas served.
A) decrease dramatically with
B) drastically increase with
C) drop slightly with
D) are constant despite
E) are unaffected by

A) decrease dramatically with

Multinational corporations face unique and diverse risks, which include all of the following EXCEPT
A) favorable foreign court interpretations of contracts and agreements.
B) currency losses through exchange rate fluctuations.
C) social/political disturbances.
D) import/export restrictions.
E) tariffs.

A) favorable foreign court interpretations of contracts and agreements.

Communication between domestic headquarters and overseas operations is often made difficult by
A) geographic distance.
B) cultural differences.
C) variations in business practices.
D) national differences.
E) all of the above

E) all of the above

The U.S. government's OPIC
A) offers insurance to offset some risks of doing business internationally.
B) provides insurance to eliminate all of the risks of doing business internationally.
C) gives informational seminars about the risks associated with doing business internationally.
D) requires that paperwork be filed by U.S. companies desiring to do business internationally.
E) discourages foreign companies from doing business in the United States.

A) offers insurance to offset some risks of doing business internationally.

All of the following are potential advantages to initiating, continuing, and/or expanding international operations EXCEPT
A) firms can gain new customers for their products.
B) foreign operations can absorb excess capacity, reduce unit costs, and spread economic risks over a wider number of markets.
C) foreign operations can allow firms to establish low-cost production facilities in locations close to raw materials and/or cheap labor.
D) foreign operations could be seized by nationalistic factions.
E) foreign operations may result in reduced tariffs, lower taxes, and favorable political treatment.

D) foreign operations could be seized by nationalistic factions.

Which of the following is a potential advantage of conducting international operations?
A) Competitors in foreign markets may not exist, or competition may be less intense than in domestic markets.
B) Dealing with two or more monetary systems can complicate international business operations.
C) Differing language, culture, and value systems can make communication difficult.
D) Gaining an understanding of regional organizations is difficult but is often required in doing business internationally.
E) All of the above

A) Competitors in foreign markets may not exist, or competition may be less intense than in domestic markets.

________ can enable firms to learn the technology, culture, and business practices of other people and to make contacts with potential customers, suppliers, creditors, and distributors in foreign countries.
A) Economies of scale
B) Joint ventures
C) Low-cost production facilities
D) Reduced tariffs
E) Domestic operations

B) Joint ventures

A firm's power and prestige in domestic markets may be significantly enhanced if the firm competes globally
A) which can translate into improved negotiating power among important groups.
B) though this rarely results in a practical advantage.
C) but this can hurt its bargaining power with suppliers and distributors.
D) yet this does nothing to improve its position with creditors.
E) which can alienate the firm from its domestic creditors, suppliers, and distributors.

A) which can translate into improved negotiating power among important groups.

All of the following are potential disadvantages to initiating, continuing, or expanding business across national borders EXCEPT
A) firms confront different social, cultural, and political forces when doing business internationally, which can make communication in the firm difficult.
B) keeping informed about the number and nature of competitors is more difficult when doing business internationally.
C) foreign operations can absorb excess capacity, reduce unit costs, and spread economic risks over a wider number of markets.
D) dealing with two or more monetary systems can complicate international business operations.
E) foreign operations could be seized by nationalistic forces.

C) foreign operations can absorb excess capacity, reduce unit costs, and spread economic risks over a wider number of markets.

Strengths of competitors in foreign lands are often ________, and weaknesses are often ________.
A) overestimated; overestimated
B) overestimated; underestimated
C) underestimated; underestimated
D) underestimated; overestimated
E) none of the above

D) underestimated; overestimated

In 2012, ________ African countries held democratic elections.
A) 3
B) 13
C) 23
D) 31
E) 43

C) 23

Which of the following statements is NOT true?
A) America's economy is becoming much less American.
B) A world economy and monetary system are emerging.
C) Corporations in every corner of the globe are taking advantage of the opportunity to obtain customers globally.
D) Markets are shifting slowly and in many cases diverging in tastes, trends, and prices.
E) Innovative transport systems are accelerating the transfer of technology.

D) Markets are shifting slowly and in many cases diverging in tastes, trends, and prices.

