Question 1

Which of the following statements is true about business ethics?

Accepted Answer

A) A firm that has ethical management will succeed financially. 
B) Codes of ethics should cover every business ethics issue. 
C) Business ethics focuses more on laws over values. 
D) Individuals apply the same ethical rules in business as they do at home. 
E) There is no conflict between profits and business ethics. 
A) A firm that has ethical management will succeed financially. 
B) Codes of ethics should cover every business ethics issue. 
C) Business ethics focuses more on laws over values. 
D) Individuals apply the same ethical rules in business as they do at home. 
E) There is no conflict between profits and business ethics. E

Question 2

Discuss the evolution of business ethics as a field of study from before 1960 to the 1980s.

Accepted Answer

The study of business ethics evolved through five distinct stages. Before 1960, business ethics issues were discussed primarily from a religious perspective. The 1960s saw the emergence of many social issues involving business and the concept of social conscience as well as a rise in consumerism, which culminated with Kennedy's Consumers' Bill of Rights. Business ethics began to develop as an independent field of study in the 1970s, with academics and practitioners exploring ethical issues and attempting to understand how individuals and organizations make ethical decisions. These experts began to teach and write about the idea of corporate social responsibility, an organization's obligation to maximize its positive impact on stakeholders and minimize its negative impact. In the 1980s, centers of business ethics provided publications, courses, conferences, and seminars, and many companies established ethics committees and social policy committees. The Defense Industry Initiative (DII)on Business Ethics and Conduct was developed to guide corporate support for ethical conduct; its principles had a major impact on corporate ethics.

Question 3

Discuss the current state of business ethics in the twenty-first century.

Accepted Answer

The twenty-first century ushered in a new set of ethics scandals, suggesting many companies had not embraced the public's desire for higher ethical standards. The Sarbanes-Oxley Act stiffened penalties for corporate fraud and established an accounting oversight board. The Dodd-Frank Wall Street Reform and Consumer Protection Act were later passed to reform the financial system. The current trend is away from legally based ethical initiatives in organizations and toward cultural initiatives that make ethics a part of core organizational?values.

Question 4

One of the major ethical issues President Obama's administration focused on was

Accepted Answer

A) decreasing environmental legislation. 
B) deregulation. 
C) tax decreases. 
D) incentives to oil companies. 
E) health care and consumer protection. 
A) decreasing environmental legislation. 
B) deregulation. 
C) tax decreases. 
D) incentives to oil companies. 
E) health care and consumer protection.

Question 5

How do values and judgments play a critical role when we make ethical decisions?

Accepted Answer

One difference between an ordinary decis

Question 6

Most organizations with strong ethical climates usually focus on the core value of placing _____ interests first.

Accepted Answer

A) customers' 
B) employees' 
C) stockholders' 
D) suppliers' 
E) distributors' 
A) customers' 
B) employees' 
C) stockholders' 
D) suppliers' 
E) distributors'

Question 7

Why is the public more tolerant of consumer misconductthan business misconduct?

Accepted Answer

A) Businesses are expected to have a better idea of right and wrong. 
B) The decisions of individuals have little to do with ethics in the business world. 
C) There are big differences in wealth and success between businesses and consumers. 
D) More organizations commit misconduct than individual consumers. 
E) There is a large income disparity among professional businesspeople. 
A) Businesses are expected to have a better idea of right and wrong. 
B) The decisions of individuals have little to do with ethics in the business world. 
C) There are big differences in wealth and success between businesses and consumers. 
D) More organizations commit misconduct than individual consumers. 
E) There is a large income disparity among professional businesspeople.

Question 8

​What business ethics issue was a major concern during the 1920s?

Accepted Answer

A) ​Sustainability 
B) ​Consumerism 
C) ​Living wage 
D) ​Bribery 
E) ​Abusive managers 
A) ​Sustainability 
B) ​Consumerism 
C) ​Living wage 
D) ​Bribery 
E) ​Abusive managers

Question 9

Values are

Accepted Answer

A) specific and pervasive boundaries for behavior that should not be violated. 
B) acceptable behavior as defined by the company and industry. 
C) attempts by businesses to minimize their negative impact on society. 
D) a person's moral philosophies about what is right or wrong. 
E) enduring beliefs and ideals that are socially enforced. 
A) specific and pervasive boundaries for behavior that should not be violated. 
B) acceptable behavior as defined by the company and industry. 
C) attempts by businesses to minimize their negative impact on society. 
D) a person's moral philosophies about what is right or wrong. 
E) enduring beliefs and ideals that are socially enforced.

