Question 1

Which of the following acts was passed amid outcries of public outrage over outrageous management practices discovered at several companies including Enron,WorldCom,and Tyco?

Accepted Answer

The Sarbanes-Oxley Act was passed in response to financial scandals involving companies like Enron, WorldCom, and Tyco, aiming to improve corporate governance and financial practices.

Question 2

Which of the following guidelines indicates that in order to be ethical,corporate behavior must respect the dignity of human nature?

Accepted Answer

The Rights standard emphasizes that ethical actions should respect and protect the moral rights of those involved, including the fundamental right to be treated with dignity. This aligns with the principle that corporate behavior must respect the dignity of human nature.

Question 3

Sustainability is said to be worthwhile as these efforts result in an increase in which of the following areas?

Accepted Answer

Sustainability efforts result in an increase in profits, innovation, and productivity.

Question 4

A manager's actions to build organizations that are sustainable in economic,environmental,and societal activities are commonly referred to as the ________.

Accepted Answer

The term "triple bottom line" refers to a framework or theory that recommends that companies commit to focus on social and environmental concerns just as they do on profits. This approach suggests that businesses should account for and report their financial, social, and environmental performance. This concept emphasizes sustainability in economic, environmental, and societal activities.

Question 5

________ indicates that behavior can be considered ethical if it provides the most good for the greatest number of people.

Accepted Answer

The utilitarian standard is the ethical principle that suggests an action is right if it leads to the greatest good for the greatest number of people, focusing on the outcomes or consequences of actions to determine their morality.

Question 6

Which of the following suggests that an organization is acting unethically?

Accepted Answer

Public pressure on legislators and officials to enforce regulations suggests unethical behavior, as it implies the organization may be violating existing laws or ethical standards.

Question 7

Roger believes in the statement,"what you give,you receive." He shows respect to everyone he knows and meets every day and expects them to show him respect.Roger's behavior is consistent with ________.

Accepted Answer

The Golden Rule, often phrased as "treat others as you would like to be treated," aligns with Roger's belief and behavior of showing respect to others and expecting the same in return.

Question 8

Which of the following actions suggests that an individual is following the golden rule?

Accepted Answer

The golden rule is a principle of treating others as one wants to be treated. It is a common theme across many cultures and religions. Option A directly reflects this principle by stating that a person is treating others in a way he/she would expect to be treated, which aligns with the essence of the golden rule.

Question 9

The Federal Reserve Board (the Fed)examines the relevant economic data and makes a judgment about the present and future state of the economy in order to set interest rates.If economic activity seems to be slowing down,the Fed might decide to lower interest rates as a means for stimulating economic growth.If the economy seems to be growing too fast and the inflation rate is increasing,it might choose to raise interest rates.Lowering or raising interest rates,in and of itself,is neither good nor bad;the rightness of the act depends on the consequences.This action is consistent with the ________.

Accepted Answer

The Federal Reserve's decision to adjust interest rates based on the consequences for economic growth or inflation aligns with the utilitarian standard, which focuses on the outcomes or consequences of an action to determine its moral rightness.

Question 10

In business,ethics can be defined as the capacity to reflect on ________ in the corporate decision-making process.

Accepted Answer

Ethics in business refers to the consideration of moral principles and values in making decisions. It involves reflecting on what is right and wrong, fair and unfair, and just and unjust in the context of corporate actions and policies.

Question 11

What is sustainability? Why is building sustainable organizations important?

Accepted Answer

The answer of What is sustainability? Why is building sustainable...

Question 12

Within their organizations,________ must take responsibility for creating and sustaining conditions in which employees are likely to behave ethically,as well as creating and sustaining efforts aimed at minimizing conditions in which employees might be tempted to behave unethically.

Accepted Answer

Managers are responsible for creating and sustaining ethical conditions within organizations, as well as minimizing conditions that might tempt unethical behavior. This includes setting the right example, enforcing ethical policies, and fostering a culture of integrity.

Question 13

Which of the following are best categorized as "outside" stakeholders of an organization?

Accepted Answer

Customers are considered outside stakeholders because they are external to the organization's operations, unlike managers, employees, and shareholders/stockholders who are internal stakeholders.

Question 14

Business behavior that reflects honesty in advertising about the worthiness of a product or paying suppliers a fair price for their goods is an example of the ________.

Accepted Answer

The Virtue standard in business ethics emphasizes moral excellence in the behavior of individuals and organizations. It includes honesty in advertising and fairness in transactions, such as paying suppliers a fair price for their goods. This standard focuses on the character and integrity of the decision-makers and their actions, rather than on specific outcomes or rules.

Question 15

The study of ethics in management can be approached from many different directions.A practical approach is to view ethics as catalyzing managers to ________.

Accepted Answer

Ethics in management encourages managers to take socially responsible actions, which go beyond just legal compliance or fulfilling stockholder needs, and focus on broader societal impacts.

Question 16

________ is a formal statement that acts as a guide for the ethics of how people within a particular organization should act and make decisions.

Accepted Answer

A code of ethics is a formal document that outlines the principles of conduct to be used in making decisions within an organization. It serves as a guide for ethical behavior for members of the organization.

Question 17

________ is a guideline that determines behavior to be ethical if it reflects high moral values.

Accepted Answer

The virtue standard is the guideline that determines behavior to be ethical if it reflects high moral values, focusing on the inherent character and virtues that a moral individual should possess.

Question 18

While managers have historically focused on profits as the primary gauge for evaluating organizational performance,managers today are evaluating performance by examining three sustainability gauges.These include:

Accepted Answer

The three sustainability gauges that managers today are evaluating performance by include the economy, environment, and society. This approach reflects a broader understanding of sustainability that goes beyond mere profitability to consider the impact on and the needs of both the natural environment and society at large.

Question 19

What does it really mean to say "sustainability is the future of business?" Defend and support your answer.

Accepted Answer

The answer of What does it really mean to say...

Question 20

Behavior where the actions reflect virtues like honesty,fairness,and compassion is an example of the ________.

Accepted Answer

The behavior that reflects virtues such as honesty, fairness, and compassion is an example of the virtue standard. This standard focuses on the character and virtues that a moral action should embody.

Quiz 3: Managers,society,and Sustainability