________ countries are market leaders in labor-intensive industries and ________ offers abundant natural resources and rapidly developing markets.
A) East Asian; Brazil
B) South American; Germany
C) East Asian; Germany
D) South American; Brazil
E) European; Japan

A) East Asian; Brazil

Most economists argue that protectionism ________ the world economy because it ________ trade among countries.
A) helps; inhibits
B) helps; encourages
C) harms; inhibits
D) harms; encourages
E) doesn't impact; doesn't affect

C) harms; inhibits

Protectionism involves countries doing all of the following EXCEPT
A) levying tariffs against firms outside the country.
B) imposing taxes on firms outside the country.
C) imposing regulations on firms outside the country.
D) restricting imports from firms outside the country.
E) liberalizing restrictions on the import of foreign goods.

E) liberalizing restrictions on the import of foreign goods.

What percent of the world's population lives outside the United States?
A) 55
B) 65
C) 75
D) 85
E) 95

A) 55

In which of the following industries is the USA NOT yet greatly challenged by foreign competitors?
A) Auto industry
B) Electronics
C) Manufacturing
D) Retailing
E) None of the above

D) Retailing

The world population that lives outside of the USA is growing ________ the U.S. population.
A) 30 percent slower than
B) 70 percent slower than
C) 30 percent faster than
D) 70 percent faster than
E) at the same rate as

D) 70 percent faster than

________ recently cut its corporate tax rate by five percentage points, leaving ________ with the highest corporate tax rate among all the nations in the world.
A) The USA; Brazil
B) Brazil; Japan
C) Japan; Brazil
D) Brazil; the USA
E) Japan; the USA

E) Japan; the USA

High corporate tax rates
A) encourage investment in new factories.
B) provide strong incentives to avoid and evade taxes.
C) attract foreign investors.
D) make a nation a desirable location for investment.
E) have been a growing trend since the 1980s.

B) provide strong incentives to avoid and evade taxes.

Foreign revenue as a percentage of total company revenues ________ in hundreds of U.S. firms, including ExxonMobil, Gillette, and Citicorp.
A) is almost 10 percent
B) approaches 20 percent
C) is 25 percent
D) exceeds 50 percent
E) is at least 70 percent

D) exceeds 50 percent

The domestic food industry ________, so Kraft Foods is focusing on foreign acquisitions.
A) is falling 5% per year
B) is falling 1% per year
C) is stagnant
D) is growing 3% per year
E) is growing 7% per year

D) is growing 3% per year

Joint ventures and partnerships between domestic and foreign firms are
A) falling out of favor.
B) increasingly difficult to engineer.
C) the exception rather than the rule.
D) extremely commonplace.
E) subject to too many regulations to be feasible.

D) extremely commonplace.

What percent of the world's population lives in the United States?
A) 5
B) 10
C) 15
D) 85
E) 95

A) 5

Which of the following U.S. industries is NOT yet greatly challenged by foreign competitors?
A) Aircraft manufacturing
B) Auto manufacturing
C) Heavy equipment manufacturing
D) Tire manufacturing
E) Furniture manufacturing

E) Furniture manufacturing

Which U.S. industry is already greatly challenged by foreign competitors?
A) Printing
B) Retailing
C) Retail banking
D) Consumer packaged goods
E) None of the above

E) None of the above

The lowest cost source for precision machinery is
A) Japan.
B) Sri Lanka.
C) Malaysia.
D) Europe.
E) Mexico.

D) Europe.

________ is a process of doing business worldwide, so strategic decisions are made based on global profitability of the firm rather than just domestic considerations.
A) Multinational corporation
B) Protectionism
C) Globalization
D) Assimilation
E) World recession

C) Globalization

In South Korea, activities involve concern for ________, or harmony based on respect of hierarchical relationships, including obedience to authority.
A) guanxi
B) inhwa
C) feng shui
D) nemaswashio
E) Wa

B) inhwa

In Europe it is generally true that the farther ________ on the continent, the more participatory the management style.
A) south
B) east
C) west
D) north
E) southeast

D) north

Which of the following is NOT true regarding European workers and workplaces?
A) Most European workers are unionized.
B) Most European workers enjoy more frequent vacations and holidays than U.S. workers.
C) Guaranteed permanent employment is typically a part of employment contracts in Europe.
D) Many Europeans respond enthusiastically to pay-for-performance, commission salaries, and objective measurement reward systems.
E) Many Europeans find the notion of team spirit difficult to grasp.

