Solution Manual for Foundations of Business 4th Edition by starucarulrap.ml Donna Kelly. FOR MORE OF THIS COURSE AND ANY OTHER COURSES, TEST BANKS. Editorial Reviews. About the Author. William Pride (Ph.D., Louisiana State University) is a Foundations of Business 4th Edition, Kindle Edition. by William M. FOUNDATIONS OF BUSINESS, 4E gives students the comprehensive preparation they'll need to succeed in today's competitive business world. This exciting.
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English Choose a language for shopping. Enabled Word Wise: Affirmative action programs have been plagued by two problems. In the beginning, many firms pledged to recruit and hire a certain number of minority members by a specific date.
To achieve this goal, they were forced to consider only minority applicants for job openings. Congress created and later strengthened the Equal Employment Opportunity Commission EEOC , a government agency with the power to investigate com- plaints of employment discrimination and sue firms that practice it.
Training Programs for the Hard-Core Unemployed. Some firms have assumed the task of helping the hard-core unemployed: Such workers require training; this train- ing can be expensive and time consuming.
Pollution is the contamination of water, air, or land through the actions of people in an industrialized society. For several decades, environmentalists have been warning us about the dangers of industrial pollution. Today, Americans expect business and government leaders to take swift action to clean up our environment—and to keep it clean.
Effects of Environmental Legislation. As in other areas of concern to our society, leg- islation and regulations play a crucial role in pollution control. The Environmental Pro- tection Agency EPA is the federal agency charged with enforcing laws designed to protect the environment. See Table Some business owners and managers take the position that environmental standards are too strict. Consequently, it has often been necessary for the EPA to take legal action to force firms to install antipollution equipment and clean up waste storage areas.
Expe- rience has shown that the combination of environmental legislation, voluntary compli- ance, and EPA action can succeed in cleaning up the environment and keeping it clean. Water Pollution. The Clean Water Act has been credited with greatly improving the condition of waters in the United States. However, the task of water cleanup has proved to be extremely complicated and costly due to pollution runoff and tox- ic contamination.
Improved water quality is not only necessary, but it is also achievable. Today, acid rain, which results from sulfur emitted by smokestacks in industrialized areas, is destroying many lakes and reservoirs. Air Pollution. Aviation emissions are a potentially significant and growing per- centage of greenhouse gases that contribute to global warming. Air pollution con- trol efforts are encouraging.
The EPA estimates that the Clean Air Act eventually will result in the removal of 56 billion pounds of pollution from the air each year, thus measurably reducing lung disease, cancer, and other serious health problems. Land Pollution. Today, land pollution is a serious problem. Noise Pollution. The Noise Control Act of established noise emission stand- ards for aircraft and airports, railroads, and interstate motor carriers.
Noise levels can be reduced by two methods. Chapter 2 Being Ethical and Socially Responsible 53 At Issue The United States has been at the forefront in negotiating opportunities and expanding rights for minorities. Recently, much attention has been given to the rights of religious minorities. Undue hardship can be claimed if the accommodation interferes with legitimate business interests. According to the EEOC: How should employers deal with proselytizing?
For Proselytizing Against Proselytizing 1. Existing law allows for undue hardship commodation. Employees have certain rights to ex- 2. If proselytizing is kept to a mini- 3. Government and business are spending billions of dollars annually to reduce pollution. Much of the money required to purify the environment is supposed to come from already depressed industries. The big question is: Bring in three to five products from home. Write down the approximate prices.
The firm must then develop and implement a tangible program to reach this goal. Developing a Program of Social Responsibility. The following steps are required to implement a social responsibility program. Commitment of Top Executives. Without the support of top executives, any pro- gram will soon falter and become ineffective.
A committee of managers should be appointed to plan the program. Appointment of a Director. The Social Audit. The director of the program should prepare a social audit for the firm at specified intervals. A social audit is a comprehensive report of what an or- ganization has done, and is doing, with regard to social issues that affect it.
Funding the Program. Like any other program, a program to improve social responsi- bility must be funded. Funding can come from three sources. Management can pass the cost on to consumers in the form of higher prices.
The corporation may be forced to absorb the cost of the program if, for example, the competitive situation does not permit a price increase. The federal government may pay for all or part of the cost through special tax re- ductions or other incentives.
