Exam 3: Ethics in Business

Ethical decision makers should test and reflect on the outcome of their decisions.

Conduct that is legal is ethically unquestionable.

Congress does not pass laws based on ethics.

Duty-based ethics is based in the idea that every business has certain duties to others.

Business ethics looks at whether business decisions

Cody makes a business decision based on financial outcomes first, and then attempts to argue that it is ethical as well when it may not be. Cody is

The first step in making an ethical decision is to understand the problem.

One view of the role of business in society is the perceived duty of a company only to generate revenue for its owners.

Congress enacted the Sarbanes-Oxley Act to help reduce unethical management decisions.

An overemphasis on long-run profit maximization is a common reason for ethical problems that occur in business.

When making ethical decisions, a business should evaluate the financial implications.

Company codes of conduct set forth company policies and expectations for different issues.