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The company's efforts to develop control mechanisms, which will also increase shareholder value and promote satisfaction with shareholders and stakeholders.
Which of the following statements is TRUE?
Fiduciary duties are the legal obligations of a professional to act in the best interest of his clients.
Which of the following is NOT an example of a philanthropic social responsibility initiative?
Which of the following is NOT true about norms?
Making sensible ethical choices does not require an understanding of ethical issues and a prepared method for discovering the ethical sides of a decision and evaluating the alternatives that should impact our choice of action.
A company increases the possibility of high risk behavior when it is not fully supporting people.
Being able to work in a team with different people from all ages and backgrounds is part of the expectations of the employer to their workers.
Negligence can be distinguished as a failure to practice reasonable care or ordinary caution that causes another to be harmed.
Operating a business in an entirely ethical way builds a stronger bond between individuals in leadership positions that further creates stability within the company.
For some employees, the loss of a ob due to downsizing can be a positive step that allows them to reinvent themselvs.
The Four Ps of marketing are product, purpose, price, and profit.
Organizations can use ethical marketing as a way to establish trust among their customers by living up to the claims made in its advertising.
There is a principle called _____ which is Latin for: let the master answer.
There is a vital relationship between integrity and ethics.
_____ is logic that is used to direct action.
An old approach to ethics is that ethical actions should not be consistent with certain virtues that provide for the full development of humankind.
_____ Are professions that enforce rules and attest to the fundamental fairness of the system. Examples of these are accountants, financial analysts, attorneys, and auditors.
In the virtue framework, one tries to identify the negative character traits that might motivate people in a given situation.
The Sarbanes-Oxley act of 2006 decreed strict changes to improve financial disclosures from companies and impede accounting fraud.
_____ is one that rules should be clearly stated and consistently and impartially enforced.
_____ is a reason that is enough to fire an employment contract immediately and for which, no notice or severance pay is due to the employee.
_____ The legal obligations of a professional to act in the best interest of his clients.
In the Character Approach, the judgment concered addresses both the morality and the consequences of an act.
Getting the facts is the first step to ethical decision-making.
To _____ someone is to treat them as a means to an end; as a tool to be used instead of as an autonomous individual in his right.
Which statement/s are legitimate challenges to utilitarian ethical theory?
_____ It mainly poses the question: What effect would everyone doing this action have on the general balance of good over evil?
_____ is a reason that is enough to fire an employment contract immediately and for which no notice or severance pay is due to the employee.
A _____ is a situation in which personal and/or financial considerations have the potential to influence or compromise professional judgment.
Which of the following is true about culture?
A person who always makes use of the Character Approach will likely be considered dogmatic and hard to get along with.
Only the management is obliged to make decisions in the business environment every day.
The issues of due process and just cause are not connected to business owners disciplinary actions because the employets must have disciplinary procedures that make sure that their employees are disciplined for just reasons and only after the correct procedures have been followed.
If law will hold business liable for implicit promises, a weak business will try to limit its liability by clearly disowning any promise or warranty.
In general, corporate governance refers to the rules, procedures or laws whereby businesses are regulated, oprated, and controlled.
Because the language of ethics is so different from talk about operational fields of finance, marketing, accounting, management, law, and human resources, ethical concepts and categories are not relevant to these fields.
The theory of virtue ethics focuses on a full and detailed description of those character traits that would constitute a good and human life. Egoism is simply not a factor in the ethical decision-making of caring, empathetic, charitable, and sympathetic persons.
_____ is a strong predictor of human trafficking and may come in the form of bribery and usury fees paid by workers to recruitment agents.
_____ is the unjust treatment of employees based on prejudices.
Liability can be defined as a failure to practice reasonable care or ordinary caution that causes another to be harmed.
Ethics refers to
The _____ approach ocuses on the ideal characteristics required for promoting employees for the company.
Change blindness results from focusing on failures.
