OGL Review Quiz (13/5/25)

Why would it be in a business's interest to act ethically?

• If they act illegally they could be punished under the law

• People are more willing to support businesses they see as ethical

• The business will likely act in a more sustainable way with resources and customers (and thus last longer)

• All of the above

What is business ethics?

• The system of laws and legal procedures that govern business behaviour

• A commitment to treat customers, clients, and employees with honesty and integrity

What is an ethical system (or ethical lens)?

• A consistent, rational, universal way to approach problems of right and wrong

• A legal system that has laws and procedures people must follow

• People's opinions and beliefs of right and wrong

Match the ethical system with its core idea

• Caring for relationships

• Virtue ethics

• Being a virtuous person

• Deontology

• Consequences

• Care ethics

• Duty

• Utilitarianism

Match the ethical system with its core question

• Does this action follow moral rules?

• Virtue ethics

• Is this what a virtuous person would do?

• Utilitarianism

• Does this action maximize happiness?

• Care ethics

• Does this act strengthen relationships?

• Deontology

Who is: Anybody "inside or outside a business [who has] an interest in the way it brings proucts or services to market to turn a profit."

• Employees

• Shareholders

• Regulators

• Stakeholders

Businesses are responsible to their stakeholders

• TRUE

• FALSE

What is the idea that a business's only responsibility is to maximize profit for its shareholders?

• Shareholder primacy

• Stakeholder relations

• Utilitarianism

• Voodoo economics

What is "The system of rules, practices, and procsses by which a company is directed and controlled"? (Investopedia).

• Governance

• Regulation

• Ethics

• Laws

What are some of the problems with CSR? Select all that apply

• CSR cannot change the underlying business model, which may be harmful

• CSR can help to cover up bad behaviour (reputation laundering)

• CSR makes businesses have less profits

• CSR is not monitored, and companies are not legally punished for failing in their CSR goals