BUSI 472 Chapter 1
Business ethics comprises
a. principles and standards that guide behavior in the
world of business.
b. mores, values, and customs that guide behavior in
general.
c. the obligations businesses assume to maximize their
positive impact and minimize their negative impact on
stakeholders.
d. the mores, values, and customs that parents teach
their children.
e. laws and regulations that guide behavior in the world
of business.
A
A stakeholder orientation isn't complete unless it includes
a. finance.
b. activities that actually address stakeholder issues.
c. accounting.
d. marketing.
e. special interest groups.
B
An ethical issue is a problem, situation, or opportunity
a. requiring an individual, group, or organization to
choose between harming consumers or the environment
and earning more profits.
b. that harms consumers.
c. requiring society to choose among several actions that
must be evaluated as right or wrong.
d. requiring an individual, group, or organization to
choose among several actions that must be evaluated as
right or wrong, ethical or unethical.
e. that harms the environment.
D
________ law not only prohibits specific actions such as
fraud, theft, or securities trading violations, but also
imposes fines or imprisonment as punishment for
breaking the law.
a. Criminal
b. Civil
c. Administrative
d. Regulatory
e. Competitive
A
The perceived relevance or importance of an ethical issue
to the individual, work group, or organization is
a. ethical issue intensity.
b. ethical issue morality.
c. immediate job context.
d. ethical issue cognitive state.
e. organizational culture.
A
Moral philosophy refers to
a. the morality of business activities.
b. the system of values by which a person lives.
c. the legality of business activities.
d. the principles or rules that all businesspeople use in
making business decisions.
e. the principles or rules that people use to decide what is
right and wrong.
E
Which of the following statements about power is true?
a. The use of power is unethical.
b. The use of power may raise ethical issues.
c. People generally use only one base of power to effect
change in others.
d. The five bases of power are mutually exclusive.
e. Expert power exists when one person takes actions
that will lead that person and others to achieve their
mutual objectives.
B
Fostering ethical decision making within an organization
requires improving the firm's ethical standards and
a. conducting simulation exercises.
b. terminating ethical persons.
c. securing ethical suppliers.
d. improving unethical persons.
e. terminating unethical persons.
E
We have an expert-written solution to this problem!
Ethics auditing is similar to __________ auditing because
they both employ the same procedures and processes to
create a system of integrity that includes objective
reporting.
a. financial
b. legal
c. regular
d. citizenship
e. social
A
The misuse and misallocation of scarce resources is an
ethical issue related to
a. racial differences.
b. cultural differences.
c. multinational corporations.
d. legal differences.
e. international negotiations.
C
Which leadership type values people, their emotions, and
their needs and relies on friendship and trust to promote
flexibility, innovation, and risk taking?
a. Pacesetting leadership
b. Authoritative leadership
c. Coercive leadership
d. Coaching leadership
e. Affiliative leadership
E
Congress passed the ____________ to give the EPA the
ability to track the 75,000 industrial chemicals currently
produced or imported into the United States.
a. Food Quality Protection Act
b. Federal Insecticide, Fungicide, and Rodenticide Act
c. Toxic Substances Control Act
d. Safe Drinking Water Act
e. Federal Water Pollution Control Act
C
Business Ethics
Definition:
Comprises organizational principles, values, and norms
that may originate from individuals, organizational
statements, or from the legal system that primarily guide
individual and group behavior in business
Morals
Definition:
A person's personal philosophies about what is right or
wrong
Values
Definition:
Enduring beliefs and ideals that are socially enforced
Consumers' Bill of Rights
Definition:
From President John F. Kennedy's 1962 "Special Message
on Protecting the Consumer Interest" that outlined four
basic consumer rights: the right to safety, the right to be
informed, the right to choose, and the right to be heard
Principles
Definition:
Specific and pervasive boundaries for behavior that
should not be violated
Defense Industry Initiativr on business ethics and conduct
developed to guide corporate support for ethical conduct
federal sentencing guidelines for organizations
Definition:
Approved by Congress in November 1991, set the tone
for organizational ethical compliance programs in the
1990s
corporate social responsibility
Definition:
An organization's obligation to maximize its positive
impact on stakeholders and minimize its negative impact
Sarbanes-Oxley Act
ethical culture
acceptable behavior as defined by the company and
industry
Dodd-Frank wall street reform and consumer
protection act
addressed some of the issues related to the financial
crisis and recession and designed to make the financial
services industry more ethical and responsible
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