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Unit 2: Business Ethics Flashcards | StudBud
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Unit 2: Business Ethics
Unit 2: Business Ethics
33 terms
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Questions
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Answers
1
What is corporate philanthropy?
A form of unethical behavior
A legal requirement for all businesses
An investment in marketing and advertising
Donations and contributions by companies to charitable causes
2
What is the role of top management in organizational ethics?
Top management only monitors employee behavior
Top management enforces ethical regulations
Top management sets the ethical tone and leads by example
Top management has no influence on ethics
3
Describe strategic giving.
Targeted philanthropy designed to achieve specific business goals
Giving to charity as a legal requirement
Giving to charity without any specific purpose
Donating to political campaigns
4
How can you recognize unethical activities?
By understanding their personal beliefs
By their level of education
By examining an individual's appearance
By identifying actions that violate moral or legal standards
5
How are individual business ethics formed?
Through peer pressure and competition
By personal values, experiences, and upbringing
Through government regulations
By organizational policies
6
Corporate social responsibility (CSR) refers to a company's commitment to:
Ethical and social responsibility
Ignoring environmental concerns
Maximizing profits at any cost
Benefiting shareholders only
7
What does CSR stand for?
Corporate Social Responsibility
Corporate Sales Revenue
Corporate Sustainability Responsibility
Corporate Strategic Regulation
8
Which ethical theory focuses on the consequences of actions to determine their morality? (For the greater good)
Virtue ethics
Deontology
Rights ethics
Utilitarianism
9
Can organizations impact ethical codes? How if so?
Ethical codes are solely determined by government regulations
Ethical codes are shaped only by individual employees
Yes, organizations can establish and enforce their own ethical codes
No, organizations have no influence on ethical codes
10
Which is an example of legal but irresponsible behavior?
Maximizing profits at the expense of employee safety
Avoiding negative environmental impacts
Offering safe products to consumers
Providing fair wages and benefits to employees
11
What role do employees have in improving their job security?
By demonstrating competence and value to the organization
Employees should not be concerned with job security
Employees have no role in job security
Employees can secure their jobs by demanding higher salaries
12
What is utilitarianism?
A theory that emphasizes personal virtues
A theory that focuses on individual self-interest
A theory that prioritizes the greatest overall happiness
A theory that values deontological principles
13
What is corporate philanthropy?
A legal requirement for all businesses
A form of unethical behavior
An investment in marketing and advertising
Donations and contributions by companies to charitable causes
14
What is utilitarianism?
A theory that values deontological principles
A theory that prioritizes the greatest overall happiness
A theory that emphasizes personal virtues
A theory that focuses on individual self-interest
15
Sweatshops in developing countries often raise ethical concerns related to:
Executive compensation
Fair wages and working conditions
Employee training
Charitable donations
16
What is a code of ethics?
A confidential report on unethical behavior within an organization
A set of rules for personal behavior outside of work
A legal document that all employees must sign
A formal statement of an organization's values and ethical principles
17
How do businesses carry out their social responsibilities to consumers?
By minimizing product quality to reduce costs
By strictly adhering to legal regulations
By providing excellent customer service and safe products
By avoiding all interactions with consumers
18
The "business case for ethics" argues that ethical behavior in business leads to:
Financial losses
Sustainable success and profitability
Reputation damage
Litigation and lawsuits
19
Which of the following is NOT a component of corporate social responsibility (CSR)?
Philanthropic initiatives
Maximizing profits
Ethical business practices
Environmental sustainability
20
What does CSR stand for?
Corporate Sales Revenue
Corporate Social Responsibility
Corporate Sustainability Responsibility
Corporate Strategic Regulation
21
What is the primary goal of business ethics?
Maximizing profits
Upholding ethical principles
Promoting social responsibility
Enhancing employee happiness
22
How do multinational corporations demonstrate social responsibility in a foreign country?
By focusing solely on profits and disregarding local customs
By exploiting local resources without regard for the environment
By adhering to the same ethical standards as in their home country
By respecting local laws and customs and engaging in fair labor practices
23
Which of the following is an example of a conflict of interest in business?
A CEO investing in a supplier's company
Hiring a diverse workforce
Providing employee training
Offering competitive prices
24
Sweatshops in developing countries often raise ethical concerns related to:
Executive compensation
Charitable donations
Employee training
Fair wages and working conditions
25
What are ethics and justice? Are there any differences?
Ethics concern moral principles, while justice relates to fairness
Ethics and justice are unrelated concepts
Ethics and justice are the same concepts
Ethics focus on law, while justice emphasizes morality
26
The "business case for ethics" argues that ethical behavior in business leads to:
Sustainable success and profitability
Financial losses
Reputation damage
Litigation and lawsuits
27
A company that voluntarily addresses its environmental impact and supports eco-friendly initiatives is engaging in:
Deregulation
Ethical behavior
Greenwashing
Exploitation
28
What is the primary goal of business ethics?
Maximizing profits
Upholding ethical principles
Enhancing employee happiness
Promoting social responsibility
29
What is a code of ethics?
A formal statement of an organization's values and ethical principles
A set of rules for personal behavior outside of work
A confidential report on unethical behavior within an organization
A legal document that all employees must sign
30
Describe strategic giving.
Giving to charity as a legal requirement
Giving to charity without any specific purpose
Donating to political campaigns
Targeted philanthropy designed to achieve specific business goals
31
What economic system aims for absolute justice (in theory)?
None of the above
Communism
Capitalism
Socialism
32
How do businesses carry out their social responsibilities to consumers?
By strictly adhering to legal regulations
By minimizing product quality to reduce costs
By providing excellent customer service and safe products
By avoiding all interactions with consumers
33
Is a company’s only responsibility to its investors to make a profit? Why or why not?
Profit is the sole responsibility, but ethics are optional
Yes, profit is the sole responsibility of a company
Companies have no responsibility to investors
No, companies have a broader range of social and ethical responsibilities