It espouses that moral behavior generates the greatest good for the vast majority.
Proprietors do not need to honor any commitments made to employees, customers or clients.
Rule utilitarianism mainly poses the question "What effect would everyone's doing this action have on the general balance of good over evil?"
Laws can be morally wrong or unethical.
Emphasis that human being have basic rights and liberties that cannot be taken away by the decision of someone is the
Ethical predicaments in the workplace are common, and they are always easy to resolve.
_____ It is a principle that seeks to do the most good and restrict the amount of harm for each individual.
The essence of business ethics extends beyond employee loyalty and morale or the strength of a leadership bond.
The literal translation of cave emptor means Let The Buyer Beware.
Strict product liability is a legal rule that says a seller of a defective product is liable to a person injured by that product regardless of whether the seller did everything possible to make sure the defect never happened.
The more difficult the ethical choice we have to make, the more we need to avoid difficult people and situations.
Business Code of Ethics defines acceptable behavior and promote high standards of practice.
Which concerns does CSR address?
Female have the right not to be sexually harassed, but male employees do not have this right because a man cannot be sexually harassed.
Individuals who are shamed, bullied or discriminated against based on preconceived judgments of their appearance, disabilities, or lifestyles are victims of
The Control Environment is the culture or tone of a company.
Based on the COSO framework, monitoring control activities are policies and procedures that support the control environment.
Which of the following is NOT true about the 2002 Sarbanes-Oxley Act (SOX)?
The character approach analyzes a person's or group's intentions, inclinations, and motives and then creates a moral judgment of the person's or group's character.
Caveat emptor is a phrase that is simply an effort to illustrate the broader concept of freedom of contract as it applies to the seller-buyer relationship.
Rule utilitarianism is usually deemed as the most natural interpretation of the utilitarian ideal.
Managers are not accountable for the ethical conduct of their subordinates. This is made possible by making sure employees are aware of the code of ethics of the organization and have the opportunity to validate and clarify their misunderstanding.
Some traditions are relatively ethical, but others become corrupt or oblivious to certain ethical manners.
Only Managers are obliged to make decisions in the business environment every day.
The Rule of 7 states that for every individual you minus to a group beyond seven, decision effectiveness declines by 10 percent.
_____ refers in general to the rules, procedures, or laws whereby businesses are regulated, operated, and controlled.
Identify the statement that is consistent with utilitarian ethical theory.
When an organization shows concern for the people and environment in which it transacts business it is called ______
The following account for the vast majority of poor decisions
Business ethics are moral guidelines for the conduct of business established on notions of what is right, wrong, and fair.
Moral dilemmas emerge when individuals or groups need to pick between contending values.
Decisions taken within an organization may be made by individuals or groups, but whoever makes the decisions will be affected by the culture of the company.
One major disadvantage of affirmative action in the workplace is the reality or perception of reverse discrimination.
Which of the following is true about Ethical marketing?
Which of the following is true about negligence?
Employees make better decisions efficiently without a governing standard.
Even without marketing, a business may offer the best products or services in an industry.
In the Sarbanes-Oxley Act, Section 404 refers to the services outside the scope of auditors.
Employers do not have a responsibility to their employees to protect them from discrimination and unfair treatment in the workplace.
Companies that practice social reponsibility marketing strategies
______ provide relevant insight for our ethical choices.
An individual who uses the Principle approach believes that an action or decision is right or wrong regardless of the consequences.
Ethical decision-making seeks to benefit the company as a whole, instead of allowin just one individual gain from business decisions.
Which statement is an argument against corporate social responsibility?
It emphasizes that human beings have basic rights and liberties that cannot be taken away by decision.
In the Sarbanes-Oxley Act, Section 406 refers to codes of ethics for senior financial officers.
Employees who do not work for an organization that requires a high standard of business ethics in all aspects of operations tend to complete their job duties at a higher level and stay loyal to that organization.