Chapter 2 Being Ethical and Socially Responsible 55 2. What is meant by business ethics? What are the different types of ethical concerns that may arise in the business world? Ethical issues arise over fairness and honesty, organizational relationships, conflicts of interest, and communications.
Explain and give an example of how advertising can present ethical questions. False and misleading advertising is illegal and unethical, and it can infuriate customers. Sponsors of advertisements aimed at children must be especially careful to avoid misleading messages. Advertisers of health-related products also must take precautions to guard against deception when using such descriptive terms as low fat, fat free, and light.
Concept Check p. Describe several individual factors that influence the level of ethical behavior in an organ- ization. Individual knowledge of an issue, personal values, and personal goals.
Explain several social factors that affect ethics in an organization. Cultural norms, co-workers, significant others, and use of the Internet.
Opportunity refers to the amount of freedom an organization gives an employee to behave unethically if he or she makes that choice. In some organizations, certain company policies and procedures reduce the opportunity to be unethical.
How can the government encourage the ethical behavior of organizations? The government can encourage ethical behavior by legislating more stringent regulations. For example, the landmark Sarbanes-Oxley Act of provides sweeping new legal protection for those who report corporate misconduct. Trade associations can and often do provide ethical guidelines for their members. These organizations, which operate within particular industries, are in an excellent position to exert pressure on members who stoop to questionable business practices.
What is whistle-blowing? Who protects the whistle-blowers? The Sarbanes-Oxley Act of protects whistle-blowers who report corporate misconduct.
What is social responsibility? How can business be socially responsible? The text provides several examples of ways in which businesses are being socially responsible. The examples provided are just a few of the many companies that strive to behave in socially responsible ways. Outline the historical evolution of business social responsibility. Government protection of workers and consumers was minimal. Soon after Franklin D. Roosevelt became president in , he instituted programs to restore the economy and improve social conditions.
The government passed laws to correct what many viewed as the monopolistic abuses of big business and provided various social services for individuals. These massive federal programs became the foundation for increased government involvement in the dealings between business and society. What is the doctrine of caveat emptor? What are the six important business-related federal laws passed between and ? These six laws are as follows: Explain the two views on the social responsibility of business.
The socioeconomic model of social responsibility places emphasis not only on profits but also on the impact of business decisions on society. What are the arguments for increased social responsibility? What are the arguments against increased social responsibility? Describe the six basic rights of consumers.
The products consumers download must be safe for their intended use, include thorough and explicit directions for proper use, and have been tested by the manufacturer to ensure product quality and reliability. Consumer safety would be an especially important consideration in the manufacture and sale of a product such as a hedge trimmer.
Consumers should be given complete information about a product, such as ingredients in food or how to take care of a specific garment. Producers should also give information about the potential dangers of using their products, such as a reaction to drugs. Citizens can complain through the Better Business Bureau or can often call a company directly on a toll-free number.
People are entitled to be fully informed about their rights as consumers. An example would be the disclosure notices provided by banks or credit card companies. Consumers have the right to convenience, courtesy, and responsiveness from manufacturers and sellers of consumer products, which is one of the reasons that companies put numbers on their products for customers to contact them.
What are the major forces in consumerism today? The major forces in consumerism are individual consumer advocates and organizations, consumer education programs, and consumer laws.
What are some of the federal laws enacted in the last 50 years to protect your rights as a consumer? See Table in the text. What is an affirmative action program? What is its purpose? An affirmative action program is a plan to increase the number of minority employees at all levels within an organization. The objective of such a program is to ensure that minorities are represented within the organization in approximately the same proportion as in the surrounding community.
The Equal Employment Opportunity Commission EEOC was created by Congress to investigate complaints of discrimination and to sue firms that practice discrimination in employment. Describe the major types of pollution. What are their causes and their cures? Businesses contribute to water pollution by dumping wastes into the water; to air pollution by admitting hazardous chemicals into the air; to land pollution by burying harmful wastes and chemicals; and to noise pollution by allowing excessive noise caused by traffic, aircraft, and machinery.
Water pollution can be reduced by building larger and more efficient sewage treatment plants and removing sulfur emissions, a cause of acid rain. Pollution control devices on vehicles and smokestacks help reduce air pollution. The EPA has been working to clean up the land. Suits against companies that dump wastes could help fund the cleanup operation.