D) Many Europeans respond enthusiastically to pay-for-performance, commission salaries, and objective measurement reward systems.

In general, U.S. managers feel the day has been productive if it is spent
A) rushing to meetings and conferences.
B) resting.
C) listening.
D) meditating.
E) thinking.

A) rushing to meetings and conferences.

Marketing managers in Japan see making a sale ________ the selling process.
A) as the beginning of
B) as the end of
C) as the midpoint of
D) as unrelated to
E) None of the above

A) as the beginning of

Americans place an exceptionally high priority on ________ whereas many foreigners place more worth on ________.
A) time; relationships
B) relationships; time
C) silence; time
D) silence; relationships
E) formality; informality

A) time; relationships

All of the following are things that many cultures around the world value more than the competitiveness that is so important in the USA EXCEPT
A) modesty.
B) team spirit.
C) individualism.
D) collectivity.
E) patience.

C) individualism.

U.S. managers in Japan have to be careful about ________, whereby Japanese workers expect supervisors to alert them privately of changes rather than informing them in a meeting.
A) feng shui
B) nemaswashio
C) Wa
D) guanxi
E) inhwa

B) nemaswashio

Desire for ________ is a part of the social fabric in worker-manager relations in Mexico.
A) harmony
B) friction
C) conflict
D) independence
E) punctuality

A) harmony

Whereas ________ businesses embody individualism, achievement, competition, and informality, ________ businesses stress collectivism, continuity, cooperation, and formality.
A) Japanese; Mexican
B) Mexican; Japanese
C) Mexican; American
D) American; Mexican
E) Japanese; American

D) American; Mexican

How does life in Mexico compare to life in the United States?
A) It is faster.
B) It is more hectic.
C) It is more punctuality-driven.
D) It is slower.
E) It is more competitive.

D) It is slower.

Which of the following is NOT a typical characteristic of most Japanese managers?
A) Reserved
B) Quiet
C) Distant
D) Impulsive
E) Introspective

D) Impulsive

Which of the following is NOT true concerning the Japanese concept of Wa?
A) Nearly all corporate activities in Japan encourage Wa among managers and employees.
B) Discussions potentially disruptive to Wa are generally conducted in very formal settings.
C) The potential attractiveness of alternative business decisions are evaluated in terms of their long-term effect on the group's Wa.
D) Entertaining is an important business activity in Japan because it strengthens Wa.
E) The Wa concept involves group loyalty and consensus.

B) Discussions potentially disruptive to Wa are generally conducted in very formal settings.

Which group generally softens up executives with praise before they criticize?
A) Americans
B) Italians
C) Germans
D) French
E) All of the above

A) Americans

Which of the following nations has the highest corporate tax rate?
A) Ireland
B) The USA
C) Great Britain
D) France
E) Germany

B) The USA

To avoid paying U.S. taxes on income made in other countries, many U.S. companies are ________ outside the USA but ________ inside the USA.
A) cash-poor; cash-rich
B) cash-rich; cash-poor
C) unincorporated; incorporated
D) cash-poor; incorporated
E) unincorporated; cash-rich

B) cash-rich; cash-poor

Many people consider it unethical for a firm to be socially irresponsible.

