ELCP FINAL EXAM QUESTIONS WITH 100%
CORRECT ANSWERS.
Why would an organization not want to rely solely on an individual's personal ethics?
Individual personal values differ significantly and can result in unethical conduct.
Which of these is least likely to influence an individual's personal ethics?
Regulatory guidance
Which of the following statements is true about ethics?
Unethical conduct is not always black and white.
Which definition best describes organizational ethical leadership?
Influencing others to ethically achieve company goals.
What is organizational ethics?
Right or wrong, acceptable or unacceptable conduct in an organizational environment
Why would it be a mistake to ignore secondary stakeholders?
They can be an ally or a threat to an organization.
What is true about how ethical leaders should perceive stakeholders?
Ethical leaders view stakeholders as important co-contributors of firm value.
Which of these stakeholders is a secondary stakeholder?
Special-interest groups
Leaders who display good character________________________
take responsibility for ethically meeting stakeholder needs.
What is the first step organizations must take to meet the needs of their stakeholders?
Gather data on the company's stakeholders.
,What are the benefits of ethical leadership?
Employees are more willing to work for ethical companies.
What is one way that ethical leaders can empower employees?
Creating an open communication environment.
What is true about ethical leaders?
Ethical leaders place company interests above their own.
What is one of the biggest ethical risks that companies face?
Complacency
Which statement is true regarding the aftermath of the financial crisis
Consumer trust of business hit a low point.
Which statement is true about the ethical decision-making of leaders?
Ethical leaders must often make trade-offs regarding stakeholder demands.
What similarity do they share that contributes to their firm's ethical cultures?
They have the ability to align employees behind a common vision.
Why might ethics mistakes actually improve an organization in the long-run?
They give the firm an opportunity to learn from its mistakes.
According to Howard Schultz, which of the following is true about ethical leadership?
It is about finding a way to balance between profitability and social consciousness.
Which of the following differentiates ethical leaders from less ethical leaders?
How they respond to mistakes
In this module, we described five examples of ethically-challenged CEOs. What is not one
of the mistakes they made?
Giving employees more decision-making authority
, What constitutes a conflict of interest?
The best interests of an individual are placed above the best interests of the company.
What is the fate of ethically-challenged CEOs?
They often face reputational damage.
Based on observations of J. P. Morgan CEO James Dimon's reaction to a crisis, what is a
good way to manage a crisis?
Act quickly and take responsibility for the issues.
What likely contributed to the flawed corporate culture at Countrywide Financial?
A flawed incentive system
Which definition describes an ethical issue?
An identifiable problem, situation, or opportunity that requires a person or organization to
choose among several actions that may be evaluated as ethical or unethical
Which tends to be the most observed misconduct in the workplace?
Time theft
Ethical leaders must ____________ ethical issues and risks.
identify
What is the definition of ethical issue intensity?
How important an ethical issue is perceived to be by a company or individual
Unlike an ethical issue, in an ethical dilemma _____________.
all the decisions have negative consequences
A values orientation should possess _________________.
strong communication systems
CORRECT ANSWERS.
Why would an organization not want to rely solely on an individual's personal ethics?
Individual personal values differ significantly and can result in unethical conduct.
Which of these is least likely to influence an individual's personal ethics?
Regulatory guidance
Which of the following statements is true about ethics?
Unethical conduct is not always black and white.
Which definition best describes organizational ethical leadership?
Influencing others to ethically achieve company goals.
What is organizational ethics?
Right or wrong, acceptable or unacceptable conduct in an organizational environment
Why would it be a mistake to ignore secondary stakeholders?
They can be an ally or a threat to an organization.
What is true about how ethical leaders should perceive stakeholders?
Ethical leaders view stakeholders as important co-contributors of firm value.
Which of these stakeholders is a secondary stakeholder?
Special-interest groups
Leaders who display good character________________________
take responsibility for ethically meeting stakeholder needs.
What is the first step organizations must take to meet the needs of their stakeholders?
Gather data on the company's stakeholders.
,What are the benefits of ethical leadership?
Employees are more willing to work for ethical companies.
What is one way that ethical leaders can empower employees?
Creating an open communication environment.
What is true about ethical leaders?
Ethical leaders place company interests above their own.
What is one of the biggest ethical risks that companies face?
Complacency
Which statement is true regarding the aftermath of the financial crisis
Consumer trust of business hit a low point.
Which statement is true about the ethical decision-making of leaders?
Ethical leaders must often make trade-offs regarding stakeholder demands.
What similarity do they share that contributes to their firm's ethical cultures?
They have the ability to align employees behind a common vision.
Why might ethics mistakes actually improve an organization in the long-run?
They give the firm an opportunity to learn from its mistakes.
According to Howard Schultz, which of the following is true about ethical leadership?
It is about finding a way to balance between profitability and social consciousness.
Which of the following differentiates ethical leaders from less ethical leaders?
How they respond to mistakes
In this module, we described five examples of ethically-challenged CEOs. What is not one
of the mistakes they made?
Giving employees more decision-making authority
, What constitutes a conflict of interest?
The best interests of an individual are placed above the best interests of the company.
What is the fate of ethically-challenged CEOs?
They often face reputational damage.
Based on observations of J. P. Morgan CEO James Dimon's reaction to a crisis, what is a
good way to manage a crisis?
Act quickly and take responsibility for the issues.
What likely contributed to the flawed corporate culture at Countrywide Financial?
A flawed incentive system
Which definition describes an ethical issue?
An identifiable problem, situation, or opportunity that requires a person or organization to
choose among several actions that may be evaluated as ethical or unethical
Which tends to be the most observed misconduct in the workplace?
Time theft
Ethical leaders must ____________ ethical issues and risks.
identify
What is the definition of ethical issue intensity?
How important an ethical issue is perceived to be by a company or individual
Unlike an ethical issue, in an ethical dilemma _____________.
all the decisions have negative consequences
A values orientation should possess _________________.
strong communication systems
