Bus Ethics Ch. 1

Business ethics was institutionalized through the Federal Sentencing Guidelines for Organizations during which of the following periods?

1990's

Less than half of the respondents of a recent survey reported having an overall trust in business. Which of the following industries has the lowest rating after the most recent financial meltdown?

Banking

Because of the recent global financial meltdown, many stakeholders began to question the basic assumptions of _____, as well as how government institutions provide oversight and regulation.

Capitalism

It is generally accepted that _____ and maintaining long-term relationships are some of the most important factors in a successful business strategy.

Customer Satisfaction

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

False

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.

Global Compact

Before anything else, businesses must _____ to survive

Make a profit

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

Norms

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

Social Responsibility

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

True

Many studies have found a positive relationship between which of the following? a. High levels of government regulation and cultural values. b. An ethical culture and good business performance. c. Apathetic boards of directors and an ethical culture. d. Unmotivated employees and good business performance. e. High cultural values and low industry competition.

b. An ethical culture and good business performance.

The Consumers' Bill of Rights decreed by President John F. Kennedy specified all of the following EXCEPT the right to a. safety. b. freedom. c. be heard. d. be informed. e. to choose.

b. freedom.

Which of these argued that it is impossible to eradicate all wrongdoing in a large corporation, and that the best one can hope is that the wrongdoing is minor and caught in time? a. Angelo Mozilo b. David Cameron c. Hilary Clinton d. Warren Buffet e. John Maynard Keynes

d. Warren Buffet

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

Customers