True

Social responsibility refers to actions an organization takes that are legally required to protect or enhance the well-being of living things.

false

Sustainability refers to the extent that an organization's operations and actions protect, mend, and preserve rather than harm or destroy the natural environment.

true

Good ethics is not a prerequisite for good strategic management.

false

According to a study by the Institute of Business Ethics, companies that do not display ethical conduct consistently outperform companies that show a clear commitment to ethical conduct.

false

Bad ethics can derail all but the best strategic plans.

false

Business ethics can be defined as principles of conduct within organizations that guide decision making and behavior.

true

A rising tide of consciousness about the importance of business ethics is sweeping the United States and the rest of the world.

true

CEOs and business owners should delegate the responsibility for ensuring that high ethical principles are espoused and practiced in an organization.

false

Some of the largest payouts for class-action legal fraud suits ever were against Enron ($7.16 billion) and WorldCom ($6.16 billion).

true

Dumping banned or flawed products in foreign markets is considered to be an unethical business practice.

true

Moving jobs overseas is not considered to be an unethical business practice.

false

A new wave of ethics issues has accentuated the need for strategists to develop a clear code of business ethics.

true

Having a code of ethics ensures ethical business behavior.

false

Periodic ethics workshops can help sensitize people to workplace circumstances in which ethics issues may arise.

true

Whistle-blowing refers to policies that require employees to report any unethical violations they discover or see in the firm.

true

Most firms warn managers and employees that reporting an ethical violation by others, also known as whistle-blowing, could cause them to be discharged.

false

Primary responsibility for ensuring ethical behavior rests with middle- and low-level managers, since they are in a position to influence many employees.

false

More and more firms believe that ethics training and an ethics culture create strategic advantage.

true

History has proven that the lower the trust and confidence of people in the ethics of an institution or society, the greater its economic strength.

false

Integrating ethical decision making into the performance appraisal process is one way that firms can align ethical and strategic decision making.

true

Monitoring departmental and corporate performance regarding ethical issues can cause firms to misalign ethical and strategic decision making.

false

A bribe is a gift bestowed to influence a recipient's conduct.

true

In order to be considered bribery, the gift offered must be either money or a physical item.

false

In some foreign countries, paying bribes and kickbacks is acceptable.

true

Avon Products is being investigated for bribery charges related to their winning the first direct-sales license awarded by China to a foreign company.

true

A recent Wall Street Journal article reported that 80 percent of all firms sampled had no restrictions on relationships between a supervisor and a subordinate.

false

European firms are increasingly adopting explicit, American-style sexual harassment laws.

true

In Europe, romantic relationships at work are frowned upon, and most firms have policies prohibiting the practice.

false

The EEOC recovers about $500 million on behalf of office romance victims.

true

Some strategists agree with Ralph Nader, who asserts that organizations have no obligation to do any more for society than is legally required.

false

Ralph Nader believes that big firms like ExxonMobil, which has more assets than most countries, have an obligation to help society cure its many ills.

true

The first social responsibility of any business must be to make enough profit to cover the costs of the future because if this is not achieved, no other social responsibility can be met.

true

Social policy concerns what responsibilities the firm has to employees, consumers, environmentalists, minorities, communities, shareholders, and other groups.

true

After decades of debate and struggle, firms have finally definitively determined the appropriate social policies.

false

Corporate social policy should be designed and articulated during strategy formulation.

true

Corporate social policy should be reaffirmed or changed during strategy implementation.

false

In 2012, GDF Suez, Marquard & Bahls, and RWE were the three most admired socially responsible companies according to Fortune magazine.

true

In 2012, Chinese firms dominated Fortune magazine's list of the least admired companies from a social responsibility perspective.

true

Firms should strive to engage in social activities that have no economic benefits, to avoid their being viewed as public relations ploys.

False

Orphan drugs offer pharmaceutical companies no economic incentive for profitable development and distribution.

true

The percentage of persons age 65 or older exceeds 20 percent in Japan, Italy, and Germany.

true

The percentage of persons age 65 or older will reach 20 percent in the United States in 2018.

false

Like the United States, Japan is eager to rely on large-scale immigration to bolster its workforce.

false

Japan is providing incentives for its elderly to work until ages 65-75.

true

Unlike the USA, Japan has no law against discrimination based on age.

true

Companies such as Walmart are now monitoring not only the prices its vendors offer for products, but also how those products are made in terms of environmental practices, as well as safety and infrastructure soundness.

true

While it is socially responsible to be a good steward of the natural environment, doing so will not enable a firm to gain competitive advantage.

false

New Jersey's goal is to obtain 3 percent of its electricity from the sun and 12 percent from offshore wind by 2020.

true

California is the nation's second-largest producer of solar energy.

false

Sustainability reports reveal how a firm's operations impact the natural environment.

true

Employee wellness cannot be a part of sustainability.

