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Chapter 9. Ethics, Corporate Social Responsibility, EnvironmentalSustainability AssignmentTrue or false: Ethical principles in business differ substantially from general ethical principles in society.TrueReason:Ethical principles in business are not materially different from ethical principles.FalseAdherents of ethical universalism are likely to believe thattreating others with decency is something a businessperson learns how todo over time.common agreement about right and wrong is the basis for ethical standards that apply to all businesspeople.a corporation needs to be pragmatic as it balances financial goals with notions of right and wrong.Reason:This does not describe either the school of ethical universalism or the school of ethical relativism.societies with strong religious traditions produce the most ethical businesspeople.Which of the following statements accurately reflect how ethical standards vary among different cultures?Managers in Muslim countries, in contrast to European managers, tend to derive business ethics from secular standards instead of religious values.Chinese managers, in contrast to American and European managers, are likely to establish ethical standards that protect human rights.Japanese managers, in contrast to managers in other countries, are likely to highly value showing respect for the collective good of society.European managers, in contrast to Chinese managers, tend to emphasizebusiness standards that protect workers' freedom of political opinion.Which set of standards takes precedence in integrative social contracts theory?whatever is prescribed in the "moral-free space" of the contractReason:"Moral-free space" is a side effect of integrative social contracts theory, but it does not take precedence.
whatever the managers of the company decidelocal ethical standardsReason:Local ethical standards take precedence in the school of ethical relativism.universal ethical normsWhich of the following statements about official codes of ethical conduct is most accurate?In the United States, publicly traded companies must have an official code of ethics or explain why they do not have one.Having a mandated code of ethics ensures that a company will abide by ethical standards.Reason:Simply having a mandated code of ethics is not enough to ensure that a company will abide by ethical standards.The Sarbanes-Oxley Act has established a test that determines whether an official code of ethics is cosmetic.Reason:The Sarbanes-Oxley Act requires that companies whose stock is publicly traded have a code of ethics or else explain in writing to the SEC why they do not.The Securities and Exchange Commission requires companies based overseas to have an official code of ethics.