What does the Federal Sentencing Guidelines for Organizations (FSGO) focus on ? a. Penalties for companies convicted of restraint of trade charges. Encouraging ethical and legal compliance by reducing penalties for firms with effective compliance programs.
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|Principles are||specific and pervasive boundaries for behavior that are universal and absolute|
|What is a primary reason why some small businesses resist the opening of large chain retailers like Walmart or Home Depot ?||Because the large size creates economies of scale and they can charge lower prices|
The Dodd – Frank Act created four new federal agencies: the Consumer Financial Protection Bureau (CFPB), the Office of Financial Research (OFR), the Federal Insurance Office (FIO), and the Financial Stability Oversight Council (FSOC).
What business ethics issue was a major concern during the 1920s ? Many consumers are willing to pay more money for socially responsible products. Ralph Nader’s book Unsafe at Any Speed helped spur the stakeholder theory movement. Morals are enduring beliefs and ideals that are socially enforced.
On May 1, 1991, as an extension of the Sentencing Reform Act, the United States Sentencing Commission submitted to Congress the Federal Sentencing Guidelines for Organizations] ( FSGO ), a set of standards that govern the sentences federal judges impose on organizations convicted of federal crimes.
Carroll’s global corporate social responsibility pyramid encompasses, from bottom to top, four responsibilities : economic, legal, ethical, and philanthropic.
What is true of organizations that exhibit a high ethical culture ? They encourage employees to adhere to business values. Explanation: Organizations that exhibit a high ethical culture encourage employees to act with integrity and adhere to business values.
Why are many international business ethics issues different from domestic ethical issues ? Because of differences in economic development, politics, legal system, and culture.
Procompetitive legislation – Laws that have been passed to prevent the establishment of monopolies, inequitable pricing practices, and other practices that reduce or restrict competition among businesses. They also make regular surprise inspections to ensure businesses maintain safe working environments.
Why is it important for businesses to recognize secondary stakeholder groups ? They have legitimacy and can exert power. primary. an organization’s obligation to maximize its positive effects and minimize its negative effects on stakeholders .
Measure and disclose financial information , with an assurance of accuracy, to the public. They provide information to managers , investors , tax authorities, and other stakeholders who make resource allocation decisions for corporations . Accountants have their own set of rules.
The Dodd – Frank Act . The law states that a U.S. bank may take its depositors’ funds (i.e. your checking, savings, CD’s, IRA & 401(k) accounts) and use those funds when necessary to keep itself, the bank , afloat. The bank is no longer bankrupt.
The Dodd – Frank Act is a comprehensive and complex bill that contains hundreds of pages and includes 16 major areas of reform. Simply put, the law places strict regulations on lenders and banks in an effort to protect consumers and prevent another all-out economic recession.
An Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes .