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Business Ethics with Good Governance and Social Res

The company's efforts to develop control mechanisms, which will also increase shareholder value and promote satisfaction with shareholders and stakeholders.

public administration

ballada

biore

law abiding

company

business

accountancy

incorporation

governance

control structures

professional behavior

shareholder value

_____ is an internal system of principles which guide your behavior with intrinsic benefits.

  • Integrity

The abbreviation COSO stands for The Committee of Sponsoring Organizations of the Treadway Commission.

  • True
  • False

Which of the following would most likely cause unethical behavior?

  • a. An employee using his own judgment
  • b. A seminar regarding business conduct
  • c. A competitive business environment
  • d. A manual that is unconcerned about real ethical dilemmas

Based on the COSO framework, monitoring control activities are policies and procedures that support the control environment.

  • True
  • False

It espouses that moral behavior generates the greatest good for the vast majority.

  • Fairness or Justice Approach
  • Rights Approach
  • Utilitarian Approach
  • Virtue Approach
  • Common Good Approach

Which of the following is NOT true about the 2002 Sarbanes-Oxley Act (SOX)?

  • Among the specific rules that SOX outlines is separating the roles of board chairman and chief executive officer (CEO)
  • The most effective leaders use their influence to shape corporate culture and motivate ethical conduct.
  • It was enacted as a response to the 2002 financial scandals at Enron and WorldCom that enriched executives and defrauded stakeholders
  • SOX requires codes of ethics be registered with the Securities and Exchange Commission (SEC).

_____ This means that the government cannot take away the life, liberty, or property interest of a person.

  • Due process

One major disadvantage of affirmative action in the workplace is the reality or perception of reverse discrimination.

  • a. True
  • b. False

The values-based system of ethics employs legal terms, rules of conduct, training, and penalties for non-compliance.

  • False
  • True

_____ It is a principle that seeks to do the most good and restrict the amount of harm for each individual.

  • Utilitarian Ethics

Which of the following is NOT true about norms?

  • They work as instructions for right and moral behavior.
  • They do not contribute to the health
  • They promote consistent guidelines for everyday living
  • They offer a sense and reason to life.

The _____ approach maintains that moral decisions must be based on standards of equity, fairness, and impartiality.

  • justice

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.

  • True
  • False

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.

  • Common Good Approach
  • Rights Approach
  • Utilitarian Approach
  • Fairness or Justice Approach
  • Virtue Approach

The character approach is the most familiar since most ethics education is based on character.

  • True
  • False

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.

  • a. True
  • b. False

_____ refers to reducing the size of a company by eliminating workers and/or divisions within the company.

  • Downsizing

_____ or undercover marketing refers to circumstances where people are subject to directed commercial activity and are unaware of it.

  • Stealth

Corporate culture is a set of characteristics that identifies a business. It involves employee attitudes, standards, and ways of doing things.

  • False
  • True

The literal translation of cave emptor means Let The Buyer Beware.

  • True
  • False

_____ 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.

  • just cause

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.

  • The Equality Approach
  • The Common Good Approach
  • The Virtue Approach
  • The Utilitarian Approach

What type of companies do individuals tend to want to work for?

  • a. Ones which display no ethical track record.
  • b. Ones in which ethical dilemmas are minimized.
  • c. Ones which disregard environmental responsibility
  • d. Ones in which there are pressures to act in an ethical way

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.

  • a. False
  • b. True

_____ It is a set of characteristics that identifies a business.

  • Corporate Culture

Rule utilitarianism mainly poses the question "What effect would everyone's doing this action have on the general balance of good over evil?"

  • True
  • False

An old approach to ethics is that ethical actions should not be consistent with certain virtues that provide for the full development of humankind.

  • Common Good Approach
  • Virtue Approach
  • Fairness or Justice Approach
  • Utilitarianism Approach
  • Rights Approach

Corporate governance is a set of characteristics that identifies a business.

  • True
  • False

Acting in an ethical way does not concern distinguishing between right and wrong and then making the right decision.

  • a. True
  • b. False

Ethical predicaments in the workplace are common, and they are always easy to resolve.

