* Cofix coffee shops to number 120 in 2015 * Company expanding into low-cost mini-supermarkets * CEO wants to expand to London, Moscow eventually PETACH TIKVA, Israel, July 2 (Reuters) - With a $1 cup of coffee, Avi Katz is starting to do something Israelis have been demanding for years and politicians have failed to achieve -- lower the cost of living. In 2011, hundreds of thousands of Israelis took to the streets to protest against the
high cost of essentials such as food and housing. That led to promises ahead of the 2013 election to cut prices, but progress has been slow, even if the government is now allowing more imports to spur competition. Israeli food prices rose 39 percent more than the consumer price index between 2003-2014, according to the central bank. “You brought new people into the Knesset (parliament) and people think they will change the country,” said Katz. “But the new government was a
disappointment and then came Cofix.” In late 2013, Katz launched Cofix, an increasingly popular coffee and snack chain modelled on dollar stores in the United States that has grown to 80 outlets across Israel, mainly on busy streets in urban centres. The concept is simple: coffee and snacks such as sandwiches and quiche for five shekels ($1.30) each. Until Cofix came along, Israeli coffee shops routinely charged $3-$4 for a coffee and $5-$10 for a sandwich. “Everyone knew you
can buy coffee for five shekels. When you buy in large quantities, it’s cheap,” said Katz, who heads private investment fund Hagshama. Still, he wasn’t sure the concept would work as it needed each store to sell at least 1,000 items a day to break even. Katz said Cofix stores, which only provide take-away goods, sell around 2,000 a day, with customers buying on average two items each. Such instant success led to copy-cat shops, while more established chains were forced to slash
prices. “It’s impossible to have a good idea without competition,” Katz told Reuters, saying the group would expand to 120 outlets this year. In mid-June, Cofix went public by buying shell company Agri Invest and merging its operations into it. Revenue in 2015 is expected to near 200 million shekels. Katz said the company would have made a profit last year if it hadn’t been for investment in a new low-cost supermarket concept. Still, its shares have shed 7 percent since going
public, suggesting some investors remain to be convinced, though the stock has risen 15 percent in the past two sessions. In recent months, Katz has expanded into the supermarket business with Super Cofix, a mini-market that sells items for no more than 5 shekels. He plans three more stores this year. Katz hopes to expand his low-cost coffee shops to London and Moscow but nothing is imminent. A copycat coffee shop, Caffix, recently opened in London where items sell for 1 pound
($1.56). $1 = 0.6404 pounds Editing by Mark Potter for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up Individual differences in relation to a generalized belief about how one is affected by internal versus external events or reinforcements is known as Which of the following is NOT a component of immediate job context that may relate to opportunity for misconduct in the workplace? a. Bribes ANSWER: A Elena, an employee at ABC Marketing, has observed misconduct at work and wonders if she should report it. In the end she decides not to do so because of the possible repercussions at work. Which of the following has determined the Elena's action? Which statement best describes ethical issue intensity? a. The perceived value of an ethical issue to the society. ANSWER: D Which of the following statements best describes an opportunity? a. A reflection of whether the firm has an ethical conscience. b. How easy
it is to pilfer office supplies from one's workplace. c. Organizational factors. d. The conditions in an organization that limit or permit ethical or unethical behavior. e. A Corporate culture. Which of the following is not one of the six "spheres of influence" individuals are subjected to when confronted with an ethical choice? a. Family b. Friends c. Legal system d. Competitors e. Workplace ANSWER: D Ethical ______ is the ability to perceive whether a situation or decision has an ethical dimension. According to researchers, normative values largely originate from all of the following EXCEPT: A corporate culture can be defined as A set of values, beliefs, goals, norms, and ways to solve problems that employees of an organization share Which of the following is NOT a factor in the ethical decision-making model? a. Ethical issue
