BEG306 Business Ethics And Governance
1) Which of the following statements is decisive in determining whether or not to study business ethics?
A) Business managers don’t need to study ethics in order to know how to treat employees, shareowners, and customers.
B) Business and ethics simply don’t mix. In the final analysis, self-interest, represented by profit, overrides the interests of employees, customers, and communities. Opinion and sentiment get in the way of efficient business decision-making.
C) Ethical concerns are as unavoidable in business as are concerns of marketing, accounting, finance, and human resources. Formal study of business ethics helps address these concerns so that businesses can integrate ethics in their decision-making.
D) The answers to ethical questions are clear-cut enough; all business people
already know right from wrong.
2) Which of the following statements correctly describes the relationship between philosophical ethics and ethos?
A) Individuals who obey the conventions, mores, and rules of their cultures are already acting ethically. No further philosophical reflection is required.
B) Philosophical ethics distinguishes what people do value from what they should value.
C) What people do value and should value is, for all practical purposes, the same.
D) Philosophical ethics is too abstract to be useful in everyday life situations.
3) Ethics refers to the beliefs, values, and principles that guide a person’s life and decisions.
a) True
b) false
4) Ethical behavior and an ethical reputation can provide a competitive advantage in the marketplace and with customers, suppliers, and employees.
a) True
b) false
5) In a society that values individual freedom, everything that is legal is ethically right and everything that is ethically wrong is illegal.
a) True
b) false
6) Unlike Generally Accepted Accounting Principles (GAAP) for accountants, there are no principles, standards, concepts, or values common to business ethics.
a) True
b) false
GET 100% CORRECT ANSWERS 7) The role of an ethics course should be to convey information to a passive audience, while treating students as passive learners.
a) True
b) false
8) The most influential theory of corporate responsibility of the past century is:
A) the free society economic theory.
B) the neoclassical economic theory.
C) the social contract theory.
D) the stakeholder theory.
9) In which of the following ideas are the ethical roots of the economic model of corporate social responsibility found?
A) The interests of stakeholders are as important as the interests of the corporation’s stockholders.
B) Managers are ethically obliged to make as much money as possible for their stockholders because to do otherwise would undermine the very foundations of our free
society.
C) Managers must prioritize stakeholders’ interests if there is a conflict between the interests of stockholders and the interests of employees, consumers, suppliers, or society.
D) The actions of corporations can and should be restricted by the rights of anyone affected by their decisions.
10) The most influential theory of corporate responsibility of the past century is:
A) the free society economic theory.
B) the neoclassical economic theory.
C) the social contract theory.
D) the stakeholder theory.
11) In which of the following ideas are the ethical roots of the economic model of corporate social responsibility found?
A) The interests of stakeholders are as important as the interests of the corporation’s stockholders.
B) Managers are ethically obliged to make as much money as possible for their stockholders because to do otherwise would undermine the very foundations of our free society.
C) Managers must prioritize stakeholders’ interests if there is a conflict between the interests of stockholders and the interests of employees, consumers, suppliers, or society.
D) The actions of corporations can and should be restricted by the rights of anyone affected by their decisions.
12) The most influential theory of corporate responsibility of the past century is:
A) the free society economic theory.
B) the neoclassical economic theory.
C) the social contract theory.
D) the stakeholder theory.
13) In which of the following ideas are the ethical roots of the economic model of corporate social responsibility found?
A) The interests of stakeholders are as important as the interests of the corporation’s stockholders.
B) Managers are ethically obliged to make as much money as possible for their stockholders because to do otherwise would undermine the very foundations of our free society.
C) Managers must prioritize stakeholders’ interests if there is a conflict between the interests of stockholders and the interests of employees, consumers, suppliers, or society.
D) The actions of corporations can and should be restricted by the rights of anyone affected by their decisions.
14) The management of an online retailer is mostly interested in implementing strategies and pushing policies that result in the utilization of their stockholders’ property to serve the interests of its employees and the local community. The defenders of which of the following models are likely to consider these actions as theft?
A) The triple bottom line theory
B) The cyclical theory of social change
C) The stakeholder theory of corporate social responsibility
D) The economic model of corporate social responsibility
15) A corporate culture is fashioned by a shared pattern of all of the following except:
A) beliefs.
B) expectations.
C) meanings.
D) bylaws.
16) Which of the following statements is true of corporate cultures?
A) Corporate cultures are always changing rapidly.
B) One person, even a strong leader, cannot have a significant impact on a company’s culture.
C) An organization’s culture offers it direction and stability during challenging times.
D) A firm’s culture cannot be its sustaining value.
17) Which of the following is true of an ethical organizational culture?
A) An ethical corporate culture can be compromised for short-term financial gains.
B) An ethical culture empowers employees to act in ethically responsible ways even when the law does not require it.
C) An ethical corporate culture evolves naturally and is self-sustaining.
D) An ethical corporate culture changes rapidly with whatever social trends that are prevalent at a given point in time.
18) According to research conducted by Collins and Porras, which of the following is a common practice that explains the success of visionary companies?
A) A great emphasis on essential and enduring tenets
B) Aggressive marketing techniques that ensure profitability
C) A commitment to following bureaucratic norms
D) An attitude that justifies adopting any means as long as ends are me
19) Select the statement that does not represent one of the common aspects of the contemporary work scene.