  • a. True
  • b. False

An induction program is not really necessary; employers can let each employee know what to expect when they need to know.

  • a. True
  • b. False

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.

  • Act utilitarianism
  • Rule utilitarianism
  • Virtue Approach
  • Character Approach

Should a gas station owner be allowed to charge Pgp10 more per liter, if this store is the only store with gas?

  • Yes, this is honest business practice.
  • It depends; if he really needs the money.
  • No, this is dishonest business practice.
  • It depends what kind of neighborhood he is in.

Business ethics are moral guidelines for the conduct of business established on notions of what is right, wrong, and fair.

  • a. True
  • b. False

_____ The legal obligations of a professional to act in the best interest of his clients.

  • Fiduciary Duties

One kind of ethics program is the _____ system that depends on self-policing and motivation rather than coercion.

  • values-based

Ethical character traits include integrity, honesty, and ustice.

  • True
  • False

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.

  • True
  • False

In the Sarbanes-Oxley Act, Section 404 refers to the services outside the scope of auditors.

  • False
  • True

The reputation of a business from other businesses, the community, and investors is important in determining whether a company is a beneficial investment.

  • True
  • False

Companies that practice social reponsibility marketing strategies

  • a. force those who transact business with them (vendors and investors) to maintain the same standards of practice and values.
  • b. show concern for the people and environment in which they transact business
  • c. are guaranteed to have a better customer loyalty
  • d. will be spared negative attention when they commit illegal activities

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.

  • False
  • True

Ethics is the ideology about right and wrong in the workplace distinguished by social notions of the moral actions of people.

  • False
  • True

Corporate culture refers in general to the rules, procedures, or laws whereby businesses are regulated, operated, and controlled.

  • a. True
  • b. False

An utilitarianism generally asks the question "What effect will this act have in this situation on the general balance of good over evil?"

  • True
  • False

There is a principle called _____ which is Latin for: let the master answer.

  • respondent superior

Social responsibility is an ethical ideology, in which individuals are responsible for executing their fiduciary duty.

  • a. False
  • b. True

The theory of social responsibility and ethics only applies in a group context.

  • False
  • True

_____ has been defined as showing a preference for selecting and/or promoting members of a demographic or minority group with a history of discrimination.

  • Affirmative Action

As long as individuals follow the mores, customers, and rules of their culture or society, they are assured that their actions are ethically correct.

  • False
  • True

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.

  • a. True
  • b. False

Acting with honor is a vital characteristic of a business owner.

  • a. False
  • b. True

Identify the statement that is consistent with utilitarian ethical theory.

  • No act is ever morally right or wrong in all cases ever morally right or wrong in all cases, in every situation. It will depend on the consequences of the act.
  • The end never justifies the means.
  • Adhering to a set of principles may well forbid an act that would otherwise provide overall net good consequences.
  • Some actions like murder, theft, rape, and lying are wrong of their very nature, the kind of acts they are. No amount of net good consequences could ever justify them.

Practical reason tries to gauge the way things are while theoretical reason determines how the world should be and what individuals should do.

  • False
  • True

The essence of business ethics extends beyond employee loyalty and morale or the strength of a leadership bond.

  • False
  • True

Effective leaders design strategies to achieve desired outcomes, because they are in the business of making a profit.

  • False
  • True

Which of the following is NOT true about ethical marketing?

  • It is more of a philosophy that informs all marketing efforts rather than a marketing strategy.
  • No correct answer
  • It is a general set of guidelines to assist organizations as they evaluate new marketing strategies.
  • It can make the customer feel like the company is invested in the quality of the products and the value they provide consumers.

Which of the following is NOT a way that companies can demonstrate social responsibility?

  • a. Reducing their environmental footprint
  • b. Implementing fair hiring practices
  • c. Maximizing profits
  • d. Donating funds to education

The idea of social responsibility is based on a system of ethics, in which decisions and actions must be ethically analyzed before moving forward.

  • a. False
  • b. True

The Control Environment is the culture or tone of a company.

  • False
  • True

Which of the following is true about culture?

