Business Ethics Midterm (Chapters 1-5) ACTUAL UPDATED QUESTIONS AND
CORRECT ANSWERS
Anyone who affects or is affected by decisions made Stakeholders
within the firm, for better or for worse.
Refers to the values, norms, beliefs, and expectations that Ethics
determine how people within a culture live and act. The
discipline that systematically studies questions of how we
ought to live our lives.
Provides a descriptive and empirical account of those Descriptive Ethics
standards that actually guide behavior, as opposed to
those standards that should guide behavior; "How
people DO act.".
Deals with norms and standards of appropriate and Normative Ethics
proper (normal) behavior; establishes the guidelines for
how people should act; "How people SHOULD act.".
Those aspects of ethics involving personal, individual Morality
decision making.
, One's completeness within themselves, often derived Personal Integrity
from the consistency or alignment of actions with deeply
held beliefs.
The area of ethics concerned with how we should live Social Ethics
together with others and how social organizations ought
to be structured; involves questions of political,
economic, civic, and cultural norms aimed at promoting
human well-being.
Those standards or guidelines that establish appropriate Norms
and proper behavior; can be established by such diverse
perspectives as economics, etiquette, or ethics.
The underlying beliefs that cause us to act or to decide Values
one way rather than another.
Those properties of life that contribute to human well- Ethical Values
being and a life well lived; includes such things as:
happiness, respect, dignity, integrity, freedom,
companionship, and health.
A process to identify potential events that may affect the Risk Assessment
entity, and manage risk to be within its risk appetite, to
provide reasonable assurance regarding the achievement
of entity objectives.
Reasoning about what one OUGHT to do. Practical Reasoning
Reasoning aimed at establishing truth and therefore at Theoretical Reasoning
what we ought to believe.
Individuals within a business setting are often in situations Personal and Professional Decision Making
in which they must make decisions both from their own
personal point of view and from the perspective of the
specific role they fill within an institution. Ethically
responsible decisions require an individual to recognize
that these perspectives can conflict and that a life of
moral integrity must balance the personal values with the
professional role-based values and responsibilities.
CORRECT ANSWERS
Anyone who affects or is affected by decisions made Stakeholders
within the firm, for better or for worse.
Refers to the values, norms, beliefs, and expectations that Ethics
determine how people within a culture live and act. The
discipline that systematically studies questions of how we
ought to live our lives.
Provides a descriptive and empirical account of those Descriptive Ethics
standards that actually guide behavior, as opposed to
those standards that should guide behavior; "How
people DO act.".
Deals with norms and standards of appropriate and Normative Ethics
proper (normal) behavior; establishes the guidelines for
how people should act; "How people SHOULD act.".
Those aspects of ethics involving personal, individual Morality
decision making.
, One's completeness within themselves, often derived Personal Integrity
from the consistency or alignment of actions with deeply
held beliefs.
The area of ethics concerned with how we should live Social Ethics
together with others and how social organizations ought
to be structured; involves questions of political,
economic, civic, and cultural norms aimed at promoting
human well-being.
Those standards or guidelines that establish appropriate Norms
and proper behavior; can be established by such diverse
perspectives as economics, etiquette, or ethics.
The underlying beliefs that cause us to act or to decide Values
one way rather than another.
Those properties of life that contribute to human well- Ethical Values
being and a life well lived; includes such things as:
happiness, respect, dignity, integrity, freedom,
companionship, and health.
A process to identify potential events that may affect the Risk Assessment
entity, and manage risk to be within its risk appetite, to
provide reasonable assurance regarding the achievement
of entity objectives.
Reasoning about what one OUGHT to do. Practical Reasoning
Reasoning aimed at establishing truth and therefore at Theoretical Reasoning
what we ought to believe.
Individuals within a business setting are often in situations Personal and Professional Decision Making
in which they must make decisions both from their own
personal point of view and from the perspective of the
specific role they fill within an institution. Ethically
responsible decisions require an individual to recognize
that these perspectives can conflict and that a life of
moral integrity must balance the personal values with the
professional role-based values and responsibilities.
