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A compilation of questions and answers related to business ethics, covering key concepts such as utilitarianism, teleology, egoism, deontology, and relativism. It also includes definitions and explanations of important terms like fsgo, sarbanes-oxley act, ethical intensity, moral intensity, locus of control, and various corporate culture types. The material is designed to help students understand and review fundamental principles in business ethics, offering insights into ethical decision-making processes and organizational ethics.
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Ethical |decision |making |process |- |CORRECT |ANSWER✔✔-Ethical |issue | intensity, |individual |factors, |organizational |factors, |and |opportunity Utilitarianism |- |CORRECT |ANSWER✔✔-Greatest |good |for |greatest |number |of | people Teleology |- |CORRECT |ANSWER✔✔-Acts |are |morally |right |if |they |produce |a | desired |result Egoism |- |CORRECT |ANSWER✔✔-Maximize |self-interest Deontology |- |CORRECT |ANSWER✔✔-Preservation |of |individual |rights |and | individual |intention |rather |than |consequences Relativist |- |CORRECT |ANSWER✔✔-Based |on |individual/group |experiences Business |Ethics |- |CORRECT |ANSWER✔✔-Comprises |organizational |principles, | values |and |norms |that |primarily |guide |individual |and |group |behavior |in | business FSGO |- |CORRECT |ANSWER✔✔-Federal |Sentencing |Guidelines |Organization | (exactly |how |it |sounds)
Sarbanes-Oxley |Act |- |CORRECT |ANSWER✔✔-Requires |corporations |to | establish |codes |of |ethics |for |financial |reporting |and |requires |top |executives |to | sign |off |on |their |firm's |financial |reports Ethical |intensity |- |CORRECT |ANSWER✔✔-Perceived |relevance/importance |of | ethical |issues |to |individual/work |group Moral |Intensity |- |CORRECT |ANSWER✔✔-Individual's |perception |of |social | pressure |and |the |harm |his/her |decision |will |have |on |others Locus |of |control |- |CORRECT |ANSWER✔✔-Individual |differences |in |relation |to |a | general |belief |about |how |one |is |affected |by |internal |vs. |external |events External |Locus |Control |- |CORRECT |ANSWER✔✔-go |with |the |flow Internal |Locus |Control |- |CORRECT |ANSWER✔✔-Must |be |in |control Ethical |culture |- |CORRECT |ANSWER✔✔-Reflects |whether |a |firm |has |an |ethical | culture Normative |Decision-Making |- |CORRECT |ANSWER✔✔-How |one |SHOULD | approach |an |issue Descriptive |Decision-Making |- |CORRECT |ANSWER✔✔-How |one |DOES |approach |an |issue John |Rawls |main |philosophical |focus |- |CORRECT |ANSWER✔✔-Justice Veil |of |ignorance |- |CORRECT |ANSWER✔✔-How |individuals |would |make | decisions |if |they |did |not |know |what |their |future |position |in |a |society |would |be
Value-based |culture |- |CORRECT |ANSWER✔✔-Rely |on |mission |statements |that | define |the |firm |and |stakeholder |relations Differential |association |- |CORRECT |ANSWER✔✔-The |idea |that |people |learn | ethical/unethical |behavior |while |interacting |with |others Whistle-Blowing |was |incentivized |and |implemented |in |these |acts |- |CORRECT | ANSWER✔✔-Sarbanes-Oxley |Act, |FSGO, |and |the |Dodd-Frank |Act Reward |Power |- |CORRECT |ANSWER✔✔-Offering |something |desirable |to | influence |behavior Coercive |Power |- |CORRECT |ANSWER✔✔-Penalizing |negative |behavior Legitimate |Power |- |CORRECT |ANSWER✔✔-Consensus |that |a |person |has |the | right |to |exert |influence |over |others Expert |Power |- |CORRECT |ANSWER✔✔-Derives |from |knowledge/credibility Referat |Power |- |CORRECT |ANSWER✔✔-Exists |when |goals/objectives |are | similar Centralized |Organizational |Power |- |CORRECT |ANSWER✔✔-Authority | concentrated |at |the |top Decentralized |Organizational |Power |- |CORRECT |ANSWER✔✔-Authority | delegated |as |far |down |the |chain |as |possible Codes |of |ethics |- |CORRECT |ANSWER✔✔-General |statements |serving |as | principles |- |basis |for |set |of |rules |in |a |code |of |conduct
Statement |of |Values |- |CORRECT |ANSWER✔✔-Serves |general |public |and | addresses |stakeholder |interest Keys |to |implementing |a |code |of |ethics |- |CORRECT |ANSWER✔✔-Consider |areas | of |risk, |Identify |values |that |address |current |ethical |issues, |find |consumer | values |that |link |organization |to |stakeholder, |make |the |code |understandable, | communicate |the |code |frequently, |and |revise |the |code |every |year