Chapter 1 Quiz

MAN3063: Organizational Ethics M1A2 Quiz Which of the following best describes the role of ethics in a business environment? guiding the conduct by which companies and their agents abide by the law Which of the following is an example of demonstrating ethical standards? Consequentialism Which of the following most likely contributes to a corporation's positive work atmosphere over the long term? being committed to ethical business practices Normative ethics means discovering right and delineating it from wrong Which of the following is the best description for what it means to be a professional of integrity? having an ethical mindset in business Which of the following companies is considered ethical, according to the chapter? Marriot How does Patagonia exemplify ethics? instituting a '1% for the Planet" program that promotes environmentalism Which is a characteristic of successful corporate leaders? They will not take pride in their company unless it is profitable An analysis of perceived priority of shareholder impact should include which of the following? Interest and goals of shareholders What characteristics contribute to the bottom line? (Select all that apply.) funding philanthropy and charitable endeavors sustainability, also known as "going green What did Milton Friedman believe? The only responsibility of a business is to increase profits Why is ethical relativism a good concept to adopt? (Select all that apply.) We should use different standards for different contexts. Which company attributes increase in value as stakeholders view that company in a positive light? (Select all that apply.) Company name or logo Which are the universal principles of behavior? Honesty and integrity Adopting a consistent ethical standard is . Selfless

MAN3063: Organizational Ethics M1A2 Quiz What is ethics? standards of behavior for professional and personal lives How was management in the Equifax data breach case held accountable? The chief executive officer left the firm after he testified before Congress. Which personal philosophical approach does Warren Buffet believe in? Invest in yourself Are ethical and legal responsibilities the same? No, legal standards are necessary for a properly functioning society, and ethics deals with voluntary business conduct in accordance with laws, statutes, regulations, and policies. An ethical financial advisor must . be truthful about all fees Why do businesses care about ethics? to uphold honorable standards of behavior Which elements constitute corporate culture? how the CEO interacts with his or her employees and managers Positive goodwill . (Select all that apply.) generates long-term business success What is the best reason for a universal ethical standard? It provides transparency in application. What does deontology mean? Ethics is a duty we owe to others.