CH 1 - important of business ethics
An organization that has a strong ethical environment usually has a core value of placing _____ interests first. A. customers' B. stockholders' C. competitors' D. government's E. management's
A
Before anything else, businesses must _____ to survive. A. make a profit B. be popular C. have a great reputation D. sell internationally E. compensate their employees well
A
The concept that centers around enduring beliefs and ideals that are socially enforced, such as teamwork, trust, and integrity is called _____. A. values B. business ethics C. principles D. morals E. philosophy
A
Because of Sarbanes-Oxley, publicly traded companies must develop _____ to assist in maintaining transparency in financial reporting A. ethics programs B. code of ethics C. accountants D. ethics officers E. legal counsel
B
The Consumers' Bill of Rights decreed by President John F. Kennedy specified all of the following EXCEPT the right to _____. A. to choose B. freedom C. be informed D. be heard E. safety
B
The concept in the chapter that is defined as a situation where the person is faced with multiple choices, all of which are undesirable as defined by the person is called a _____ A. value crisis B. moral dilemma C. philosophical analysis D. principle decision E. value turpitude
B
An organization's obligation to maximize its positive impact on stakeholders and to minimize its negative impact refers to its _____. A. ethical dilemma B. consumerism C. social responsibility D. moral justice E. regulation mandate
C
The term that 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 is defined as _____. A. principles B. values C. business ethics D. morals E. philosophy
C
Many studies have found a positive relationship between which of the following? A. unmotivated employees and good business performance B. apathetic boards of directors and an ethical culture C. high levels of government regulation and cultural values D. an ethical culture and good business performance E. high cultural values and low industry competition
D
According to the text, business ethics comprises organizational principles, values, and __________ that may originate from individuals, organizational statements, or from the legal system. A. morals B. laws C. meanings D. directions E. norms
E
Some examples of what concept can include human rights, freedom of speech, and the fundamentals of justice? A. business ethics B. values C. morals D. philosophy E. principles
E
The _____ is a set of 10 principles concerning human rights, labor, the environment, and anti-corruption. This document seeks to create openness and alignment among business, government, society, labor, and the United Nations. A. NAFTA B. The Sullivan Principals C. MERCOSUR D. CERES Principals E. Global Compact
E
The term ethical culture is associated with all of the following except _____ A. acceptable behavior as defined by the company and industry B. positively related to workplace confrontation over ethics issues, reports to management of observed misconduct, and the presence of ethics hotlines C. culture that creates shared values and support for ethical decisions and is driven by the ethical leadership of top management D. the component of corporate culture that captures the values and norms an organization defines and is compared to by its industry as appropriate conduct E. maximizing profits and placing shareholder's first
E
What concept refers to a person's personal philosophy about what is right or wrong? A. values B. business ethics C. philosophy D. principles E. morals
E
What happens when society deems a particular business action as wrong or unethical? A. The guilty individual is jailed B. Fines automatically follow C. The company goes bankrupt D. Self-regulation is deemed a failure E. Legislation usually follows
E
The Sarbanes-Oxley Act made it illegal for U.S. businesses to issue bribes to foreign government officials. (T/F)
F
Prior to the 1960s, ethical issues related to business were discussed mainly in the domain of theology or philosophy (T/F)
T
The ethical component of a corporate culture relates to the values, beliefs, and established and enforced patterns of conduct that employees use to identify and respond to ethical issues. (T/F)
T