BUS/475: Integrated Business Topics Wk 4 - Practice: Ch. 12, Corporate Governance and Ethics [due Day 5]

When facing an ethical dilemma, a manager should ______. (Check all that apply.)

- determine whether he or she could comfortably defend the action to the public - consider whether the action in question conforms to the firm's code of conduct and industry practices

True or false: Any action taken by a manager that is within the bounds of the law is, by definition, an ethical action.

False

Pavel works for a successful pharmaceutical company. Despite several years of unprecedented growth, the company wants to boost profits even more. It has taken steps to drastically raise the prices of its most widely distributed medications, which are difficult to imitate. Research into employee ethical decision-making capacity indicates that Pavel will ______.

act in a manner that reflects his company's organizational culture

The code of professional conduct based on societal norms and expectations is known as ______

business ethics

Which of the following have been found to be ethical norms in business? (Check all that apply.)

honesty reciprocity fairness

Employees who work in organizations that emphasize ethical behavior are ______.

more likely to act ethically.

Who sets the tone for the ethical climate within an organization?

strategic leaders

Which of the following are important components of fostering ethical behavior in employees?

board members setting clear ethical expectations strategic goals that are achievable with legal means executive behavior that is in sync with the organization's vision and values

High-profile accounting scandals and the global financial crisis are examples of ___.

companies and industries that did not conform to business ethics