  • No correct answer
  • Culture portrays the ethical and moral beliefs and standards that articulate how people should behave and interact with one another.
  • Cultures remain the same over time periods.
  • Culture is the aggregate of goals, attitudes, values, and customs that are forgotten by the society.

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.

  • True
  • False

Personal integrity is the base for ethics.

  • True
  • False

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.

  • True
  • False

According to philanthropic model of corporate social responsibility, the social responsibility of business managers is to pursue profit with the law.

  • True
  • False

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?

  • a. Competitive
  • b. Financial
  • c. Social
  • d. Economical

Female have the right not to be sexually harassed, but male employees do not have this right because a man cannot be sexually harassed.

  • a. True
  • b. False

In the virtue framework, one tries to identify the negative character traits that might motivate people in a given situation.

  • False
  • True

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.

  • a. False
  • b. True

Ethically, tort law maintains that people owe others certain general duties only if it has been clearly and voluntarily stated.

  • a. False
  • b. True

Intelligent and good-hearted people all share the same values and hold similar opinions about which values should abound.

  • True
  • False

Integrity is an obligation, not a choice.

  • True
  • False

What is social responsibility?

  • a. A duty everyone has to peform so as to maintain a balance between the economy and the ecosystem
  • b. All of the answers are correct
  • c. A way of conducting business through balancing the behavior of a company with the expectations of society.
  • d. An ethical ideology that an organization or individual has an obligation to act to benefit society

In general, corporate governance refers to the rules, procedures or laws whereby businesses are regulated, oprated, and controlled.

  • False
  • True

Laws can never be morally wrong or unethical.

  • False
  • True

Employees make better decisions efficiently without a governing standard.

  • True
  • False

Utilitarianism was developed by Jeremy Bentham and John Stuart Mill in the 18th century.

  • False
  • True

Making sensible ethical choices does not require an understanding of ethical issues.

  • True
  • False

Which of the following stakeholders are interested in CSR?

  • a. Investors and special interest groups
  • b. Suppliers
  • c. All of the answers are correct
  • d. Customers and communities
  • e. Employees

In the Sarbanes-Oxley Act, Section 406 refers to codes of ethics for senior financial officers.

  • False
  • True

Due process does not mean that employees get to hold their jobs under any circumstance

  • False
  • True

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.

  • Section 201
  • Section 404
  • Section 307
  • Section 407

Negligence can be distinguished as a failure to practice reasonable care or ordinary caution that causes another to be harmed.

  • True
  • False

Cultural norms are the shared, approved, and incorporated structures of beliefs and practices that are handed down through generations and typify a cultural group.

  • False
  • True

There are circumstances in which buyers can be harmed by a product even when no negligence was involved.

  • a. False
  • b. True

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.

  • a. False
  • b. True

Maintaining social responsibility within an organization ensures the integrity of society and the environment are protected.

  • False
  • True

Which statement/s are characteristic of virtue ethics?

  • Even if a person is caring, empathetic, charitable, and sypathetic, the challenge of egoism is still a factor in his decision-making.
  • Virtue ethics is about describing people as good or bad.
  • Our character traits are easily modified, almost on a daily basis if we so choose.
  • Like Kantian ethical theory, virtue ethics requires that we disregard personal emotions and feelings.
  • All of the answers are correct
  • No correct answer

Only Managers are obliged to make decisions in the business environment every day.

  • True
  • False

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.

  • True
  • False

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.

  • True
  • False

Which of the following is NOT true about corporate governance?

  • It does not pertain to external elements such as clients, consumer groups, and government regulations.
  • It may pertain to internal elements established by the stockholders, officers, or constitution of a company.
  • It may pertain to external elem
  • Clear and applied corporate governance presents a structure that works for the advantage of all involved by ensuring that the company complies with accepted ethical standards, best practices, and formal laws.

Which of the following statements is decisive in determining whether or not to study business ethics?

