Ethics and business

Which of the following statements is true about ethical decision making in business?

• Every employee does not face an issue that requires ethical decision making.

• All ethical decisions can be covered by economic, legal, or company rules and regulations.

• Ethical decision making should rely on the personal values and principles of the individuals involved.

• Ethical decision making is limited to the type of major corporate decisions with social consequences.

Philosophers often state that ethics is ( ), which means that it focuses on people's reasoning about how they should act.

• clinical

• circumstantial

• derivative

• normative

In a general sense, anyone who affects or is affected by decisions made within a firm can be called a business ( ).

• stakeholder

• nominee

• analyst

• insider

Which of the following best describes a business stakeholder?

• Anyone who audits a firm

• Anyone who affects or is affected by decisions made within a firm

• Only the minority shareholders in a business entity

• Only those who have acquired significant shares in a firm

Which of the following best describes ethics?

• A descriptive approach such as psychology and sociology

• The study of how human beings should properly live their lives

• A descriptive approach that provides an account of how and why people do act the way they do

• An academic discipline that originated in the early 1900s

Social sciences such as psychology and sociology are different from ethics owing to the fact that they are ( ).

• clinical in nature

• conjectural in nature

• normative in nature

• descriptive in nature

Individual codes of conduct based on one's value structures regarding how one should live, how one should act, what one should do, and what kind of a person should one be is sometimes referred to as ( ).

• leadership

• independence

• morality

• rationality

Morality is the aspect of ethics that we can refer to by the phrase "( )."

• personal integrity

• individual rationality

• personal freedom

• persuasive rationality

Identify the area of ethics that raises questions about justice, law, civic virtues, and political philosophy.

• Social ethics

• Virtue ethics

• Existential ethics

• Stipulative ethics

The aspect of business ethics that examines business institutions from a social rather than an individual perspective is referred to as ( ).

• organizational ethical responsibility

• corporate cultural responsibility

• decision making for social responsibility

• institutional morality