TEST BANK Business Ethics Ethical Decision Making and Cases, 13th Edition By O. C. Ferrell, John Fraedrich, All Chapters 1 - 12

TEST BANK ll




Business Ethics Ethical Decision Making and Cases, 13th Edition
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By O. C. Ferrell, John Fraedrich, All Chapters 1 - 12
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,TABLE OF CONTENTS ll ll ll




Part 1: An Overview of Business Ethics
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1: The Importance of Business Ethics
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2: Stakeholder Relationships, Social Responsibility, and Corporate Governance
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3: Sustainability: Ethical and Social Responsibility Dimensions
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Part 2: Ethical Issues and the Institutionalization of Business Ethics
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4: The Institutionalization of Business Ethics
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5: Emerging Business Ethics Issues
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Part 3: The Decision-Making Process
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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
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Part 4: Implementing Business Ethics in a Global Economy
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9: Developing and Implementing an Effective Ethics Program
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10: Global Business Ethics Issues
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11: Ethical Leadership
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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 ll




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 assumetomaximizetheirpositiveimpactandminimizetheirnegativeimpacton
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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 ll




LEARNING OBJECTIVES: LO:1-1-Explore conceptualizations ofbusiness ethics froman organizational perspective.
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NATIONAL STANDARDS: United States - BUSPROG: Ethics ll l l l l ll ll ll ll




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




2. Social responsibility is
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a. an organization's obligation to maximize its positive effects and minimize its negative effects on 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's responsibility tomanufacture products thatfunction properly.
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e. charitable contributions made byabusiness to enhance its image.
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ANSWER: a
POINTS: 1
DIFFICULTY: Easy
REFERENCES: p. 23 ll




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. ll ll ll ll




NATIONAL STANDARDS: United States - BUSPROG: Ethics ll l l l l ll ll ll ll




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

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



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 ll




c. Federal Sentencing Guidelines for Organizations
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d. Foreign Corrupt Practices Act ll ll ll




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




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




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




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




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 on determining 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 moral
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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 rules or
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standards governing the conduct of the members of a profession."
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d. Itisanorganization's obligation tomaximizeitspositiveeffects andminimize itsnegative effects on
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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 ll




LEARNING OBJECTIVES: LO:1-1-Explore conceptualizations ofbusiness ethics froman organizational perspective.
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NATIONAL STANDARDS: United States - BUSPROG: Ethics ll l l l l ll ll ll ll




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