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Business Ethics
Q:
A company is of the view that what is best for its shareholders may not be best for its employees and the community. It also believes that the most efficient means to achieve increased profits is to close its factory and move production overseas, which is not agreed upon by its shareholders. This is an example of _____.
A. a disconfirmed expectancy
B. a conflict of interest
C. emotional contagion
D. social loafing
Q:
_____ is defined as a situation where one relationship or obligation places an individual or firm in direct dispute with an existing relationship or obligation.
A. Disconfirmed expectancy
B. Conflict of interest
C. Right of option
D. Moral hazard
Q:
For the accounting profession, the last resort for ethical guidance and leadership is the Code of Conduct issued by the _____.
A. International Association of Public Accountants
B. Certified Public Accountants Association
C. Accounting Institute of Ethical Conduct
D. American Institute of Certified Public Accountants
Q:
Which of the following represents a legal accounting practice?
A. Taking questionable deductions
B. Overvaluing assets
C. Deferring receipts from one quarter to the next to manage tax liability
D. Underreporting income to decrease the amount paid as taxes
Q:
The accounting profession is governed by a set of _____.
A. generally accepted accounting principles
B. laws for accounting
C. established legal precedents for accounting
D. universal ethics
Q:
The certification of an organization's financial statements or books, by an impartial third-party professional, as being accurate is offered by the _____.
A. auditing function
B. compliance function
C. accounting function
D. financial transactions function
Q:
The _____ keeps track of a company's financial transactions by documenting money coming in and money going out and balances the accounts at the end of the period.
A. auditing function
B. compliance function
C. accounting function
D. financial transactions function
Q:
An argument made by the advocates of ethical business conduct about the human resources department is that it should _____.
A. sideline issues related to ethics
B. ensure that ethics is given the least priority
C. not include an ethics component in the leadership selection process
D. not be the sole creator of the code
Q:
Walter's Inc., a cement manufacturing firm, fails to meet the deadline for delivering 500 kg of cement to QuickContruct Inc. The officer responsible for the distribution and sale at Walter Inc. bribes the officer at QuickContruct Inc. to alter the date of delivery in the original contract. Which of the following concepts is best illustrated in the above scenario?
A. Ethical dilemma
B. Social loafing
C. Ethical transgression
D. Utilitarianism
Q:
If an employee leaves a company, the _____ department should host an exit interview to ensure that anything the organization can learn from the employee's departure is fed back into the company's strategic plan for future growth and development.
A. research and development
B. marketing
C. finance
D. human resources
Q:
Ideally, the human resources function within an organization should be directly involved in:
A. the documentation of disciplinary behavior and remedial training, if needed.
B. the maintenance of the technology in the organizationdata transfer and security, e-mail communications, internal and external websites, and so on.
C. the marketing of the organization's products.
D. the incorporation of customer feedback from market research and competitive feedback from closely monitoring the competitors.
Q:
Which of the following is a human resources function within an organization?
A. Incorporation of customer feedback and competitive feedback
B. Maintenance of the technology in the organization
C. Marketing of the organization's products
D. Documentation of periodic performance reviews
Q:
Amanda heads the human resources department in Elenear Enterprises. The management has entrusted her with certain functions. Within the organization, Amanda should be directly involved in:
A. the marketing of the organization's products.
B. the maintenance of the technology in the organization.
C. the recruitment and selection of the right candidates for different positions.
D. the incorporation of customer feedback and competitive feedback.
Q:
The efficient management of providing payroll and benefits for happy and productive employees is looked after by the _____ department of an organization.
A. research and development
B. human resources
C. consumer relations
D. marketing
Q:
ThinkNow is an advertising firm based in Dallas, Texas. One of its departments is in charge of the hiring process and is responsible for the orientation of newly hired employees. Which of the following organizational areas does this department represent?
A. Finance
B. Human resources
C. Research and development
D. Information systems
Q:
The code of ethics adapted by the _____ speaks about doing no harm, fostering trust, and improving "customer confidence in the integrity of the marketing exchange system."
