FBLA Business Ethics Exam Questions and Correct Answers Latest Update 2024 (100% Pass)

FBLA Business Ethics Exam Questions and Correct Answers Latest Update 2024 (100% Pass) What are business ethics guided by? a. Consistently cuts corners and makes excuses for not completing work up to the standards the business requires b. Mostly by law, other times provide a basic framework that businesses may choose to follow in order to gain public approval c. Fair dealings with customers and vendors including competitive pricing timely payments and the highest quality standards in the manufacture of its products - Answers b. Mostly by law, other times provide a basic framework that businesses may choose to follow in order to gain public approval How do we prevent unethical behavior? a. By listening to feedback and assessing needs b. Set realistic goals for employees c. By paying on time and utilizing fair buying prices d. Poor planning and faults elsewhere in the business - Answers b. Set realistic goals for employees What happens if employees are expected to meet unreachable goals? a. By paying time and utilizing fair buying prices b. By valuing opinions and treating each employee as an equal c. Sometimes slack in their performance and take credit for completing tasks that were left in completed d. They could engage in unethical behavior to reach those goals - Answers d. They could engage in unethical behavior to reach those goals How does an ethical business demonstrate respect to its customers? a. By being environmentally responsible showing concern and giving back as it sees fit b. By listening to feedback and assessing needs c. By paying on time and utilizing fair buying practices d. By valuing opinions and treating each employee as an equal - Answers b. By listening to feedback and assessing needs A lack of ethics has a negative effect in employee performance.In some cases, employees are so concerned with getting ahead and making money that they ignore procedures and protocol a. Employee relations b. Business ethics c. Employee performance d. Company credibility - Answers c. Employee performance Actions for which a person or group of people can be held responsible for,either rewarded or liable for? a. Employee relations b. Company credibility c. Social responsibility d. Laws and regulations at the local, state, and federal levels. It treats its employees fairly, communicating with them honestly and openly - Answers c. Social responsibility How does an ethical demonstrate respect to its employees? a. By valuing opinions and treating each employee as an equal b. By paying on time and utilizing fair buying practices c. By listening to feedback and assessing needs d. By being environmentally responsible, showing concern and giving back as it sees fit - Answers a. By valuing opinions and treating each employee as an equal How does an ethical business demonstrate respect to its vendors? a. By paying on time and utilizing fair buying practices b. By listening to feedback and assessing needs c. By valuing opinions and treating each employee as an equal d. By being environmentally responsible, showing concern and giving back as it sees fit - Answers a. By paying on time and utilizing fair buying practices Solid relationships that are equally beneficial and both party's reap the benefits. An ethical business stays loyal to it's partnership even in challenging times. a. Loyalty b. Integrity c. Employee performance d. Employee relations - Answers a. Loyalty What happens to untrained employees a. Consistently b. Consistently cuts corners and makes excuses for not completing work up to the standards the business requires c. They could engage in unethical behavior to reach those goals d. Sometimes slack in their performance and take credit for completing tasks that were left in-completed - Answers b. Consistently cuts corners and makes excuses for not completing work up to the standards the business requires An all encompassing characteristics of an ethical business a. Consistently b. Company credibility c. Loyalty d. Integrity - Answers d. Integrity The study of proper business policies and practices regarding potentially controversial issues such as corporate governance insider trading bribery discrimination corporate social responsibility and fiduciary responsibility's a. Company credibility b. Employee relations c. Employee performance d. Business ethics - Answers d. Business ethics _______ monitor employee performance a. Set realistic goals for employees b. Consistently cuts corners and make excuses for not completing work up to the standards the business requires c. Integrity d. Consistently - Answers d. Consistently