Which of the following statements is true about ethical decision making in business?

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QUESTION 1

1. Which of the following statements is true about ethical decision making in ?

A.

It is limited to the type of major corporate decisions with social consequences.

B.

It should rely on the personal values and principles of the individuals involved

C.

It involves significant general policy issues that affect entire organizations.

D.

Every employee, except workers in a process-oriented organization, will be faced with an issue that will require ethical decision making.

4 points

QUESTION 2

1. Which of the following best describes a business stakeholder?

A.

Anyone who affects or is affected by decisions made within a firm.

B.

Anyone who has acquired significant shareholding in a firm.

C.

Anyone with a controlling interest in a firm.

D.

Minority shareholders in a business entity.

A corporatestakeholderis a person or group who can affect or be affected by the actions of abusiness. Internalstakeholdersare groups within abusinessor people who work directly within thebusiness, such as employees, owners, and investors.

4 points

QUESTION 3

1. The aspect ethics that examines business institutions from a social rather than an individual perspective is referred to as:

A.

institutionalized ethical responsibility.

B.

corporate cultural responsibility.

C.

decision making for social responsibility.

D.

institutional morality.

4 points

QUESTION 4

1. Kathy, your best friend and , asks you to help her with a challenging ethical predicament. Which of the following would be your first step in the decision making ?

A.

Identifying the ethical issue

B.

Considering the available alternatives

C.

Determining the facts of the situation

D.

Making the decision

1 Identify a problem or opportunity

2 Step 1:Identify the decision to be made.You realize that a decision must be made. You then go through an internal process of trying to define clearly the nature of the decision you must make.

4 points

QUESTION 5

1. Which of the following statements reflects the concept of normative myopia?

A.

"I was so involved in our debate that I missed the red light. We need to limit our conversations in the car."

B.

"I may have exaggerated the features of the product to get this sale. You knew how important this deal was for me.”

C.

"Brad met with an accident because he was drunk while driving. I hope he has learnt his lesson."

D.

"I never expected Draco to steal from me; he has been my friend for so long."

4 points

QUESTION 6

1. In the ethical decision-making process, once we have examined the facts and identified the ethical issues involved, we should next:

A.

make the decision.

B.

consider the available alternatives.

C.

identify stakeholders.

D.

monitor and learn from the outcomes.

4 points

QUESTION 7

1. Which of the following explains the term "satisficing?"

A.

Considering limited alternatives while making decisions.

B.

Selecting the alternative that meets minimum decision criteria.

C.

Following simplified decision rules.

D.

Selecting the alternative simply because it is the easy way out.

4 points

QUESTION 8

1. Ethical reasoning falls into three major categories. Identify them.

A.

Utility, virtue, and values

B.

Universal rights, values, and moral principles

C.

Personal character, consequences, and principles

D.

Universal rights, cultural norms, and mores

4 points

QUESTION 9

1. The study of various character traits that can contribute to, or obstruct, a happy and meaningful human life is part of:

A.

philosophical ethics.

B.

virtue ethics.

C.

deontological ethics.

D.

utilitarianism.

4 points

QUESTION 10

1. Utilitarianism has been called a(n):

A.

consequentialist approach to ethics.

B.

behavioral approach to ethics.

C.

commonsensical approach to ethics.

D.

intuitive approach to ethics.

4 points

QUESTION 11

1. Which of the following traditions would support child labor because it produces better overall consequences than the available alternatives?

A.

Virtue ethics

B.

Deontological ethics

C.

Utilitarianism

D.

Classicism

4 points

QUESTION 12

1. Economists that view profit maximization as a central idea to corporate social responsibility are following the:

A.

Kantian framework of ethics.

B.

utilitarian framework of ethics.

C.

deontological framework of ethics.

D.

virtue-based framework of ethics.

4 points

QUESTION 13

1. Which of the following is true about corporate culture?

A.

Corporate cultures shape the people of the organization, without getting affected by them.

B.

Corporate cultures are generally static, but can be changed by voluntary action of the top managers.

C.

Corporate cultures can hinder individuals in making the "right" decisions.

D.

Corporate Cultures cannot hinder individuals in making the “right” decisions.

4 points

QUESTION 14

1. Which of the following statements is true about ethical corporate cultures?

A.

Ethical organizational culture cannot have a direct impact on the bottom line.

B.

If attended to and supported, a strong ethical culture can serve as a deterrent to stakeholder damage.

C.

Even if ignored, organizational culture could reinforce a perception that "anything goes," and "any way to a better bottom line is acceptable," building long-term sustainability.

D.

The responsibility for creating and sustaining ethical corporate cultures rests on law enforcement agencies.

4 points

QUESTION 15

1. Which of the following is true about corporate culture?

A.

An integrity-based culture is one that reinforces a particular set of rules.

B.

A compliance culture is only as strong and as precise as the rules that workers are expected to follow.

C.

Values-based organizations do not include a compliance structure.

D.

A values-based culture emphasizes obedience to the rules as the primary responsibility of ethics.

4 points

QUESTION 16

1. Which of the following involves the disclosure of unethical or illegal activities to someone who is in a position to take action to prevent or punish the wrongdoing?

A.

Gentrification

B.

Redlining

C.

Whistleblowing

D.

Flyposting

4 points

QUESTION 17

1. The law has created a form of business that limits the liability of individuals for the risks involved in business activities. Identify the form of business.

A.

Corporation

B.

Partnership

C.

Limited partnership

D.

Proprietorship

4 points

QUESTION 18

1. Which of the following is true about the economic model of CSR?

A.

It holds that businesses should not only pursue profits, but it should also do its part for environment sustainability.

B.

It has its roots in the Kantian tradition of ethics.

C.

According to this model, profit is a direct measure of how well a business firm is meeting society's expectations.

D.

It holds that social goals should be at the heart of a firm's mission.

4 points

QUESTION 19

1. "Just as individuals have no ethical obligation to contribute to charity or to do volunteer work in their community, business has no ethical obligations to serve wider social goods. But, just as charity is a good thing and something that we all want to encourage, business should be encouraged to contribute to society in ways that go beyond the narrow obligations of law and economics." Identify the model of CSR that reflects this line of thought.

A.

Integrative model

B.

Stakeholder theory

C.

Philanthropic model

D.

Social Web model