BUS Quiz chapter 2

The term ________ refers to a business's obligation to maximize its positive impact and minimize its negative impact on society.

social responsibility

Which of the following laws reformed the financial industry and offered consumers protection against complex and/or deceptive financial products?

the Dodd-Frank Act

An ethical issue is an identifiable problem, situation, or opportunity that requires a person or organization to choose from among several actions that may be evaluated as ethical or unethical.

True

________ is the act of an employee exposing an employer's wrongdoing to outsiders.

Whistleblowing

Which of the following is associated with a hostile workplace when a person or group is targeted and is threatened, harassed, belittled, verbally abused, or overly criticized?

bullying

The principles and standards that determine acceptable conduct in business organizations are referred to as

business ethics

Abusive behavior is difficult to assess and manage because of

diversity in culture and lifestyle.

The concept of social responsibility is universally accepted.

False

The ________ Act criminalized securities fraud and toughened penalties for corporate fraud.

Sarbanes-Oxley

The fact that businesspersons are expected not to harm customers, clients, and competitors knowingly through deception, misrepresentation, coercion, or discrimination is part of the practice of

fairness and honesty

How do the terms business ethics and social responsibility differ from each other?

Business ethics relates to an individual's or a work group's decisions that society evaluates as right or wrong, whereas social responsibility concerns the impact of the entire business's activities on society.

Which of the following countries is included in the list of least corrupt countries?

Denmark

Jasmine and Kevin are competing for a promotion. Hoping to sway her manager to promote her over Kevin, Jasmine gives her manager an expensive watch. This is an example of

bribery

________ are payments, gifts, or special favors intended to influence the outcome of a decision.

bribes

Managers are responsible for

encouraging employees to engage in activities that they might otherwise view as unethical.

People in the entertainment industry claim that requiring warning labels on movies and videogames violates their ________ right.

first amendment

________ is the buying or selling of stocks by insiders who possess material that is still not public.

insider trading

Co-workers and superiors exert significant control over your choices at work through authority and example.

true