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Business Ethics

Chapter 3

Business EthicsChapter 3

Chapter 3

Assessment Questions

1.
D
2.
B
3.
Regardless of the company or brand selected, responses should include some of the following: customers, clients, employees, shareholders, communities, government, media, and possibly the environment and other abstract concepts that represent resources or concerns of many people.
4.
A
5.
C
6.
The normative approach is the fundamental basis of stakeholder theory and argues that stakeholders are ends unto themselves rather than means to an end. Thus, they have inherent value and cannot be looked at merely as instruments or as functional parts in an economic engine intended solely to generate profit for stockowners. That said, the instrumental and descriptive approaches also have their role in helping us to understand stakeholders and are mutually supportive of the normative approach.
7.
The high-power, high-interest quadrant is most important because it represents stakeholders who both are highly interested in their relationship with the firm and have a high level of power or influence in the relationship.
8.
C
9.
A
10.
The three components are people, profit, and planet.
11.
The California Act requires businesses that operate in California to describe for consumers all components and activities of their supply chains.
12.
A
13.
C
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