  • Business and ethics simply do not mix. In the final analysis, self-interest represented by profit overrides the interests of employees, customers, and communities.
  • Business managers do not need to study ethics in order to know how to treat employees, shareowners, and customers.
  • Ethical concerns are as unavoidable in business as are concerns of marketing, accounting, finance, and human resources. Formal study of business ethics helps address these concers so that decisions od right and wrong may be made deliberately and conscientiously.
  • The answers to ethical questions are clear-cut enough; all business people already know right from wrong.

Reducing the number of employees on the operating payroll is called _____.

  • downsizing

Ethical decision-making seeks to benefit the company as a whole, instead of allowin just one individual gain from business decisions.

  • True
  • False

A company increases the possibility of high risk behavior when it is not fully supporting people.

  • a. False
  • b. True

COSO stands for The Committee of _____ Organizations of the Treadway Commission.

  • Sponsoring

Change blindness

  • results from focusing on failures
  • All answers are correct.
  • occurs when decision-makers fail to see gradual changes over time.
  • is a shortsightedness of values

Individuals who are shamed, bullied or discriminated against based on preconceived judgments of their appearance, disabilities, or lifestyles are victims of

  • Stigmatization

The _____ espouses that moral behavior generates the greatest good for the vast majority.

  • Utilitarian Approach

If an employee has different religious belief and practices from his employer, he can be rightly fired from his job.

  • a. False
  • b. True

The Rule of 7 states that for every individual you minus to a group beyond seven, decision effectiveness declines by 10 percent.

  • False
  • True

It emphasizes that human beings have basic rights and liberties that cannot be taken away by decision.

  • Fairness or Justice Approach
  • Rights Approach
  • Utilitarian Approach
  • Virtue Approach
  • Common Good

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.

  • True
  • False

_____ means that the government cannot take away the life, liberty, or property interest of a person without giving them notice and a fair hearing.

  • Due process

Which proposition correctly describes the concept of a right?

  • Rights protect the wants of a person.
  • There is really no distinction between the wants and interests of a person. Rights protect both.
  • Rights protect the interests of a person.
  • My rights never correspond to your duties and your duties never correspond to my rights.

Employers do not have a responsibility to their employees to protect them from discrimination and unfair treatment in the workplace.

  • a. False
  • b. True

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.

  • True
  • False

Managers are

  • responsible for advocating ethical standards in their own behaviors and decisions.
  • responsible for interacting with external stakeholders such as customers, local community, government officials, suppliers, or owners.
  • All of the answers are correct.
  • accountable for the ethical conduct of those who report to them.

_____ is a term that is usually used in the field of law that is known by lay people as negligence.

  • Torts

Which of the following is true about Ethical marketing?

  • It is more of a philosophy that informs all marketing efforts rather than a marketing strategy.
  • It pursues to promote honesty, fairness, and responsibility in all advertising values.
  • All of the answers are correct
  • It is a general set of guidelines to assist organizations as they evaluate new marketing strategies.
  • It is used by organizations as a way to establish trust among their customers by living up to the claims made in its advertising.

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.

  • True
  • False

For some employees, the loss of a ob due to downsizing can be a positive step that allows them to reinvent themselvs.

  • a. True
  • b. False

Shoring preference for selecting and/or promoting members of a demographic or minority group with a history of discrimination is called

  • AFFIRMATIVE ACTION

Building an ethical business environment happens in a day.

  • True
  • False

Unethical behavior is always against the law.

  • a. True
  • b. False

Organizations operating internationally have become exposed to a greater level of operational risk.

  • False
  • True

_____ alludes to the range of differences between people in a company.

  • Workplace Diversity

The approach of social responsibility is based on a system of ethics, in which decisions and actions must be ethically ratified before proceeding.

  • True
  • False

Sustainable or green marketing refers to circumstances where people are subject to directed commercial activity and are unaware of it.

  • False
  • True

Producers owe only those things promised to consumers in the sales agreement.

  • False
  • True

The _____ approach ocuses on the ideal characteristics required for promoting employees for the company.

  • virtue

For business owners, it is vital to speak and act in a trustworthy manner.

  • a. True
  • b. False

It results from focusing on failures.

  • Normative myopia
  • No correct answer
  • Change blindness
  • Inattentional blindness

_____ is logic that is used to direct action.

  • Practical Reason

The Sarbanes-Oxley act of 2006 decreed strict changes to improve financial disclosures from companies and impede accounting fraud.

