BUSI 1301 ethics

Which of the following statements is true of ethics?

Actions that are completely legal can still be unethical.

In the context of business behavior, producing products that you know will break before their time is illegal and unethical.

False

The number-one goal of any business is to contribute to society.

False

Planned obsolescence represents a clear violation of social responsibility.

True

In the context of the legal and ethical dimensions of business conduct, it is illegal and unethical to:

engage in sexual harassment

In the video, "What really motivates people to be honest in business?" the speaker cites research that states, in the US 1 in how many large public corporations are committing fraud?

7

Sustainable development means weaving environmentalism throughout the business decision-making process.

True

The personal needs, the culture, and the family of an individual influence his or her ethical choices.

True

When people view ethics as relative, their ethical standards shift depending on the situation.

True

The chairman of a welfare organization asks an employee to head a fundraising activity. The employee, however, embezzles $250,000 from the funds raised from the activity and falsifies financial records. In this scenario, the behavior of the employee is __________.

illegal and unethical

In the NPR recording about Moderna, the pharmaceutical company trying to create a COVID vaccine, what criticisms have been raised about about the executives' recent stock sales?

All the above -The executive's timing of their stock sales are suspicious -Some executives have sold all their stock in the company -The "planned" stock sales have been changed recently

Codes of conduct work best when people are given the freedom to choose whether they wish to follow them or not.

False

In the context of the legal and ethical dimensions of business conduct, practicing collusion with competitors is legal but unethical.

False

In the video "What are business ethics?" the narrator says that at work, you are expected to look out for your own ethics, rather than the company's.

False

Stakeholders refer to groups of people who have a malicious intent toward an organization and who often resort to harmful actions.

False

In the video, "What really motivates people to be honest in business?" Alexander Wagner states that people have been shown to be motivated primarily by:

Protected values

In the context of business ethics, in an ethical dilemma, every potential course of action has some significant negative consequences.

True

In the context of consumerism, smart businesses view customer complaints as an opportunity to create better products and stronger relationships.

True

In the context of creating and maintaining an ethical organization, when employees perceive more management commitment, they tend to be more fully engaged.

True

A chocolate manufacturing company promoted a high-calorie product without providing complete information about the risks involved in its consumption. In the context of business behavior, the company's business conduct was:

legal but unethical

Gander, an apparel company, is known to be a profit-hungry company. It lands in a controversy when it comes to light that the company pays almost nonliving wages to the workers in its manufacturing subsidiaries based in developing countries. In the context of business behavior, Gander's business conduct is:

legal but unethical

Promoting high-calorie/low-nutrient foods with inadequate information about the risks is a(n) _________ practice.

legal but unethical

Vandium, a high-end smartphone, is known for its excellent audio quality and processing speed. However, most of its users complain of certain technical issues after a period of five months. The company, however, is well aware of these issues because it deliberately designs these products to fail after a certain period- a strategy to generate revenue through service charges. In the context of business behavior, Vandium's business conduct is:

legal but unethical

In the United States, people come from such diverse backgrounds that establishing broad agreement on specific ethical standards can be daunting. In this situation, a given country's _________provides a solid starting point for examining ethical standards.

legal system

The obligation of a business to contribute to society is referred to as _________.

social responsibility