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Terms in this set (17)
The fact that a McDonald's in Indonesia might provide sambal chili sauce to its customers rather than ketchup is as an example of ________.
A. acculturation
B. consumerism
C. enculturation
D. globalization
acculturation
What is the major difference between enculturation and acculturation?
Enculturation is the process by which humans learn the characteristics, values, and rules to participate in a society more generally, whereas acculturation is the introduction of the values, worldview, philosophy, or practice of one culture into another.
How might consumerism be at odds with the growing concern for business ethics?
As an extreme preoccupation with buying and owning, consumerism runs counter to the new sensitivity to ethics and human flourishing in business, because it defines people not by their humanity but by their purchasing power.
True or False? Globalization is evidence that business is culturally neutral.
false
Protecting owners' interests was a common
feature of ________.
A. the Industrial Revolution
B. the Information Age
C. the Dodd-Frank Act
D. muckraking
the industrial revolution
true or false? All ethical standards are relative and should be treated as such.
false
True or false? The United Nations Global Compact is a set of standards that is binding worldwide
false
What did the decision in Shlensky v. Wrigley (1968) establish in ethical terms? How does it compare to the decision in Dodge v. Ford Motor Company (1919)?
Shlensky v. Wrigley gave boards of directors and management more latitude in determining how to balance the interests of stakeholders. This was in contrast to Dodge v. Ford Motor Company, which validated the rule of shareholder primacy.
Values of Protestant Christianity were often used to justify ________.
mercantilism
Standard Oil's overseas investments
business success during the Industrial Revolution
secular humanism
business success during the Industrial Revolution
True or false? Religion continues to be a forceful influence on ethical systems.
true
Define localization and name at least three items that might be included as part of a localization effort.
Localization is the process of adapting a product for use or sale in other nations and cultures. This might include language translation, adapting content to the tastes and consumption habits of the local market, and converting measurements.
How would you reconcile cultural differences between so-called contact and noncontact cultures in the context of business negotiations?
This can be a matter of managing expectations. Managers must do the work required for any business deal but deliver it in a way that is culturally sensitive, even if that means negotiating details like project deadlines and the conduct of meetings and agreeing to have different expectations of those in a different cultural context.
Businesses today are concerned with balancing profitability with responsibility. Therefore, they should ________.
pay attention to culture
go beyond compliance
hire moral people
hire outside consultants to monitor their supply chain.
pay attention to culture
What are the levels upon which business ethics
exists?
compliance and governance
federal, state, and local
normative and descriptive
individual, organizational, and societal
individual, organizational, and societal
Why is conscience the locus or center of ethical behavior in business?
Conscience is the locus of ethical behavior in business because individuals acting in free association make up the business or organization. They are motivated by their inner voice to act responsibly toward each other and their stakeholders—or not.
Describe the challenge of identifying a universal set of ethics.
Although many agree on the importance of goals like acting with honesty and fairness and treating people as ends rather than means, their implementation is extremely complex, because people have different understandings of what is honest, fair, or an end in itself. The result may be a series of diverse rules rather than one set.
How does humanities in ethics differ from a humanistic business model?
A humanistic business model focuses on leadership development and the data of social science about how to motivate people. Humanities in ethics looks to case methods, novels, short stories, and plays to gain insight into human behavior.
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QUESTION
What are some differences in the analysis for a replacement project versus that for a new expansion project?
Verified answer
QUESTION
Allison and Leslie, who are twins, just received $10,000 each for their 25th birthday. They both have aspirations to become millionaires. Each plans to make a$5,000 annual contribution to her “early retirement fund” on her birthday, beginning a year from today.Allison opened an account with the Safety First Bond Fund, a mutual fund that invests in high-quality bonds whose investors have earned 8% per year in the past. Leslie invested in the high-quality bonds whose investors have earned 8% per year in the past. Leslie invested in the investors have earned an average of 13% per year in the fund’s relatively short history. a. If the two women’s funds earn the same returns in the future as in the past, how old will each be when she becomes a millionaire? b. How large would Allison’s annual contributions have to be for her to become a millionaire at the same age as Leslie, assuming their expected returns are realized? c. Is it rational or irrational for Allison to invest in the bond fund rather than in stocks?
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QUESTION
Calculate the required rate of return for Mudd Enterprises assuming that investors expect a 3.6% rate of inflation in the future. The real risk-free rate is 1.0%, and the market risk premium is 6.0%. Mudd has a beta of 1.5, and its realized rate of return has averaged 8.5% over the past 5 years.
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QUESTION
Why are interest charges not deducted when a project’s cash flows for use in a capital budgeting analysis are calculated?
Verified answer
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