45648129.docx - or False True or False no 1 2 1 Why Study...

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1According to one perspective of business ethics, no one other than business managers and owners may claim to have a stake in the business decisions managers make.13470411122The free market view holds that maximizing profits for its shareowners and providing the public with the goods and services they want, is enough to satisfy a business’ social responsibility.3The common understanding of business social responsibility is that business owners may well have to sacrifice profits if the well-being of its employees and the community it operates in demands it. 4Because the language of ethics is so different from talk about the operational fields of finance, marketing, accounting, management, law, and human resources, ethical concepts and categoriesare not relevant to these fields. A)TRUE FALSE Why Study Ethics1347041112
B)
5Because people already know right from wrong, the study of business ethics is simply an unprofitable exercise.
6If something is seriously wrong, the law will prohibit it. Consequently, it’s enough to rely on the law for deciding what’s right or wrong.
7What people do value and what they should value are not necessarily the same TRUE 2
8The major reason to study ethics is that whether or not we examine the questions “what should I do?” or “what type of person should I be?” or “how shall we live in community?” we answer them in the course of living our everyday lives. A)TRUE B)FALSE 82
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9As long as individuals follow the mores, customs, and rules of their culture or society, they are assured that their actions are ethically correct.
10Philosophical ethics distinguishes what people do value from what they should value.
B)Which statement correctly reflects the free market view of business social responsibility?
A)In addition to making a profit, businesses are just asresponsible for seeing to the well-being of their employees and the communities in which they operate B)No one other than the managers and owners of a business may claim to have any stake in the business decisions managers make. C)In the process of providing goods and services to customer who need and want them and maximizing profits for its shareowners, a business fulfills its social responsibility D)A business is responsible for maximizing profits for its shareowners, but, in special circumstances, may have to sacrifice profits in the interest of the community whose citizens depend on it for employment.
2Which of the following statements is decisive in determining whether or not to study business ethics?

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