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Les305 Koretz Exam Q&A Study Guide

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This study resource prepares learners for LES 305 Exam 1 by reviewing foundational legal principles and business ethics. Topics include the purposes and sources of law, common law, criminal and civil law, court systems, jurisdiction, legal procedures, ethical theories, ethical decision-making, corporate social responsibility, and stakeholder interests. It reinforces key definitions, legal concepts, and ethical frameworks through exam-focused questions and answers.

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LES 305 Koretz Exam 1


Question 1.
Blanchard and Peele

ANSWER
Is it legal? Is it balanced? How does it make me feel?



Question 2.
Divine Command Theory

ANSWER
Ethical standards are based upon religious beliefs



Question 3.
Ethical Egoism

ANSWER
we all act in our own self interest and limit our judgments to our own conduct, not the conduct of others



Question 4.
Laura Nash

ANSWER
(1) Have you defined the problem accurately? (2) How would you define the problem if you stood on the other side of the fence? (3) How did this occur in the
first place? (4) To whom and what do you give your loyalties as a person and as a member of the corporation? (5) What is your intention in making this
decision? (6) How does this intention compare with the likely results? (7) Whom could your decision or action injure? (8) Can you engage the affected
parties in a discussion of the problem before you make your decision? (9) Are you confident that your position will be as valid over a long period of time as it
seems now? (10) Could you disclose without qualm your decision or action to your boss, your CEO, the board of directors, your family, or society as a
whole? (11) What is the symbolic potential of your action if understood? If misunderstood? (12) Under what conditions would you allow exceptions to your
stand?



Question 5.
Categories of Ethical Dilemmas

ANSWER
a. Taking things that don't belong to you.
b. Saying things you know are not true.
c. Giving or allowing false impressions.
d. Buying influence or engaging in conflicts of interest.
e. Hiding or divulging information.
f. Taking unfair advantage.
g. Committing acts of personal decadence.
h. Perpetrating interpersonal abuse.
i. Permitting organizational abuse.
j. Violating rules.
k. Condoning unethical conduct.
l. Balancing ethical dilemmas.




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