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Business Law
Q:
In most states, a jury's decision must be unanimous. What is the rationale behind such a requirement?
Q:
Describe the functions and capacities that a lawyer serves in the legal system.
Q:
Even with a code of ethics, why is it important for top management in a corporation to set an example for ethical conduct?
Q:
What is meant by stakeholder theory and who are the stakeholders of a corporation?
Q:
What were the four observations made by the Spanish journal, Boletin Circulo, about business ethics?
Q:
Why should businesses promote openness in communication?
Q:
Do you think it is practical to live by the categorical imperative in a corporate world? What problems could arise by applying this philosophy in a business perspective?
Q:
Achieving and maintaining an ethical business corporation is a laudable but difficult task. What are some of the obstacles that a corporation faces, by its very nature, in seeking an ethical culture?
Q:
Trevor works at Trevsinc, a company that has been buying from Stigg Corp for years. Stigg Corp., a private corporation, has been doing very well recently, and will soon go public, selling its stock on the open market. As appreciation for his years of loyal service, Stigg Corp. offers Trevor the option of buying a large block of stock at a low fixed price before the initial public offering. However, over the last few months, Trevor has been concerned that the management of Stigg Corp. may not be acting ethically, and that the success may be because of the management's risky actions. What ethical issues must Trevor consider?
Q:
What are the purposes of permitting self-regulation, and what potential issues may arise from letting certain industries police themselves?
Q:
When facing an ethical dilemma, what questions should you ask yourself before making a personal or business decision?
Questions to ask: 1) Have I thought about whether the action I may take is right or wrong? 2) Will I be proud to tell of my action to my family, employer, or news media? 3) Am I willing for everyone to act as I am thinking of acting? 4) Will my decision cause harm to others or to the environment? 5) Will my actions violate the law?
Q:
Peter is an 84-year-old with a heart condition. He has no family and minimal health insurance. He is on a fixed income and barely has enough money to survive. His doctor tells him that he needs to take a particular medicine for three months or his condition will severely worsen. The medicine will cost $450 and only $150 of the cost is covered by insurance. Peter goes to the bank and hands the teller a note saying, "Give me $300.00 or I'll detonate a bomb." When Peter is later apprehended, he told the police that he stole the money to buy needed medicine. Understanding that bank robbery is a crime, is there an ethical theory that can serve to justify Peter's actions?
Q:
Of the two main systems of ethics, which do you think is better for a corporate philosophy? Compare the two giving examples of each and potential problems.
Q:
How could a utilitarian argue for the view that the tobacco industry is a positive part of society?
Q:
What roles do regulations serve in promoting or frustrating ethical decisions in the business world? Do you think there should be more or less regulations on business?
Q:
Is the concept of due care a formalist or consequentialist concept? What are the difficulties in applying this to business actions?
Q:
What potential problems arise from the modern corporate structure and its dependence on separation of the managers from the owners?
Q:
Civil rights leaders in their quest to promote civil rights and equality often held peaceful marches and non-violent sit-ins that they understood to be at times illegal. Their justification for their actions was to promote and give focus to inequities with the ultimate aim of reducing discrimination and establishing equal rights for all. Were these leaders acting ethically? Fully explain your answer citing the ethical theory you believe to apply.
Q:
Placing himself behind a wall of self-ignorance, Rawls proposed what ethical principles?
Q:
Supporters of private property contend that adequate property in resources maximizes _____.
A. gender equality.
B. total resources for each individual.
C. religious devotion.
D. total wealth in society.
E. communal fairness.
Q:
The poor may benefit from a private property system more than the rich because private property systems promote _____.
A. diversification of financial obligations.
B. protections of all citizens' resources.
C. accumulation of wealth.
D. unethical conduct.
E. gender equality.
Q:
What is created through the morality of property, or the legal right to exclude others from the resources one has or acquires?
