22 questions
Ethics are beliefs about right and wrong, and business ethics refers to situations and behaviors in the workplace.
TRUE
FALSE
Ethics are based on individual beliefs and social concepts; thus, they may vary by person, situation, and culture. Cultural norms may indicate that behavior in one country is ethical (such as bribing), while in another country it is unethical or illegal.
TRUE
FALSE
Which of the following is a consumer right?
Safe products
Honest and fair treatment
Choice of products
Information and education about a purchase
Courteous service
Societies adopt formal ______ that reflect ethical standards; however, real-world situations are sometimes difficult to interpret.
Laws
Values
Morals
Traditions
Individuals’ personal codes of ethics are determined by a combination of factors, beginning ________.
In elementary school
In childhood
At adulthood
At age 21
Over time, peers and personal experiences influence the beliefs and behavior of a personal code of ethics.
TRUE
FALSE
Companies may require managers to go through regular ethics training to remind them of the importance of ethical decision making and to update them on current laws and regulations.
TRUE
FALSE
Managerial ethics include behavior toward:
Employees, the company and other agents (customers, suppliers, competitors, stockholders, dealers, and unions) of the company
Friends, family and co-workers
Everyone
Superiors
Guidelines to assess ethical behavior include the following:
Use common sense
Consult a mentor
Gather the relevant facts, determine appropriate moral values, and make a decision based on the situation
Include as many people as possible in the decision
When companies develop clear ethical positions on how the company and its employees will handle potential situations, _______.
Top management should show support of the standards
A written code may be completed
Ethics training may be used to educate employees
All of these
Companies strive to be ethically responsible to which of the following groups?
Customers
Employees
Investors
Suppliers
Local and international companies
Consumers deserve to be given product information that is truthful and not misleading, as well as information that is not morally objectionable.
TRUE
FALSE
A ______ is an employee who discovers and tries to end a company’s unethical, illegal, or irresponsible actions by publicizing them.
Rat fink
Informant
Tattletale
Whistle blower
Insider trading occurs when someone uses ____ information to benefit from the purchase or sale of stocks.
Confidential
Published
In-house
Well-known
In maintaining and reporting its financial status, every corporation must conform to generally accepted _______ principles.
Ethics
Reporting
Accounting
Spreadsheet
A key to business success is to decide _______ how to respond to the issues that underlie questions of ethical and social responsibility.
Among executives
In advance
Legally
Case-by-case
Ethical leadership often sets the tone for the entire organization.
TRUE
FALSE
Many organizations now require all employees to read their guidelines or code of ethics and then sign a statement agreeing to abide by it.
TRUE
FALSE
Discovery of business ethics violations may result in:
Termination of employment
Monetary fines
Imprisonment
Promotion
The phrase “It’s just business” can be a red flag to examine profit vs ethics.
TRUE
FALSE
Profit always trumps ethics.
TRUE
FALSE
A TV ad for sugar-filled cereal with a cool gadget inside that targets small children is unethical.
TRUE
FALSE