intensity ANSWER: B What is the first sign that you may have made an unethical decision? The relevance or importance of an ethical issue in the eyes of the individual, work group, and/or organization is known as: ____ involves the conditions for encouraging or limiting ethical behavior in an organization through rewards for ethical behavior or failing to prohibit unethical behavior. The opportunities that employees have for unethical behavior in an organization can be nearly eliminated through formal codes, policies, and rules that are adequately enforced by management. Applying a personal moral philosophy is the first step in the ethical decision-making process. What group believe that only one thing is intrinsically good? _____ is right or acceptable behavior in terms of the consequences for the individual. Which of the following "crime of the suite" does more damage in monetary and emotional loss in one year than the crimes of the street over several years combined? a. Sexual harassment b. Racketeering c. Mail fraud d. White-collar crime e. Filing false claims ANSWER: D What type of justice exists if employees are being open, honest, and truthful in their communications at work? ___ assumes that humankind is not naturally benevolent and kind, but is inherently self-centered and competitive. If you believe that intentions are more important than outcomes, you ascribe to the moral philosophy of John, vice president of operations at We Care, Inc., approves the illegal disposal of toxic waste at his firm's international factory. John has committed ________ is the final stage of cognitive moral development, according to Lawrence Kohlberg. The stage of universal ethical principles Which of the following is an incorrect statement? a. Egoism defines right or acceptable behavior in terms of the consequences for the individual. b. Justice evaluates ethicalness on the basis of fairness: be it distributive, procedural, or interactional. c. Deontology focuses on the preservation of individual rights and on the intentions associated with a particular behavior rather than on its consequences. d. Utilitarianism defines right or acceptable actions as those that maximize total utility, or the greatest good for the most powerful few people. e. Relativism evaluates ethicalness subjectively on the basis of individual and group experiences. ANSWER: D Teleology is a philosophy that states that an act is morally right or acceptable if it produces a desired result The types of moral philosophy discussed in the text include a. teleology, utility, relativist perspective, virtue ethics, and justice. b. teleology, utility, relativist perspective, virtue ethics, and deontology. c. teleology, self-interest, relativist perspective, virtue ethics, and justice. d. teleology, deontology, relativist perspective, virtue ethics, and justice. e. teleology, self-interest, relativist perspective, virtue ethics, and career growth. ANSWER: D According to Kohlberg's model of cognitive moral development, different individuals make different decisions in similar ethical situations because they are in different stages of cognitive moral development. Which of the following is a correct statement? a. A moral virtue represents an acquired disposition that is valued as a part of an individual's character. b. Distributive justice is based on the processes and activities that produce the best outcome or results. c. Procedural justice is based on an evaluation of the communication process used in the business relationship. d. Interactional justice is based on the evaluation of outcomes or results of the business relationship. e. According to the relativist perspective, definitions of ethical behavior are derived objectively. ANSWER: A A moral philosophy is a general set of values by which different people live. The concept of a moral philosophy is inexact. For that reason, moral philosophies must be assessed on a continuum rather than as static entities. Because of the recent global financial meltdown, many stakeholders began to question the basic assumptions of _____, as well as how government institutions provide oversight and regulation. Less than half of the respondents of a recent survey reported having an overall trust in business. Which of the following industries has the lowest rating after the most recent financial meltdown? The Consumers' Bill of Rights decreed by President John F. Kennedy specified all of the following EXCEPT the right to Before anything else, businesses must _____ to survive. An organization that has a strong ethical environment usually has a core value of placing _____ interests first. An organization's obligation to maximize its positive impact on stakeholders and to minimize its negative impact refers to its: It is generally accepted that _____ and maintaining long-term relationships are some of the most important factors in a successful business strategy. Which of these argued that it is impossible to eradicate all wrongdoing in a large corporation, and that the best one can hope is that the wrongdoing is minor and caught in time? Many studies have found a positive relationship between which of the following? An ethical culture and good business performance. Business ethics was institutionalized through the Federal Sentencing Guidelines for Organizations during which of the following periods? The _____ is a set of 10 principles concerning human rights, labor, the environment, and anti-corruption. This document seeks to create openness and alignment among business, government, society, labor, and the United Nations. Which of the following is a highly admired company for its high ethical standards? According to the text, business ethics comprises organizational principles, values, and __________ that may originate