Chapter 2 - CHAPTER 2—BUSINESS ETHICS AND SOCIAL...

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Unformatted text preview: CHAPTER 2—BUSINESS ETHICS AND SOCIAL RESPONSIBILITY TRUE/FALSE 1. Business ethics provides a guarantee of profitability. ANS: F NAT: AACSB: Ethics TOP: business ethics 2. Unethical behavior is not necessarily illegal behavior. ANS: T NAT: AACSB: Ethics TOP: business ethics 3. A lack of business ethics can result in a lack of business goodwill. ANS: T NAT: AACSB: Ethics TOP: business ethics 4. Business ethics is the application of standards for moral reasoning to business dilemmas. ANS: T NAT: AACSB: Ethics TOP: moral standards 5. Situational ethics is also known as moral relativism. ANS: T NAT: AACSB: Ethics TOP: moral standards 6. Natural law and positive law are one and the same theories of moral standards. ANS: F NAT: AACSB: Ethics TOP: moral standards 7. Milton Friedman's standard for business social responsibility is one that requires a company to do all that it can for its community. ANS: F NAT: AACSB: Ethics TOP: Friedman 8. The inherence school is one that follows the standard of society's interest coming first. ANS: F NAT: AACSB: Ethics TOP: inherence 9. The enlightened self-interest school manager serves only the shareholder. ANS: F NAT: AACSB: Ethics TOP: self-interest 10. Invisible hand managers do not become involved in social issues. ANS: T NAT: AACSB: Ethics TOP: invisible hand 11. The social-responsibility school holds that businesses profit by being responsive to society. ANS: T NAT: AACSB: Ethics TOP: social responsibility 12. Business self-regulation has been effective in solving social problems. ANS: F NAT: AACSB: Ethics TOP: self-regulation 13. Giving a false impression, although not actually an untruth, is still an ethical violation. ANS: T NAT: AACSB: Ethics TOP: ethical dilemmas 14. A code of ethics is an individual firm's behavior standard for employees. ANS: T NAT: AACSB: Ethics TOP: ethics code 15. Most businesses today do not have a code of ethics. ANS: F NAT: AACSB: Ethics TOP: ethics code 16. Condoning unethical behavior is an ethical breach. ANS: T NAT: AACSB: Ethics TOP: ethical dilemmas 17. Personal choices and lifestyles have no impact on one's business ethics. ANS: F NAT: AACSB: Ethics TOP: ethical dilemmas 18. The "front page of the newspaper test" is an application of whether conduct gives the appearance of impropriety. ANS: T NAT: AACSB: Ethics TOP: ethical tests 19. The first question of the Blanchard/Peale model for resolving ethical dilemmas is whether the conduct is legal. ANS: T NAT: AACSB: Ethics TOP: ethical tests 20. Whether everyone else does it is one method for evaluating the ethics of a particular course of action. ANS: F NAT: AACSB: Ethics TOP: ethical tests 21. "I was just following orders," is a defense in law and a test for ethical behavior....
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Chapter 2 - CHAPTER 2—BUSINESS ETHICS AND SOCIAL...

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