Business Ethics Chapter 7 and 8

What is a key ethical concept in business law that emphasizes treating all parties fairly?

• Fairness and Equity

• Accountability

• Confidentiality

• Transparency

Which ethical principle requires businesses to provide accurate information to all parties involved?

• Conflict of Interest

• Sustainability

• Non-Discrimination

• Honesty and Truthfulness

What does the concept of transparency in business ethics promote?

• Employee satisfaction

• Profit maximization

• Legal compliance only

• Trust and confidence

Which ethical concept involves respecting the property rights of others?

• Intellectual Property

• Corporate Social Responsibility

• Accountability

• Whistleblower Protection

What is the primary reason laws are considered inadequate for business ethics?

• They are too complex

• They are universally accepted

• They cannot cover every ethical dimension

• They are always enforced

Which of the following is an example of a cultural variation in ethical standards?

• Corporate Social Responsibility

• Environmental Responsibility

• Bribery and Gift-Giving Practices

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What is a potential consequence of a narrow focus on legal compliance?

• Increased employee morale

• Enhanced corporate reputation

• Value-driven behavior

• Ethically questionable decisions

What does self-governance in business ethics enable organizations to do?

• Establish higher ethical standards

• Focus solely on profit

• Ignore stakeholder expectations

• Avoid all legal requirements

Which ethical principle encourages the protection of individuals who report unethical practices?

What is the role of corporate social responsibility (CSR) in business ethics?

• To comply with legal standards only

• To benefit society beyond legal obligations

• To increase shareholder profits

• To minimize operational costs