BUSINESS ETHICS BMAL 590 QUESTIONS WITH 100% CORRECT ANSWERS

Business Ethics CORRECT ANSWER comprises principles and standards that guide behavior in the world of business. Investors, employees, customers, interest groups, the legal system, and the community often determine whether a specific action is right or wrong -- ethical or unethical Ethical Issue Intensity CORRECT ANSWER can be defined as the relevance or importance of an ethical issue in the eyes of the individual, work group, and/or organization. Research suggests that individuals are subject to six "spheres of influence" when confronted with ethical choices: the workplace, family, religion, legal system, community, and profession. Ethical Decision Making - Individual Factors CORRECT ANSWER Gender Education Nationality Age Locus of Control CORRECT ANSWER This factor relates to individual differences in relation to a generalized belief about how one is affected by internal versus external events or reinforcements. Those who believe in external control (that is, externals) see themselves as going with the flow because that is all they can do. Conversely, those who believe in internal control (that is, internals) believe that they control the events in their lives by their own effort and skill. These individuals view themselves as masters of their destinies and trust in their capacity to influence their environment. Corporate Culture CORRECT ANSWER can be defined as a set of values, beliefs, goals, norms, and ways of solving problems that members (employees) of an organization share Opportunity Factors CORRECT ANSWER Opportunity describes the conditions in an organization that limit or permit ethical or unethical behavior. Opportunity results from conditions that either provide rewards, whether internal or external, or fail to erect barriers against unethical behavior. Opportunity relates to individuals' immediate job context: where they work, with whom they work, and the nature of the work The Role of Leadership In Developing An Ethics Program CORRECT ANSWER 1. Conduct a rigorous self-assessment of the firm's values and its existing ethics and compliance program. 2. Maintain commitment from top managers. 3. Publish, post, and make codes of ethics available and understandable. 4. Communicate ethical standards through multiple channels (for example, paper documents and web pages). 5. Provide timely training to reinforce knowledge.