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.

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Answer explanation

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

Define Nepotism.

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

Define Self-dealing.

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

Define Whistleblower.

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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.

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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