Introduction to Business Ethics Exam Questions and Answers Latest Update 2024 Already Passed
Business ethics - Answers Ethics is the study of morality
morality: standards about what is right or wrong?
Business Ethics refer to the principles and standards to guide businesses.
Some examples - Answers Internet & Cyberspace: how large is the risk, are they reversible?
Genetic engineering
Globalisation and business ethics:
-Driven by MNCs
-it has broght nations together but increases inequality. Some developing countries have inappropriate
techniques.
Ethical Relativism (Glossary) - Answers there are no ethical standards to what is true. Thus, everything is
relative depending on the culture.
it can be right if the actions in line with person's culture, but wrong respectively to others cultures.
if this is true, then discrimination in some societies are not wrong.
Example of Ethical Rel. - Answers abortion in catholic cultures is immoral, however in Japan is neutral
regarding to controlling their population.
Conflict of interest - Answers dilemma between personal interests and morality
Risk for firms performing unethical behavior - Answers moentary fines
layoffs
lawsuits
reparation of damages
investors confidence decrease
destabilization of economy
, evaluation of business ethics - Answers stockholder theory --> when stockholders perform unethical
behavior to satisfy themselves
which developes into the stakeholders theory --> firms have to act ethically in order to involved
everyone in the company.
hypernorms - Answers certain norms that should apply to people in all societies. (HR principles)
Microsocial norms - Answers apply only in some societies and differ from one another.
Bribery - Answers the practice of giving some compensation(bribe) to influence the individual.
occupational fraud - Answers when someone uses its ocupation for personal enrichment.
Corporate Social Responsibility (CSR) - Answers is a corporation's initiatives to assess and take
responsibility for the company's effects on environmental and social wellbeing. The term generally
applies to efforts that go beyond what may be required by regulators or environmental protection
groups.
it helps positively the organization, as well as it innovate them, and makes them more competitive
Code of ethics (Glossary) - Answers is a written set of guidelines of an organization (for its workers and
managers), on how they should conduct, includes primary values and ethical standards.
Strategic approach to business ethics - Answers organization will integrate business ethics issues across
all of its operations and activities
morality - Answers refers to some codes of conduct set up by a society
moral awareness (glossary) - Answers refers to the ability of an individual to understand the how ethical
a situation or behavior could be
6 basic criterias (HIGH - LOW) - Answers 1 - Magnitude of consequences: degree of harm that the victims
of an unethical choice will have to go through
2- Social consensus: degree to which others agree that a specific behavior is wrong
3- probability of effect: the probability that any action will result in harm to victims of the action
4- temporal immediacy: length of time between the action and the harmful consequences
5- Proximity: the psychological or cultural nearness to the victim
6- concentration of effect: the number of people affected by the act
Results of the 6 criterias - Answers Low levels of each criteria- less unethical choices
High levels of each 6 criterias - more unethical choices
Business ethics - Answers Ethics is the study of morality
morality: standards about what is right or wrong?
Business Ethics refer to the principles and standards to guide businesses.
Some examples - Answers Internet & Cyberspace: how large is the risk, are they reversible?
Genetic engineering
Globalisation and business ethics:
-Driven by MNCs
-it has broght nations together but increases inequality. Some developing countries have inappropriate
techniques.
Ethical Relativism (Glossary) - Answers there are no ethical standards to what is true. Thus, everything is
relative depending on the culture.
it can be right if the actions in line with person's culture, but wrong respectively to others cultures.
if this is true, then discrimination in some societies are not wrong.
Example of Ethical Rel. - Answers abortion in catholic cultures is immoral, however in Japan is neutral
regarding to controlling their population.
Conflict of interest - Answers dilemma between personal interests and morality
Risk for firms performing unethical behavior - Answers moentary fines
layoffs
lawsuits
reparation of damages
investors confidence decrease
destabilization of economy
, evaluation of business ethics - Answers stockholder theory --> when stockholders perform unethical
behavior to satisfy themselves
which developes into the stakeholders theory --> firms have to act ethically in order to involved
everyone in the company.
hypernorms - Answers certain norms that should apply to people in all societies. (HR principles)
Microsocial norms - Answers apply only in some societies and differ from one another.
Bribery - Answers the practice of giving some compensation(bribe) to influence the individual.
occupational fraud - Answers when someone uses its ocupation for personal enrichment.
Corporate Social Responsibility (CSR) - Answers is a corporation's initiatives to assess and take
responsibility for the company's effects on environmental and social wellbeing. The term generally
applies to efforts that go beyond what may be required by regulators or environmental protection
groups.
it helps positively the organization, as well as it innovate them, and makes them more competitive
Code of ethics (Glossary) - Answers is a written set of guidelines of an organization (for its workers and
managers), on how they should conduct, includes primary values and ethical standards.
Strategic approach to business ethics - Answers organization will integrate business ethics issues across
all of its operations and activities
morality - Answers refers to some codes of conduct set up by a society
moral awareness (glossary) - Answers refers to the ability of an individual to understand the how ethical
a situation or behavior could be
6 basic criterias (HIGH - LOW) - Answers 1 - Magnitude of consequences: degree of harm that the victims
of an unethical choice will have to go through
2- Social consensus: degree to which others agree that a specific behavior is wrong
3- probability of effect: the probability that any action will result in harm to victims of the action
4- temporal immediacy: length of time between the action and the harmful consequences
5- Proximity: the psychological or cultural nearness to the victim
6- concentration of effect: the number of people affected by the act
Results of the 6 criterias - Answers Low levels of each criteria- less unethical choices
High levels of each 6 criterias - more unethical choices