Noise levels can be reduced by isolating the source of noise away from the population and by modifying machinery and equipment to reduce noise levels. Summarize major provisions of federal environmental laws enacted since Who should pay for a clean environment? Many business leaders offer one answer—tax money should be used to clean up the environment and to keep it clean. They reason that business is not the only source of pollution, so business should not be forced to absorb the entire cost of the cleanup.
Environmentalists disagree. They believe that the cost of proper treatment and disposal of industrial wastes is an expense of doing business. In either case, consumers probably will pay a large part of the cost—either as taxes or in the form of higher prices for goods and services. What steps must a business take to implement a program of social responsibility? The steps are as follows: Top executives should develop a policy statement that outlines key areas of concern.
Managers should form a plan that deals with each of the issues described in the policy statement. The social audit is a comprehensive report of what an organization has done, and is doing, with regard to social issues that affect it. What is the social audit? Who should prepare a social audit for the firm? A social audit is a comprehensive report of what an organization has done and is doing with regard to social issues that affect it.
This document provides the information the firm needs to evaluate and revise its social responsibility program. What are the three sources of funding for a social responsibility program? In this case, the cost is treated as a business expense, and profit is reduced. The federal government may pay for all or part of the cost through tax reductions or other incentives.
When a company acts in an ethically questionable manner, what types of problems are caused for the organization and its customers? Customers lose trust in this type of organization and sometimes seek other sellers. How can an employee take an ethical stand regarding a business decision when his or her superior already has taken a different position?
You may want to discuss the repercussions of whistle-blowing. Overall, would it be more profitable for a business to follow the economic model or the socioeconomic model of social responsibility? In the short run, the economic model would be more profitable because the focus is on profits, not on social responsibility.
The socioeconomic model would be more profitable in the long run.
It is a proactive stance for companies and one that many firms are embracing. Consumers have come to expect this of companies with which they do business. Money spent on acts of social responsibility would be considered business expenses. Why should business take on the task of training the hard-core unemployed?
This task is another aspect of social responsibility. When these people receive training, they become more employable. Overall, such training programs improve the economy, which in turn helps the firms that sponsor the programs. To what extent should the blame for vehicular air pollution be shared by manufacturers, consumers, and government?
Consumers should download and use products that limit air pollution. The government should set guidelines for the production and use of such products. Why is there so much government regulation involving social responsibility issues? Should there be less? There is so much government regulation because unethical businesses continue to ignore their social responsibility.
There should not be less government regulation until businesses are ready to police themselves. PortionPac is family-owned. Thanks to its private ownership, PortionPac is free from the pressures that public corporations face in explaining their management decisions and financial results to stakeholders such as shareholders and securities analysts. If you were appointed to conduct a social audit of PortionPac, what type of information would you collect?
What questions would you ask? Explain your answer. Some possible questions include: What are the potential short- and long-term environmental effects of our products? What are we doing to educate employees and customers about how to use our products safely? Are our policies and practices promoting ethical decisions on the part of our workforce and our suppliers?
What procedures are employees expected to follow if they need to report suspected violations of our ethical standards, and how are such reports investigated? Why or why not?
Students who agree that business ethics is a matter of common sense may argue that ethical behavior should be the cultural norm in every business, organization, and industry. Businesspeople want to be treated fairly so they must act ethically in business situations. Chapter 2 Being Ethical and Socially Responsible 61 actions. These students may point out that individual factors also play a role in what businesspeople consider to be common sense.
Social Media Exercise In , Pepsi decided to develop a new social media—based project, called Pepsi Refresh Project, aimed at Millennials and allowing consumers to post ideas for improving their communities.
The project received more than 57 million votes. Visit the website at http: Do you think this was an effective strategy for Pepsi? Do you think this resonated with the Millennial generation? Although the project was a success on the social media side, that success did not translate into sales. Pepsi lost market share, possibly because the money designated for advertising was put into this social media campaign.
Do you think this is a good example of corporate social responsibility CSR? Money was given to the projects that received the most votes. See http: Its commitment to sustainability is also stated in several places on the website. Building Team Skills Assign several students the responsibility of finding a code of ethics from a business firm.
Before class, prepare copies for everyone in the class. In class, have each group work with a different code of ethics in completing the exercise. Ask a member of each group to report the results before the class. Researching Different Careers Who is to say what is right and what is wrong?
How will the student treat others? How does the student expect to be treated by others? T F Social responsibility is the recognition that business activities have an impact on society and the consideration of that impact in business decisions.
