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Business Ethics
Q:
A situation in which there is no obvious right or wrong decision, but rather a right or right answer, is termed _____.
A. status paradox
B. absence paradox
C. discursive dilemma
D. ethical dilemma
Q:
The _____ of 2002 introduced greater accountability for chief executive officers and boards of directors in signing off on the financial performance records of the organizations they represent.
A. Comstock Act
B. Federal Corrupt Practices Act
C. Sarbanes-Oxley Act
D. National Banking Act
Q:
Over the last five decades, codes of ethics:
A. have matured from performance-measurement documents into cosmetic public relations documents.
B. have been adopted by a decreasing number of corporations because employees and managers no longer need guidance.
C. have been adopted by an increasing number of organizations who share them with all their stakeholders.
D. have relieved chief executive officers from the control mechanisms used by boards of directors.
Q:
Over the last five decades, codes of ethics have matured from cosmetic public relations documents into _____ documents.
A. profit-oriented
B. financial-assessment
C. performance-measurement
D. expenditure-maximization
Q:
Which of the following is true of corporate ethics?
A. It has advanced from a core performance-assessment issue to an abstract debate.
B. It does not require the senior executives of a company to be accountable to stakeholders.
C. It does not deal with performance measurement, but with cosmetic public relations.
D. It has moved from the domain of legal departments into the organizational mainstream.
Q:
Over the last five decades, corporate ethics has moved from the domain of human resource departments into the _____.
A. legal department
B. finance and accounting department
C. talent management portfolio
D. organizational mainstream
Q:
One of the changes that have occurred in a business environment over the last five decades is that _____.
A. a code of ethics has developed from a quality-measurement document to a document related to human resources
B. a company no longer requires senior executives to be accountable to the board of directors and their stakeholders
C. corporate ethics has moved from the organizational mainstream into the domain of legal and human resource departments
D. corporate social responsibility has advanced from an abstract debate to a core performance-assessment issue
Q:
Over the last five decades, the issue of corporate social responsibility has advanced from an abstract debate to a core _____ issue with clearly established legal liabilities.
A. performance-assessment
B. profit-oriented
C. internal-relations
D. profit-minimization
Q:
As an internal document, a code of ethics should represent a clear guide to _____ for making good decisions and choices.
A. managers and employees
B. competitors and consumers
C. stockholders and shareholders
D. retailers and wholesalers
Q:
Which of the following statements is true of codes of ethics?
A. Fewer small businesses adopt a formal code of ethics now than they did in the past.
B. The codes are structured to empower employees to make effective decisions confidently.
C. The codes prescribe appropriate courses of action for every business situation in detail.
D. Fewer international organizations adopt a formal code of ethics now than they did in the past.
Q:
Which of the following functions does a code of ethics perform?
A. It clarifies an organization's cornerstones to its employees, managers, and stakeholders.
B. It allows the board members of an organization to be accountable only to themselves.
C. It allows chief executive officers unrestrained power in the decision-making process.
D. It works with the standards of corporate governance to limit employees' independence.
Q:
A(n) _____ is defined as a central guide that supports day-to-day decision making at work.
A. business matrix
B. code of ethics
C. internal channel
D. external channel
Q:
The main function of a code of ethics is to _____.
A. encourage managers and employees to make unsupervised decisions
B. guide managers and employees in making sound decisions and choices every day
C. liberate chief executive officers from any constraints placed by boards of directors
D. decrease the independence of boards of directors and increases the power of investors
Q:
The term "business ethics" is sometimes considered an oxymoron because:
A. small, new businesses tend to be less honest than large, established businesses.
B. the recent spate of financial scandals portrays organizations as fundamentally unethical.
C. the standard of corporate governance has been at its highest level in the last decade.
D. local businesses tend to have fewer accounting scandals than international businesses.
Q:
Which of the following is true of the standard of corporate governance?
A. It is a set of guidelines that has been universally adopted by all business organizations.
B. It does not ensure that an organization's officers fulfill their obligations to the stakeholders.
C. It focuses on establishing a leadership pipeline for an organization.
D. It appears to be at its lowest level in recent business history.
Q:
A feature of the standard of corporate governance is that it _____.