A. American Counseling Association (ACA)
B. Society for Marketing Resources
C. American Marketing Association (AMA)
D. Marketing Research Association (MRA)
Q:
Marketing professionals abide by a code of ethics adapted by the _____.
A. Society for Marketing Resources
B. American Marketing Association
C. American Ethics Association
D. Marketers' Ethics Resource Center
Q:
Actions placed within a strictly moral context instead of basing actions on the needs of a particular situation is termed _____.
A. pragmatic ethics
B. virtue ethics
C. normative ethics
D. universal ethics
Q:
Actions that are taken out of duty and obligation to a purely moral ideal, rather than based on the needs of the situation, are known as _____.
A. utilitarianism
B. virtue ethics
C. consequentialism
D. universal ethics
Q:
_____ is represented by ethical choices that offer the greatest good for the greatest number of people.
A. Deontology
B. Utilitarianism
C. Virtue ethics
D. State consequentialism
Q:
Which of the following statements is true of marketing?
A. The marketing process is responsible for ensuring that the product design meets all the required specifications.
B. Marketers see themselves as responsible for ensuring product quality.
C. Marketers see themselves as providing products (or services) to customers who have already expressed a need for and a desire to purchase those products.
D. The marketing process is responsible for ensuring that products gets manufactured within the stipulated period of time.
Q:
Exotic Crafts Inc., a handicraft manufacturing company, has an established marketing department responsible for various important functions. The marketing department is most likely engaged in _____.
A. managing individual hardware and software needs that are specific to the organization
B. ensuring that the products reach the hands of a satisfied customer
C. coordinating the recruitment, promotion, and remuneration of the employees
D. auditing and certifying the accuracy of the company's financial statements
Q:
Cathy heads the research and development (R&D) team of Anderson Enterprises. Which of the following R&D functions should Cathy and her team undertake to allow the organization capture and maintain a leading position in its market?
A. Cathy and her team should manage individual hardware and software needs that are specific to the organization and its line of business.
B. Cathy and her team should coordinate the recruitment, training, and development of personnel for all aspects of the organization.
C. Cathy and her team should certify the accuracy of the company's financial statements.
D. Cathy and her team should make a complex set of risk assessments and technical judgments in order to deliver a product design.
Q:
Brendon joins Almer Inc. as the head of the research and development (R&D) team. In order to allow Almer Inc. to capture and maintain a leading position in the market, Brendon should _____.
A. incorporate customer feedback from market research and competitive feedback from closely monitoring the organization's competition
B. coordinate the recruitment, training, and development of personnel for all aspects of the organization
C. audit and certify the accuracy of the company's financial statements
D. maintain the technological backbone of the organization
Q:
The research and development (R&D) department of an organization:
A. is solely responsible for creating employees' career development programs.
B. has a minute impact on the success of the organization.
C. carries the responsibility for the future growth of the organization.
D. is the most important department of the organization.
Q:
Which of the following statements is true of a company's value chain?
A. Marketing, sales, and customer service are the support activities.
B. The research and development department coordinates the recruitment of personnel for all aspects of the organization.
C. The marketing department sources the components and builds the product.
D. Supply chain management and operations are the primary activities.
Q:
_____ serves as a support line function to key functional areas in an organization's value chain.
A. Advertising
B. Supply chain management
C. Human resources management
D. Distribution
Q:
_____ serves as a support line function to key functional areas in an organization's value chain.
A. Technology
B. Manufacturing
C. Supply chain management
D. Distribution
Q:
In the context of the value chain of an organization, which of the following is a line function of an organization?
A. Marketing
B. Supply chain management
C. Distribution
D. Human resources management
Q:
In the context of the value chain of an organization, _____ is a support activity.
A. marketing
B. general administration
C. distribution
D. customer service
Q:
A primary activity of an organization according to the value chain is that of _____.
A. human resources management
B. recruitment and remuneration management
C. supply chain management
D. organizational development management
Q:
According to the value chain of an organization, which of the following is classified as a primary activity?
A. Human resources management
B. General administration
C. Systems development
D. Sales and marketing
Q:
A composition of the key functional inputs that an organization provides in the transformation of raw materials into a delivered product or service is termed _____.
