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Exam 3: Ethics in Business

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Question 31

Multiple Choice

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Duty-based ethical standards are most likely to derive from

A) a corporate ethics code.
B) a cost-benefit analysis.
C) philosophical reasoning.
D) the law.

E) All of the above
F) A) and C)

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Question 32

Multiple Choice

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When adopting duty-based ethics, corporations often demonstrate the duties they owe

A) through required government disclosure forms.
B) in their mission statements and strategic plans.
C) by adopting a corporate religion.
D) in the biographies of corporate leaders.

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

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Question 33

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When making ethical decisions, a business should evaluate the financial implications.

Ethical decision makers should test and reflect on the outcome of their decisions.

In addressing an ethical problem, a business decision maker evaluates possible solutions to the problem and then considers what should be done. In terms of the IDDR approach, this is

Adhering to utilitarian ethics in making a business decision is likely to result in an action that is considered morally correct if it produces the greatest good for

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

The Fraud Reduction and Data Analytics Act to prevent, detect, and respond to fraud in federal programs institutionalizes

When the chief financial officer, or other executive, of a corporation is unsure whether a certain business action is legal, she should act

Considering the triple bottom line requires looking at how business decisions impact all of the following except

Making a business decision based on its projected financial outcome and then arguing that the decision is ethical is

Sports Equipment Corporation sells a profit-generating product that is capable of seriously injuring consumers who misuse it in a foreseeable way. The firm's managers are contemplating adding a warning to the product but that warning will increase the cost of the product, and they are worried that it may deter some potential customers from buying it. Thinking about the two main theories of the role of business in society, discuss whether the corporation would behave ethically by continuing to sell the product without warning.

Cloud Source LLC sells to Distribution Inc. a promising idea for a technological innovation that looks promising but that is still being developed. This is

Peanut Products Company (PPC) makes goods that can cause severe health problems to those with peanut allergies. PPC analyzes the cost of warning people of the risk (which the company's management sees as obvious) and the harm to people if no warning is provided. This analysis most likely is part of

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

When making decisions that are ethical under either profit maximization or corporate citizenship theories, a business should include all of the following steps except

Compliance with the law is not always sufficient to determine "right" behavior because

"Be honest and treat people fairly." In regard to business ethics, implementing this motto is

The Sarbanes-Oxley Act was enacted to reduce the number of unethical business decisions by requiring the accountability of publicly traded companies.

Corporate "citizenship" involves making decisions beyond just maximizing profits and dividends.