A. A veil of ignorance
B. A categorical imperative
C. An economic interdependence
D. A field of protection
E. An exclusive private sphere
Q:
How does the 2008 economic recession illustrate the potential problems of economic interdependence?
Q:
How would a formalist and a consequentialist view an employer secretly monitoring an employee's e-mail messages?
Q:
Which of the following is a national group of senior business leaders that has identified a general list of topics that organizational codes of business ethics should cover?
A. The Corporate Deciders
B. The Business Roundtable
C. National Business Ethics Survey
D. The Board of Review
E. The Springfield Armory
Q:
Hannah Arendt believed that immoral behavior was often the result of:
A. apathy.
B. ignorance.
C. thoughtlessness.
D. boredom.
E. anger.
Q:
Plato wrote that immoral behavior often flows from _____.
A. apathy
B. ignorance
C. thoughtlessness
D. boredom
E. anger
Q:
Stakeholder theory suggests that ethical corporate behavior:
A. strongly relies on government interaction.
B. focuses on whether corporate actions take the interests of all employees into account before making significant business decisions.
C. depends on managers who recognize and take into account the various people whose interests the corporation impacts.
D. takes unacceptable risks only when the risk has a reasonable likelihood of enriching the stakeholders net worth substantially.
E. requires interaction between managers and customers to promote profit sharing.
Q:
Which of the following is credited with this expression: "[T]he theory of the Communists may be summed up in a single sentence: Abolition of private property."
A. Bertrand A. Russell
B. Karl Marx
C. Samuel Adams
D. Justice Potter Stewart
E. Albert Camus
Q:
Opponents of the Civil Rights Act of 1964, in an attempt to prevent its passing, inserted a prohibition against _____ discrimination in employment, thinking that such discrimination was acceptable and that many others agreed with them.
A. age
B. religious
C. sex
D. race
E. ethnic
Q:
Which of the following is NOT an ethical rule of legal regulation?
A. Respect for the liberty and rights of others
B. Exercising due care
C. You are your brother's keeper
D. Acting in good faith
E. Avoiding conflicts of interest
Q:
Who, among the following, does not have a duty of confidentiality?
A. An attorney
B. A real estate broker
C. A physician
D. A mechanic
E. A certified public accountant
Q:
In which of the following situations is there a conflict of interest?
A. A judge who occasionally shops in a store that is involved in a case before the same judge.
B. A real estate agent representing the buyer and seller of a house with permission from the buyer and seller.
C. An agent working for a competitor of the agent's principal.
D. A bank regulator using a credit union.
E. A lawyer discussing a case with his or her boss.
Q:
Since the primary goal of business is to make a profit, this orientation mainly involves:
A. deontology.
B. formalism.
C. consequentialism.
D. absence of ethics.
E. Darwinism.
Q:
Business ethics reflects elements of:
A. formalism only.
B. consequentialism only.
C. both fundamentalism and consequentialism with a focus on formalism.
D. both fundamentalism and consequentialism with a focus on consequentialism.
E. neither formalism nor consequentialism.
Q:
The Protestant ethic is rooted in:
A. utilitarianism.
B. consequentialism.
C. relativism.
D. formalism.
E. epistemology.
Q:
According to sociologist Robert Jackall's view of the modern bureaucratic managerial system, how has the Protestant ethic changed over time?
A. The Protestant ethic has become the only viable ethical system for American corporations.
B. The profiteering of the Protestant ethic became a justification for economic excess.
C. The religious consequentialism of the Protestant ethic became the dominant system of formalistic morality.
D. The Protestant ethic collapsed as a viable ethical system.
E. The religious formalism of the Protestant ethic has become a type of utilitarian consequentialism.
Q:
Making ethical or moral decisions to promote the common good is a significant principle of ethical _____.
