TMTQ - Chapter 4

What is the difference between personal and business ethics?

• Personal ethics are the same as business ethics.

• Personal ethics guide individual behavior in all aspects of life, while business ethics specifically address moral principles in a professional context.

• Personal ethics are more important than business ethics.

• Business ethics are only relevant to large corporations.

Which of the following is NOT a potential consequence of unethical business practices?

• Increased customer loyalty

• Damaged reputation

• Legal penalties

• Loss of investor confidence

How can unethical business practices affect a business's financial performance?

• Unethical practices always improve financial performance.

• Unethical practices can lead to increased costs due to legal fines and lawsuits.

• Unethical practices always have a negative impact on financial performance.

• Unethical practices have no impact on financial performance.

Which of the following statements best describes the relationship between illegal and unethical business behaviors?

• All illegal behaviors are unethical, but not all unethical behaviors are illegal.

• All unethical behaviors are illegal.

• Illegal and unethical behaviors are always unrelated.

• There is no difference between illegal and unethical behaviors.

What is one of the biggest social issues that businesses face today?

• The lack of access to affordable housing.

• Climate change and environmental sustainability.

• The declining birth rate in developed countries.

• The increasing popularity of social media.

How is producing a good or service a way of being socially responsible?

• By simply producing goods, businesses are inherently socially responsible.

• Producing goods or services can be socially responsible if it creates jobs and contributes to economic growth.

• Producing goods or services is never socially responsible.

• Producing goods or services is only socially responsible if it harms the environment.

Which of the following is NOT a benefit of ethical behavior for businesses?

• Improved reputation and brand image

• Increased customer loyalty

• Decreased profits

• Enhanced employee morale

Which of the following is the first step in the ethical decision-making process?

• Identify the stakeholders affected by the decision.

• Implement the chosen course of action.

• Identify the ethical dilemma.

• Evaluate the alternatives.

Which of the following is NOT an example of a company's CSR responsibility towards its employees?

• Providing competitive salaries and benefits.

• Ensuring a safe and healthy work environment.

• Maximizing shareholder profits above all else.

• Offering employee training and development programs.

How can a company demonstrate CSR towards its customers?

• By producing low-quality products at low prices.

• By prioritizing short-term profits over customer satisfaction.

• By ensuring product safety and customer data privacy.

• By engaging in aggressive marketing tactics.