False

Some ways in which firm's are working to be more environmentally responsible include using solar power and selling organic and environmentally friendly products.

true

It has gotten easier for firms to get away with placing "green" terminology on their products and labels because there are still no legal or generally accepted definitions of terms like "organic," "green," "safe," or "earth-friendly."

false

There is no country that favors or engages in commercial whaling today.

false

According to the Convention on the International Trade in Endangered Species (CITES), more than 25,000 elephants are killed each year for their ivory—even though international trade in ivory has been outlawed since 1989.

true

Workplace romance and sexual harassment are synonymous.

false

ISO, the world's largest developer of sustainability standards, is legally authorized to enforce their standards.

false

The ISO 14000 family of standards concerns the extent to which a firm minimizes harmful effects on the environment caused by its activities and continually monitors and improves its own environmental performance.

true

ISO 14001 is a technical standard and as such replaces technical requirements embodied in statutes or regulations.

false

Sustainability refers to the extent that an organization's operations and actions ________ the natural environment.
A) protect
B) mend
C) preserve
D) reflect good stewardship of
E) All of the above

E) All of the above

Business ethics, ________, and sustainability issues are interrelated and impact all areas of the comprehensive strategic-management model.
A) social responsibility
B) social networking
C) fiscal irresponsibility
D) cultural indifference
E) None of the above

A) social responsibility

Workplace romance
A) is defined as unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.
B) is defined as illegal by the Equal Employment Opportunity Commission.
C) should be strictly forbidden by organizations.
D) simply happens so organizations should determine how to best manage the phenomena.
E) is an intimate relationship between two employees, one of whom is not consenting.

D) simply happens so organizations should determine how to best manage the phenomena.

Bad ethics can ________ strategic plans.
A) derail all but the best
B) derail even the best
C) derail only poorly-intentioned
D) derail only ill-conceived
E) never affect

B) derail even the best

________ are the individuals primarily responsible for ensuring that high ethical principles are espoused and practiced in an organization.
A) Non-management employees
B) Mid-level managers
C) Shareholders
D) Strategists such as CEOs and business owners
E) Governmental regulatory bodies

D) Strategists such as CEOs and business owners

Which of the following companies ranks among those against whom some of the largest payouts for class-action legal fraud suits ever were judged?
A) AOL Time Warner
B) Walt Disney
C) Starbucks
D) Herman Miller
E) Edison

A) AOL Time Warner

All of the following business actions are considered to be unethical EXCEPT
A) moving jobs overseas.
B) preventing environmental harm.
C) overpricing.
D) sexual harassment.
E) insider trading.

B) preventing environmental harm.

Which of the following business actions is considered to be unethical?
A) Having satisfactory product or service safety
B) Selling products in foreign markets
C) Providing equal opportunities for women and minorities
D) Filing expense accounts
E) Misleading labeling

E) Misleading labeling

Unethical activities that plague online commerce include all of the following EXCEPT
A) inappropriate gifts.
B) spreading viruses.
C) identity theft.
D) Internet fraud.
E) hacking into company computers.

A) inappropriate gifts.

A code of business ethics is
A) sorely needed in light of a new wave of ethical issues including product safety, employee health, and sexual harassment.
B) concerned with what responsibilities the firm has to employees, consumers, environmentalists, minorities, communities, and other groups.
C) a report that reveals how the firm's operations impact the natural environment.
D) a set of strict regulations requiring firms to conserve energy.
E) a series of voluntary standards in the environmental field.

A) sorely needed in light of a new wave of ethical issues including product safety, employee health, and sexual harassment.

Simply having a code of ethics
A) will ensure ethical business behavior.
B) eliminates the need for periodic ethics workshops.
C) is all that is necessary to sensitize people to workplace circumstances in which ethics issues may arise.
D) is insufficient to guarantee that employees behave in an ethical manner.
E) secures an ethics culture in the workplace.

D) is insufficient to guarantee that employees behave in an ethical manner.