The major reason to study ethics is that whether or not we examine the questions What should I do? or What type of person should I be? or How shall we live in community? we answer them in the course of living our everyday lives.
The words and deeds of someone will be in agreement with the ethical standards of the company when a person has a low degreee of integrity.
Building an ethical business environment happens in a day.
The Virtue Approach is ethical actions consistent with beliefs and habits that enable us to act according to the best of our character and on behalf of values like honesty and truth.
The right to due process often comes up when the government needs to take the property of someone for public use.
If something is seriously wrong, the law will prohibit it. Consequently, it is enough to rely on the law for deciding what is right or wrong.
Accept terms and conditions are usually done as a part of joining procedure.
An _____ is a legal connection that is formed between an employee and employer when work is completed for monetary remuneration.
If an employee has different religious belief and practices from his employer, he can be rightly fired from his job.
Companies have a corporate social responsibility is about caring for the workers, giving back to the community, and being financially encironmentally, and socially responsible.
Because utilitarianism focuses on consequences, producing the greatest happiness for the greatest number, as the sole criterion for determining ethical right and wrong, no action is ever right or wrong in itself, in all cases, in every situation-even, perhaps, murder, rape, theft, deceit, and lying.
_____ It is discrimination against members of a dominant or majority group in favor of members of a minority or historically disadvantaged group.
_____ alludes to the range of similarities and differences between people in a company.
Which of the following is an example of a fiduciary relationship?
In this perspective, the principle of utility (do whatever will produce the best overall results) should be applied on a case by case basis.
_____ It is the applied ethics discipline that focuses on the moral aspects concerning business activity.
A strong allure of the _____ is its cost-benefit aspect.
Intelligent and good-hearted people all share the same values and hold similar opinions about which values should abound.
_____ is a term that is usually used in the field of law that is known by lay people as negligence.
This approach suggests that linked relationships of society are the foundation of ethical reasoning and that reverence and concern for all others are conditions of such grounds.
Which of the following is an element that makes ethical behavior conducive within an organization?
Which of the following would most likely cause unethical behavior?
Acting with honor is a vital characteristic of a business owner.
_____ is a general set of guidelines to assist organizations as they evaluate new marketing strategies.
There are circumstances in which buyers can be harmed by a product even when no negligence was involved.
Philosophical ethics distinguishes what people do value from what they should value.
Acting and reflecting on the outcome is the last step to ethical decision-making.
There are five types of ethical standards: utilitarian, rights, fairness or justice, common good, and virtue.
Reducing the number of employees on the operating payroll is called _____.
CSR stands for
Which of the following is NOT true about corporate culture?
People using the principle approach often ask such questions as "What's the bottom line?" "What effect will this have?" "What good will this bring about?" and "Will this help in the long run?"
Practical reason tries to gauge the way things are while theoretical reason determines how the world should be and what individuals should do.
The utilitarian ethical tradition would take the agreement of the two participants as proof that both are better off than they were before the exchange and accordingly conclude that general happiness has been raised by any exchange openly entered into.
Corporate culture is a set of characteristics that identifies a business. It involves employee attitudes, standards, and ways of doing things.
In the doctrine respondent inferior, a principal is held responsible for the actions of its agent when said agent is acting in the regular course of his duties to the principal.
The legal obligations of a professional to act in the best interest of his clients is called _____.
Social responsibility is an ethical ideology, in which individuals are responsible for executing their civic duty; the actions of a person must benefit the whole of society.
_____ It is a method by which a product or service is presented and promoted to possible customers.
Corporate governance is a set of characteristics that identifies a business.
Some traditions are relatively ethical, but others become corrupt or oblivious to certain ethical matters.
The character approach is the most familiar since most ethics education is based on character.
Sustainable development involves conducting business in a way that protects the environment while making economic progress.
In business, caveat emptor means to allow the potential buyer who is considering the procurement of an item to check the item, and then allow him to decide the terms on which he is agreeable to buy or decline the item.