A) Workers have significant choices and alternatives open to them in the workplace.
B) More jobs today are temporary, part-time, or subcontracted out to third parties.
C) Most workers will likely have no more than one or two jobs in a lifetime.
D) The social values of work, such as camaraderie and social status, are lost to part-time and temporary workers
20) Which of the following statements is a classical interpretation of work?
A) Humans are intellectual, yet work is physical.
B) For cultured and civilized people, work is undignified.
C) Humans are free beings; work is a necessity.
D) Work diminishes human nature and human potential.
E) All of the answers are correct.
F) None of the answers are correct.
21) Which of these statements does not describe the hedonistic interpretation of work?
A) Work is the price we pay to get the necessities of life and other things that make life pleasurable.
B) Happiness is the enjoyment of cultural activities.
C) There is no specific content for human happiness.
D) Individuals are allowed to choose whatever ends they desire.
22) Which of the following statements is not true about the issues confronting business ethics?
A) Not every job contributes to the development of human potential.
B) The proper kind of workplace contributes to human development.
C) Jobs do not have the potential for influencing and shaping individuals.
D) Individuals exercise control over jobs.
23) Which of the following is a true expression of Marx’s concept of alienation?
A) Alienation is the result of low wages.
B) Alienation is the result of work that prevents the full development of human potential.
C) Alienation means the separation and distinction of one social class from another.
D) The capitalistic system does not inevitably mean a life of alienation for workers.
24) Select the statement that does not represent one of the common aspects of thecontemporary work scene.
A) Workers have significant choices and alternatives open to them in the workplace.
B) More jobs today are temporary, part-time, or subcontracted out to third parties.
C) Most workers will likely have no more than one or two jobs in a lifetime.
D) The social values of work, such as camaraderie and social status, are lost to part-time and temporary workers.
25) Which of the following statements is a classical interpretation of work?
A) Humans are intellectual, yet work is physical.
B) For cultured and civilized people, work is undignified.
C) Humans are free beings; work is a necessity.
D) Work diminishes human nature and human potential.
E) All of the answers are correct.
F) None of the answers are correct.
26) Which of these statements does not describe the hedonistic interpretation of work?
A) Work is the price we pay to get the necessities of life and other things that
make life pleasurable.
B) Happiness is the enjoyment of cultural activities.
C) There is no specific content for human happiness.
D) Individuals are allowed to choose whatever ends they desire.
27) Which ethical question is not relevant to the process of marketing a product?
A) What responsibility do producers have for the quality and safety of their products?
B) Who is responsible for harms caused by a product?
C) Is the customer’s willingness to pay the only ethical constraint on fair pricing?
D) Can producers discriminate in favor of, or against, some consumers?
E) All of the answers are correct.
F) None of the answers are correct.
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28) Identify the statement that fails to reinforce the idea that the purchases made by consumers may not be truly voluntary.
A) The more the consumers need a product, the less free they are to choose.
B) The consumer may experience anxiety and stress, for example, when purchasing an automobile.
C) Price fixing and price gouging may restrict the consumer’s freedom.
D) There may be marketing practices aimed at vulnerable populations such as children or the elderly.
E) All of the answers are correct.
F) None of the answers are correct.
29) Select the statement that represents a situation where informed consent is not operative.
A) The complexity of a product has been fully explained to a consumer.
B) The customer is not clear about the calculation of the interest rate on a leased product transaction.
C) The extended warranty conditions on a product have been fully disclosed to a consumer.
D) Warning labels on a product have pointed out any potential hazards associated with operating it.
E) All of the answers are correct.
F) None of the answers are correct.
30) Select the statement that is not an objection to insisting that diversity of values in cultures entails compromising because of ethical relativism.
A) It is a mistake to conclude too quickly that because cultures are diverse, they necessarily hold diverse ethical values.
B) Given different circumstances, conduct that might be condemned or excused in one context might not be excused or condemned in another. But, excusing unethical behavior is not the same as justifying it.
C) Even in cases where a local culture holds values different from one’s own, a person’s own integrity would require that one’s personal values not be abandoned.
D) Attempts to justify or excuse otherwise unethical conduct by appeals to local values and customs that are advanced only to contribute to the bottom line are simply another instance where ethical responsibilities restrict self-interest. This fact alone is not a good reason to abandon ethics in the face of a disagreement of values.
PART B (Total Marks 35)
Do you agree that professionals have special obligations to do no harm? Explain your answer.
Identify at least two (2) of some of the qualities that you think a business professional should have. Why are these qualities important?
Question 2 (Total Marks 7)
How can an understanding of ethics assist business professionals? Explain and incorporate some relevant examples in your answers.
Question 3 (Total Marks 7)
Based on your experience, provide an example of an ethical dilemma. What theory would you choose to help you resolve it? Explain your answer.
Question 4 (Total Marks7)
In your opinion, is paying people for their services using them as a means to an end? Explain why or why not. Are there any exceptions?
Question 5 (Total Marks 7)
Discuss whether monitoring emails and phone calls is good for productivity and employee morale. What sorts of messages does employee monitoring send to employees? What about to other
stakeholders?
END OF EXAM
