Study Exam for WGU-072 Fundamentals for Success in Business Final test

Study Exam for WGU-072 Fundamentals for Success in Business Final test Ethics is a ____________________ concerned with the meaning of all aspects of human behavior. - CORRECT ANSWER-branch of philosophy Ethics - CORRECT ANSWER-encompasses the principles that guide a person's behavior (what's right and what's wrong) Legal - CORRECT ANSWER-denotes an act that is permissible or in conformity with the law of the land Legal-ethical - CORRECT ANSWER-when the law and personal or organizational ethics are in accordance with each other Legal-unethical - CORRECT ANSWER-dilemma in which established laws are not in accordance or do not uphold the ethical choice Illegal-ethical - CORRECT ANSWER-dilemma in which the ethical choice would be in violation of established laws Personal ethics - CORRECT ANSWER-guide interactions with others, both personally and professionally What are some of the factors that influence someone's personal code of ethics? - CORRECT ANSWER-Family & community, personal beliefs, experiences, and culture Values - CORRECT ANSWER-the stable, enduring goals that a person has for life Morals - CORRECT ANSWER-sets of rules that individuals develop based on cultural norms and beliefs Organizational ethics - CORRECT ANSWER-a branch of applied ethics that focuses on rules, principles, and standards in the context of business activities If an organization can create an ethically oriented culture they are more likely to do what? - CORRECT ANSWER-Hire people who behave ethically 4 main levels of ethical issues within an organization: - CORRECT ANSWER-1.) societal issues 2.) stakeholder issues 3.) internal policy issues 4.) personal issues Describe societal issues relating to ethics within an organization - CORRECT ANSWER-1.) concerns issues relating to the world as a whole 2.) involvement happens because of the ethics the organization creates out of care and concern for individuals Describe stakeholder issues relating to ethics within an organization - CORRECT ANSWER-1.) concerns policies that affect its customers, employees, suppliers, and people within the community Describe internal policy issues relating to ethics within an organization - CORRECT ANSWER-1.) concerns internal relationships between a company and its employees 2.) examples include fairness in management, pay, and employee participation Describe personal issues relating to ethics in an organization - CORRECT ANSWER-1.) concerns how people treat others in their organization 2.) examples include gossiping at work or taking credit for another's work Corporate Social Responsibility (CSR) - CORRECT ANSWER-a philosophy in which a company voluntarily engages in actions that benefit society at large Stakeholders are: - CORRECT ANSWER-unions, the company's employees, investors, suppliers, consumers, local & national governments, and communities that may be affected by corporate activities such as construction, manufacturing, and pollution The goal of CSR: - CORRECT ANSWER-to increase long-term profits and shareholder trust through positive public relations and high ethical standards to reduce business and legal risks by taking responsibility for corporate actions World Trade Organization (WTO) function: - CORRECT ANSWER-govern global trade by overseeing the implementation of trade agreements between nations A company develops a program to help guide employe