Chapter 2 WORKSHEET (18 pts) - Chapter 2 Business Ethics...

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Chapter 2: Business Ethics and Social Responsibility WORKSHEET 1. What are ethics? Beliefs about what’s right and wrong or good and bad 2. Describe business ethics: used to refer to ethical or unethical behavior by employees in the context of their jobs 3. The standards of behavior that guide individual managers in their work are called: managerial ethics 4. When does a conflict of interest occur? When an activity may benefit the individual to the detriment of this or her employer 5. When assessing ethical behavior state the three steps for making ethical decisions in business situations: -gather the relevant factual information -analyze the facts to determine the most appropriate moral value -make an ethical judgment based on the rightness or wrongness of the proposed activity or policy 6. Two of the most common approaches to formalizing top management commitment to ethical business practices are: -adopting written codes -instituting ethics programs 7. What company practices dealing with business ethics have firms like ExxonMobil and Boeing set up?
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