Part 1 - Unit 4 - Ethics & Business Ethics Test

What is the primary focus of Business Ethics?

• Maximizing shareholder profits

• Ensuring that business operations are legal

• Guiding principles that inform good business conduct

• Increasing employee productivity

Why is ethical behavior considered beneficial for business?

• It reduces the cost of business operations

• It enhances the company's reputation and customer trust

• It is required by law in all business operations

• It simplifies management decisions

Which of the following is a step in dealing with an ethical dilemma in business?

• Ignoring the less profitable options

• Following the majority opinion

• Assessing the impact of different choices

• Consulting only the senior management

What does 'social responsibility' in business primarily refer to?

• The obligation to increase financial returns

• The duty to engage in fair employment practices

• The responsibility to contribute positively to society

• The requirement to pay taxes

What are ethics defined as in the context of personal, social, and professional conduct?

• Rules set by society to control behavior

• Laws enforced by governmental bodies

• Moral principles guiding personal, social, and professional conduct

• Guidelines for economic transactions only

What are business ethics primarily based on?

• Financial goals

• Moral principles

• Government regulations

• Personal interests

Which of the following is NOT a common commitment of businesses under business ethics?

• Creating jobs

• Treating employees unfairly

• Protecting the environment

• Being truthful about financial situations

What is one consequence of unethical behavior by customers as mentioned in the text?

• Businesses experience higher profits

• Customers receive discounts

• Customers have to pay more

• Businesses reduce their product prices

Why might businesses charge more for their products?

• To increase their market share

• To make up for problems caused by unethical behavior

• To fund corporate social responsibility activities

• To decrease their sales volume

What is considered unethical in the USA and some other countries in the context of business dealings?

• Moderate gift giving

• Excessive gift giving

• No gift giving

• Promotional gift giving