Why might business customers generally be considered more rational in their purchasing behavior than ultimate consumers?
MRKT 110 CLASS
Discussion 4.1
Q 1. Why might business customers generally be considered more rational in their purchasing behavior than ultimate consumers?
Discussion 4.2
Q 2. If you were asked to provide a small tip (or bribe) to have a document approved in a foreign nation where this practice is customary, what would you do?
BUS 230 CLASS
Discussion 4.1
Reading 4.2. Check moral categories. Are you able to place yourself in any of these categories? Why?
Discussion 4.2
Describe the use of steroids in professional baseball, and determine how the practice progressed layers and became so pervasive in the industry.
BUS 230 CLASS
Test: Midterm (Units 1-3)
Q1. The conflicting values in the Time Warner Ice-T case are:
a.
First Amendment rights and duty of business to its larger community.
b.
None of the above
c.
Purchasing conflicts and investments.
d.
There were no conflicting values because everyone agreed with Time Warner.
e.
Conflicts of interest and personal honesty
Q2. What did the inspection reports of Blue Bell Ice Cream not indicate?
a.
That there was damaged equipment
b.
That there was recall creep
c.
That there was Listeria in the plants
d.
Both a and b
Q3 Top of Form
Allison Bond is dating Greg Evans. Both Allison and Greg work for the same federal contractor. They live on different sides of the closest city and commute separately to work. Employees are required to have parking decals issued to them for parking in the company lot. The decals are issued to individual employees and matched to their vehicles because of security reasons. The top secret work of the contractor requires that security be able to identify cars in the lot as associated with employees. Greg has a decal and Allison does not because there is a $100 annual fee for processing employees’ decals. Employees are given the option of parking at an open lot 2 miles from the company and taking a free bus ride to the company building. Greg has been assigned to work out of the country for the company for three months. Greg tells Allison to just use his decal for three months. Allison’s car is similar to Greg’s. Allison has begun using Greg’s decal to park in the company lot to avoid the 2-mile bus ride. Which of the following statements is correct?
a.
Because Allison’s car is similar to Greg’s a security issue will not result, so there is no ethical issue in her use of the decal.
b.
None of the above
c.
Because Allison works at the company, her use of another employee’s decal is not an ethical issue.
d.
Because Allison’s use is only temporary, there is no ethical issue.
Bottom of Form
Q4. A customer of a small remodeling firm wrote an online review, “They are the worst. They took 4 weeks longer than they said. The quality of work was poor. I had a really bad experience with them.” Which of the following is accurate about this review?
a.
The review is legal if the writer was actually a customer of the company.
b.
It is illegal to post such reviews online.
c.
The customer cannot include opinions such as, “They are the worst.”
d.
The FTC can remove the review from online.
Q5. he only ethical issue involved in the Valeant case was its pricing model.
a. True
b. False
Q6. John Stuart Mill wrote The Moral Sentiments of Markets.
a. True
b. False
Q7. Which of the following is not a Goldman cultural philosophy?
a.
The customer is first and foremost
b.
Long-term greedy
c.
Don’t kill the marketplace
d.
Filthy rich by forty
Q8. Primum non nocere is associated as an ethical philosophy of:
a.
Aristotle.
b.
Laura Nash.
c.
Plato.
d.
Peter Drucker.
Q9. Jane Smithson’s 13-year-old son has an essay due in school tomorrow. Her son has been ill and unable to finish the essay. Jane felt it best to let her son go to sleep so that he could return to school tomorrow. Jane writes the essay for her son. Jane has concluded her writing the essay was justified and necessary. Into which school of ethical theories would Jane fall?
a.
Moral relativism
b.
Virtue ethics
c.
Categorical imperative and Kant
d.
Divine command
Q 10. “Whack a mole” results once an unethical course of action begins.
a. True
b. False
Q 11. What happened to the prosecutors in the Stevens case?
a.
They were disbarred
b.
One committed suicide
c.
They were cleared of any misconduct
d.
None of the above
Q 12. CDOs:
a.
Are collateralized debt obligations.
b.
Are not securities.
c.
Could not be hedged.
d.
Are illegal.
Q 13. Which of the following would not be acceptable behavior in business according to Albert Carr?
a.
Planned obsolescence
b.
Saying you read certain magazines in order to get a job
c.
All of the above are acceptable behavior to Carr
d.