from individuals, organizational statements, or from the legal system. The ethical component of a corporate culture relates to the values, beliefs, and established and enforced patterns of conduct that employees use to identify and respond to ethical issues. The Sarbanes-Oxley Act made it illegal for U.S. businesses to issue bribes to foreign government officials. Corporate governance is defined as Formal systems of accountability, oversight, and control. Which of the following is NOT a secondary stakeholder group? a. Television news reporters b. Employees c. Trade associations d. Special interest groups e. Magazines ANSWER: B According to Adam Smith's version of capitalism, the values each individual must have to produce for the common good are propriety, prudence, reason, __________ and promoting the happiness of mankind. Utilizing a(n) _____ allows an organization to identify, monitor, and respond to the needs, values, and expectations of different stakeholder groups. Groups that influence and/or are affected by a company and that neither engage in economic exchanges with the firm nor are fundamental to its daily survival are collectively called The four levels of social responsibility are economic, legal, ethical, and philanthropic. Which of the following is NOT a primary stakeholder group? a. Employees b. Customers c. Investors d. The Media e. Shareholders ANSWER: D __ are groups or individuals who have a claim in some aspect of a company's products, operations, markets, industry, and outcomes. ______ provides a system of checks and balances that limit employees' and mangers' opportunities to deviate from policies and strategies aimed at preventing unethical and illegal activities. Which approach to stakeholder theory focuses on the actual behavior of the firm and usually addresses how decisions and strategies are made for stakeholder relationships. The two-way relationship between a firm and its stakeholders is conceptualized by the: stakeholder interaction model Which of the following statements is correct? a. Primary stakeholders do not typically engage in transactions with a company. b. Social responsibility is associated with decreased profits. c. The degree to which a firm understands and addresses stakeholder demands can be referred to as a stakeholder orientation. d. Secondary stakeholders are essential for a company's survival. e. Ethical issues are usually easy to detect and simple to fix. ANSWER: C Which of these represent the second step in stakeholder framework to manage responsibility and business ethics? Identifying stakeholder groups Fortunately, social responsibility and ethics are completely interchangeable terms. Steps 1 through 3 in stakeholder framework are geared toward generating information about social responsibility among a variety of influences in and around an organization. Step 4 brings these three stages together to arrive at an understanding of social responsibility that specifically matches the organization of interest. Which of the following statements is true? Insider trading can be legal or illegal. The practice of offering something in order to gain an illicit advantage is Optimization is the tradeoff between equity and: Which of the following involve efforts to recruit, hire, train, and promote qualified individuals from groups that have been discriminated against into employment positions? Affirmative action programs Which of the following is NOT a problematic line of reasoning people use in business that can lead to problems with honesty? Business relationships require the highest level of transparency and open communication. A(n) _____ exists when an individual must choose whether to advance his or her own interests, those of the organization, or those of some other group. ____ involve efforts to recruit, hire, train, and promote qualified individuals from groups that have traditionally been discriminated against on the basis of race, gender, or other characteristics. Affirmative action programs __ is exaggerated advertising, blustering, and boasting upon which no reasonable buyer would rely. Which of the following is NOT one of the top types of observed misconduct? Working more hours than reported A problem, situation, or opportunity requiring an individual, group, or organization to choose among several actions that must be evaluated as right or wrong is called a(n): Which of the following is NOT a common ethical issue in organizations? a. Misuse of company resources b. Abusive behavior c. Fair healthcare packages for employees d. Lying to employees e. Internet or email abuse All of the following generate discussion about the ethical nature of a decision EXCEPT: a. the mass media. b. special interest groups. c. blogs and podcasts. d. government agency. e. individuals in the business. ___ is one of the most important and oft-cited elements of virtue, and refers to being whole, sound, and in an unimpaired condition. In a dilemma all of the alternatives have negative consequences, so the less harmful choice is made. Active bribery is an offense committed by the official who receives the bribe. The most vulnerable segment of demography when it comes to financial scams