7. An ethical issue is an identifiable problem, situation, or opportunity that requires a person or organization to choose from among several actions that may be evaluated as ethical or unethical. True False 8. The best way to judge the ethics of a decision is to look at it from a manager's or employee's point of view. True False 9. The size of the transaction, the history of personal relationships within the particular company, and many other factors may determine whether a customer gift will be judged as ethical. The size of the transaction, the history of personal relationships within the particular company, and many other factors may determine whether a customer gift will be judged as ethical.
Chapter 02 Business Ethics and Social Responsibility Answer Key
True / False Questions
1.(p. 36)Business ethics refers to principles and standards that define acceptable conduct in business
organizations.
TRUE
Business ethics are principles and standards that define acceptable behavior for individuals within an organization as
well as the organization at large.
AACSB: Ethics
Blooms: Knowledge
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility; and examine their importance.
Topic: Business Ethics and Social Responsibility
2.(p. 36-37)Ethics and social responsibility mean the same thing.
FALSE
Business ethics are the principles and standards that determine acceptable conduct in businesses. Social
responsibility is a broader concept. It is a businesss obligation to maximize its positive impact and minimize its
negative impact on society.
AACSB: Ethics
Blooms: Knowledge
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility; and examine their importance.
Topic: Business Ethics and Social Responsibility
3.(p. 39)Nearly all business decisions may be judged as right or wrong, ethical or unethical.
TRUE
Business decisions, either by law or by society, will be deemed an acceptable practice or not.
AACSB: Ethics
Blooms: Knowledge
Difficulty: Medium
Learning Objective: 02-01 Define business ethics and social responsibility; and examine their importance.
Topic: The Role of Ethics in Business
4.(p. 37)The most basic ethical concerns have been formalized through laws and regulations that encourage
conformity to societys values and norms.
TRUE
Related Questions
Q51:
If an employee learned of a significant cost-saving idea from a coworker and then informed management of the idea without revealing its true source,the employee would be involved in: A)keeping a secret. B)misuse of resources. C)plagiarism. D)bullying. E)bribery.
Q52:
Which of the following is one of the most common factors that executives give for why turnover increases? A)A lack of transparency among company leaders B)An absence of unfair employee treatment C)A decrease in attrition rate in a company D)An increase in employee engagement E)An absence of employee dissatisfaction
Q53:
If a manager pressures a subordinate to engage in activities that he or she may otherwise view as unethical,such as engaging in accounting fraud or stealing a competitor's secrets,this would be an ethical issue related to: A)plagiarism. B)business relationships. C)communications. D)fairness and honesty. E)conflicts of interest.
Q54:
Which of the following is true of professional codes of ethics? A)They are informal rules of ethics followed by employees. B)They do not have to provide any guidelines and principles. C)They do not have to be too detailed. D)They should only be developed by the board of directors of a firm. E)They should take into account every ethical situation possible.
Q55:
Which of the following acts includes a whistleblower bounty program? A)The Clayton Act B)The Sherman Antitrust Legislation C)The Celler-Kefauver Act D)The Hobbs Act E)The Dodd-Frank Act
Q57:
A manager attempting to take credit for a subordinate's ideas is engaging in a type of_____. A)conflict of interest B)plagiarism C)whistleblowing D)misplaced loyalty E)capture bonding
Q58:
According to the National Business Ethics Survey (NBES),_____ is the greatest determinant of future misconduct. A)a company's workforce B)the external environment C)the universal business overview D)a company's ethical culture E)a company's stakeholders
Q59:
Being profitable relates to the _____ dimension of social responsibility. A)corporate citizenship B)voluntary C)ethical D)legal E)economic
Q60:
Codes of ethics,policies on ethics,and ethics training programs advance ethical behavior because they: A)do not limit the opportunity for misconduct. B)result in expensive litigation. C)infringe on consumers' rights to be informed. D)prescribe which activities are acceptable and which are not. E)are strictly voluntary in nature.
Q61:
Identify an argument that supports social responsibility. A)Some people question whether business has the expertise needed to assess and make decisions about social problems. B)Instances of whistleblowing causes significant damage to employees. C)As members of society,businesses should do their fair share to help others. D)Participation in social programs gives businesses greater power,perhaps at the expense of particular segments of society. E)Social responsibility sidetracks managers from earning profits.