  • False
  • True

Getting the facts is the first step to ethical decision-making.

  • True
  • False

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.

  • False
  • True

Which of the following does NOT contribute to the development of the standard of ethics of a manager?

  • a. Environmental situations
  • b. Individual life experiences
  • c. Competitor behaviors
  • d. The norms and values of society

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.

  • False
  • True

The _____ to ethics believes that ethical actions should be consistent with certain virtues that provide for the full development of humankind.

  • virtue approach

Rule utilitarianism is usually deemed as the most natural interpretation of the utilitarian ideal.

  • True
  • False

Ethics refers to

  • paradigms, attitudes and actions.
  • morals, values, principles and convictions.
  • religion and spiritual well-being.
  • standards of behavior that tell us how people should act in the many situations in which they find themselves.

Which of the following is an element that makes ethical behavior conducive within an organization?

  • a. All of the answers are correct
  • b. A written code of ethics and standards
  • c. Availability for advice on ethical situations
  • d. Systems for confidential reporting

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.

  • True
  • False

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.

  • True
  • False

Manipulation would be objected strongly by the principle-based tradition in ethics.

  • a. True
  • b. False

It generally asks the question: What effect will this act have in this situation on the general balance of good over evil?

  • Act Utilitarianism

Sustainable development involves conducting business in a way that protects the environment while making economic progress.

  • False
  • True

The virtue framework addresses the elements of individual characters and disposition which deepen one's humanity and engender one's relationships with other.

  • True
  • False

_____ 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.

  • Compensation Negligence

The legal obligations of a professional to act in the best interest of his clients is called _____.

  • FIDUCIARY DUTIES

Operating a business in an entirely ethical way builds a stronger bond between individuals in leadership positions that further creates stability within the company.

  • False
  • True

A document prepared to guide organization members when encountering ethical dilemmas is a(n)

  • a. code of conduct
  • b. code of ethics
  • c. list of rules and responsibilities
  • d. outline of expected behaviors

The Four Ps of marketing are product, purpose, price, and profit.

  • False
  • True

The right to due process often comes up when the government needs to take the property of someone for public use.

  • a. True
  • b. False

_____ It is discrimination against members of a dominant or majority group in favor of members of a minority or historically disadvantaged group.

  • reverse discrimination

BEcause people already know right from wrong, the study of business ethics is simply an unprofitable exercise.

  • False
  • True

_____ A principal factor of tort law, it concerns a kind of ethical neglect, particularly neglecting duty to practice reasonable care not to harm others.

  • Negligence

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.

  • False
  • True

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.

  • False
  • True

There are five types of ethical standards: utilitarian, rights, fairness or justice, common good, and virtue.

  • True
  • False

The more difficult the ethical choice we have to make, the more we need to avoid difficult people and situations.

  • True
  • False

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.

  • green

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.

  • True
  • False

_____ is the unjust treatment of employees based on prejudices.

  • Employment Discrimination

Even without marketing, a business may offer the best products or services in an industry.

  • a. True
  • b. False

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.

  • True
  • False

What is the definition of ethics?

  • Understanding right from wrong
  • Telling the truth most of the time
  • Set of guidance laws
  • Set of moral principles

Utilitarianism poses a relatively simple mode for determining the morally right course of action for any specific situation one may be in.

  • True
  • False

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.

  • False
  • True

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.

  • a. True
  • b. False

Under health and safety law, the principal responsibility for health and safety is down to employers.

  • a. True
  • b. False

Organizations can use ethical marketing as a way to establish trust among their customers by living up to the claims made in its advertising.

  • True
  • False

Most, if not all, businesses give importance to business ethics and usually include in it in the core values of the company.

  • False
  • True

It maintains that moral decisions must be based on standards of equity, fairness and impartiality.

  • The Virtue Approach
  • The Fairness Approach
  • The Common Good Approach
  • No correct answer

It is a crucial component of compliance-based ethics.

