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Unformatted text preview: BUS 682 ‐ Exam #1 Study Guide Here is a complete list of topics that might be covered on the first midterm exam. You should be able to define or explain terms or concepts, discuss their significance (explain why they matter), and to apply them to real world examples where appropriate. If there’s anything you don’t understand, be sure to ask (in class, ideally) before the exam. • Corporate Social Responsibility o Principal‐Agent model of the firm. o Arguments for and against CSR. o How did corporations come to be treated as legally fictitious “persons”? o Some critics claim that if the corporation is indeed a person, it is a sociopath by nature. What are some of their arguments? • Business ethics o James Rest’s model of ethical decision‐making – How/why do executives so often take unethical actions? (Explain: Recognition, Reasoning, Action). o Ethical reasoning: Utilitarianism, Virtue, Rights, Justice. Ethical egoism. Difficulties/problems applying each in the real world? o Conflict of interest: Fiduciary duty, definition of CoI, & ways to reduce its adverse impacts (Explain: Eliminate, Disclose, Manage) o What are some reasons that Disclosure of CoI might not always be an effective way to deal with CoI? • Globalization o What, exactly, is meant by “Globalization?” What conditions does it require? o WTO, GATT, NGO, NAFTA (What do these acronyms refer to?) o What are the WTO’s primary objectives? o What trade issues/barriers were rich developed countries most concerned about in the most recent GATT round? How about rural and developing nations? o Arguments for and against “free trade” and globalization. o Foreign Corrupt Practices Act – What it prohibits, requires, and allows. • Business & the media o Media mergers ‐ From a public interest (i.e., not business) perspective, what are the major arguments for and against allowing concentration and cross‐ownership of local TV, radio, and newspapers? o Which media conglomerates own these major news outlets: ABC, CBS, NBC, CNN, FOX? o What are the various ways that Public Relations firms and professionals attempt to influence perceptions and opinions? o Video News Releases (VNRs) ‐ What are they? How are they used? Are TV news shows required to disclose their source? ...
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- Spring '11