What is the definition of ethics?
Bentham and Fraedrich illustrate two kinds of ethics programs, compliance and values-based.
Investors do not have to depend on auditors to objectively assess the financial statements of a company.
Rule utilitarianism emphasizes the specific situations and the many individual features of the circumstances that offer moral problems, and it presents a simple method for addressing these individual cases.
BEcause people already know right from wrong, the study of business ethics is simply an unprofitable exercise.
It maintains that moral decisions must be based on standards of equity, fairness and impartiality.
A conflict of interest is a situation in which personal and/or financial considerations have the potential to influence or compromise professioanl judgment.
When a company sponsors a charity event that is aligned with their core mission and vision, that company is practicing which of the following concepts?
It occurs when decision-makers fail to see gradual changes over time.
Sustainable or _____ marketing is based on concepts of environmental and social sustainability, and attempts to meet the needs of the current generation without destroying the future.
Utilitarianism poses a relatively simple mode for determining the morally right course of action for any specific situation one may be in.
Sustainable or green marketing refers to circumstances where people are subject to directed commercial activity and are unaware of it.
A _____ is a common normative standard of conduct, holding that a specific decision or action is good or true or right for all every time and everywhere.
Which of the following statements is decisive in determining whether or not to study business ethics?
The idea of social responsibility is based on a system of ethics, in which decisions and actions must be ethically analyzed before moving forward.
One kind of ethics program is the _____ system that depends on self-policing and motivation rather than coercion.
_____ A principal factor of tort law, it concerns a kind of ethical neglect, particularly neglecting duty to practice reasonable care not to harm others.
Due process does not mean that employees get to hold their jobs under any circumstance
Shoring preference for selecting and/or promoting members of a demographic or minority group with a history of discrimination is called
Which of the following is NOT true about corporate governance?
COSO stands for The Committee of _____ Organizations of the Treadway Commission.
_____ means that the government cannot take away the life, liberty, or property interest of a person without giving them notice and a fair hearing.
An _____ is a legal connection that is formed between an employee and employer when work is completed for monetary renumeration.
What are ethical theories?
According to philanthropic model of corporate social responsibility, the social responsibility of business managers is to pursue profit with the law.
Ethics does not only mean pursuing traditionally accepted norms.
Which of the following is NOT true about ethical marketing?
Respondent superior is Latin for consumer rights.
Work ethics are
_____ is a concept that individuals should be compensated for the damages of their injuries by the liable party and that individuals should not be held responsible for matters over which they have no control.
Organizations operating internationally have become exposed to a greater level of operational risk.
It results from focusing on failures.
The _____ to ethics believes that ethical actions should be consistent with certain virtues that provide for the full development of humankind.
Should a gas station owner be allowed to charge Pgp10 more per liter, if this store is the only store with gas?
Which of the following stakeholders are interested in CSR?
The abbreviation COSO stands for The Committee of Sponsoring Organizations of the Treadway Commission.
Integrity is an obligation, not a choice.
_____ It is a Greek word that literally means love of the fellow human.
The Sarbanes-Oxley Act of 2002 was created by US senator Philip Sarbanes and US Representative Michelle Oxley.
In the consequence approach, those who make decisions weigh several probable results and arrive at the decision likely to produce the best result.
As long as individuals follow the mores, customers, and rules of their culture or society, they are assured that their actions are ethically correct.
_____ or undercover marketing refers to circumstances where people are subject to directed commercial activity and are unaware of it.
Producers owe only those things promised to consumers in the sales agreement.
For business owners, it is vital to speak and act in a trustworthy manner.
Social responsibility is an ethical ideology, in which individuals are responsible for executing their fiduciary duty.
An employee is terminated for just cause where he has been found to have been dishonest with the employer, such as theft of corporate property or in the participation of a competitor business.