Question 10

The 1960s saw a rise of consumerism. What is consumerism?

Accepted Answer

A) An increase in consumer rights by individuals, organizations, and governments 
B) The growth of international retail chain stores that served global consumers 
C) Activities undertaken by independent individuals, groups, and organizationsto protect their rights as consumers 
D) The widespread adoption of consumer-oriented marketing strategies among businesses 
E) The tendency of organizations to view consumers as their most important stakeholder 
A) An increase in consumer rights by individuals, organizations, and governments 
B) The growth of international retail chain stores that served global consumers 
C) Activities undertaken by independent individuals, groups, and organizationsto protect their rights as consumers 
D) The widespread adoption of consumer-oriented marketing strategies among businesses 
E) The tendency of organizations to view consumers as their most important stakeholder

Question 11

​Prior to the 1960s, ethical issues related to business were discussed mainly in the domain of theology or philosophy.

Accepted Answer

A) True 
 B)False

Question 12

Many people wrongly assume that a company will be ethical if it

Accepted Answer

A) attracts high-profile investors. 
B) rewards employees for high performance. 
C) provides adequate compensation to employees. 
D) simply hires ethical employees. 
E) performs highly on the stock market. 
A) attracts high-profile investors. 
B) rewards employees for high performance. 
C) provides adequate compensation to employees. 
D) simply hires ethical employees. 
E) performs highly on the stock market.

Question 13

_____ is essential in building long-term relationships between businesses and consumers.

Accepted Answer

A) Profit 
B) Governance 
C) Trust 
D) Knowledge 
E) A code of ethics 
A) Profit 
B) Governance 
C) Trust 
D) Knowledge 
E) A code of ethics

Question 14

Which of the following was developed in the 1980s to guide corporate support for ethical conduct by establishing a method for discussing best practices?

Accepted Answer

A) Federal Sentencing Guidelines for Organizations 
B) Defense Industry Initiative on Business Ethics and Conduct 
C) Corporate codes of conduct 
D) U.S. Sentencing Commission 
E) The Southern Common Market 
A) Federal Sentencing Guidelines for Organizations 
B) Defense Industry Initiative on Business Ethics and Conduct 
C) Corporate codes of conduct 
D) U.S. Sentencing Commission 
E) The Southern Common Market

Question 15

What happens when society deems a particular business action as wrong or unethical? ​

Accepted Answer

A) ​Legislation usually follows. 
B) ​The guilty individual is jailed. 
C) ​Self-regulation is deemed a failure. 
D) ​The company goes bankrupt. 
E) ​Fines automatically follow. 
A) ​Legislation usually follows. 
B) ​The guilty individual is jailed. 
C) ​Self-regulation is deemed a failure. 
D) ​The company goes bankrupt. 
E) ​Fines automatically follow.

Question 16

The Dodd-Frank Wall Street Reform and Consumer Protection Act

Accepted Answer

A) was very popular among Wall Street bankers. 
B) represented modest reform to the finance industry. 
C) came out of theological discussions in the 1920s. 
D) was designed to make the financial services industry more responsible. 
E) made it mandatory for public corporations to hire ethics officers. 
A) was very popular among Wall Street bankers. 
B) represented modest reform to the finance industry. 
C) came out of theological discussions in the 1920s. 
D) was designed to make the financial services industry more responsible. 
E) made it mandatory for public corporations to hire ethics officers.

Question 17

Morals

Accepted Answer

A) are the same as principles and ethics. 
B) relate to the business's ethical culture. 
C) are emphasized in business ethics programs. 
D) relate to you and you alone. 
E) do not have much influence over individual ethical decision making. 
A) are the same as principles and ethics. 
B) relate to the business's ethical culture. 
C) are emphasized in business ethics programs. 
D) relate to you and you alone. 
E) do not have much influence over individual ethical decision making.

Question 18

Which of the following is not one of the rights spelled out by John F. Kennedy in his "Consumers' Bill of Rights"?

Accepted Answer

A) The right to choose 
B) The right to safety 
C) The right to be informed 
D) The right to be ethical 
E) The right to be heard 
A) The right to choose 
B) The right to safety 
C) The right to be informed 
D) The right to be ethical 
E) The right to be heard

Question 19

The Consumers' Bill of Rights developed by John F. Kennedy ​maintains that consumers have the right to safety, the right to be heard, the right to free speech, and the right to choose.

