Question 1

What are business ethics?

Accepted Answer

Business ethics are the moral principles and standards that guide behavior in the world of business. While the other choices may also involve ethics, they do not specifically pertain to the ethical principles within the realm of business.

Question 2

When Pam must decide whether something is right or wrong,she considers the writings of the ancient teachers Confucius and Marcus Aurelius,whose works she has read many times.These books form the basis of Pam's

Accepted Answer

Pam's reliance on the writings of Confucius and Marcus Aurelius suggests that she subscribes to a moral philosophy that is informed by their teachings. This moral philosophy guides her decisions about what is right or wrong.

Question 3

Which philosophy would be the most likely to emphasize that there are different ethics in different cultures?

Accepted Answer

Relativism is the philosophy that ethical truths are not universal and that morality differs from society to society, culture to culture, and person to person. Therefore, it would be the most likely philosophy to emphasize that there are different ethics in different cultures. Universalism, on the other hand, holds that there are objective ethical standards that apply universally, regardless of cultural or individual differences. Utilitarianism and egoism are not directly related to cultural differences in ethics. Pragmatism is a philosophical approach that focuses on practical solutions rather than abstract principles, and it may or may not emphasize cultural differences in ethics depending on the context.

Question 4

The ethical system known as egoism is similar to Adam Smith's concept of the invisible hand in business.

Accepted Answer

Both egoism and the invisible hand rely on individuals pursuing their own self-interest as a means of benefiting the greater society. In egoism, each person acts to maximize their own well-being, while in the invisible hand, each person's pursuit of profit leads to the overall wealth of society.

Question 5

Integrity-based ethics programs are primarily concerned with the avoidance of illegality.

Accepted Answer

Integrity-based ethics programs focus on more than just avoiding illegality. They also emphasize the importance of doing what is morally right and ethical in all aspects of business conduct.

Question 6

Which ethical system states that the greatest good for the greatest number should be the overriding concern of decision makers?

Accepted Answer

This ethical system is called utilitarianism, which prioritizes the outcome or consequences of an action. It weighs the benefits versus the harms of a decision and chooses the course of action that results in the greatest good for the greatest number of people.

Question 7

According to virtue ethics,moral individuals can transcend society's rules by applying personal virtues.

Accepted Answer

Virtue ethics emphasizes the cultivation of personal virtues such as honesty, compassion, and courage, which can guide individuals to make moral decisions and behave in ways that exceed societal rules and expectations.

Question 8

Esosa believes that ethical behavior is anything that provides the maximum benefit for herself.What ethical system does Esosa subscribe to?

Accepted Answer

Esosa subscribes to egoism, as she believes that ethical behavior is anything that provides maximum benefit for herself. Egoism is the ethical theory that individuals should act in their own self-interest and that promoting one's own interests is a moral good.

Question 9

A good process for ethical decision making begins with considering the legal requirements.

Accepted Answer

While legal requirements are important to consider, ethical decision making involves considering a range of factors beyond just what is required by law. This includes considering the impact on stakeholders, values and principles, and potential consequences.

Question 10

Individuals can be ethical leaders if they have a strong moral character,regardless of which issues attract their attention.

Accepted Answer

The answer of Individuals can be ethical leaders if they...

Question 11

Once a year at the annual employee meeting,the president of Federated Finance reminds all his employees of his belief that there are certain values everyone can agree on,such as honesty,fairness,and respect for life.Which ethical system does the president believe in?

Accepted Answer

The president believes in universalism because he believes that certain values, such as honesty, fairness, and respect for life, are universally applicable and agreed upon. Universalism holds that there are ethical standards that apply universally to all people and cultures.

Question 12

A situation,problem,or opportunity in which an individual is obligated to choose among several actions that must be evaluated as morally right or wrong is a(n)________ issue.

Accepted Answer

The given scenario involves evaluating actions as morally right or wrong, which falls under ethical issues. While legal and relative aspects may come into play, the primary concern is determining what is morally right in this situation. Values may also influence the decision-making process, but they are not the defining factor. Therefore, option E - ethical, is the best choice.

Question 13

Values are the rules that govern people's behavior and identify the "goods" that are worth seeking.

Accepted Answer

The answer of Values are the rules that govern people's...

Question 14

Sustainable growth refers to economic growth and development that meet the organization's present needs without harming the ability of future generations to meet their needs.

Accepted Answer

Sustainable growth aims to balance economic development with environmental and social considerations, ensuring that resources are used in a way that does not compromise the well-being of future generations.

Question 15

Profit maximization and corporate social responsibility necessarily lead to opposing corporate policies.

Accepted Answer

Profit maximization and corporate social responsibility can be aligned, as socially responsible practices can lead to long-term profitability through enhanced reputation, customer loyalty, and operational efficiencies.

Question 16

Most people have unconscious biases that favor themselves and their own group.

Accepted Answer

Studies have shown that due to socialization and cultural norms, individuals tend to have unconscious biases that favor their own group or identity. These biases can lead to discriminatory behavior and attitudes towards other groups. It is important to be aware of these biases and actively work to overcome them.

Question 17

Bill,the manager of Just Right Gelato,acts with integrity and honesty because he believes in a system of rules that governs the ordering of values.The system of rules that directs Bill's behavior is known as

Accepted Answer

Ethics is the system of moral principles that governs an individual's behavior, and it emphasizes the concepts of honesty, integrity, and fairness. Bill's behavior of acting with honesty and integrity is guided by his ethical beliefs and principles. Therefore, the best choice is D) ethics.

Question 18

Vijay works for a food manufacturer that plans to move to Mexico to take advantage of the cheaper labor.The CEO rationalizes this decision by claiming that many other companies are making similar moves.Vijay counters that the number of people who will be harmed by losing their jobs will be more than the number of people who will be helped by the relocation.Which of the following ethical systems does this debate contrast?

Accepted Answer

The debate contrasts relativism, which holds that ethical principles are relative to the individual or group, with utilitarianism, which holds that the ethical action is the one that produces the greatest good for the greatest number.

Question 19

Which of the following was developed by a group of international executives,including business leaders from Japan,Europe,and the United States?

Accepted Answer

The Caux Principles were developed by a group of international executives, including business leaders from Japan, Europe, and the United States, in response to the global call for corporate responsibility.

Question 20

A transcendent education involves balancing self-interest with responsibility to others.

Accepted Answer

A transcendent education emphasizes the development of not only intellectual abilities, but also emotional intelligence, ethical behavior, and social responsibility. It focuses on cultivating empathy and compassion for others, as well as a sense of purpose beyond personal gain. Therefore, balancing self-interest with responsibility to others is an important aspect of transcendent education.

Quiz 5: Ethics, corporate Responsibility, and Sustainability