Proponents of corporate social responsibility highlight three advantages, which they refer to as a triple bottom line. Which of the following is NOT one of these three advantages?
Unlike rule utilitarians who try to maximize overall utility by applying the utilitarian principle to individual acts, act utilitarians maintain that one can maximize utility only by setting up a moral code that consist of rules.
There is still a high risk of unethical behavior even when companies have great rules and procedures and obey the laws and regulatiions.
_____ It has been defined as showing a preference for selecting and/or promoting members of a demographic or minority group with a history of discrimination.
Acting in an ethical way does not concern distinguishing between right and wrong and then making the right decision.
Corporate culture refers in general to the rules, procedures, or laws whereby businesses are regulated, operated, and controlled.
What type of companies do individuals tend to want to work for?
Tostudy an issue using utilitarian approach, first, ask who will be affected by each action and what gains and harms will be assumed from each.
_____ are business professionals that enforce rule and attests to the fundamental fairness of the system.
Which of the following reasons accounts for the dominance of utilitarianism among policy makers and administrators?
_____ It is a set of characteristics that identifies a business.
Employment security is about the protection of workers against vacillations in earned income as a result of job loss.
Beauty, empathy, courage, generosity, patience, love, loyalty, integrity, justice, self-control, and prudence are all examples of virtues. Terminal values refer to preferable modes of behavior.
This provision in the Sarbanes-Oxley Act prohibits various forms of professional services that are determined to be consulting rather than auditing.
Sarbanes-Oxley Act entails requirements for verification of the statements by officers.
The social responsibilities of a management include all of the following except
Business ethics is an instrument organizations use to guarantee managers, directors, or executive officers act responsibly in different business situations.
It follows that if people neglect their duties, then other people’s rights may be neglected.
Vital decisions are easy to make with many people. Different personalities interfere with reason and argument.
Under health and safety law, the principal responsibility for health and safety is down to employers.
_____ has been defined as showing a preference for selecting and/or promoting members of a demographic or minority group with a history of discrimination.
CSR is a _________ initiative
The challenge of resolving moral approaches is intensifies by the problem that people have similar approaches to moral decision-making.
_____ refers to reducing the size of a company by eliminating workers and/or divisions within the company.
_____ is an internal system of principles which guide your behavior with intrinsic benefits.
The heart of a business success does not depend on its marketing.
The approach of social responsibility is based on a system of ethics, in which decisions and actions must be ethically ratified before proceeding.
The Character approach analyzes the intentions, inclinations, and motives of a person or group, and then creates a moral judgment of the character of said person or group.
A corporate director who bought that company stock when he knew it was about to jump up in price committed fraud by buying it while not disclosing his inside information.
The Rights Approach is an old approach to ethics is that ethical actions should be consistent with certain virtues that provide for the full development of humankind.
The values-based system of ethics employs legal terms, rules of conduct, training, and penalties for non-compliance.
Which of the following is NOT a way that companies can demonstrate social responsibility?
Which statement/s are characteristic of virtue ethics?
Torts is a term that is usually used in the field of law that is known by lay people as liability.
Making good ethical decisions demands a trained sensitivity to ethical issues and a practicesd manner for surveying the ethical aspects of a decision and weighing the considerations that should impact the choice of a course action.
According to this viewpoint, people should judge the morality of individual actions by reference to general moral rules, and people should judge particular rules by determining whether their acceptance into the moral code would produce more well-being than other possible rules.
This provision in the Sarbanes-Oxley Act requires that management file and internal control report with its annual report each year in order to delineate how management has established and maintained effective internal controls over financial reporting.
Character is a common normative standard of conduct, holding that a specific decision or action is good or true or right for all every time and everywhere.
One of the benefits of having a diverse workforce is it can provide a greater variety of solutions to problems in service, sourcing, and allocation of resources.
Freud and Fraedrich illustrate two kinds of ethics programs, compliance and values-based.
Which of the following is TRUE about ethics?
