FUNDAMENTALS FOR SUCCESS IN
BUSINESS FULL QUESTIONS AND CORRECT
ANSWERS ALREADY PASSED STUDY SHEET
●● Legal:
Answer: An act that is allowed or is in conformity with the law of the
land. This means that an act that is defined as illegal is in defiance of the
stated or established laws of a defined jurisdiction.
●● Legal Ethical:
Answer: When the law and personal or organizational ethics are in
accordance with each other.
●● Legal-Unethical:
Answer: Dilemma in which established laws are not in accordance or do
not uphold the ethical choice.
●● Illegal-Ethical:
Answer: Dilemma in which the ethical choice would be in violation of
established laws.
●● Personal Ethics:
,Answer: Codes, principles, and values that shape our interactions with
others.
●● Values:
Answer: The stable goals that one has or life. Thing that are most
important to the individual. Influenced by early life experiences.
●● Morals:
Answer: Sets of rules that individuals develop based on cultural norms
and beliefs. Passed down through generations and characterize a cultural
group.
●● Organizational Ethics:
Answer: A brand of applied ethics that focuses on rule, principles, and
standards in the context of business activities.
●● Explicit Values:
Answer: A well crafted mission statement that clearly states the
principles that can be widely shared. Leaders can refer to it to guide the
creation of any new strategy or initiative and note its connection to the
company's principles when addressing employees, thus reinforcing the
broader ethical system.
●● Thought During Judgment:
,Answer: In several experiments, people are more likely to tell the truth
when an honor code came at the beginning of a form.
●● Incentives:
Answer: incentive programs must provide a variety of rewards to be
effective. Companies that use pro social incentives are likely to produce
happier, more satisfied, and more loyal employees.
●● Cultural Norms:
Answer: How peers actually behave, they tend to exert the most social
influence. So if they are lying, cheating, or stealing, the employees will
most likely do the same.
●● Organizational Culture:
Answer: The shared values, beliefs, and norms of an organization that
affect the strategies and operating procedures of the business.
●● CSR
Answer: = Corporate Social Responsibility: Where a company
voluntarily engages in actions that benefit society at large
●● Stakeholders:
Answer: Include the company's employees, unions, investors, suppliers,
consumers, local and national governments and communities that me be
, affected by corporate activities such as construction, manufacturing, and
pollution.
●● Code of Ethics:
Answer: A guide that publicly sets out an organization's key values and
ethical obligations.
●● Green washing:
Answer: When organizations carry about CSR missions in an inauthentic
way, using them to increase publicity rather than the spur real change.
●● Internal Transparency:
Answer: Degree to which an organization operates with openness,
communication, and accountability.
●● Whistleblowers:
Answer: Those who tell the public or the authorities about alleged
misconduct occurring in a government department, private company, or
organization.
●● Business Process Management (BPM):
Answer: The management initiative to design work processes so that
they align with the organization's strategic goals.
BUSINESS FULL QUESTIONS AND CORRECT
ANSWERS ALREADY PASSED STUDY SHEET
●● Legal:
Answer: An act that is allowed or is in conformity with the law of the
land. This means that an act that is defined as illegal is in defiance of the
stated or established laws of a defined jurisdiction.
●● Legal Ethical:
Answer: When the law and personal or organizational ethics are in
accordance with each other.
●● Legal-Unethical:
Answer: Dilemma in which established laws are not in accordance or do
not uphold the ethical choice.
●● Illegal-Ethical:
Answer: Dilemma in which the ethical choice would be in violation of
established laws.
●● Personal Ethics:
,Answer: Codes, principles, and values that shape our interactions with
others.
●● Values:
Answer: The stable goals that one has or life. Thing that are most
important to the individual. Influenced by early life experiences.
●● Morals:
Answer: Sets of rules that individuals develop based on cultural norms
and beliefs. Passed down through generations and characterize a cultural
group.
●● Organizational Ethics:
Answer: A brand of applied ethics that focuses on rule, principles, and
standards in the context of business activities.
●● Explicit Values:
Answer: A well crafted mission statement that clearly states the
principles that can be widely shared. Leaders can refer to it to guide the
creation of any new strategy or initiative and note its connection to the
company's principles when addressing employees, thus reinforcing the
broader ethical system.
●● Thought During Judgment:
,Answer: In several experiments, people are more likely to tell the truth
when an honor code came at the beginning of a form.
●● Incentives:
Answer: incentive programs must provide a variety of rewards to be
effective. Companies that use pro social incentives are likely to produce
happier, more satisfied, and more loyal employees.
●● Cultural Norms:
Answer: How peers actually behave, they tend to exert the most social
influence. So if they are lying, cheating, or stealing, the employees will
most likely do the same.
●● Organizational Culture:
Answer: The shared values, beliefs, and norms of an organization that
affect the strategies and operating procedures of the business.
●● CSR
Answer: = Corporate Social Responsibility: Where a company
voluntarily engages in actions that benefit society at large
●● Stakeholders:
Answer: Include the company's employees, unions, investors, suppliers,
consumers, local and national governments and communities that me be
, affected by corporate activities such as construction, manufacturing, and
pollution.
●● Code of Ethics:
Answer: A guide that publicly sets out an organization's key values and
ethical obligations.
●● Green washing:
Answer: When organizations carry about CSR missions in an inauthentic
way, using them to increase publicity rather than the spur real change.
●● Internal Transparency:
Answer: Degree to which an organization operates with openness,
communication, and accountability.
●● Whistleblowers:
Answer: Those who tell the public or the authorities about alleged
misconduct occurring in a government department, private company, or
organization.
●● Business Process Management (BPM):
Answer: The management initiative to design work processes so that
they align with the organization's strategic goals.
