BDG Week 3 Quiz

What is the first step in the ethical decision-making process?

• Identify the problem

• Evaluate the alternatives

• Implement the decision

• Review the decision

What is the third step in the ethical decision-making process?

• Identify the ethical issues

• Gather the facts

• Evaluate alternative actions

• Make a decision

Which step involves evaluating the decision in the ethical decision-making process?

• Reviewing the decision

• Identifying the problem

• Considering the consequences

• Implementing the decision

Understanding the importance of ethics in business is crucial because:

• it builds trust with customers and clients.

• it increases short-term profits.

• it allows businesses to avoid all legal issues.

• it guarantees business success.

The role of regulations and standards in promoting ethical behavior is to:

• Ensure compliance and accountability

• Limit innovation and creativity

• Increase operational costs

• Reduce transparency

What is involved in making a decision in the process of ethical decision making?

• Identifying the ethical issues, considering the consequences, and making a choice

• Ignoring the ethical issues and focusing on the outcome

• Making a decision based solely on personal gain

• Consulting only with friends and family

Why is it important to gather information once an ethical dilemma has been identified?

• To ensure all perspectives are considered

• To delay decision making

• To avoid responsibility

• To simplify the problem

It is essential to consider the potential consequences of different courses of action in ethical dilemmas because:

• it helps in making informed decisions.

• it is a legal requirement.

• it is a tradition.

• it is a way to avoid responsibility.

Companies can attract customers and investors by operating ethically through:

• Offering lower prices

• Providing high-quality products

• Building trust and reputation

• Increasing advertising

Ethical behavior promotes employee retention and satisfaction because it:

• Increases trust and loyalty among employees

• Leads to higher financial incentives

• Reduces the need for training programs

• Encourages competition among employees