Solving Ethical Dilemmas and Personal Introspection

Question 1

What are principals and standards that guide behavior in the world of business?

Answer 1

Business Ethics

Question 2

What is any law enacted at any level of government that carries some sanction or punishment for noncompliance?

Answer 2

Positive Law

Question 3

Fill in the Blank:

Many actions that comply with positive law raise __________

Answer 3

Ethical issues

Question 4

True or False:

If the standard is strict compliance with the law, underlying ethical issues may be ignored

Answer 4

True

Question 5

What is misrepresentation?

Answer 5

An untrue statement of fact

Question 6

What 4 things does applied business ethics contribute to?

Answer 6

1. Employee commitment
2. Investor loyalty
3. Customer satisfaction
4. Profits

Question 7

What are 5 ethical issues that are important to employees?

Answer 7

1. Safe work environment
2. Competitive salaries
3. Fulfillment of contract obligations
4. Work-family programs
5. Stock ownership plans

Question 8

True or False:

Investors realize that negative publicity, lawsuits, and fines can lower stock prices, diminish customer loyalty, and threaten a company’s long-term success

Answer 8

True

Question 9

Fill in the Blanks:

Investors are increasingly concerned about ________, __________, and ________ of companies in which they invest

Answer 9

1. Ethics
2. Social Responsibility
3. Reputation

Question 10

True or False:

The reputation of an organization doesn’t affects its bottom line

Answer 10

False