A. existentialism
B. daoism
C. utilitarianism
D. self-promotion
E. fundamentalism
Q:
The dominant form of consequentialism is:
A. utilitarianism.
B. social contract theory.
C. the categorical imperative.
D. the Protestant ethic.
E. Marxism.
Q:
The values-based management approach to business ethics illustrates consequentialism through its emphasis on:
A. teaching ethical values to management and supervisory personnel that enhances the profitability of the company.
B. teaching ethical values to all employees that enhance the profitability of the company.
C. teaching ethical values to management and supervisory personnel with the aim of avoiding ethical issues whether profitability is affected or not.
D. teaching ethical values to all employees with the aim of avoiding ethical issues whether profitability is affected or not.
E. teaching ethical values to employees in order to punish them for unethical conduct.
Q:
According to Rawls, it is important to forget our own age, gender, race, intelligence, strength, wealth, or social status when determining just actions. What is the purpose of this?
A. This permits us to act as pure American citizens.
B. It keeps us from being self-interested in the ethical values we consider.
C. This makes each individual like a blank sheet of paper on which a contract may be written.
D. It makes it easier to consider the usefulness of our actions.
E. This promotes the assumption that what one personally needs or wants is morally correct.
Q:
The "veil of ignorance" means that to think ethically you must:
A. lose the assumption that what you personally want or need is necessarily morally correct.
B. recognize that one cannot make valid ethical decisions unless they are totally unaware of the other parties involved so as to eliminate bias.
C. recognize that one cannot make valid ethical decisions unless they are totally unaware of the circumstances leading to the ethical dilemma so as not to be influenced by unchangeable history.
D. put yourself in the position of those affected by your decision and act as you would want them to act.
E. make every ethical decision as if you did not have any education in ethical or moral history.
Q:
The _____ emphasizes consistency and compels a person to act as he believes everyone should act.
A. formalist theory
B. deontological imperative
C. categorical imperative
D. contractualist approach
E. relativistic approach
Q:
Who developed the theory of the categorical imperative?
A. Socrates
B. Plato
C. John Rawls
D. Immanuel Kant
E. Charles Darwin
Q:
For Immanuel Kant, to be ethical requires that a person act:
A. only under coercion.
B. only to benefit himself.
C. out of a sense of duty.
D. with a good intent.
E. without the influence of others.
Q:
Who developed the social contract theory?
A. John Rawls
B. Immanuel Kant
C. John Locke
D. Jack Sheppard
E. Plato
Q:
The social contract theory concerns itself with how to construct a just society given:
A. the many inequalities of wealth, knowledge, and social status.
B. the difficulty of acting toward others as you would have them act toward you.
C. the many logical fallacies contained in legal contracts.
D. the implicit agreement that the powerful are best suited to govern.
E. the inherent nature of those in a society to argue and reject consensus.
Q:
Which of the following provides the best definition of ethics?
A. Ethics is a formal system for evaluating who profits in a business transaction.
B. Ethics is merely a different term for the laws and regulations created by a government.
C. Ethics is merely another word for morality, which is only involved in what is right and what is wrong.
D. Ethics is a simplified term given to the momentary decisions we all make regarding which answer will lead each person to the most personally successful solution.
E. Ethics is a formal system for deciding what is right and wrong and for justifying moral decisions.
Q:
Which is the best definition of "the good", as defined by philosophers?
A. Increasing profit margins on a quarterly basis.
B. The moral goals and objectives we choose to pursue.
C. The acquisition of all of the things necessary for having a good life.
D. Whatever makes an individual happy.
E. Eating meat and consuming alcohol.
Q:
Mike is driving 15 miles over the posted speed limit when he is pulled over by Tom, a local police officer. As Tom approaches the car, he hears Kathy in the front seat moaning in pain. Mike tells Tom that Kathy is in labor and that he is rushing to the hospital. Tom issues Mike a speeding ticket, nevertheless. Tom's ethical approach in this matter most closely matches:
A. utilitarianism.
B. relativism.
C. the Protestant ethic
D. formalism.
E. hedonism.
Q:
Ethical formalists maintain that:
A. harm to an individual is allowable as long as it serves a greater good.
B. values are situational and change based on circumstance.
C. harm to individual rights is never justified by an increase in organizational or common good.
D. the good of the many always supersedes the good of the few.
E. right and wrong are unknowable.
Q:
Because property is a legal system created to focus on individual ownership, it contains no issues of morality.
