ELC Module 1 Test Questions and Answers All Correct

ELC Module 1 Test Questions and Answers All Correct What similarity do ethical leaders share that contributes to their firm's ethical cultures? - Answer-they have the ability to align employees behind a common vision Which statement is true about the ethical decision-making of leaders? - Answer-ethical leaders must often make trade-offs regarding stockholder demands Why might ethics mistakes actually improve an organization in the long-run? - Answer-they give the firm an opportunity to learn from its mistakes According to Howard Schultz, which of the following is true about ethical leadership? - Answer-it is about finding a way to balance between profitability and social consciousness Based on observations of JP Morgan CEO James Dimon's reaction to a crisis, what is a good way to manage a crisis? - Answer-act quickly and take responsibility for the issues What is the fate of ethically-challenged CEOs? - Answer-they often face reputational damage What likely contributed to the flawed corporate culture at Countrywide Financial? - Answer-a flawed incentive system What constitutes a conflict of interest? - Answer-the best interests of an individual are placed above the best interests of the company In this module, we described five examples of ethically-challenged CEOs. what is not one of the mistakes they made? - Answer-giving employees more decision-making authority Which of the following statements is true about ethics? - Answer-unethical conduct is not always black and white Which definition best describes organizational ethical leadership - Answer-influencing others to ethically achieve company goals Why would an organization not want to rely solely on an individual's personal ethics? - Answer-individual personal values differ significantly and can result in unethical conduct What is organizational ethics? - Answer-right or wrong, acceptable or unacceptable conduct in an organizational environment Which of these is the least likely to influence an individual's personal ethics? - Answer-regulatory guidance What is the first step organizations must take to meet the needs of their stakeholders? - Answer-gather data on the company's stakeholders what is true about how ethical leaders should perceive stakeholders? - Answer-ethical leaders view stakeholders as important co-contributors of firm value why would is be a mistake to ignore secondary stakeholders? - Answer-they can be an ally or threat to the organization