Question 1

Ethics is the study of what is right and wrong just from an individual's personal moral viewpoint.

Accepted Answer

Ethics is the study of moral principles and values that govern the behavior of individuals and groups in society. It involves analyzing and justifying concepts such as rights, justice, and duties, and considers the impact of actions on others, rather than just personal moral viewpoint.

Question 2

According to Immanuel Kant,we should be able to universalize any particular law or action to determine whether it is ethical.

Accepted Answer

Kant believed in the principle of universalizability, which means that any action or law should be applicable to all rational beings in all situations. This principle helps to determine whether an action is ethical or not.

Question 3

Which of the following uses the utilitarian test of the greatest good overall?

Accepted Answer

Project D is the only option that clearly results in a net positive outcome without significant negative consequences, such as workforce reduction, increased cost of living, or environmental damage, aligning with the utilitarian principle of the greatest good for the greatest number.

Question 4

According to Josephson,if there is no such decision that satisfies the greatest number of core values,one should try to determine which decision delivers the greatest good to the various stakeholders.

Accepted Answer

According to Josephson, if there is no decision that satisfies the greatest number of core values, one should try to determine which decision delivers the greatest good to the various stakeholders.

Question 5

What is legal is not necessarily ethical and what is ethical is not necessarily legal.

Accepted Answer

Legal and ethical considerations are two separate concepts that can overlap but do not always align. Actions can be legal but still be considered unethical, such as lying or breaking promises. Similarly, actions can be ethical but still be illegal, such as civil disobedience.

Question 6

There are many professional ethics codes because they provide goals that help provide excellent service to customers.

Accepted Answer

The answer of There are many professional ethics codes because...

Question 7

_____ describes what rule or principle,if followed regularly,will create the greatest good.

Accepted Answer

Rule utilitarianism holds that following a set of rules or principles consistently will lead to the greatest good for the greatest number of people. This approach prioritizes the consequences of actions in terms of overall utility, but emphasizes the importance of universalizing ethical norms and guidelines. Deontology is another ethical approach, but it prioritizes adherence to moral duty and rules regardless of their consequences. Social justice, social contract theory, and act utilitarianism are also ethical approaches, but they differ in their focus and emphasis on various ethical principles and considerations.

Question 8

According to the sum total of utilities,we can be satisfied if an act provides the greatest utility to an individual even if it does not provide the greatest utility to society as a whole.

Accepted Answer

The principle of the sum total of utilities focuses on maximizing happiness or utility for the greatest number of people, not just for an individual, even if that act benefits the individual greatly.

Question 9

A manager's fiduciary duty refers to resisting hostile takeover bids.

Accepted Answer

A manager's fiduciary duty is to act in the best interest of the company and its shareholders. This may include considering and responding to takeover bids, but it does not necessarily mean resisting them at all costs. Ultimately, the decision should be based on what is deemed to be most beneficial for the company and its stakeholders.

Question 10

The agency problem in corporate governance is about how to get managers' interests well aligned with the shareholders' interests.

Accepted Answer

The agency problem arises because managers may have interests that do not align with those of shareholders, such as a desire for job security or perks that may be at odds with maximizing shareholder value. Corporate governance mechanisms, such as performance-based incentives and board oversight, are designed to mitigate this problem and align managerial incentives with shareholder interests.

Question 11

Act utilitarianism describes what rule or principle,if followed regularly,will create the greatest good.

Accepted Answer

Act utilitarianism focuses on the consequences of individual actions and chooses the action that maximizes happiness or well-being, rather than following a rule or principle.

Question 12

According to utilitarianism,results,not rules,are emphasized.

Accepted Answer

Utilitarianism focuses on achieving the greatest good for the greatest number of people, and this is done by emphasizing the results or outcomes of actions rather than strict adherence to rules or principles. It is a consequentialist ethical theory that considers the consequences of actions as the primary basis for moral decision-making.

Question 13

According to the series of observations about corporations,ethics,and corporate culture,the best ethics codes are legalistic or compliance driven.

Accepted Answer

The series of observations suggest that legalistic or compliance-driven ethics codes may not be the best option, as they may incentivize a focus on compliance rather than genuine ethical behavior. Instead, codes that prioritize ethical values and encourage ethical decision-making may be more effective in promoting a positive corporate culture.

Question 14

According to deontology,_____.

Accepted Answer

The answer of According to deontology,_____.
...

Question 15

Which of the following is true for the relationship between rights and duties?

Accepted Answer

The answer of Which of the following is true for...

Question 16

Stakeholders can be economically dependent without having ownership.

Accepted Answer

Economic dependence can occur in various forms such as employment, partnerships, contracts, etc. Ownership is not a necessary condition for economic dependence.

Question 17

Conscious capitalism integrates the viewpoints of stakeholder theory and shareholder primacy.

Accepted Answer

Conscious capitalism, as a business philosophy, acknowledges that the interests of all stakeholders, including customers, employees, suppliers, the local community, and the environment, are important and should be considered alongside the interests of shareholders. This differs from traditional shareholder primacy, which prioritizes maximizing profits for shareholders above all else. Conscious capitalism aims to create long-term value for all stakeholders while still generating profits for shareholders.

Question 18

In the Sears Auto Centers case,the loss of goodwill was real,even though the total amount of money could not be clearly accounted for.

Accepted Answer

The statement is true. Goodwill is a valuable intangible asset that represents the reputation and positive image of a business. In the Sears Auto Centers case, the negative publicity and loss of customer trust resulted in a significant loss of goodwill, even though it was difficult to quantify the exact dollar amount.

Question 19

According to utilitarianism,_____.

Accepted Answer

Utilitarianism emphasizes the importance of the outcome or result of an action rather than the rules or duties surrounding it. The ethical action is one that results in the greatest good for the greatest number of people.

Question 20

If you have a right of free expression,the government has a duty to respect that right,but can put unreasonable limits on it.

Accepted Answer

The government can impose reasonable limits on the right of free expression, especially when it's necessary to protect public safety, order, health, or morals, or the rights and freedoms of others, but these limits must be justified and not be unreasonable.

Quiz 2: Corporate Social Responsibility and Business Ethics