are: The Sarbanes-Oxley Act was passed to provide oversight of corporate accounting practices. Which of the following is true of the Sherman Antitrust Act? It prohibits organizations from holding monopolies in their industries. __ impose(s) fines or imprisonment as punishment for breaking the law. All of the following are elements of an ethical culture EXCEPT: a. Governance ANSWER: E ___ ties an organization's products directly to a social concern through a marketing program. The Children's Online Privacy Protection Act (COPPA) promotes which of the following? Which of the following is derived from precedents established by judges? Which dimension of social responsibility refers to business's contributions to society? Voluntary responsibilities Accountants, lawyers, financial rating agencies, financial reporting services and risk assessors of financial products are all examples of _____, who must trust and be trusted by stakeholders to make business work. Which of the following statements is true of the Occupational Safety and Health Act? It mandates that employers provide safe and healthy working conditions. What does the Federal Sentencing Guidelines for Organizations (FSGO) focus on? Encouraging ethical and legal compliance by reducing penalties for firms with effective compliance programs Which of the following is an office, created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, which is charged with creating a better system for analyzing the financial industry? The Office of Financial Research Congress passed the FSGO in 1991 to create an incentive for organizations to develop and implement programs designed to foster ethical and legal compliance. These guidelines, developed by the U.S. Sentencing Commission, apply to all felonies and class A misdemeanors committed by employees in association with their work. The focus of core practices is on developing an individual's morals, rather than on structurally sound organizational practices and integrity for financial and non-financial performance measures. Which of the following is an example of poor ethics? a. Raising prices to meet costs. b. Opening a high quality store that offers very expensive merchandise. c. Pressing distributors to take unwanted inventory.
d. Showing your competitor's product in your advertisement. e. Offering lower quality products to meet a customer's price range. George feels uncomfortable every time he sees his supervisor sexually harass women employees. George is experiencing: an ethical issue in an employee area The Philip Morris Corporation launched a marketing campaign aimed at reducing smoking by youths. Management anticipated this campaign would help enhance the company's image as a good corporate citizen. What could be the moral philosophy used in this business decision? Bob, a company owner, offers a $200,000 bribe to an auditor to hide the company's financial loss in order to keep his shareholders' trust and avoid laying off hundreds of employees. What could be the moral philosophy used in his decision? Which is not true about social responsibilities? a. When employees of a retail store serve as tutors and mentors for students and teach them about the jobs at their store, this would be considered social responsibility. b. Social responsibility in helping out local causes can often help that company in the areas of improved customer relations, increased employee loyalty, marketplace success, and improved financial performance. c. There are four dimensions of social responsibility: legal, ethical, economic and philanthropic. d. Social responsibility comprises principles and standards that guide behavior in the world of business. ANSWER: D France has developed a strict law for when and where wine can be advertised in response to a growing problem with alcoholism in the nation. Company B is a leading wine producer in France. It obeys this law by advertising its products only in some exclusive magazines to target a specific age group of customers. This company's decision is involved with: The stage of punishment and obedience Kathy works as a secretary in a chemicals company. She feels uncomfortable when Bob, her manager, wants her to carry out an assignment that she believes is wrong. However, Kathy chooses to follow Bob's order because of his authority. Bob is exercising: Jessica has been with Safeway for 12 years. She is responsible for all bidding and awarding of contracts to suppliers. She was the first person who found Firm A's misbehavior. What should Jessica's response be to support her company's moral agent role? Suggest her supervisor to terminate the contract with Firm A Christmas and New Year holidays are high seasons for traveling. Many airlines take advantage from the over demand by increasing their ticket prices. This practice is called ______ Disney's popcorn-people program is a four-day training program that is aimed to prepare personnel who clean their theme park to be information guides. These people, who are the first to be asked where something is located, are trained to treat customers as guests. The program also helps initiate the work environment of employee participation which will help increase: