Question 1

According to the Ethics and Compliance Officers Association survey,79% document that a CEOs chief responsibility is the management of program documentation.

Accepted Answer

The answer of According to the Ethics and Compliance Officers...

Question 2

A transparent organization tends to avoid open and honest communication with all stakeholders.

Accepted Answer

A transparent organization is one that values open and honest communication with all stakeholders. Avoiding such communication goes against the principles of transparency.

Question 3

With standards of behavior specified in the code of ethics,the threats of punishment must be balanced with promised rewards for successful behavior.

Accepted Answer

The statement is true. The code of ethics outlines the standards of behavior expected from individuals or organizations. It also includes consequences or punishments for violating those standards. However, to encourage adherence to the code, rewards or incentives should also be offered for successful behavior. Balancing punishment with rewards can create a more positive and proactive approach to ethical behavior.

Question 4

When operating a business in the current environment,holding on to a promise to run an ethical business can be ______.

Accepted Answer

In the current environment, businesses face increasing pressure from stakeholders to prioritize profit over ethical considerations. Keeping a commitment to ethical business practices amidst these challenges can be difficult and require significant effort and resources.

Question 5

Any organization's commitment to ethical performance must be watched constantly.

Accepted Answer

Any organization must continuously monitor and evaluate its ethical performance to ensure that it remains committed to ethical practices and principles. Failing to do so may result in ethical lapses or violations that can damage the reputation of the organization and undermine the trust of stakeholders.

Question 6

The chief responsibility of an ethics officer is assessing and reviewing vulnerabilities.

Accepted Answer

The chief responsibility of an ethics officer is to oversee and ensure that an organization adheres to ethical standards and practices, not specifically to assess and review vulnerabilities.

Question 7

Smaller companies need to include their code of ethics as part of any strategic planning exercise to make sure it is as up to date as possible.

Accepted Answer

Including the code of ethics as part of the strategic planning exercise helps smaller companies ensure that their ethical standards are aligned with their business goals and updated to reflect any changes in the industry or society.

Question 8

Many organizations have been prompted to introduce or modify their code of ethics after witnessing other CEOs public embarrassment.

Accepted Answer

The answer of Many organizations have been prompted to introduce...

Question 9

An ethics policy commits a company to doing the right thing for all of its stakeholders; so a company must share that message with all of its stakeholders.

Accepted Answer

An ethics policy is a commitment that a company makes to its stakeholders to do the right thing. Therefore, it is essential for the company to share this message with all of its stakeholders. By doing so, it can establish trust, credibility, and integrity with its stakeholders.

Question 10

Typically,it is difficult for the code of ethics to become taken for granted,so other business issues normally do not to take priority over the code.

Accepted Answer

It is possible for business issues to take priority over the code of ethics, leading to the code being neglected or disregarded. It is important for companies to regularly reinforce the importance of ethical behavior and ensure that it is integrated into their overall business strategy.

Question 11

Organizational integrity is a characteristic of publicly committing to the highest professional standards and sticking to that commitment.

Accepted Answer

Organizational integrity refers to a company's commitment to maintaining the highest ethical and professional standards, and following through on that commitment. This includes being transparent, honest, and accountable in all business practices.

Question 12

The increased attention of corporate scandals has provided only positive results.

Accepted Answer

Corporate scandals can lead to negative outcomes such as loss of trust, financial losses, and stricter regulations, despite any positive changes they might also bring.

Question 13

The continued growth of technology will present new situations for ethical dilemmas.

Accepted Answer

As technology continues to evolve and advance, it will inevitably introduce new situations and challenges that will require careful consideration of ethical implications. For example, emerging technologies such as artificial intelligence, genetic engineering, and virtual reality may raise concerns about issues including privacy, bias, and the responsible use of power. As such, it is likely that ethical dilemmas related to technology will continue to arise in the future.

Question 14

When organizational policies are driven by events and/or a fear of future events,these are proactive ethical policies.

Accepted Answer

Proactive ethical policies are driven by values and principles that guide good decision-making and behavior, not just reactive measures based on fear or past events.

Question 15

When considering how to manage the reputation and policies of an organization,the commitment to doing the right thing becomes more about organizational integrity than any sense of a written ethics.

Accepted Answer

Organizational integrity is a culture that goes beyond written ethics and is demonstrated through the actions and decisions of the organization. It involves making ethical choices and acting in accordance with the values and principles that guide the organization. Therefore, managing the reputation and policies of an organization requires a commitment to organizational integrity.

Question 16

Which of the following is NOT a characteristic of the market?

Accepted Answer

Patient stockholders are not typically considered a characteristic of the market, as markets are often driven by more immediate and aggressive factors like competition, creditor demands, and vendor actions.

Question 17

With standards of behavior specified in the code of ethics,along with the punishment served for failing to follow those standards,an organization's ethics program can become widely accepted quickly.

Accepted Answer

An organization's ethics program requires more than just specifying standards and punishments; it needs effective communication, training, and a culture that supports ethical behavior for widespread acceptance.

Question 18

Winning the trust and confidence of all your stakeholders is a great achievement in today's business world,and once you have their trust,keeping it over the long term is not such a hard thing to accomplish.

Accepted Answer

Maintaining trust over the long term requires continuous effort, transparency, and adaptability to changing circumstances, making it a challenging task.

Question 19

True ethical policies are proactive when the company develops a clear sense of what it stands for as an ethical organization,the extent of the actions it will take to get there,and what ethics means to that company and its stakeholders.

Accepted Answer

True ethical policies are indeed proactive and involve a company developing a clear understanding of its values, actions, and stakeholder interests regarding ethical conduct.

Question 20

In order to build a reputation of trust and commitment to customers,a company should seldom share the message of doing the right thing for all of its stakeholders with some of its stakeholders outside the company.

Accepted Answer

A company should consistently communicate its commitment to doing the right thing for all of its stakeholders, both internally and externally. Internal stakeholders (employees) and external stakeholders (customers, shareholders, suppliers, etc.) all need to be aware of the company's values and principles in order to establish trust and commitment.

Quiz 10: Making It Stick - Doing Whats Right in a Competitive Market