Exam 10: Ethical Decision Making and the Entrepreneur

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While issues regarding business ethics are open to interpretation,business law is not.

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In an attempt to connect with business managers in a way that reflects the real world,business ethicists talk of moderation,pragmatism and minimalism.

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Discuss why entrepreneurs who truly know themselves make the best ethical decisions.

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They do a better job of knowing what they do and don't know-and thus who should be added to their team and brain trust.And their honesty and forthrightness about their own capabilities and shortcomings instill trust and confidence;people see that they are not full of puffery and exaggeration.To make good decisions you must identify and understand yourself and the scope and the effects of your own self-interest.Knowing your biases and weaknesses offers an opportunity for personal development or to proactively compensate for them.Failing to recognize these can result in poor choices.

As players in a game to win,business people can develop two sets of standards for ethical behavior;one for work,one for their private lives.

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Immanuel Kant's ________ approach is pursued without concern for the outcomes of actions,but according to whether the action is something that an ethical person would do.

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Throughout the history of business,ethics have been relative to the social context of the times.

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When doing business abroad,entrepreneurs must adhere to the legal and ethical framework of their native country.

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Our ________,which compels us to seek pleasure and benefit and avoid pain and loss,influences and colors our perceptions.

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Taking a course in business ethics has been shown to have little effect on improving one's capacity for decision making and problem solving in the context of personal ethical standards.

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What is the most widely used approach to ethical decision-making?

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Who is associated with deontology-one's duty to act?

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The ethical approach known as Machiavellianism is related to which one of the following?

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The ________ construct classifies moral judgment into six stages of development.

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When making ethical decisions,it is best to choose an approach you feel most comfortable with and stick to those principles.

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Why is it important to study and think about ethical situations in business settings?

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Broken partnerships can often be traced to differences in personal ethics among the members of the management team.

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Ethical decision making is affected by the depth and scope of which of the following?

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Entire industries have developed their own codes of ethics as a way of heading off action by Congress.

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Since your judgment will be less clouded prior to launch,the planning process for your new venture should include a good bit of personal ________.

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Serious mistakes,especially ethical ones,are rarely made during quiet and orderly times.

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