Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 5, Problem 5CRQ
Can an individual be ethical without using ethical principles described in the chapter? Explain.
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5. A risk that has both a high impact and high probability is referred to as
A. Negligible
B. Moderate
C. Low
D. Extreme
6. A business continuity plan is mainly used to_
A. Increase profits
B. Handle daily tasks
C. Prepare for disruptions
D. Advertise services
7. What is the role of a risk owner?
A. To finance the risk
B. To monitor and manage a specific risk
C. To create risks
D. To avoid planning
8. Early warning indicators help businesses to
A. Avoid legal actions
B. Grow rapidly
C. Detect potential risks
D. Hire employees
9. A hazard-based risk includes
A. Political instability
B. Ergonomic issues
C. Market demand
D. Taxation changes
1. What is the primary purpose of risk management in small businesses?
A. To eliminate all risks
B. To predict profits
C. To reduce and control risks
D. To create new risks
2. Which of the following is a type of operational risk?
A. Interest rate change
B. Natural disaster
C. Supplier failure
D. Tax policy change
3. SWOT analysis identifies all EXCEPT
A. Strengths
B. Weaknesses
C. Tactics
D. Opportunities
4. Which strategy involves taking no action against a risk?
A. Mitigation
B. Avoidance
C. Acceptance
D. Transfer
List and briefly describe four risk response strategies.
Chapter 5 Solutions
Principles of Management
Ch. 5.1 - What individual and organizational ethical issues...Ch. 5.1 - What are some signs of unethical activities you...Ch. 5.2 - What are terminal and instrumental values?Ch. 5.2 - What are ways organizations can employ values to...Ch. 5.3 - What are some ethical guidelines individuals and...Ch. 5.3 - Can being aware of the actual values you use to...Ch. 5.4 - How does Aaron Feuerstein exemplify servant...Ch. 5.4 - If Feuerstein had decided to use the insurance...Ch. 5.4 - What role does leadership play in how ethically...Ch. 5.4 - Explain what stewardship is and the role of...
Ch. 5.5 - In what ways do law and compliance complement...Ch. 5.5 - How does stakeholder management differ from...Ch. 5.6 - How do sustainable business practices benefit...Ch. 5.6 - Differentiate the roles compliance and CSR...Ch. 5.7 - What ways can and do some MNEs demonstrate social...Ch. 5.7 - What are some specific ethical business practices...Ch. 5.8 - What are some emerging national and global issues...Ch. 5 - What is the difference between ethics and business...Ch. 5 - What is normative ethics?Ch. 5 - Why are values an important element of ethics for...Ch. 5 - What are the differences between instrumental and...Ch. 5 - Can an individual be ethical without using ethical...Ch. 5 - Identify major classical ethical principles.Ch. 5 - Differentiate between the principle of rights and...Ch. 5 - Why is leadership important for ethical conduct in...Ch. 5 - Identify two types of ethical leaders and the...Ch. 5 - What is the difference between ethics and...Ch. 5 - What is CSR, and why is it important?Ch. 5 - What is stakeholder management?Ch. 5 - What is the difference between stakeholders and...Ch. 5 - What is different about ethics in a global or...Ch. 5 - What are some global issues that corporations must...Ch. 5 - Identify some contemporary ethical and compliance...Ch. 5 - What is a moral entrepreneur?Ch. 5 - Does ethics pay? Explain.Ch. 5 - After reading this chapter, what are major...Ch. 5 - What were the sources and causes the problems in...Ch. 5 - Who were some of the primary decision makers that...Ch. 5 - What were these individuals motives and...Ch. 5 - How were the illegal and fraudulent activities...Ch. 5 - Who was to blame?Ch. 5 - What unethical activities occurred before the...Ch. 5 - What would you have done, if anything, had you...Ch. 5 - How would a stakeholder approach, if taken by the...
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