In the Reagan/Bush eras, the major focus of the business world was on Self-Regulation rather than regulation by government specific and pervasive boundaries for behavior what are universal and absolute Which of the following is not one of the rights spelled out by John F. Kennedy in his "Consumers' Bill of Rights"? a. The right to choose b. The right to safety c. The right to be informed d. The right to be ethical e. The right to be heard ANSWER: d Which of the following statements is true about business ethics? A) firm that has ethical management will succeed financially. B) Codes of ethics should cover every business ethics issue. C)Business ethics focuses more on laws over values. D) Individuals apply the same ethical rules in business as they do at home. E)There is no conflict between profits and business ethics. ANSWER: E Because of Sarbanes-Oxley, publicly traded companies must develop _____ to assist in maintaining transparency in financial reporting. The idea that the mission of business is to produce goods and services at a profit, thus maximizing its contribution to society is associated with The originator of the idea of the invisible hand, which is a fundamental concept in free market capitalism, was An employee sorts through a competing business's trash to see if there are any documents that could reveal secret information. This is a misuse of ___ is defined as any purposeful communication that deceives, manipulates, or conceals facts in order to create a false impression When a restaurant claims that it sells the world's best cup of coffee, it could be accused of _____ is associated with a hostile workplace where someone considered a target is threatened, harassed, belittled, or verbally abused. Developing ethical issue awareness is the first step toward understanding business ethics Which of the following is not an aspect of the institutionalization of social responsibility? a. Voluntary practices b. Legal responsibilities c. Core practices d. Familial responsibilities e. Strategic philanthropy ANSWER: D Which of the following acts, passed in response to public outrage over conditions described in Upton Sinclair's The Jungle, was the first consumer protection legislation? Pure Food and Drug Act of 1906 The ________________ desires to find a solution to a social problem rather than to simply earn profits. The primary objective of U.S. antitrust laws is to distinguish competitive strategies that enhance consumer welfare from those that reduce it. Passed by Congress in 1991, the _____ created incentives for organizations to develop and implement ethical compliance programs. Federal Sentencing Guidelines for Organizations What law instituted a whistle-blower bounty program in which whistle-blowers are eligible to receive 10 to 30 percent of fines if their reports result in convictions of more than $1 million in penalties? Which of the following is the first step in the ethical decision making process? Soliciting the opinions of others in a work group or in the overall business in order to gain feedback Philosopher John Rawls believed justice principles were beliefs that everyone could accept An ethical corporate culture needs _____ along with _____ to establish an ethics program and monitor the complex ethical decisions being made by employees shared values. proper oversight _____ is considered the father of free market capitalism. He believed that business was and should be guided by the morals of good men. Kant's categorical imperative and the Golden Rule are examples of which moral philosophy? A marketing manager who orders that a manufacturing plant be refitted to make it safer for workers, no matter what the cost, may be a(n) _____ because he believes in the rights of all individuals. While he is normally against the idea of harming animals, Eric views animal research in the pharmaceutical industry as a way to improve drugs that will benefit mankind. Which moral philosophy most closely represents his viewpoint? The concept of moral philosophies are inexact. What means the message has a tendency to mislead confuse or deceive the public?Fraud. Means the message has a tendency to mislead, confuse, or deceive the public.
What is the first step toward understanding business ethics?The first step towards understanding business ethics is to develop ethical-issue awareness. This business-as-war mentality may foster the idea that honesty is unnecessary in business. In addition, an intensely competitive environment creates the potential for companies to engage in questionable conduct.
What is an important element of virtue and means being whole sound and in unimpaired condition?Integrity a) Integrity is one of the most important and oft-cited elements of virtue, and refers to being whole, sound, and in an unimpaired condition.
What are the three fundamental elements that motivate people to be fair?There are three fundamental elements that motivate people to be fair: equality, reciprocity, and optimization.
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When a restaurant claims that it sells the worlds best cup of coffee, it could be accused of
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