Question 1

Creating alternatives is the last step of the framework for arriving at ethical decisions.

Accepted Answer

Creating alternatives is typically an early step in the framework for arriving at ethical decisions, as it involves generating different courses of action before evaluating and choosing the most ethical option.

Question 2

In the five-step framework for making ethical decisions, implementing a course of action implies ________.

Accepted Answer

Implementing a course of action in the five-step framework for making ethical decisions involves creating new rules, processes, or procedures, and putting these into effect. This step is necessary for ensuring that the ethical decision is put into practice and becomes a part of the organization's culture. The other options are steps in the framework, but do not directly relate to implementing a course of action.

Question 3

When it comes to ensuring ethical behavior, experienced managers follow a systematic process.

Accepted Answer

Experienced managers follow a systematic process to ensure ethical behavior, which includes setting clear ethical standards, communicating those standards to employees, providing training on ethics, monitoring behavior, and taking appropriate action when necessary. This helps to establish a culture of ethical behavior within the organization.

Question 4

According to the framework for arriving at ethical decisions, a course of action must be identified as soon as the ethical problem is detected.

Accepted Answer

According to the framework for arriving at ethical decisions, the next step after detecting an ethical problem is to gather relevant information, identify stakeholders, and consider alternative courses of action before making a decision.

Question 5

When making decisions regarding ethical business actions, managers should ________.

Accepted Answer

Managers should balance their obligation to shareholders (which includes maximizing profits) with explicit contributions to the broader public good. This approach recognizes the importance of being socially responsible and ethical, which can lead to long-term success and increased stakeholder trust. Minimizing employee empowerment (A) is not a necessary step in making ethical decisions. Focusing solely on profits (B) ignores the social and environmental impacts of business activities. Prioritizing the company's benefit from a common pool of resources (C) may not align with ethical considerations.

Question 6

Relying on one's instincts is often the best way to identify an ethical problem.

Accepted Answer

The answer of Relying on one's instincts is often the...

Question 7

What is a code of ethics? What function does it serve for businesses?

Accepted Answer

The answer of What is a code of ethics? What...

Question 8

Evaluation of results is the last step of the framework for arriving at ethical decisions.

Accepted Answer

Evaluation of results is the last step of the framework for arriving at ethical decisions. It is important to assess the outcomes of a decision to determine if it was the right one and if it had any unintended consequences. This information can be used to improve future decision-making processes.

Question 9

In a short essay, explain the five-step framework for making ethical decisions.

Accepted Answer

The answer of In a short essay, explain the five-step...

Question 10

When applying the five-step framework for making ethical decisions, managers should, at first, ________.

Accepted Answer

The first step in the five-step framework for making ethical decisions is to recognize the ethical problem. This involves identifying the ethical dilemma and determining the stakeholders involved. Once the ethical problem is recognized, managers can proceed to examine the facts and evaluate alternatives before implementing their decision.

Question 11

In the five-step framework for making ethical decisions, which of the following approaches to evaluating actions is being used by a manager who questions whether a proposed action embodies character strengths he/she values?

Accepted Answer

The virtue approach to evaluating actions considers the character strengths and virtues embodied by different actions, and whether they align with the values and virtues held by the decision-maker. This approach focuses on the moral character of the individual and encourages decision-makers to act in ways that reflect positive character traits.

Question 12

When using the five-step framework for making ethical decisions, which of the following steps involves investigating which individuals have a stake in the outcome?

Accepted Answer

Examining the facts involves investigating which individuals have a stake in the outcome, as part of understanding the situation fully.

Question 13

Acknowledging the presence of an ethical problem is the first step of the framework for arriving at ethical decisions.

Accepted Answer

This is true. The first step in the framework for arriving at ethical decisions is to recognize the ethical problem or dilemma at hand. Only after recognizing and acknowledging the problem can one move on to analyzing the situation, identifying potential options, and ultimately making a decision based on ethical principles.

Quiz 4: Ethics, Corporate Social Responsibility, Sustainability and Corporate Governance