Business Ethics: Ethical Decision Making & Cases 13th Edition by O.C. Ferrell & John Fraedrich | Comprehensive Study Guide & Case Analysis Notes

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Business Ethics Ethical Decision Making and Cases, 13th Edition
By O. C. Ferrell, John Fraedrich, All Chapters 1 - 12

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Part 1: An Overview of Business Ethics 1: The
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Importance of Business Ethics
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2: Stakeholder Relationships, Social Responsibility, and Corporate Governance
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and Social Responsibility Dimensions
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Part 2: Ethical Issues and the Institutionalization of Business Ethics 4: The Institutionalization of
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Business Ethics
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5: Emerging Business Ethics Issues Part 3: The
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Decision-Making Process 6: Ethical Decision Making
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7: Individual Factors: Moral Philosophies and Values
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8: Organizational Factors: The Role of Ethical Culture and Relationships Part 4: Implementing Business
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Ethics in a Global Economy
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9: Developing and Implementing an Effective Ethics Program 10: Global Business Ethics
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Issues
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11: Ethical Leadership
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12: Technology: Ethics and Social Responsibility Issues
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,1: The Importance of Business Ethics
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1. Principles are gh




a. laws and regulations that guide behavior in the world of business.
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b. mores, values, and customs that guide behavior in general.
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c. specific and pervasive boundaries for behavior that are universal and absolute.
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d. theobligations businesses assume to maximize their positiveimpact and minimize their negative
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impact on stakeholders.
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e. the mores, values, and customs that parents teach their children.
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ANSWER: c
POINTS: 1
DIFFICULTY: Easy
REFERENCES: p. 5 gh




LEARNING OBJECTIVES: LO: 1-1 - Explore conceptualizations ofbusiness ethics from an organizational
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perspective. g h




NATIONAL STANDARDS: United States - BUSPROG: Ethics gh gh gh g h gh gh gh gh




STATE STANDARDS: United States - NONE - DISC: Ethical Responsibilities -Ethical Responsibilities
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KEYWORDS: Blooms: Comprehension gh




2. Socialresponsibility is gh gh




a. an organization's obligation to maximize its positive effects and minimize its negative effects on
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stakeholders.
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b. principles and standards that guide behavior in the world of business.
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c. a business's responsibility not to pollute the environment.
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d. abusiness's responsibility tomanufacture products that function properly.
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e. charitable contributions made by a business to enhance its image.
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ANSWER: a
POINTS: 1
DIFFICULTY: Easy
REFERENCES: p. 23 gh




LEARNING OBJECTIVES: LO: 1-4 - Gain insight into the extent of ethical misconduct in the workplace and the
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pressures for unethical behavior. g h gh gh gh




NATIONAL STANDARDS: United States - BUSPROG: Ethics gh gh gh g h gh gh gh gh




STATE STANDARDS: United States - NONE - DISC: Ethical Responsibilities -Ethical Responsibilities
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KEYWORDS: Blooms: Knowledge gh

, 3. The was/were enacted to restore confidence in financial reporting and business ethics after the gh gh gh gh gh gh gh gh gh gh gh gh




accounting scandals of the early 2000s.
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a. Defense Industry Initiative on Business Ethics and Conduct
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b. Sarbanes-Oxley Act gh




c. Federal Sentencing Guidelines for Organizations gh gh gh gh




d. Foreign Corrupt Practices Act gh gh gh




e. Dodd-Frank Wall Street Reform and Consumer Protection Act gh gh gh gh gh gh gh




ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: p. 13 gh




LEARNING OBJECTIVES: LO: 1-2 - Examine the historical foundations andevolution of business ethics.
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NATIONAL STANDARDS: United States - BUSPROG: Ethics gh gh gh g h gh gh gh gh




STATE STANDARDS: United States - NONE - DISC: Ethical Responsibilities -Ethical Responsibilities
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KEYWORDS: Blooms: Knowledge gh




4. The term business ethics is best described by the following statement:
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a. It is the study and philosophy of human conduct, with an emphasis on determining right and wrong.
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b. It is an "inquiry into the nature and grounds of morality where the term morality is taken to mean
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moral judgments, standards and rules of conduct."
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c. It is the "study of the general nature of morals and of specific moral choices; moral philosophy; and the
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rules or standards governing the conduct of the members of a profession."
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d. It is an organization's obligation to maximize itspositive effects and minimize its negative
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effects on stakeholders.
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e. It comprises the principles, values, and standards that guide behavior in the world of business.
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ANSWER: e
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: p. 5 gh




LEARNING OBJECTIVES: LO: 1-1 - Explore conceptualizations ofbusiness ethics from an organizational
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perspective. g h




NATIONAL STANDARDS: United States - BUSPROG: Ethics gh gh gh g h gh gh gh gh




STATE STANDARDS: United States - NONE - DISC: Ethical Responsibilities -Ethical Responsibilities
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KEYWORDS: Blooms: Knowledge gh