Which of the following is NOT a way that companies can help create an ethical culture in their organization?
A) Outlining ethical expectations
B) Giving examples of ethical situations that commonly occur in their businesses
C) Providing code-of-conduct manuals
D) Creating interactive exercises that pose hypothetical ethical dilemmas
E) Discouraging whistle-blowing

E) Discouraging whistle-blowing

________ refers to policies that require employees to report any unethical violations they discover or see in the firm.
A) Whistle-blowing
B) Bribery
C) Adultery
D) Sustainability
E) Stewardship

A) Whistle-blowing

Responsibility for encouraging ethical decision making and ensuring ethical behavior in a firm lies with
A) only a firm's strategists.
B) only a firm's managers.
C) only a firm's shareholders.
D) both a firm's strategists and its managers.
E) neither a firm's strategists nor its managers.

D) both a firm's strategists and its managers.

More and more firms believe that ethics training and an ethics culture
A) are socially irresponsible.
B) are admirable but damage a firm's competitive positioning.
C) are costly and provide no practical benefit to the company.
D) create strategic advantage.
E) can tarnish the reputation of a firm.

D) create strategic advantage.

Ethics training programs should contain which of the following?
A) Messages from the CEO or business owner emphasizing ethical business practices
B) The development and discussion of codes of ethics
C) Procedures for discussing unethical behavior
D) Procedures for reporting unethical behavior
E) All of the above

E) All of the above

Firms can align ethical and strategic decision making by
A) omitting ethical considerations from long-term planning.
B) excluding ethical decision making from the performance appraisal process.
C) discouraging whistle-blowing.
D) monitoring departmental and corporate performance regarding ethical issues.
E) All of the above

D) monitoring departmental and corporate performance regarding ethical issues.

Bribery involves
A) bestowing a gift to influence the recipient's conduct.
B) requiring employees to report any unethical violations they discover or see in the firm.
C) prohibiting love affairs between bosses and their subordinates.
D) encouraging firms to play a role in curing society of its ills.
E) forcing companies to take responsibility for the impact their actions have on society.

A) bestowing a gift to influence the recipient's conduct.

The U.S. Foreign Corrupt Practices Act and a new provision in the Dodd-Frank financial regulation-law allows company employees who bring cases of financial fraud, such as bribery, to the government's attention to receive ________ percent of any sum recovered.
A) less than 10
B) exactly 20
C) up to 30
D) about 40
E) at least 50

C) up to 30

The United Kingdom's new Bribery Law
A) is less stringent than the similar U.S. FCPA.
B) carries a minimum 10-year prison sentence for those convicted of bribery.
C) allows foreign companies doing business in the UK to bribe officials if that is their national convention.
D) stipulates that failure to prevent bribery is an offense.
E) All of the above

D) stipulates that failure to prevent bribery is an offense.

According to a recent Wall Street Journal article, ________ percent of all firms sampled had no restrictions on boss-subordinate love affairs at work.
A) 5
B) 13
C) 24
D) 39
E) 80

A) 5

According to the text, the first social responsibility of any business is to
A) make enough profit to cover the costs of the future, because if this is not achieved then no other social responsibility can be met.
B) avoid laying off employees so as to protect the employees' livelihood, even if that decision may force the firm to liquidate.
C) engage in social activities that have no economic benefits, to avoid the appearance of a public relations gimmick.
D) offer courses and training in environmental management.
E) None of the above

A) make enough profit to cover the costs of the future, because if this is not achieved then no other social responsibility can be met.

Social policy can best be defined as
A) the responsibilities a firm has to employees, consumers, environmentalists, minorities, communities, shareholders, and other groups.
B) a document providing behavioral guidelines that cover daily activities and decisions within a firm.
C) an SEC mandate to report any unethical behavior.
D) the legal requirement to reveal how a firm's operations impact the natural environment.
E) mandatory technical standards that result in an environmental management system.

A) the responsibilities a firm has to employees, consumers, environmentalists, minorities, communities, shareholders, and other groups.