A. value chain
B. cognitive work analysis
C. dynamic simulation
D. corporate governance
Q:
Identify a true statement about value chain.
A. It is inclusive of the values, beliefs, and norms shared by all the employees of an organization.
B. It represents the sum of all the policies and proceduresboth written and informalfrom each of the functional departments in an organization.
C. It is composed of the key functional inputs that an organization provides in the transformation of raw materials into a delivered product or service.
D. It helps coordinate with human resources in the recruitment, training, and development of personnel for all aspects of an organization.
Q:
Anderson Enterprises endorses low power distance which implies that the firm lays emphasis on a less consultative or democratic work structure. Subordinates work on important assignments and managers often socialize with them. Which of the following concepts is being reflected in the above scenario?
A. Ethical relativism
B. Value chain
C. Organizational culture
D. Corporate conscience
Q:
Which of the following statements is true of organizational culture?
A. Organizational culture represents only the written policies and procedures of an organization.
B. Organizational culture includes the values, beliefs, and norms shared by all employees of that organization.
C. Employees' personal value system is always in tune with the ethical standards of the organization's operating culture.
D. Stakeholders lack interest in the ethical performance of an organization.
Q:
Identify a true statement about a company's organizational culture.
A. It represents the sum of all the policies and procedures from each of the functional departments in the organization.
B. It is governed by a set of laws and legal precedents and is closed to interpretation.
C. It consists of suggestions established in an organization on how to make fraudulent practices look legal.
D. It refers to the characteristic of publicly committing to the highest professional standards and sticking to that commitment.
Q:
Profits are the main reason behind stretching the truth and bending the rules that have become a regular occurrence in a workplace.
Q:
Nonprofit organizations do not face problems with unethical behavior.
Q:
Selling a product that has the potential to be harmful to a firm's customers represents a significant conflict of interest.
Q:
A situation in which one relationship or obligation places an individual or firm in direct conflict with an existing relationship or obligation refers to a conflict of interest.
Q:
The obligation that an auditing firm has to a paying client while owing an objective, third-party assessment of that client's financial stability to stakeholders and potential investors represents a potentially significant conflict of interest.
Q:
When a company's financial statements have been certified by an objective third-party to be "clean," that certification is meant to be for the public's benefit rather than the company's benefit.
Q:
Describe the four commonly held rationalizations, identified by Saul Gellerman, which can lead to misconduct.
Q:
What are the three principles available to resolve an ethical dilemma? Are they always successful?
Q:
Discuss five major changes that have taken place in the business environment over the last five decades.
Q:
What function does an organization's code of ethics perform?
Q:
What are the perspectives from which business ethics can be approached?
Q:
Companies that rely on the deterrents of _____ and _____ make headway in discouraging unethical behavior.
Q:
Utilizing the _____ principle to resolve an ethical dilemma involves considering what would happen if everybody made the same decision as you.
Q:
Utilizing the _____ principle to resolve an ethical dilemma involves considering which decision would provide the greatest good for the greatest number of people.
Q:
A situation in which there is no obvious right or wrong decision, but rather a right or right answer, is an _____.
Q:
The 2002 _____ has introduced greater accountability for chief executive officers and boards of directors in signing off on the financial performance records of the organizations they represent.
Q:
Codes of ethics have matured from cosmetic public relations documents into _____ documents that an increasing number of organizations are now committing to share with all their stakeholders.
Q:
Corporate ethics has moved from the domain of legal and human resource departments into the _____ with the appointment of corporate ethics officers with clear mandates.
Q:
The issue of corporate social responsibility has advanced from an abstract debate to a core _____ issue with clearly established legal liabilities in the last five decades.
Q:
As a message to its stakeholders, an organization's _____ should represent a clear corporate commitment to the highest standards of ethical behavior.
Q:
A company's _____ should clarify its cornerstonesits mission, values, and principlesto its managers, employees, and stakeholders.
Q:
A _____ is a company's written standards of ethical behavior that are designed to guide managers and employees in making the decisions and choices they face every day.