Q:
To harm others' safety and health, freedom of choice, or liberty of movement is to infringe their right of property.
Q:
A major concern of those who criticize property is the power over others conveyed by the possession of great capital resources.
Q:
The Wealth of Nations was written by _____.
A. Adam Smith
B. Karl Marx
C. Emmanuel Kant
D. Euripides
E. Socrates
Q:
Federal law and business leaders alike favor _____ as a means of governing private business ethics.
A. creating uniform statutes of business ethics
B. self-regulation by companies
C. giving the federal government exclusive jurisdiction regarding ethics and ethics violation enforcement
D. establishment of federal regulators in all private companies to establish and enforce ethical standards
E. case-by-case determinations of what constitutes a breach of business ethics
Q:
Profits and business ethics are not contradictory.
Q:
Those who argue that a system of property ownership is ethically moral do so by appealing to strict formalism, arguing that the morality of property rights should be determined on an individual basis.
Q:
A business that does not act ethically severs itself from society, from the good, and ultimately from its own source of support.
Q:
Courts often use a balancing test when examining whether a party acted with due care in negligence cases.
Q:
The legal requirement of honoring confidentiality contains both formalist and consequentialist ethical values.
Q:
There is no way to create enough rules to cover all possible ethically significant situations, even if they could be identified in advance.
Q:
Ambrose Bierce posited that individuals in large groups such as corporations feel more responsibility and accountability for what happens in the group than they do for what happens in their individual lives.
Q:
Of the world's 100 largest economies, 49 of them are countries and 51 are companies.
Q:
The Protestant ethic proved to be a great influence on modern capitalism, but its focus on absolute moral values was replaced by a focus on wealth and mass consumption.
Q:
A formalist would conclude that a business's secret monitoring of employees is ethical if the monitoring reveals a significant number of crimes or malfeasance, providing a net good for the business.
Q:
Looking into the initial intentions of parties to a business contract evidences consequentialism.
Q:
It is unlikely that a business or professional organization would look to law or legislation when drawing up an internal code of ethical conduct.
Q:
Businesses working in the international arena find social contract theory especially valuable because it promotes the idea that all parties deserve an equal opportunity for achievement, regardless of the country or system of laws they come from.
Q:
The social contract theory acknowledges that there are significant social and economic inequalities, but these inequalities should exist solely based upon what a person does, not on who a person is.
Q:
Within a strict utilitarian system of ethics, an action is considered unethical if it is inherently wrong, regardless of the circumstances under which the action is taken.
Q:
Modern business ethics reflects elements of both formalism and consequentialism, but tends to focus more heavily on consequentialism.
Q:
Federal law reduces criminal penalties for companies that take steps to control their ethical conduct.
Q:
Adam Smith, the author of The Wealth of Nations, perhaps the most famous book on economic theory ever written, denied the existence of any moral element in human nature that goes beyond self-interest.
Q:
It is appropriate for those engaged in international business to assume that all countries have the same ethical and moral values.
Q:
Ultimately, the commitment to ethical values is superior to mere observance of the law in ensuring responsible business behavior.
Q:
Formalism is primarily a duty-based view of ethics that creates moral obligations that one must satisfy in order to be ethical.
Q:
The foundation of John Rawls's social contract theory is a firm belief that self-knowledge and self-promotion will create the most just society.
Q:
Diverse societies are characterized as societies that have a single, unified system of ethical values that guide behavior.
Q:
Because of the increased influence of the Internet and extensive coverage of business in the news media, it has become increasingly difficult for businesses to hide questionable behavior.