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Exam 3: Ethics in Business

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Question 21

Multiple Choice

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Teresa must resolve a business problem for which she believes there is no easy answer. She identifies the reasons for this belief before analyzing solutions. In terms of the IDDR approach, this is

A) the discussion step.
B) the decision step.
C) the inquiry step.
D) the review step.

E) B) and C)
F) B) and D)

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Question 22

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Under the categorical imperative, an unethical decision that would have only a small impact is acceptable as long as no one else in society acts the same way.

A) True
B) False

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Question 23

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A highly successful company is most likely to behave more unethically than a less successful firm if

Ethical issues that a business manager is not likely to encounter include

Congress does not pass laws based on ethics.

To successfully apply the concept of corporate social responsibility, the key factor is

A cost-benefit analysis is part of

Build-It Inc. applied an inexpensive but untested technique to brace a transit tunnel wall. The technique was legal but the tunnel collapsed, killing several commuters. Build-It's action was

Ray, the manager of Soy Farm Inc., must decide whether to plant genetically modified seed that could spread to the crop of an adjacent farm, whose owner opposes its use. Not using the seed could cut Soy's production and profitability, impacting its owners, employees, creditors, and others. If Ray considers all of these factors in making his decision, he is likely applying

Because it may be unclear how a court will interpret and apply a law, companies can ensure decisions are viewed as ethical by documenting their own interpretation of the law.

Under the "stakeholder view," no group ever has a greater stake in company decisions than the shareholders do.

Corporate social responsibility may increase a business's reputation or goodwill.

According to the theory of corporate social responsibility, any decision by corporate management should consider how an action affects the firm's

A company's ethical code of conduct is not

The effectiveness of an industry code of ethics is partly determined by the commitment of the industry or company leadership to enforce it.

The study of ethics goes no further than the requirements of the law to evaluate what is right for society.

Outcome-based ethics determines what is ethical by looking at the potential benefits and harms of a given action.

The term moral minimum is best defined as the highest degree of ethical behavior expected of a firm.

A business corporation that acts to ensure its employees are treated fairly and its operations minimally impact the environment is applying the concept of

Decision makers need to consider what they can and will do before they consider what they should do.