Understanding Business Ethics and Stakeholders: Key Concepts

Which of the following best describes a business stakeholder? Select one: a. Only the minority shareholders in a business entity b. Only those who have acquired significant shares in a firm c. Anyone who audits a firm d. Anyone who affects or is affected by decisions made within a firm Feedback The correct answer is: Anyone who affects or is affected by decisions made within a firm Question 2 Correct 6.25 points out of 6.25 Flag question Question text Identify a true statement about ethical decision making in business. Select one: a. Ethical decision making is not limited to major corporate decisions with dramatic social consequences. b. Ethical decisions that employees make have to always be based upon clearly established guidelines laid down by the board of directors. c. All ethical decisions can be covered by economic, legal, or company rules and regulations. d. Every instance of ethical decision making should be based on the law of the land. Feedback The correct answer is: Ethical decision making is not limited to major corporate decisions with dramatic social consequences. Question 3 Correct 6.25 points out of 6.25 Flag question

Question text Morality is the aspect of ethics that we can refer to by the phrase "_____." Select one: a. personal freedom b. individual rationality c. personal integrity d. persuasive rationality Feedback The correct answer is: personal integrity Question 4 Correct 6.25 points out of 6.25 Flag question Question text _____ are beliefs and principles that provide the ultimate guide to a company's decision making? Select one: a. Mission statements b. Core values c. Historical milestones d. Vision statements Feedback The correct answer is: Core values Question 5 Correct 6.25 points out of 6.25 Flag question Question text

Individual codes of conduct based on one's value structures regarding how one should live, how one should act, what one should do, and what kind of a person should one be is sometimes referred to as _____. Select one: a. morality b. independence c. leadership d. rationality Feedback The correct answer is: morality Question 6 Correct 6.25 points out of 6.25 Flag question Question text The failure of personal ethics among companies like Enron and WorldCom led to the creation of the: Select one: a. Brooks Act. b. Gramm-Leach-Bliley Act. c. Clinger-Cohen Act. d. Sarbanes-Oxley Act. Feedback The correct answer is: Sarbanes-Oxley Act. Question 7 Correct 6.25 points out of 6.25 Flag question Question text

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Which of the following can be thought of as the answer to the fundamental questions of theoretical reason? Select one: a. The scientific method b. The practical approach c. The contingency approach d. The normative model Feedback The correct answer is: The scientific method Question 8 Incorrect 0.00 points out of 6.25 Flag question Question text Theoretical reasoning is reasoning about: Select one: a. what we actually do. b. what we should do. c. what we should believe. d. what we should implement. Feedback The correct answer is: what we should believe. Question 9 Correct 6.25 points out of 6.25 Flag question Question text

The Arthur Andersen auditors did not notice how low Enron had fallen in terms of its unethical decisions over a period of time. According to Bazerman and Chugh, this omission is an example of _____. Select one: a. inattentional blindness b. descriptive ignorance c. change blindness d. normative myopia Feedback The correct answer is: change blindness Question 10 Correct 6.25 points out of 6.25 Flag question Question text Which of the following statements commits the ethical oversight known as normative myopia? Select one: a. "I skipped the red light because I was so involved in our debate." b. "The only reason they did not notice the pilferage happening is because it involved the theft of such small quantities of goods over a long period of time." c. "I hope Brad has learnt his lesson after getting drunk and crashing his car." d. "I strongly believe in the saying, ‘finders keepers, losers weepers.'" Feedback The correct answer is: "I strongly believe in the saying, ‘finders keepers, losers weepers.'" Question 11 Correct 6.25 points out of 6.25 Flag question

Question text When making a decision, selecting the alternative that meets the minimum decision criteria is selected is known as _____. Select one: a. normalcy bias b. satisficing c. optimism bias d. flipism Feedback The correct answer is: satisficing Question 12 Correct 6.25 points out of 6.25 Flag question Question text Which of the following qualities would an effective decision maker display when considering the available alternatives for ethical decision making? Select one: a. Reciprocal obligation b. Servant leadership c. Social entrepreneurship d. Moral imagination Feedback The correct answer is: Moral imagination Question 13 Correct 6.25 points out of 6.25 Flag question

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Question text Identify the step of the ethical decision-making process that involves predicting the likely, foreseeable, and the possible consequences to all the relevant stakeholders. Select one: a. Comparing and weighing the alternatives b. Making the decision c. Identifying the ethical issues d. Monitoring and learning from the outcomes Feedback The correct answer is: Comparing and weighing the alternatives Question 14 Correct 6.25 points out of 6.25 Flag question Question text Free market economics is grounded in the _____. Select one: a. rights-based framework of ethics b. principle-based framework of ethics c. utilitarian framework of ethics d. legal framework of ethics Feedback The correct answer is: utilitarian framework of ethics Question 15 Correct 6.25 points out of 6.25 Flag question Question text

Amanda and Jeremy argue about the employment of children in tobacco farms in a certain part of the world. Jeremy is of the view that this practice is ethical. He supports this view by stating facts about how the economic and social gains from employing children in these farms outweigh the long-term economic losses due to health problems and lack of education suffered by these children. Jeremy is most likely an adherent of _____. Select one: a. virtue ethics b. deontological ethics c. utilitarianism d. classicism Feedback The correct answer is: utilitarianism Question 16 Correct 6.25 points out of 6.25 Flag question Question text Identify the statement that most accurately describes the difference between the market and the administrative versions of utilitarianism. Select one: a. The administrative version of utilitarianism promotes policies that protect property rights and encourage competition. b. The administrative version of utilitarianism uses social sciences to predict consequences. c. The administrative version of utilitarianism turns to policy experts for the design and implementation of policies. d. The administrative version produces those goods that the consumers want. Feedback The correct answer is: The administrative version of utilitarianism turns to policy experts for the design and implementation of policies. Question 17 Correct 6.25 points out of 6.25

Flag question Question text The _____ tradition claims that our fundamental human rights, and the duties that follow from them, are derived from our nature as free and rational beings. Select one: a. utilitarian b. virtue-based c. role-based d. Kantian Feedback The correct answer is: Kantian Question 18 Correct 6.25 points out of 6.25 Flag question Question text _____ are ethical rules that put values into action. Select one: a. Morals b. Attitudes c. Virtues d. Principles Feedback The correct answer is: Principles Question 19 Correct 6.25 points out of 6.25

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Flag question Question text _____ understandings of social justice argue that freedom from coercion by others is the most central element of social justice. Select one: a. Anarchist b. Egalitarian c. Libertarian d. Conservative Feedback The correct answer is: Libertarian Question 20 Correct 6.25 points out of 6.25 Flag question Question text Which of the following focuses on the concept of business practices and what type of people these practices are creating? Select one: a. Virtue ethics b. Kantian ethics c. Utilitarian ethics d. Principle-based ethics Feedback The correct answer is: Virtue ethics

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