A. ensures that certain select corporations are allowed to monitor the ethical conduct of government officials
B. plays no role in determining the impact of fraudulent policies
C. ensures that officers of an organization fulfill their obligations to their stakeholders
D. plays no role in regulating the ethical behavior of employees in an organization
Q:
Which of the following is true of corporate governance?
A. It plays no role in enforcing ethical behavior in a workplace.
B. It is the process by which a government nationalizes corporations.
C. It is the system by which business corporations are directed and controlled.
D. It is the entity responsible for the execution of a company's corporate social responsibility policy.
Q:
The system that directs and controls business organizations is termed _____.
A. business ethics
B. organizational culture
C. retail optimization
D. corporate governance
Q:
GeoTransmit, a large multinational telecommunications company, hid from its investors the extensive debt and losses it had accumulated. Its fraudulent accounting behavior was eventually discovered, and the company went bankrupt. Which of the following statements is true of the future of GeoTransmit and its stakeholders?
A. The different stakeholders of GeoTransmit will be affected in different ways.
B. The decision of GeoTransmit to hide its losses from its investors will not have any impact on its market value.
C. The stakeholders of GeoTransmit will not be affected by its fraudulent practices.
D. The decision of GeoTransmit to hide its losses from its investors is considered to be ethical.
Q:
Which of the following is true of stakeholders?
A. Not every stakeholder is relevant in every business situation.
B. The stakeholders of an organization are not affected by its unethical behavior.
C. The cancellation of an organization's dividends has no impact upon stakeholders.
D. Creditors are not considered the stakeholders of an organization.
Q:
A _____ is defined as someone with a share or interest in a business enterprise.
A. stakeholder
B. moderator
C. mediator
D. crossholder
Q:
Which of the following is true of business ethics?
A. The descriptive dimension of business ethics evaluates the degree to which the observed customs, attitudes, and rules within a business are ethical.
B. Business ethics should ideally not reflect the ethical concepts of the society within which an organization functions.
C. The normative dimension of business ethics is a summation of the customs, attitudes, and rules that are observed within a business.
D. Business ethics should not be applied as a separate set of moral standards or ethical concepts from general ethics.
Q:
A perspective of business ethics that involves recommending what should be happening in a business situation is termed _____ perspective.
A. delineative
B. evasive
C. substantive
D. normative
Q:
A perspective of business ethics that is a simple documentation of what is happening in a business situation is termed _____ perspective.
A. arbitrative
B. meditative
C. prescriptive
D. descriptive
Q:
In the context of business ethics, a _____ perspective evaluates the degree to which the observed customs, attitudes, and rules within a business can be considered ethical.
A. subjective
B. prohibitive
C. normative
D. constitutive
Q:
In the context of business ethics, the _____ perspective is a summation of the customs, attitudes, and rules that are observed within a business.
A. descriptive
B. normative
C. preventative
D. prescriptive
Q:
Which of the following statements best describes business ethics?
A. It involves applying ethical and moral standards to business behavior.
B. It should be applied as a separate set of moral standards from general ethics.
C. It deals exclusively with the ethical behavior of creditors and shareholders.
D. It can by understood from two perspectivesconsequentialism and constitutivism.
Q:
_____ is the application of standards of moral behavior to business situations.
A. Business structuralism
B. Business contingence
C. Business ethics
D. Business sourcing
Q:
The belief that an activity is safe because it will never be found out or publicized is one of the commonly held rationalizations, identified by Saul Gellerman, which can lead to unethical behavior.
Q:
The notion that anything which isn't specifically labeled as wrong must be OK encourages ethical actions in employees prone to unethical behavior.
Q:
The ethicalness of an action is determined by the number of people who take the action.
Q:
The three principles by which ethical dilemmas are resolved are successful in all situations.
Q:
When trying to resolve an ethical dilemma, the Golden Rule principle considers only the legal aspects of the problem.
Q:
Utilizing the rules-based principle to resolve an ethical dilemma necessitates considering which decision would provide the greatest good for the greatest number of people.
Q:
Utilizing the ends-based principle to resolve an ethical dilemma necessitates focusing solely on the decisions that other people in one's situation would arrive at.