T F The economic model of social responsibility places emphasis not only on profits but al- so on the impact of business decisions on society. T F Consumerism consists of all those activities that are undertaken to protect the rights of consumers in their dealings with business.
T F Six basic rights of consumers are the right to safety, the right to be informed, the right to choose, the right to be heard, the right to consumer education, and the right to service. T F Whistle-blowing is an attempt by business to stop employees from exposing their uneth- ical business behavior. Multiple-Choice Questions Circle the letter before the most accurate answer.
A plan designed to increase the number of minority employees at all levels within an organiza- tion is called a. Initiating a social responsibility program takes a. Chapter 2 Being Ethical and Socially Responsible 63 9. Funding for a program of social responsibility can come from a. A guide to acceptable and ethical behavior is known as a.
T F A policy of considering only nonminority applicants for job openings is called reverse discrimination. T F Today, few firms are either purely economic or purely socioeconomic in their outlook.
T F Working conditions in the early twentieth century were not much different from those that exist today, except for the more advanced technology involved.
T F Government intervention into business increased after the Great Depression of the s. A group of people who have been singled out for unfavorable treatment on the basis of race, religion, politics, or national origin is called a.
Pollution in our country is made up of a. A government agency with the power to investigate complaints of discrimination and to sue firms that practice discrimination is the a. National Alliance of Business.
Equal Employment Opportunity Commission. Federal Trade Commission. Interstate Commerce Commission. Chapter 2 Being Ethical and Socially Responsible 65 2. Have students bring in an article that shows an example of a company or executive that has oper- ated in a particularly ethical or socially responsible way or a particularly unethical way.
Ask students to use the Internet to research several actual corporate codes of conduct and make a list of similarities and differences. This can be followed up with an in-class group activity where students compare their research and determine what common themes and ideas are likely to be reflected in most corporate codes of ethics. Have students choose a corporation with whose products they are familiar. Nike and Coca-Cola might be examples. The homework assignment is to write a one-page paper prioritizing constitu- encies to whom they have social responsibility.
A typical progression might include stockhold- ers, employees, the city of Atlanta for Coca-Cola , etc. The objec- tive is to help students identify ethical issues and understand the importance of codes of ethics. This is best done as an individual exercise, although it would be useful to follow with a group dis- cussion afterward.
Instructor notes follow the exercise. This exercise can be used in a number of places in this chapter; however, it relates best to Learn- ing Objectives 3 and 4. Instruct students to form groups of three or four. They will need approximately 20 minutes to develop an Internet usage policy for Pupster Dog Fashions, a fictional company.
Upon comple- tion, each group should share their usage policy with the class. If desire and time permit, you may instruct them to go to the Web and benchmark similar poli- cies for other companies. One example you will find on the Web includes advice from Microsoft about planning Web access policy http: This exercise may also be used as a homework project if desired.
A sample policy for Pupster is provided. Have students form groups of three to five. Using the Puffery quiz as a handout, ask them to evaluate the advertising statements on the quiz as to whether a they are puffery or a real claim and b whether or not they are deceptive.
This exercise helps reinforce the consumer right of be- ing informed. The handout gives the student the information they need to make their judgments.
Puffery is sometimes a matter of opinion rather than firm law, so this exercise should stimulate significant discussion. Once they have the handouts, the exercise should take approximately 10 to 15 minutes. Sample answers are provided.
This exercise can be done totally as an in-class activity or assigned as homework. The students are asked to think about sustainability and how it fits into their individual lives. The information on the provided link can be given to students ahead of time. As they review the list, they may be surprised at how many of these practices they already follow.
If desired, the list could also form the basis for journal activity throughout the semester. If done entirely in class, the activity should take approximately 20 minutes prior to discussion. Your company is about to release a very large shipment of products. As manager, you must choose among several transportation companies that are competing for your business. Sales representatives from railroad and trucking companies often make calls to your office.
Your decision will mean the loss or gain of mil- lions of dollars of revenue for these companies. Which of the following gifts would you be willing to accept from sales repre- sentatives of the transportation companies? What role would top management, superiors, and peers play in your deci- sion on accepting these gifts?
If you had the chance to take some of the gifts on the list without anyone knowing, would you? Would a code of ethics or an ethical corporate culture help you in making your decision? Question 2. You might ask students if they know of instances in their own jobs where organization- al relationships have had a negative or positive effect on ethical decision making.