BUS 4500 Final Exam 1 Questions And
Answers Graded A+.
Ethical Dilemma - Answer A situation in which guiding moral principles cannot determine which course
of action is right or wrong.
Two Approaches to Solve Ethical Dilemmas - Answer 1. Practical Consequences
2. Actions Themselves
Values - Answer Beliefs that incline us to act or choose in one way rather than another. They are our
fundamental beliefs.
Critical characteristics of successful companies - Answer A careful balance between the values, interest,
goals, and objectives of the organization, and the values of the individuals who work for it.
Being aware of your career values - Answer -Identify the kinds of activities, people, and environments
that you most desire in your work.
-Determine which work environments best fit your personal and professional needs and the skills you
would like to develop there.
-Focus on career objectives that are important to both you and potential employers.
-Identify the motivators that provide the drive to accomplish the important goals in your life.
Morals - Answer -Subset of values which we attribute to a system of beliefs. These values get their
authority from something outside the individual (a religious system, political system).
-Answer the question, "how should I live my life?"
-Ex. Stealing is bad, Respect others.
Business Ethics - Answer -the study of how personal moral norms (YOU) apply to the activities and
goals (i.e., the behaviors) of commercial enterprise
-Has a heavy emphasis on individual morality
-Deals with 3 basic areas of managerial decision making:
, 1. Choices about what the laws should be and whether to follow them
2. Choices about economic and social issues outside the domain of law.
3. Choices about the priority of self-interest over the company's interests
Normative Model for ethical decision making - Answer 1. What are the facts?
2. Who is affected? How?
3. What are the alternative courses of action? Moral imagination
4. How will this decision be judged by others. NYT test
5. Make decision
Business Ethics and Performance - Answer Truly exceptional and enduring companies all place great
emphasis on a set of core values, enduring tenets, that won't be compromised for financial gain or short-
term expediency.
Etishpere - Answer The World's Most Ethical Companies® designation recognizes companies that truly
go beyond making statements about doing business "ethically" and translate those words into action.
Ethos - Answer -The word ethics is derived from this Greek word
-Meaning customary or conventional
-To be ethical, in the sense of ethos, is to confirm to what is typically done, to obey the conventions and
rules of one's society and religion.
Ethics - Answer For many people, ethics involves following the beliefs, attitudes, and values that are
customary in their culture.
Milton Friedman - Answer -The roles of business is to: maximize profits within the law
-1970s business students would have learned: "The business of business is business"
-Argued against CSR, "CSR initiatives imply negative net contributions to the bottom line."
-Friedman's argument fails today (A changing ethos)
Answers Graded A+.
Ethical Dilemma - Answer A situation in which guiding moral principles cannot determine which course
of action is right or wrong.
Two Approaches to Solve Ethical Dilemmas - Answer 1. Practical Consequences
2. Actions Themselves
Values - Answer Beliefs that incline us to act or choose in one way rather than another. They are our
fundamental beliefs.
Critical characteristics of successful companies - Answer A careful balance between the values, interest,
goals, and objectives of the organization, and the values of the individuals who work for it.
Being aware of your career values - Answer -Identify the kinds of activities, people, and environments
that you most desire in your work.
-Determine which work environments best fit your personal and professional needs and the skills you
would like to develop there.
-Focus on career objectives that are important to both you and potential employers.
-Identify the motivators that provide the drive to accomplish the important goals in your life.
Morals - Answer -Subset of values which we attribute to a system of beliefs. These values get their
authority from something outside the individual (a religious system, political system).
-Answer the question, "how should I live my life?"
-Ex. Stealing is bad, Respect others.
Business Ethics - Answer -the study of how personal moral norms (YOU) apply to the activities and
goals (i.e., the behaviors) of commercial enterprise
-Has a heavy emphasis on individual morality
-Deals with 3 basic areas of managerial decision making:
, 1. Choices about what the laws should be and whether to follow them
2. Choices about economic and social issues outside the domain of law.
3. Choices about the priority of self-interest over the company's interests
Normative Model for ethical decision making - Answer 1. What are the facts?
2. Who is affected? How?
3. What are the alternative courses of action? Moral imagination
4. How will this decision be judged by others. NYT test
5. Make decision
Business Ethics and Performance - Answer Truly exceptional and enduring companies all place great
emphasis on a set of core values, enduring tenets, that won't be compromised for financial gain or short-
term expediency.
Etishpere - Answer The World's Most Ethical Companies® designation recognizes companies that truly
go beyond making statements about doing business "ethically" and translate those words into action.
Ethos - Answer -The word ethics is derived from this Greek word
-Meaning customary or conventional
-To be ethical, in the sense of ethos, is to confirm to what is typically done, to obey the conventions and
rules of one's society and religion.
Ethics - Answer For many people, ethics involves following the beliefs, attitudes, and values that are
customary in their culture.
Milton Friedman - Answer -The roles of business is to: maximize profits within the law
-1970s business students would have learned: "The business of business is business"
-Argued against CSR, "CSR initiatives imply negative net contributions to the bottom line."
-Friedman's argument fails today (A changing ethos)
