Ethics in Business Quiz

What are ethics?

• The moral principles that represent a person or group

• The financial goals of a business

• The legal requirements for companies

• The marketing strategies of a company

Why is it easier to uphold personal ethics than business ethics?

• Personal ethics involve fewer people

• Business ethics are simpler

• Personal ethics are more complex

• Business ethics are less important

What is the ultimate goal for most businesses?

• To bring in revenue and be the best in their industry

• To uphold ethical standards

• To support social causes

• To reduce production costs

What are business ethics?

• How companies conduct themselves in their practices and policies

• The financial strategies of a company

• The marketing plans of a business

• The legal obligations of a company

What happened to Mattel due to poor business ethics?

• They faced scrutiny for outsourcing manufacturing

• They increased their production costs

• They improved their public image

• They gained more customers

What should companies consider regarding their employees and customers?

• The impact of their ethical decisions

• The cost of production

• The legal requirements

• The marketing strategies

What is a consequence of failing in business ethics?

• Losing customers and bad publicity

• Increasing market share

• Improving employee satisfaction

• Enhancing brand reputation

What is an ethical concept related to social responsibility?

• Duty to society and the environment

• Maximizing shareholder value

• Reducing operational costs

• Expanding market reach

What is a challenge businesses face regarding ethics?

• Balancing revenue goals with ethical practices

• Reducing production costs

• Expanding into new markets

• Increasing employee benefits

Which of the following is an example of social responsibility?

• Increasing profits

• Providing acceptable work environments

• Reducing employee benefits

• Cutting costs