Exam (elaborations) Business Ethics Ethical Decision Making Business Ethics

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Business Ethics Ethical Decision Making and Cases, 13th Edition
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By O. C. Ferrell, John Fraedrich, All Chapters1 - 12
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,TABLEOFCONTENTS v v vv




Part 1: An Overview of Business Ethics 1: The
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Importance of Business Ethics
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2:StakeholderRelationships, SocialResponsibility, and CorporateGovernance
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and Social ResponsibilityDimensions
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Part 2: Ethical Issues and the Institutionalization of Business Ethics 4: The Institutionalization of
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Business Ethics
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5: Emerging Business Ethics Issues Part 3: The Decision-
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Making Process 6: Ethical Decision Making
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7: Individual Factors: Moral Philosophies and Values
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8: Organizational Factors: The Role of Ethical Culture and Relationships Part 4: Implementing Business
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Ethics in a Global Economy
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9: Developing and Implementing an Effective Ethics Program 10: Global Business Ethics
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Issues
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11: EthicalLeadership
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12: Technology: Ethics and Social Responsibility Issues
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,1: The Importance of Business Ethics
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1. Principles are vv




a. laws and regulations that guide behavior in the world of business.
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b. mores, values, and customs that guide behavior in general.
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c. specific and pervasive boundaries for behavior that are universal and absolute.
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d. theobligations businesses assumetomaximize theirpositiveimpactand minimizetheirnegative
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impacton stakeholders.
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e. the mores, values, and customs that parents teach their children.
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ANSWER: c
POINTS: 1
DIFFICULTY: Easy
REFERENCES: p. 5 vv




LEARNING OBJECTIVES: LO:1-1-Explore conceptualizations ofbusiness ethics fromanorganizational
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perspective. v v




NATIONAL STANDARDS: United States - BUSPROG: Ethics vv vv vv v v vv vv vv vv




STATE STANDARDS: UnitedStates -NONE -DISC: Ethical Responsibilities -Ethical Responsibilities
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KEYWORDS: Blooms: Comprehension vv




2. Socialresponsibility is v vv




a. an organization's obligation to maximize its positive effects and minimize its negative effects on
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stakeholders.
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b. principles and standards that guide behavior in the world of business.
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c. a business's responsibility not to pollute the environment.
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d. abusiness'sresponsibility tomanufacture products that function properly.
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e. charitable contributions made by a business to enhance its image.
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ANSWER: a
POINTS: 1
DIFFICULTY: Easy
REFERENCES: p. 23 vv




LEARNING OBJECTIVES: LO: 1-4 - Gain insight into the extent of ethical misconduct in the workplace and the
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pressures for unethical behavior. v v vv vv vv




NATIONAL STANDARDS: United States - BUSPROG: Ethics vv vv vv v v vv vv vv vv




STATE STANDARDS: UnitedStates -NONE -DISC: Ethical Responsibilities -Ethical Responsibilities
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KEYWORDS: Blooms: Knowledge vv

, 3. The was/were enacted to restore confidence in financial reporting and business ethics after the vv vv vv vv vv vv vv vv vv vv vv vv




accounting scandals of the early 2000s.
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a. Defense Industry Initiative on Business Ethics and Conduct
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b. Sarbanes-Oxley Act vv




c. Federal Sentencing Guidelines for Organizations vv vv vv vv




d. Foreign Corrupt Practices Act vv vv vv




e. Dodd-Frank Wall Street Reform and Consumer Protection Act vv vv vv vv vv vv vv




ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: p. 13 vv




LEARNING OBJECTIVES: LO: 1-2- Examine thehistorical foundations andevolution ofbusiness ethics.
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NATIONAL STANDARDS: United States - BUSPROG: Ethics vv vv vv v v vv vv vv vv




STATE STANDARDS: UnitedStates -NONE -DISC: Ethical Responsibilities -Ethical Responsibilities
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KEYWORDS: Blooms: Knowledge vv




4. The term business ethics is best described by the following statement:
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a. Itis thestudy and philosophy of human conduct, with an emphasis ondetermining right and wrong.
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b. It is an "inquiry into the nature and grounds of morality where the term morality is taken to mean
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moral judgments, standards and rules of conduct."
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c. It is the "study of the general nature of morals and of specific moral choices; moral philosophy; and the
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rules or standards governing the conduct of the members of a profession."
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d. Itisanorganization's obligation tomaximize itspositive effects andminimize itsnegative effects
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on stakeholders.
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e. Itcomprises the principles, values, and standards that guide behavior inthe world of business.
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ANSWER: e
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: p. 5 vv




LEARNING OBJECTIVES: LO:1-1-Explore conceptualizations ofbusiness ethics fromanorganizational
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perspective. v v




NATIONAL STANDARDS: United States - BUSPROG: Ethics vv vv vv v v vv vv vv vv




STATE STANDARDS: UnitedStates -NONE -DISC: Ethical Responsibilities -Ethical Responsibilities
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KEYWORDS: Blooms: Knowledge vv