Chapter 2.10, Problem 1QFD

Consider again Milton Friedman’s article. 1. What does Friedman mean by “ethical custom”? 2. If the laws of the society are limiting the company’s profitability, would the company be within its rights to disobey the law? 3. What if the law is “on the books,” but the company could count on a lack of enforcement from state officials who were overworked and underpaid? Should the company limit its profits? Suppose that it could save money by discharging a pollutant into a nearby river, adversely affecting fish and, potentially, drinking water supplies for downstream municipalities. In polluting against laws that aren’t enforced, is it still acting “within the rules of the game”? What if almost all other companies in the industry were saving money by doing similar acts?

Business Ethics and Corporate Social Responsibility: Do businesses have a responsibility to society or to their shareholders?  Explain your answer.  Do these responsibilities conflict or work together? How do social and profit responsibility relate to CSR?

How does an accounting professional's commitment to the firm, the profession, and to colleagues influence whether he/she will blow the whistle on financial wrongdoing? What other factors, related to organizational culture, could contribute to whether or not a professional decides to blow the whistle on a financial wrongdoing?

1. How is hiring the “next generation” of Chinese elites different from practices here in North America. Is it the same as Clinton’s daughter securing a job at a hedge fund company? 2. What are some of the moral principles involves here and what are some of the consequences of this practice? How does any company stay competitive if others choose to conduct unethical business practices?

Companies have the moral obligation to conduct ethical operations. There are many cases where companies have different outcomes in their operations because of their interpretation of what ethics is. How can accounting ethics affect accounting operations and applications?

How do corporate governance ethics programs help avoid legal problems for corporations?

Identify and explain the major factors in the social environment that create an atmosphere in which business criticism takes place and prospers. Provide examples. How are the factors related to one another? Has the revolution of rising expectations run its course? Or is it still a reality among young people today?

Does the president of a firm have a right and obligation to use corporate profits for social programs? To whom do the profits belong? please include reference and use APA citation.

What is the importance of social and environmental issues for a company like Mc Donalds?