MBA 5300 – Final || 100% Error-free Solutions

Law correct answers A system of principles and rules of human conduct. In a business setting, law represents "rules of the game", the framework for business operations and decision making ------- are generally based on ------ but they are not the same thing. correct answers Ethics, Moral Principles Ethics correct answers Externally imposed guidelines for behavior that is considered right or wrong. Includes an individual's, an org's, or a profession's (attorneys, physicians, accountants) code of ethics Examples of behavior that may be LEGAL but that people may consider UNETHICAL correct answers -Lying to your spouse/family or cheating on spouse - Lying to your boss and subordinates Siedel's View from the Balcony correct answers Strategic understanding of the interaction between culture and society may lead to competitive advantage for businesses Moral Absolutism correct answers Belief in absolute standards of right and wrong behavior, regardless of context—universal principles by which all peoples may be judged. For example, variations on the "Golden Rule" are found in nearly all of the world's major religions. But in reality, moral principles vary greatly among cultures, religions, and nations. Moral Pluralism correct answers Belief in tolerance of others' moral principles, but without concluding that all views are equally valid—competing values may not provide a definitive answer about what is right. Moral Relativism correct answers Belief that there are no absolute moral values, and, therefore, we must accept each other's differing values. But many philosophers disagree that we cannot condemn practices like bribery, even if they may be culturally accepted in one society. Norms correct answers Shared standards of behavior for individuals, groups, or an organization Values correct answers Broad guides to action based on deeply held convictions about good and bad. Values stem from our beliefs. For example, if you believe in the American Dream, you may value wealth. Deontology correct answers rightness of the action is based on conformance to a principle/duty—motives matter