Q:
Once the type of a particular ethical conflict has been determined, there are two principles through which it can be resolved: Volcker's Rule and Campbell's Rule.
Q:
International ethics centers that serve the needs of global businesses were formed in the 1960s.
Q:
A major ethical dilemma of the 2000s is the employee versus management mentality.
Q:
The 2002 Sarbanes-Oxley Act 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 performance-measurement documents into cosmetic public relations documents.
Q:
Over the last five decades, corporate ethics has shifted from the organizational mainstream into the domain of legal and human resource departments.
Q:
The issue of corporate social responsibility has advanced from an abstract debate to a core performance-assessment issue with clearly established legal liabilities.
Q:
An organization's code of ethics does not pertain to the everyday functioning of its managers and employees.
Q:
An organization's code of ethics has no relevance to its employees.
Q:
An organization's code of ethics has no relevance to its stakeholders.
Q:
As a message to its stakeholders, an organization's code of ethics should represent a clear corporate commitment to the highest standards of ethical behavior.
Q:
According to the Ethics Resource Center, a good code of ethics is structured to liberate and empower people to make more effective decisions with greater confidence.
Q:
The Ethics Resource Center states that a code of ethics should help managers, employees, and stakeholders understand how an organization's cornerstones translate into everyday decisions, behaviors, and actions.
Q:
According to the Ethics Resource Center, an organization's cornerstones include its missions, values, and principles.
Q:
The Ethical Remuneration Community defines a code of ethics as a central guide to support day-to-day decision making at work.
Q:
A company's code of ethics comprises written standards of moral behavior that are designed to guide managers and employees in making the decisions and choices they face every day.
Q:
A positive outcome of the awareness generated by unethical behavior in the business world has been increased attention to the need for third-party guarantees of ethical conduct and active commitments from the rest of the business world.
Q:
An oxymoron is the combination of two facts that mirror and support each other.
Q:
The standard of corporate governance appears to be at the highest level in recent business history.
Q:
The standard of corporate governance is the extent to which the officers of an organization are fulfilling the duties and responsibilities of their offices to the relevant stakeholders.
Q:
Corporate governance is the system by which businesses are directed and controlled.
Q:
Unethical corporate behavior would have no negative impact on a community if it were to lead to an economic decline.
Q:
Unethical corporate behavior does not have any impact on a company's stakeholders.
Q:
The interests of the creditors of an organization focus specifically on the employment of local residents and the safety of the work environment.
Q:
The interests of wholesalers in an organization include accurate deliveries of quality products on time and at a reasonable cost.
Q:
Stakeholders include stockholders, employees, and the federal government.
Q:
Not every stakeholder will be relevant in every business situation.
Q:
A stakeholder is someone with a share or interest in a business enterprise.
Q:
Ethical behavior should not be the same inside and outside a business situation.
Q:
Business ethics should be applied as a separate set of moral standards or ethical concepts from general ethics.
Q:
Business ethics can be approached from two distinct perspectives: prohibitive and preventative.
Q:
Business ethics involves the application of standards of moral behavior to business situations.
Q:
What is implied by the idea of ethical relativism?
Q:
Discuss at least one weakness of each of the ethical theories.
Q:
Name and discuss the three categories of ethical theories.
Q:
Differentiate between intrinsic and instrumental value.
Q:
How do people arrive at the definition of what's right or wrong?
Q:
At the _____ stage of moral development, a person is focused on individual rights and the development of standards based on critical examination.
Q:
Kohlberg's framework offers us a clearer view into the process of ethical _____.
Q:
The final step in the three-step process for solving an ethical problem is to _____.
Q:
The first step in the three-step process for solving an ethical problem is to _____.
Q:
An _____ is a situation in which there is no obvious "right" or "wrong" decision, but rather a "right" or "right" answer.
Q:
The idea of _____ implies some degree of flexibility as opposed to strict black-and-white rules.
Q:
Originally attributed to a German philosopher named Immanuel Kant, _____ argues that there are certain and universal principles that should apply to all ethical judgments.
Q:
Ethical choices that offer the greatest good for the greatest number of people refer to the ethical approach, proposed by David Hume, known as _____.