Managers are accountable for the ethical conduct of those who report to them by making sure employees are aware of the code of ethics of the organization and have the opportunity to va;idate and clarify their understanding.
Ethics is the ideology about right and wrong in the workplace distinguished by social notions of the moral actions of people.
Which proposition correctly describes the concept of a right?
Ethically, tort law maintains that people owe others certain general duties only if it has been clearly and voluntarily stated.
It suggests that linked relationships of society are the foundation of ethical reasoning and that reverence and concern for all others are conditions of such grounds.
_____ is about the protection of workers against vacillations in earned income as a result of job loss.
_____ It regards the moral judgments about right and wrong.
What is social responsibility?
It generally asks the question: What effect will this act have in this situation on the general balance of good over evil?
An utilitarianism generally asks the question "What effect will this act have in this situation on the general balance of good over evil?"
What people do value and what they should value are not necessarily the same.
There will be no parameters limiting what a person will or will not do if virtues did not exist.
Unethical behavior is always against the law.
Most, if not all, businesses give importance to business ethics and usually include in it in the core values of the company.
Ethical character traits include integrity, honesty, and ustice.
Cultural norms are the shared, approved, and incorporated structures of beliefs and practices that are handed down through generations and typify a cultural group.
The theory of social responsibility and ethics only applies in a group context.
The literal translation of _____ is let the buyer beware.
The _____ approach maintains that moral decisions must be based on standards of equity, fairness, and impartiality.
The culture of a company is connected to the characteristics found in the surrounding environment, but it also has some traits that are unique.
_____ are the primary rights of people regardless of their race, sex, religion, political opinion, social status or any other characteristic.
Utilitarianism was developed by Jeremy Bentham and John Stuart Mill in the 18th century.
A document prepared to guide organization members when encountering ethical dilemmas is a(n)
An employee has the right to time off to take care of his sick wife, but does not have the right to take time off to care for his terminally ill neighbor.
An induction program is not really necessary; employers can let each employee know what to expect when they need to know.
The principle approach is the most familiar since most ethics education is based on principles.
When the current management principles is not based on ethical practices and behavior, leaders within an organization can instruct employees by example and guide them in making decisions.
Culture protrays the ethical and moral beliefs and standards that articulate how people should behave and interact with one another.
Which of the following does NOT contribute to the development of the standard of ethics of a manager?
Manipulation would be objected strongly by the principle-based tradition in ethics.
The literal translation of caveat emptor is
_____ alludes to the range of differences between people in a company.
The virtue framework addresses the elements of individual characters and disposition which deepen one's humanity and engender one's relationships with other.
Practical reason is concerned with matters of fact and their explanation of value while theoretical reason is concerned with matters of value abd their explanation.
Working for an organization does not require following an ethical framework when making decisions.
Effective leaders design strategies to achieve desired outcomes, because they are in the business of making a profit.
It is a crucial component of compliance-based ethics.
Maintaining social responsibility within an organization ensures the integrity of society and the environment are protected.
Laws can never be morally wrong or unethical.
______ espouses that moral behavior generates the greatest good for the vast majority.
The _____ espouses that moral behavior generates the greatest good for the vast majority.
Establishing a safe work environment is crucial to the success of a business and is one of the best ways to retain employees and maximize productivity.
_____ This means that the government cannot take away the life, liberty, or property interest of a person.
Sustainable or green marketing is based on concepts of environmental and social sustainability, and attempts to meet the needs of the current generation without destroying the future.
Ultimately, consumers and marketers are responsible for ethical and socially responsible behavior.
The philanthropic model in which business support for a social cause is done simply because it is the right thing to do differs from the reputational version only in terms of the underlying motivation.
Making sensible ethical choices does not require an understanding of ethical issues.
Personal integrity is the base for ethics.
The reputation of a business from other businesses, the community, and investors is important in determining whether a company is a beneficial investment.
It is the shortsightedness of values.
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