  • Transparency
  • Balance
  • Sarbanes-Oxley
  • No correct answer

Companies have a corporate social responsibility is about caring for the workers, giving back to the community, and being financially encironmentally, and socially responsible.

  • a. True
  • b. False

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.

  • False
  • True

The principle approach is the most familiar since most ethics education is based on principles.

  • True
  • False

A conflict of interest is a situation in which personal and/or financial considerations have the potential to influence or compromise professioanl judgment.

  • True
  • False

_____ It mainly poses the question: What effect would everyone doing this action have on the general balance of good over evil?

  • Rule utilitarianism

Employment security is about the protection of workers against vacillations in earned income as a result of job loss.

  • False
  • True

In the Character Approach, the judgment concered addresses both the morality and the consequences of an act.

  • False
  • True

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.

  • manipulate

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.

  • False
  • True

Laws can be morally wrong or unethical.

  • a. True
  • b. False

In the consequence approach, those who make decisions weigh several probable results and arrive at the decision likely to produce the best result.

  • False
  • True

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.

  • True
  • False

An individual who uses the Principle approach believes that an action or decision is right or wrong regardless of the consequences.

  • False
  • True

Fiduciary duties are the legal obligations of a professional to act in the best interest of his clients.

  • True
  • False

Which of the following is true about negligence?

  • a. It cannot be distinguished as a failure to practice care or caution that causes another to be harmed.
  • b. It involves both actions of commission and omission.
  • c. It is a principal factor of contract law.
  • d. It concerns a kind of ethical neglect, particularly neglecting duty to practice reasonable care not to harm others.

CSR stands for

  • Corporate Social Responsibility

Accept terms and conditions are usually done as a part of joining procedure.

  • a. True
  • b. False

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.

  • a. False
  • b. True

______ provide relevant insight for our ethical choices.

  • Feelings
  • Beliefs
  • Attitudes
  • Habits

Which of the following statements is TRUE?

  • a. Strong laws remove the need for organizations to invest in corporate social responsibility
  • b. The argument that businesses are part of society and therefore managers have a responsibility to behave in a responsible way is one most likely to result in ethical managerial behavior.
  • c. An effective strategic approach to ethical business is through the prioritizarion of an issue that is central to the needs of the organization
  • d. Ethical employees are prepared to work for lower pay in ethical companies.

A strong allure of the _____ is its cost-benefit aspect.

  • utilitarian approach

Which statement is an argument against corporate social responsibility?

  • CSR discourages government regulation
  • The reputation of a business is injured when it acts socially responsible
  • A business involved in social issues can lose its focus on operating as effectively as possible.
  • Society does not really expect business to be socially responsible

Moral dilemmas emerge when individuals or groups need to pick between contending values.

  • False
  • True

Which of the following is NOT an example of a philanthropic social responsibility initiative?

  • a. Providing grant money to an education institution
  • b. Painting a homeless shelter
  • c. Sponsoring a marathon runner for a fixed amount of money per mile
  • d. Issuing a donation for single mothers

Respondent superior is Latin for consumer rights.

  • False
  • True

It is the shortsightedness of values.

  • No correct answer
  • Change blindness
  • Inattentional blindness
  • Normative myopia

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.

  • False
  • True

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.

  • True
  • False

Acting and reflecting on the outcome is the last step to ethical decision-making.

  • True
  • False

Proprietors do not need to honor any commitments made to employees, customers or clients.

  • a. False
  • b. True

Torts is a term that is usually used in the field of law that is known by lay people as liability.

  • True
  • False

Which concerns does CSR address?

  • a. Social and Environmental
  • b. Moral and Ethical
  • c. Legal and Regular
  • d. Monetary and Profit

This provision in the Sarbanes-Oxley Act prohibits various forms of professional services that are determined to be consulting rather than auditing.

  • Section 406
  • Section 301
  • Section 404
  • Section 201

_____ 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.

  • AFFIRMATIVE

It occurs when decision-makers fail to see gradual changes over time.

  • No correct answer
  • Change blindness
  • Normative myopia
  • Inattetional blindness

Some traditions are relatively ethical, but others become corrupt or oblivious to certain ethical manners.