Bribing employees to get technological information from competitors
Q 14. Hubris is at the core of the Bathsheba Syndrome.
a. True
b. False
Q 15. What happened to Solyndra?
a.
It is in litigation with the state of California over an environmental cleanup from its operations
b.
It avoided bankruptcy with additional capital infusions from the Department of Energy
c.
It successfully developed a mass market for solar panels
d.
It was able to sell its share publicly and expand its production after initial government funding
Q 16. What past changes had Time Warner made based on public protests on content?
a.
Withdrew Last Temptation of Christ
b.
All of the above
c.
Corrected Porky Pig’s stutter
d.
Withdrew Madonna’s book
Q 17. Which of the following is correct about the University of North Carolina special admits program?
a.
All of the above
b.
Some involved in the early days of the program were concerned about its effect
c.
It violated NCAA rules
d.
It was a program that was used for admitting students beyond just student-athletes
Q 18. “We didn’t think of them as bribes. We thought of them as useful expenditures,” is an example of virtue ethics.
a. True
b. False
Q 19. Which of the following best reflects the Patriots’ attitude about rules?
a.
Taking creative advantage is not breaking any rules.
b.
There is not a clear line between bend and break.
c.
There is a difference between rule-breaking and rule-bending.
d.
All of the above
Q 20. Misrepresentations about experience are the most common executive falsification in their résumés .
a. True
b. False
Q 21. What were the NCAA sanctions originally imposed on Penn State?
a.
Penn State was stripped of all of Paterno’s 112 wins
b.
The so-called death penalty plus a fine
c.
There were no sanctions except a fine
d.
A suspension of the football program
Q 22. Which company uses primum non nocere as its credo?
a.
ImClone
b.
ABC TV
c.
AIG
d.
Johnson & Johnson
Q 23. What legal issues emerged at Ashley Madison?
a.
The FTC began an investigation of the company
b.
A data breach resulted in a class action suit being filed
c.
All of the above
d.
It was sued for alienation of affection
Q 24. Goldman tried to avoid “toes-to-the-line” kinds of activities when it came to regulatory compliance.
a. True
b. False
Q 25. A quid pro quo relates to which category of ethical dilemma?
a.
Conflict of interest
b.
Personal decadence
c.
Hiding or divulging information
d.
False impressions
Q 26. Edward Snowden released classified documents that were stored at his employers’ archives. He works for a government agency. He released them because he felt U.S. citizens should know what kind of information their government was keeping about them. Which of the following is a correct statement?
a.
Snowden has taken something that did not belong to him.
b.
Snowden has done nothing wrong.
c.
Snowden is justified if the government was acting unfairly.
d.
Snowden follows the philosophical school of thought of the newspaper test.
Q 27. BP followed industry standards in its construction of Deepwater Horizon.
a. True
b. False
Q 28. “The lawyers have okayed this,” is a signal that the decision/action is legal and ethical.
a. True
b. False
Q 29. How did Fannie Mae discover the flaws in its computer model for amortization?
a.
Both a and b
b.
The OFHEAO report disclosed them
c.
Former employee Roger Barnes raised concerns
d.
None of the above
Q 30. There are no laws that cover cutting in line. However, those who do take cuts in line are viewed with disdain by others because:
a.
Normative standards govern this behavior.
b.
There are still criminal penalties for cutting in line.
c.
Case precedent prohibits it.
d.
The theory of rights covers the issue.
Q 31. The Graduate Management Admissions Council announced that it was canceling the GMAT scores of 84 applicants and students. The Council found that the students were active users of a now shut-down website, Scoretop.com, a site with origins in China that posted live questions from the GMAT. The site had 5,000 to 6,000 subscribers who paid $30 per month for access, but the Council is only canceling the scores of those against whom it feels it has an airtight case. Two of the students whose scores were canceled are currently enrolled at the University of Chicago’s MBA program and another has already graduated from Stanford’s MBA program. Twelve of the students whose scores were canceled had posted questions on Scoretop.com and the remaining 72 allowed the site to post their testimonials that they had seen the Scoretop.com questions on their GMAT. Ten of the 72 students had applied to Stanford but were denied admission. Which ethical category does the conduct of the students who posted live questions fit into?
a.
Interpersonal abuse
b.
Taking something that does not belong to you
c.
Organizational abuse
d.
