chapter 7 - Your Results: The correct answer for each...

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Your Results: The correct answer for each question is indicated by a . 1 INCORRECT Business ethics concerns A) the application of ethical principles and standards to business activities, behavior, and decisions. B) a business commitment to safe products, high worker compensation, and protection of the environment. C) conducting oneself appropriately in a business setting. D) developing a special set of ethical standards for businesses to observe in conducting their affairs. E) picking and choosing among various ethical standards of society to arrive at a set of ethical standards that apply directly to operating a business. 2 CORRECT Ethical principles in business A) concern the behavioral guidelines a company's top management and board of directors set for company personnel regarding "what is right" and "what is wrong" in conducting the company's business. B) deal chiefly with the actions and behaviors required to operate companies in a socially responsible manner. C) are arrived at by picking and choosing among the consensus ethical standards of society to come up with a set of ethical standards that apply directly to operating a business. D) are not materially different from ethical principles in general and have to be judged in the context of society's standards of right and wrong, not by a special set of rules that business people decide to apply to their own conduct. E) involve behavioral guidelines for balancing the interests of non- owner stakeholders (customers, employees, suppliers, and the communities in which the company has operations) against the interests of company shareholders. 3 INCORRECT Unethical managerial behavior tends to be driven by such factors as A) overzealous or obsessive pursuit of personal gain, wealth, and other self interests; a company culture that puts the profitability and good business performance ahead of ethical behavior; and heavy pressures on company managers to meet or beat performance targets. B) the lack of a company code of ethics. C) a lack of training in what is ethical and what is not. D) confusing differences between what is ethical behavior in one's personal life and what is ethically permissible in business.
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E) All of the above factors. 4 INCORRECT A company's strategy needs to be ethical because A) Potential for embarrassment to top management if the company's unethical behavior is publicly exposed. B) unethical strategies are inconsistent with or else weaken the corporate culture. C) ethics watchdogs are sure to blow the whistle on the company's unethical behavior. D) of the risks of prosecution by governmental authorities if an unethical strategy is disclosed. E) a strategy that is unethical not only damages the company's reputation but it can also have costly consequences. 5
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chapter 7 - Your Results: The correct answer for each...

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