Accepted Answer

A) True 
 B)False

Question 20

ISO 19600 is a set of 10 principles concerning human rights, labor, the environment, and anti-corruption.

Accepted Answer

A) True 
 B)False

Which of the following statements is true about business ethics?

Discuss the evolution of business ethics as a field of study from before 1960 to the 1980s.

Discuss the current state of business ethics in the twenty-first century.

One of the major ethical issues President Obama's administration focused on was

How do values and judgments play a critical role when we make ethical decisions?

Most organizations with strong ethical climates usually focus on the core value of placing _____ interests first.

Why is the public more tolerant of consumer misconductthan business misconduct?

What business ethics issue was a major concern during the 1920s?

Values are

The 1960s saw a rise of consumerism. What is consumerism?

Prior to the 1960s, ethical issues related to business were discussed mainly in the domain of theology or philosophy.

Many people wrongly assume that a company will be ethical if it

_____ is essential in building long-term relationships between businesses and consumers.

Which of the following was developed in the 1980s to guide corporate support for ethical conduct by establishing a method for discussing best practices?

What happens when society deems a particular business action as wrong or unethical?

The Dodd-Frank Wall Street Reform and Consumer Protection Act

Morals

Which of the following is not one of the rights spelled out by John F. Kennedy in his "Consumers' Bill of Rights"?

The Consumers' Bill of Rights developed by John F. Kennedy maintains that consumers have the right to safety, the right to be heard, the right to free speech, and the right to choose.

ISO 19600 is a set of 10 principles concerning human rights, labor, the environment, and anti-corruption.

Stakeholder Relationships, Social Responsibility, and Corporate Governance

Emerging Business Ethics Issues

The Institutionalization of Business Ethics

Ethical Decision Making

Individual Factors: Moral Philosophies and Values

Organizational Factors: the Role of Ethical Culture and Relationships

Developing an Effective Ethics Program

Managing and Controlling Ethics Programs

Globalization of Ethical Decision Making

Ethical Leadership

Sustainability: Ethical and Social Responsibility Dimensions

Filters

Exam 1: The Importance of Business Ethics

Which of the following statements is true about business ethics?

Discuss the evolution of business ethics as a field of study from before 1960 to the 1980s.

Discuss the current state of business ethics in the twenty-first century.

One of the major ethical issues President Obama's administration focused on was

How do values and judgments play a critical role when we make ethical decisions?

Most organizations with strong ethical climates usually focus on the core value of placing _____ interests first.

Why is the public more tolerant of consumer misconductthan business misconduct?

​What business ethics issue was a major concern during the 1920s?

Values are

The 1960s saw a rise of consumerism. What is consumerism?

​Prior to the 1960s, ethical issues related to business were discussed mainly in the domain of theology or philosophy.

Many people wrongly assume that a company will be ethical if it

_____ is essential in building long-term relationships between businesses and consumers.

Which of the following was developed in the 1980s to guide corporate support for ethical conduct by establishing a method for discussing best practices?

What happens when society deems a particular business action as wrong or unethical? ​

The Dodd-Frank Wall Street Reform and Consumer Protection Act

Morals

Which of the following is not one of the rights spelled out by John F. Kennedy in his "Consumers' Bill of Rights"?

The Consumers' Bill of Rights developed by John F. Kennedy ​maintains that consumers have the right to safety, the right to be heard, the right to free speech, and the right to choose.

ISO 19600 is a set of 10 principles concerning human rights, labor, the environment, and anti-corruption.

Stakeholder Relationships, Social Responsibility, and Corporate Governance

Emerging Business Ethics Issues

The Institutionalization of Business Ethics

Ethical Decision Making

Individual Factors: Moral Philosophies and Values

Organizational Factors: the Role of Ethical Culture and Relationships

Developing an Effective Ethics Program

Managing and Controlling Ethics Programs

Globalization of Ethical Decision Making

Ethical Leadership

Sustainability: Ethical and Social Responsibility Dimensions

Filters

What business ethics issue was a major concern during the 1920s?

Prior to the 1960s, ethical issues related to business were discussed mainly in the domain of theology or philosophy.

What happens when society deems a particular business action as wrong or unethical?

The Consumers' Bill of Rights developed by John F. Kennedy maintains that consumers have the right to safety, the right to be heard, the right to free speech, and the right to choose.