Which of the following was among the most admired companies for social responsibility in 2012 according to Fortune magazine?
A) GDF Suez
B) China Railway Group
C) China Railway Construction
D) China State Construction Engineering
E) Kirin Holdings

A) GDF Suez

________ was socially responsible in the wake of the earthquake and tsunami that devastated Japan in 2011; it also was able to get supplies to people who needed them following Hurricane Katrina.
A) China Railway Group
B) GDF Suez
C) Walmart
D) RWE
E) Marquard & Bahls

C) Walmart

Firms should strive to engage in social activities that
A) have economic benefits.
B) have no economic benefits.
C) are detrimental to economic growth.
D) drain financial resources.
E) garner goodwill only, not profits.

A) have economic benefits.

The percentage of persons age 65 or older exceeds 20 percent in Japan, Italy, and
A) Germany.
B) the USA.
C) France.
D) China.
E) All of the above

A) Germany.

Japan's prescription for dealing with problems associated with an aging society includes
A) relying on large-scale immigration.
B) providing incentives for its elderly to retire at ages 55 to 60.
C) reversing the old-fashioned trend of keeping women at home.
D) enacting laws against discrimination based on age.
E) phasing in a shift from age 60 to age 55 as the date when a person may begin receiving a pension.

C) reversing the old-fashioned trend of keeping women at home.

Japan is suffering from a decline in overall economic production
A) due to its growing population.
B) related to the declining age of its workforce.
C) because of a surge in the number of its taxpaying workers.
D) since worker productivity increases are not able to offset declines in number of workers.
E) because more and more women are working outside the home.

D) since worker productivity increases are not able to offset declines in number of workers.

If a firm has a bad sustainability record this will
A) help a firm in the market.
B) improve a firm's standing in the community.
C) cause investors to closely scrutinize the firm.
D) deflect the scrutiny of a firm by environmentalists.
E) release the firm from governmental reporting obligations.

C) cause investors to closely scrutinize the firm.

Which state generates the greatest number of megawatts of wind power?
A) Texas
B) Iowa
C) California
D) Minnesota
E) New Jersey

A) Texas

A document that discloses to shareholders information about a firm's labor practices, product sourcing, energy efficiency, environmental impact, and business ethics practices is known as
A) a code of ethics.
B) a sustainability report.
C) an EMS.
D) ISO 14000.
E) green terminology.

B) a sustainability report.

It is ________ for a business to provide a sustainability report annually to the public.
A) good business
B) irresponsible
C) a decreasing trend
D) unethical
E) poor planning

A) good business

Walmart encourages its employees to adopt "Personal Sustainability Projects" like weight-loss or smoking-cessation support groups, illustrating that
A) employee wellness can be a part of sustainability.
B) employee health issues have no business in the workplace.
C) firms should crack down on employees' personal interests infringing upon business hours.
D) the Global Reporting Initiative requires this of all U.S. companies.
E) a company's interest in its employees should be restricted solely to their work duties.

A) employee wellness can be a part of sustainability.

All of the following are reasons that workplace romance can be detrimental to workplace morale and productivity EXCEPT
A) favoritism complaints can arise.
B) personal arguments can lead to work arguments.
C) whispering secrets can lead to tensions and hostilities among coworkers.
D) increased quality and quantity of work can occur.
E) sexual harassment charges may ensue, either by the involved female or a third party.

D) increased quality and quantity of work can occur.

Managers and employees today must be careful not to ignore, conceal, or disregard a pollution problem or they could
A) be fired.
B) be demoted.
C) be held indirectly responsible for their firm's pollution.
D) have their firm turn on them in a quest for leniency.
E) All of the above

E) All of the above

It has become ________, since uniform standards defining environmentally responsible company actions are rapidly being incorporated into our legal landscape.
A) more and more difficult for firms to make "green" claims when their actions are not substantive or even true
B) increasingly easy for firms to get away with placing "green" terminology on their products without any oversight
C) customary for firms to use terms like "organic," "green," or "earth-friendly" when their products don't warrant it
D) more common for consumers to be cynical about corporate environmental claims
E) impossible for firms to omit "green" terminology from their labels

A) more and more difficult for firms to make "green" claims when their actions are not substantive or even true

Which is a rule from the Wall Street Journal article "The New Rules of Flirting"?
A) Do not flirt within a relationship that you want to strengthen.
B) Do flirt with someone you know is looking for a relationship if you are not interested in a new relationship.
C) Do flirt to make your partner jealous.
D) Flirting between power differences, such as boss and employee, is usually fine.
E) Do not make physical contact with the person you are flirting with, unless it is within a desired relationship.