Q:
According to the _____ (ERC), a company's code of ethics should be a central guide to support day-to-day decision making at work.
Q:
The system by which business corporations are directed and controlled is termed _____.
Q:
The standard of _____ is the extent to which the officers of a corporation are fulfilling the duties and responsibilities of their offices to the relevant stakeholders.
Q:
Creditors, vendors, customers, suppliers, and wholesalers are all examples of an organization's _____.
Q:
In the context of business ethics, a _____ perspective recommends what should be happening in a business environment.
Q:
In the context of business ethics, a _____ perspective is the evaluation of the degree to which the observed customs, attitudes, and rules within a business can be said to be ethical.
Q:
In the context of business ethics, a _____ perspective simply documents what is happening in a business environment.
Q:
In the context of business ethics, a _____ perspective is a summation of the customs, attitudes, and rules that are observed within a business.
Q:
_____ is the application of ethical standards to business behavior.
Q:
Resolution of an ethical dilemma can be achieved by first _____.
A. selecting between conflicting values that are important to one as an employee
B. coming up with ways to justify unethical behavior
C. recognizing the type of conflict one is dealing with
D. seeking help from one's employer to deal with the rising contention
Q:
When employees observe unethical behavior or are asked to do something that conflicts with their own personal values, one of the clichd guidelines available to them is to _____.
A. ignore the matter completely
B. think about what's right for them instead of the organization
C. divulge into illegal deeds to help their company
D. consult the company code of ethics
Q:
In the context of the history of business ethics, identify a dramatic change that has taken place in the business environment over the past five decades.
A. The increased presence of an employee voice has made employees feel more comfortable speaking out against actions of their employers that they feel to be irresponsible.
B. The issue of corporate social responsibility has advanced from a core performance-assessment issue with clearly established legal liabilities to an abstract debate.
C. Corporate ethics has moved from the domain of finance and marketing departments into the human resource department.
D. Very few number of organizations are willing to commit to sharing their resources with all their stakeholders.
Q:
As a message to an organization's stakeholders, _____ should represent a clear corporate commitment to the highest standards of principled behavior.
A. a charter of compassion
B. corporate governance
C. a code of ethics
D. cuneiform law
Q:
The _____ defines a code of ethics as a central guide to support day-to-day decision making at work.
A. Ethics Resource Center (ERC)
B. Better Business Bureau (BBB)
C. Ethical Remuneration Community (ERC)
D. Research Ethics Board (REB)
Q:
One way through which companies reduce unethical behavior in their employees is by _____.
A. disciplining unethical behavior in front of their boards of directors
B. creating and maintaining a corporate culture of trust
C. giving their CEOs more power than their boards of directors
D. paying low attention to audits and spot checks
Q:
The belief that an activity is safe because it will never be found out is a common rationalization behind an employee's unethical conduct. To deter unethical behavior based on this rationalization, a manager should _____.
A. protect the identity of the personnel involved
B. announce the misconduct publicly
C. let go of first-time offenders
D. reprimand such an employee in public
Q:
How can companies discourage unethical behavior in their employees?
A. By disciplining repeat offenders in private
B. By conducting regular audits and random spot checks
C. By not adopting a formal code of ethics
D. By not giving their board of directors more power than the CEOs
Q:
Which of the following is true of the three principles for resolving an ethical dilemma?
A. They predict the behavior of other people involved in a particular situation.
B. They do not offer a perfect solution or resolution for every situation.
C. They need to be applied simultaneously in order to be effective.
D. They can only be applied to situations involving personal issues.
Q:
The principle for resolving an ethical dilemma that considers "do unto others as you would have them do unto you" is the _____.
A. Golden Rule
B. rules-based approach
C. formative approach
D. egocentric rule
Q:
The principle for resolving an ethical dilemma in which one considers the question of what would happen if everyone made the same decision as him or her is termed _____ principle.
A. rules-based
B. ends-based
C. categorical imperative
D. moral syncretism
Q:
The _____ approach for resolving an ethical dilemma considers which decision would provide the greatest good for the greatest number of people.
A. ends-based
B. rules-based
C. Golden Rule
D. Volcker's Rule