Business Ethics Quiz

Principles based on a group's idea about what is right and wrong (social group, organization, or society) is known as _________________.

An individual's idea of what is right and wrong, possibly conflicting with the ethics of a business, is known as ___________________.

Principles that help define appropriate behavior in a business setting are known as ______________________.

The expectation that we should carry out ethical principles in daily life is known as ____________________.

Something that asserts and upholds values, such as life, and the protection of rights and property is known as a _____________________.

Define conflict of interest.

Answer explanation

A situation in which an individuals has competing interest or loyalties. Conflicts of interest involve dual relationships.

Define Nepotism.

Answer explanation

The practice among those with power or influence of favoring relatives or friends, especially by giving them jobs.

Define Self-dealing.

Answer explanation

When someone in a position of responsibility acts in their own interest rather than the interest of the organization.

Define Whistleblower.

Answer explanation

A person who informs on a person or organization engaged in illicit activity. There are laws that protect whistleblowers from discrimination and retaliation.

List the three areas of confidentiality and provide an example of each.

Answer explanation

1. Employee Information - SS#, home address, phone number, passwords, medical & disability info

2. Management Information - employee disciplinary actions, impending layoffs/RIF's, terminations, workplace investigations, employee misconduct

3. Business Information - trade secrets, manufacturing processes, business plans, financial data, computer programs, customer lists, formulas, recipes, suppliers lists