Chapter 1 Quiz

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.

a. True

Many studies have found a positive relationship between which of the following?

a. an ethical culture and good business performance

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. business ethics

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. moral dilemma

The Sarbanes-Oxley Act made it illegal for U.S. businesses to issue bribes to foreign government officials.

b. False

An organization that has a strong ethical environment usually has a core value of placing _____ interests first.

b. customers'

Some examples of what concept can include human rights, freedom of speech, and the fundamentals of justice?

b. principles

The term ethical culture is associated with all of the following except _____.

c. maximizing profits and placing shareholder's first

An organization's obligation to maximize its positive impact on stakeholders and to minimize its negative impact refers to its _____.

c. social responsibility

The concept that centers around enduring beliefs and ideals that are socially enforced, such as teamwork, trust, and integrity is called _____.

c. values

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.

d. Global Compact

Before anything else, businesses must _____ to survive.

d. make a profit

The Consumers' Bill of Rights decreed by President John F. Kennedy specified all of the following EXCEPT the right to _____.

e. freedom

What concept refers to a person's personal philosophy about what is right or wrong?

morals

According to the text, business ethics comprises organizational principles, values, and __________ that may originate from individuals, organizational statements, or from the legal system.

norms