E) Do not make physical contact with the person you are flirting with, unless it is within a desired relationship.

Alaska and oil companies contend that protections for polar bears ________.
A) are not aggressive enough and must be strengthened
B) are diminishing opportunities for Alaska energy development
C) help push Alaskan companies to explore alternative energy sources
D) are ineffective and actually have caused populations in Alaska to decrease
E) are long overdue and must be enacted immediately

B) are diminishing opportunities for Alaska energy development

What challenge facing all organizations requires managers to formulate strategies that preserve and conserve natural resources and control pollution?
A) Economic
B) Ecological
C) Compensational
D) Benchmarking
E) Sociological

B) Ecological

Special natural environment issues include all of the following EXCEPT
A) ozone depletion.
B) destruction of animal habitats.
C) pollution control.
D) spreading computer viruses.
E) developing biodegradable products and packages.

D) spreading computer viruses.

In an effort to manage ecological challenges, many companies are
A) moving environmental affairs from the staff side of the organization to the line side.
B) moving environmental affairs from the line side of the organization to the staff side.
C) making the chief operating officer report directly to the corporate environmental group.
D) omitting an environmental representative from their board of directors.
E) purging environmental values from their mission statements.

A) moving environmental affairs from the staff side of the organization to the line side.

Environmental advocacy groups now have ________ Americans as members.
A) approximately 100,000
B) just under a million
C) close to 5 million
D) over 20 million
E) almost a billion

D) over 20 million

Preserving the environment should be a permanent part of doing business for which of the following reasons?
A) Consumer demand for environmentally safe products and packages is low.
B) Public opinion demanding that firms conduct business in ways that preserve the natural environment is weak.
C) Federal and state environmental regulations are fairly simple and static.
D) Many consumers, suppliers, distributors, and investors shun doing business with environmentally strong firms.
E) More lenders are examining the environmental liabilities of businesses seeking loans.

E) More lenders are examining the environmental liabilities of businesses seeking loans.

A proactive environmental policy is likely to lead to
A) higher cleanup costs.
B) conservation of energy.
C) reduced customer loyalty.
D) numerous liability suits.
E) higher medical costs.

B) conservation of energy.

The ________ is a network of the national standards institutes of 147 countries, one member per country.
A) ISO
B) EMS
C) UN
D) EPA
E) IMF

A) ISO

All of the following statements are true EXCEPT
A) ISO is the world's largest developer of sustainability standards.
B) ISO standards are widely accepted all over the world.
C) ISO has legal authority to enforce its regulations' implementation.
D) ISO standards are voluntary.
E) ISO itself does not regulate or legislate.

C) ISO has legal authority to enforce its regulations' implementation.

________ is a set of standards in fields such as environmental auditing, performance evaluation, and labeling, that is adopted by thousands of firms worldwide to certify to their constituencies that they are conducting business in an environmentally friendly manner.
A) ISO 14001
B) EMS 14000
C) UN 5000
D) SEC 100
E) A sustainability report

A) ISO 14001

The European Parliament in late 2012 voted with an overwhelming 566-47 margin to
A) reinstate commercial whaling.
B) eradicate the practice of shark finning.
C) add polar bears to the list of endangered species.
D) outlaw international trade in ivory.
E) None of the above

B) eradicate the practice of shark finning.

The Wall Street Journal article "America Gone Wild"
A) reports an astonishing resurgence in wildlife populations in the USA.
B) cites that deer-vehicle crashes in the USA cost $1.5 billion a year.
C) describes damage done to U.S. infrastructure by the resurgence in wildlife.
D) reveals that the total annual cost of wildlife damage in the USA exceeds $28 billion.
E) All of the above

E) All of the above

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