  • True
  • False

Business Code of Ethics defines acceptable behavior and promote high standards of practice.

  • True
  • False

A person who always makes use of the Character Approach will likely be considered dogmatic and hard to get along with.

  • a. True
  • b. False

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.

  • a. False
  • b. True

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.

  • True
  • False

An _____ is a legal connection that is formed between an employee and employer when work is completed for monetary remuneration.

  • employment relationship

The challenge of resolving moral approaches is intensifies by the problem that people have similar approaches to moral decision-making.

  • True
  • False

_____ refers in general to the rules, procedures, or laws whereby businesses are regulated, operated, and controlled.

  • Corporate Governance

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.

  • False
  • True

Ultimately, consumers and marketers are responsible for ethical and socially responsible behavior.

  • True
  • False

_____ are business professionals that enforce rule and attests to the fundamental fairness of the system.

  • Gatekeepers

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.

  • True
  • False

_____ is about the protection of workers against vacillations in earned income as a result of job loss.

  • Employment Security

Investors do not have to depend on auditors to objectively assess the financial statements of a company.

  • True
  • False

Inattentional blindness

  • occurs when decision-makers fail to see gradual changes over time.
  • results from focusing on failures.
  • All answers are correct.
  • is a shortsightedness of values

Which of the following is an example of a fiduciary relationship?

  • Trustee and Beneficiary
  • Broker and Client
  • All of the answers are correct
  • Attorney and Client

Bentham and Fraedrich illustrate two kinds of ethics programs, compliance and values-based.

  • True
  • False

Which of the following is TRUE about ethics?

  • Ethics and feelings are the same.
  • Ethics is not a religion.
  • Ethics means to follow the law.
  • Ethics requires pursuing traditionally accepted norms.

Which of the following reasons accounts for the dominance of utilitarianism among policy makers and administrators?

  • All of the answers are correct.
  • Policy experts at all levels are focused on results and getting things done.
  • Policy experts focus on the collective or aggregate good.
  • It seems obvious that policy questions should be judged by results
  • Efficiency is simply another word for maximizing happiness.
  • No correct answer

_____ It is a method by which a product or service is presented and promoted to possible customers.

  • Marketing

Liability can be defined as a failure to practice reasonable care or ordinary caution that causes another to be harmed.

  • a. False
  • b. True

There will be no parameters limiting what a person will or will not do if virtues did not exist.

  • False
  • True

The literal translation of _____ is let the buyer beware.

  • caveat emptor

Only the management is obliged to make decisions in the business environment every day.

  • True
  • False

It follows that if people neglect their duties, then other people’s rights may be neglected.

  • True
  • False

The heart of a business success does not depend on its marketing.

  • False
  • True

_____ It is a Greek word that literally means love of the fellow human.

  • Philanthropy

What people do value and what they should value are not necessarily the same.

  • True
  • False

Philosophical ethics distinguishes what people do value from what they should value.

  • True
  • False

A _____ is a situation in which personal and/or financial considerations have the potential to influence or compromise professional judgment.

  • conflict of interest

_____ is one that rules should be clearly stated and consistently and impartially enforced.

  • Procedural Justice

There is a vital relationship between integrity and ethics.

  • True
  • False

Some traditions are relatively ethical, but others become corrupt or oblivious to certain ethical matters.

  • True
  • False

_____ Are professions that enforce rules and attest to the fundamental fairness of the system. Examples of these are accountants, financial analysts, attorneys, and auditors.

  • gatekeepers

An _____ is a legal connection that is formed between an employee and employer when work is completed for monetary renumeration.

  • employment relationship

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.

  • False
  • True

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.

  • a. True
  • b. False

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.

  • True
  • False

______ espouses that moral behavior generates the greatest good for the vast majority.

  • The Rights Approach
  • The Utilitarian Approach
  • The Equality Approach
  • No correct answer

CSR is a _________ initiative

  • a. voluntary
  • b. government
  • c. community
  • d. enforced

Business ethics is an instrument organizations use to guarantee managers, directors, or executive officers act responsibly in different business situations.

