Basic Principles Ethics and Business

What is ethics?

• holding or manifesting high principles for proper conduct

• a set of principles that contains behavioral codes to determine what is right or wrong

• the state or fact of having a duty to deal with something or of having control over someone

• the quality of being honest and having strong moral principles

Business ethics is about...

• the application of ethical values to business behavior

• the application of ethical values at home

• the application of ethical values at school

• the application of ethical values to individual

Why it is necessary to manage businesses ethically?

• To keep existing customers

• To attract new customers

• To reduce employee turnover

• All of these

Which of the following are the example of unethical business practices?

• Follow rules and regulations

• Emphasize honesty in workplace

• Respect for Intellectual Property

• Misusing company time

We learn and adapt to the ethics and moral principles through our...

• upbringing

• socialization

• all of these

• experiences

A system of moral principles or rules of conduct relating to human behavior.

• Reputation

• Ethical dilemmas

• Code of Ethics

• Integrity

What is a benefit of good business ethics?

• Good word of mouth from customers.

• High turnover rate

• Increase in demand

• Increase in supply

What is a consequence of treating workers unfairly?

• Low turnover

• Low morale

• Low profits

• Low production

Who is responsible for ethics in an organization?

• Employees

• Senior Management

• HR

• All of these

A (n) ________ is a problem, situation, or opportunity requiring an individual, group, or organization to choose among several actions that must be evaluated as right or wrong.

• bribery

• crisis

• Indictment

• ethical Issue