Balancing ethical dilemmas
Q 32. Stakeholders in the issue of increasing the minimum wage include:
a.
Shareholders.
b.
Both a and b
c.
Customers.
d.
All employees.
e.
All of the above
Q 33. Plato and Aristotle were moral relativists.
a. True
b. False
Q 34. Self-interest is the same as selfishness.
a. True
b. False
Q 35. Rod Mohr was having trouble sleeping. His physician prescribed a CPAP machine. Rod’s insurance covers the machine for 30 days, with physician certification that the patient is using the machine every night and that the patient is seen every 30 days. After 30 days, Rod went to see his doctor and the doctor asked if he was using the machine. Rod said, “Well, I use it, but about half the time.” Rod’s physician says, “I am going to go ahead and certify that you are using it daily. But let’s do better this next month. I am not really fond of all this insurance intervention into how I treat my patients, and insurers have plenty of profits. So, I am just signing.” Which of the following best describes the physician’s decision?
a.
The physician framed the decision from his perspective as a doctor.
b.
The physician framed it as insurers being able to afford the coverage.
c.
The physicians framed it as helping out a patient.
d.
All of the above
Q 36. Carr believes that we make player’s decisions when providing information to a prospective employer.
a. True
b. False
Q 37. Adam Smith fits into which category?
a.
Divine Command
b.
Utilitarianism
c.
Categorical Imperative
d.
Ethical Egoism
Q 38. Which of the following issues did the events at the University of North Carolina illustrate?
a.
Violating the law
b.
Conflict of interest
c.
The slippery slope
d.
All of the above
Q 39. The CEO of Turing Pharmaceuticals is facing criminal charges for overpricing the company’s prescription drugs.
a. True
b. False
Q 40. If information posted on Yelp harms a business:
a.
Yelp is liable for the damage to the business.
b.
Yelp must arbitrate the content between the posting party and Yelp.
c.
Yelp is required to removed the information.
d.
Yelp is not responsible if the information is an opinion.
Test: Final (Units 4-6)
Q 1. How much of Andersen’s Enron revenues came from auditing fees?
a.
$52 million
b.
$27 million
c.
None of the above
d.
$25 million
Q2. A predatory loan:
a.
Can be affected by some state and local laws.
b.
None of the above
c.
Is any subprime loan.
d.
Is a loan that exceeds certain interest limitations or contains certain loan structures.
Q 3. Facebook advertising fees were determined based on:
a.
None of the above
b.
The number of hits per ad.
c.
The average viewing time for videos.
d.
The number of Facebook subscribers.
Q 4. How many off-the-book entities had Enron created?
a.
3000
b.
125
c.
1200
d.
452
Q 5. Who was acquitted of charges for their work at Tyco?
a.
Mark Belnick
b.
a and b
c.
All of the above were acquitted or released because of a mistrial
d.
Dennis Kozlowski
e.
Mark Swartz
Q 6. How much were Enron board members paid?
a.
$3,000,000 per year
b.
None of the above
c.
$25,000 per year
d.
They were not paid
Q 7. Alignment of compensation with company values is necessary to curb company-level ethical lapses.
a. True
b. False
Q 8. Whistleblowers have both internal and external avenues for dealing with issues.
a. True
b. False
Q 9. What was the total figure for WorldCom’s earnings restatement?
a.
$9 billion
b.
$4.3 billion
c.
$6.8 billion
d.
$3 billion
Q 10. What do the VA and Atlanta Public School System cases have in common?
a.
Both involved government entities
b.
Both involved employees trying to alert others to the problems
c.
All of the above
d.
Both involved evaluation and compensation based on numeric goals
Q 11. When is it legal under federal law to sell a product that tastes like apple juice but is not apple juice?
a.
When the company is not generally a seller of apple juice
b.
None of the above
c.
There is no such provision under federal law
d.
When the label discloses that the product is not real apple juice
Q 12. What error did Intel discover in its Pentium chip in July 1994?
a.
That the chip was contaminated
b.
That there was a floating point error that caused errors in division calculations
c.
None of the above
d.
That the chip could cause computer viruses
Q 13. Which parties claimed to be the owner of the convent in the Katy Perry case?
a.
All of the above
b.
Developer Dana Holister
c.
The diocese
d.
A small group of surviving nuns
Q 14. erome Kerviel, Joseph Jett, and Nick Leeson had what in common?
a.
They all bankrupted or nearly bankrupted their companies
b.