  • True
  • False

Vital decisions are easy to make with many people. Different personalities interfere with reason and argument.

  • False
  • True

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.

  • principle

_____ It is the applied ethics discipline that focuses on the moral aspects concerning business activity.

  • Business Ethics

In this perspective, the principle of utility (do whatever will produce the best overall results) should be applied on a case by case basis.

  • Act utilitarianism
  • Virtue Approach
  • Rule utilitarianism
  • Character Approach

The literal translation of caveat emptor is

  • let the buyer beware

Work ethics are

  • based on trying to get work done on time.
  • based on working smart, not hard.
  • based on moral virtues of hard work.
  • based on working hard sometimes.

Which of the following is NOT true about corporate culture?

  • Some businesses project corporate culture as not static
  • No correct answer.
  • It shifts over time.
  • Corporate culture can be negative, neutral, or positive

The culture of a company is connected to the characteristics found in the surrounding environment, but it also has some traits that are unique.

  • False
  • True

_____ is a general set of guidelines to assist organizations as they evaluate new marketing strategies.

  • Ethical Marketing

Which statement/s are legitimate challenges to utilitarian ethical theory?

  • The end may justify the means.
  • There is no consensus among utilitarians on how to measure and determine the overall good.
  • It is difficult to know how to consider the consequences for all the parties that will be affected by an act.
  • It is difficult for the utilitarian to find balance between individual freedom and the overall good. The more utilitarians emphasize freedom the more likely they hold more relativistic accounts of the good.
  • No correct answer
  • All of the answers are correct

The Sarbanes-Oxley Act of 2002 was created by US senator Philip Sarbanes and US Representative Michelle Oxley.

  • a. True
  • b. False

Ethics does not only mean pursuing traditionally accepted norms.

  • a. True
  • b. False

Sarbanes-Oxley Act entails requirements for verification of the statements by officers.

  • a. False
  • b. True

The following account for the vast majority of poor decisions

  • All answers are correct
  • an idealistic search for silver-bullet solutions
  • failure to consider alternatives explicitly
  • to many people involved

_____ alludes to the range of similarities and differences between people in a company.

  • Workplace Diversity

Culture protrays the ethical and moral beliefs and standards that articulate how people should behave and interact with one another.

  • True
  • False

Freud and Fraedrich illustrate two kinds of ethics programs, compliance and values-based.

  • False
  • True

_____ It regards the moral judgments about right and wrong.

  • Ethics

_____ 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.

  • Just cause

When an organization shows concern for the people and environment in which it transacts business it is called ______

  • a. Environmental scanning
  • b. Social responsibility
  • c. Demographic benchmarking
  • d. Cause marketing

The social responsibilities of a management include all of the following except

  • a. Legal
  • b. Economic
  • c. Ethical
  • d. Caretaker

Emphasis that human being have basic rights and liberties that cannot be taken away by the decision of someone is the

  • moral rights approach

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?"

  • True
  • False

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.

  • a. False
  • b. True

_____ are the primary rights of people regardless of their race, sex, religion, political opinion, social status or any other characteristic.

  • human rights

Working for an organization does not require following an ethical framework when making decisions.

  • True
  • False

What are ethical theories?

  • Ethical theories give guidelines on how to achieve a good corporate image.
  • Ethical theories are conduct that should be followed in order to have good ethical practice.
  • Ethical theories are ancient hypotheses on how to create good business practice.
  • Ethical theories are the rules and principles that determine right and wrong for any given situation.

There is still a high risk of unethical behavior even when companies have great rules and procedures and obey the laws and regulatiions.

  • a. False
  • b. True

Normative myopia

  • is a shortsightedness of values.
  • All answers are correct
  • results from focusing on failures.
  • occurs when decision-makers fail to see gradual changes over time.

_____ is a strong predictor of human trafficking and may come in the form of bribery and usury fees paid by workers to recruitment agents.

  • corruption

Change blindness results from focusing on failures.

  • a. False
  • b. True

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?

  • a. No correct answer
  • b. All of the answers are correct
  • c. Social responsibility
  • d. Cause marketing
  • e. Environmental scanning
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