BMAL 590 Business Ethics Exam 2022 with complete solution

BMAL 590 Business Ethics Exam 2022 with complete solution The study of business ethics is important to better understand all of the following EXCEPT That business ethics is merely an extension of an individual's own personal ethics Social responsibility is An organization's obligation to maximize its positive effects and minimize its negative effects on stakeholders Which of the following was (were) developed in 1980s to encourage corporate support for ethical conduct by establishing a method for discussing "best practices?" Defense Industry Initiative on Business Ethics and Conduct The ________ was (were) enacted to restore confidence in financial reporting and business ethics after the accounting scandals of the early 2000s Sarbanes-Oxley Act In the history of business ethics, the 1990s can be best described as a time when business ethics was Institutionalized Which one of the following is not one of the rewards for being ethical and socially responsible in business? Greater employee turnover When employees see honesty, respect, and trust applied frequently in the workplace, they All of these Most strong organizational climates focus on the value of placing ________ interests first customers' To be successful, relationships with investors must rest on dependability, _________, and commitment Trust The rise of consumerism occurred during the 1960s Which of the following is the first step in the ethical decision-making process? Recognizing that an issue requires an individual or work group to make a choice that ultimately will be judged by stakeholders as right or wrong Which of the following is not one of six "spheres of influence" to which individuals are subject when confronted with an ethical issue? Education Which statement best describes the relationship between those who believe in external control (externals) and those who believe in internal control (internals)? Externals believe in going with the flow, while internals believe that they control events in their lives by their own effort and skill Obedience to authority is part of which of the following components of the ethical decision-making framework? Superiors External rewards and internal rewards relate to which part of the ethical decision-making framework? Opportunity It is impossible to agree on __________ judgments about what is ethical Normative The role of leadership in developing an ethics program includes all of the following except Carefully archiving and not distributing the ethical policies of the firm The ________ leader values people, their emotions, and their needs, and relies on friendship and trust to promote flexibility, innovation, and risk-taking Affiliative What is difference between transactional leaders and transformational leaders? The former attempts to create employee satisfaction through negotiating or bartering, while the latter strive to raise employees' level of commitment and foster trust and motivation Which of the following statements is false regarding strong ethical leaders? Strong ethical leaders are reactive An unconscious reference to one's own cultural values, experiences, and knowledge is referred to as the Self-reference criterion Cultural differences in ________ may result in international ethical issues if a businessperson stands far away from a customer during a negotiations and customer regards it as a personal insult Body language The defense of paying bribes and other questionable practices in other countries is called Cultural relativism Which of the following created an international ethics code? Caux Round Table Which of the following is not a criticism of or charge against multinational corporations? They pay high taxes everywhere Discrimination in international business Is often justified on the basis of local cultural norms and values Gouging is A price increase that exceeds the costs of additional expenditures, such as transportation and taxes All of the following are listed as steps that companies can take to address discrimination issues except List all possible discrimination acts in the policy Which of the following prohibits U.S. companies from offering or providing payments to officials of foreign governments for the purpose of obtaining or retaining business abroad? Foreign Corrupt Practices Act Traditionally safe and adequately tested products may still harm consumers and thus create ethical issues because Of illiteracy, unsanitary conditions, or cultural values _________ means using or transferring illegally received funds in a financial transaction to conceal their source or ownership or to facilitate an illegal activity Money laundering Which of the following has the power to enact legally binding ground rules for international commerce and trade policy? World Trade Organization The primary responsibility of ensuring that ethical, legal, and social standards are adhered to within a business rests with The management board How can a company align the interests of its owner with those of its managers through executive compensation? By basing compensation on performance and achievements of goals The agency problem, wherein ownership and control of a corporation are separate, is associated with The shareholder model of corporate governance Which of the following are typically not secondary stakeholders? Customers Assessment of corporate culture will help with all of the following except Determining the line of business Those who have a claim on some aspects of a firm's products, operations, markets, industry, or outcomes are known as Stakeholders A stakeholder orientation is not complete unless it includes Activities that actually address stakeholder issues Which of the following are not one of the four hierarchical levels of social responsibility? Communal The reputation of a company as a good corporate citizen is influenced by The attitude and behavior of the company toward the community of which the company is part Fiduciaries are persons in positions of ________ who use ________ and _________ in acting on behalf of the best interests of the ________ Trust; due care; loyalty; organization The three main components of corporate governance are Accountability, oversight, and control Fostering ethical decision making within an organization requires improving the firm's ethical standards and Terminating unethical persons Which of the following statements about codes of conduct is false? They guarantee an ethical business climate A(n) _______ orientation creates order by requiring that employees identify with and commit to specific required conduct, whereas a(n) ________ orientation strives to develop shared standards Compliance; values At the heart of the Federal Sentencing Guidelines for Organizations is the Carrot-and-stick philosophy Which of the following places more pressure on ethics officers to monitor financial and sales reporting? Sarbanes-Oxley Act All of the following are useful in monitoring ethical conduct and measuring the effectiveness of the ethical program except Firing Which of the following is not a typical activity for an ethical officer? Coordinating the U.S. Sentencing Commission annual ethics audit Which of the following is a common mistake made in implementing an ethics program? Developing materials that do not meet the needs of the average employee One of the most effective methods of ethics training is Exercises in resolving ethical dilemmas that relate to actual situations employees may face on the job ________ serve as a central contact point where critical comments, dilemmas, and advice can be assigned to the person most capable of handling the specific case Help lines An organizational ethics program should help reduce the possibility of penalties and Negative public reaction to misconduct