None of the above
c.
They all embezzled from their companies
d.
They all went to jail
Q 15. Who was the CFO of Enron?
a.
Ken Lay
b.
Andrew Fastow
c.
John Olson
d.
Jeffrey Skilling
Q 16. The failure to speak out when an ethical or legal lapse occurs within your firm is in itself an ethical violation.
a. True
b. False
Q 17. A company executive exerting pressure on a scientist and her university to delay disclosure of study results harmful to the company and its products would be unethical.
a. True
b. False
Q 18. GlaxoSmithKline paid bribes directly to government officials.
a. True
b. False
Q 19. GlaxoSmithKline had no managers involved in the criminal charges brought against the company for its Chinese operations.
a. True
b. False
Q 20. Who is Zeev Kaplansky?
a.
Beech-Nut’s head of chemistry
b.
None of the above
c.
Beech-Nut’s lawyer
d.
Employee of Universal
Q 21. Who said, “I wish on my kids’ lives I would have stepped up and walked away from the table that day”?
a.
Sherron Watkins
b.
Paula Reiker
c.
David Delainey
d.
Andrew Fastow
Q 22. In the Beech-Nut case, the executives at the time of the sales of adulterated apple juice:
a.
Took no steps to cover up the juice problem.
b.
Were charged with violations of criminal statutes.
c.
None of the above
d.
Cannot be held responsible unless they actually bought the adulterated product.
e.
Did not know that there was a problem with the apple juice.
Q 23. What job did Bernie Ebbers hold while he was in Canada?
a.
Junior high basketball coach
b.
Long distance operator
c.
None of the above
d.
Motel owner
Q 24. “The sage advice lost in the computer models” refers to:
a.
Maintaining a healthy skepticism about numbers performance.
b.
What happened at the Madoff firm.
c.
The Lehman risk models.
d.
The Enron off-the-book entities.
Q 25. FINOVA was a second-tier lender.
a. True
b. False
Q 26. What happened to Matthew Lee when he raised questions about Lehman’s risk level?
a.
The board responded and fired the company’s CEO
b.
Federal regulators arrived and closed down the investment bank
c.
Outside auditors began an investigation
d.
He was fired
Q 27. What is the correct rate of auto repossession on subprime auto loans?
a.
One in seven
b.
One in six
c.
One in nine
d.
One in five
Q 28. Sweatshops are not an issue of human rights.
a. True
b. False
Q 29. What happened to FINOVA’s share price when it announced a write-down of a loan and the retirement of Sam Eichefeld as CEO?
a.
The share price dropped $0.72
b.
None of the above
c.
The share price dropped but rebounded before the end of the day
d.
The share price dropped from $32 to $19.98 in one day
Q 30. Booking sales in advance of actual contracts is not a violation of accounting rules.
a. True
b. False
Q 31. A company can be relieved of its pension obligations in bankruptcy.
a. True
b. False
Q 32. Product dumping does not present ethical problems in those countries without product liability recovery systems.
a. True
b. False
Q 33. The failure to correct a known defect in a product is both an ethical lapse and a basis for a negligence claim.
a. True
b. False
Q 34. FIFA officials were not subject to U.S. laws and prosecution.
a. True
b. False
Q 35. Which of the following factors did HealthSouth, Fannie Mae, Massey Energy, Enron and WorldCom have in common?
a.
Obstruction of investigations
b.
They all had weak boards
c.
All of the above were a common thread
d.
Federal regulators had been on site at all the companies expressing concerns
Q 36. What was the basis for suits against Subway for their 12-inch claims about sandwiches that were only 11 inches long?
a.
There is no basis for litigation
b.
Consumer fraud
c.
Deceptive advertising
d.
Fraud
Q 37. The show Undercover Boss is an example of a method executives can use to obtain information about their companies, employees, and operations.
a. True
b. False
Q 38. Part of Subway’s defense on its 11-inch vs. 12-inch sub length is that bread rises differently.
a. True
b. False
Q 39. What conflict of interest arises with pension actuaries?
a.
They are compensated by the government regulatory agency for pensions
b.
They also work for the Pension Benefit Guarantee Corporation
c.
Employers often signal their concerns about a finding of pension underfunding
d.
They are usually working directly with the auditors
Q 40. The CEOs of the banks that suffered the subprime losses were iconic.
a. True
b. False
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