Business Law CHP 2 HW Questions

The human resource policy of a company states that the company aims to treat all humans identically, regardless of race, class, gender, age, and sexual preference. Which of the following values influencing business ethics does this best illustrate? A) Justice B) Security C) Efficiency D) Freedom

Justice

For a firm to be an ethical business, the minimum standard to be met would be:

Choosing a lawful way to compete against rival firms

What is Business Ethics?

Ethical Conceptions shape business law and business relationships uniquely in each country

Acme Foods INC. manufactures food products and is opening subsidiary in United Cadiva. The firm discovers that to obtain raw materials it has to make some facilitating payments to the local officials and businesses in the host country. The second option is to import raw materials for its own country, which will be expensive in the long-run. The managers at Acme are unable to decide which of the two options would be a better choice. Which of the following terms would best describe the situation Acme Food INC. is experiencing? A) Moral Lapse B) Ethical Dilemma C) Culture Shock D) Causal Ambiguity

Ethical Dilemma

_______ is best described as a problem about what a firm should do for which no clear or right decision is available. A) Ethical Dilemma B) Casual Ambiguity C) Social Complexity D) Cognitive Dissonance

Ethical Dilemma

The _______ holds that the right course of action is the option most consistent with the building and maintaining of human relationships A) Utilitarianism Approach B) Theory of Ethical Relativism C) Ethics of Care D) Absolutism Approach

Ethics of Care

Businesses have social responsibilities that they need to honor because they:

Operate in a community that has expectations from the businesses.

The _______ is also called the "television test" for it requires us to imagine that our actions are being broadcast on the national television A) Ethical Relativism Test B) Public Disclosure Test C) Universalization Test D) Golden Rule Test

Public Disclosure Test

The ______ of a firm are best described as the many groups of people affected by the firm's decisions. A) Creditors B) Stakeholders C) Mediators D) Category Captains

Stakeholders

________ are best described as positive abstractions that capture our sense of what is good or desirable A) Laws B) Values C) Norms D) Statues

Values