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WorksheetsEntrepreneurship I - Business Ethics
Total questions: 20
Worksheet time: 10mins
You decide not to take a certain action because you know it’s the wrong thing to do. You have made this decision based on your
peers.
ethics.
regulations.
laws.
A business’s ethics determine whether or not an action is acceptable for that business, especially if the action
affects the environment.
is illegal.
contributes to the business’s profitability.
has a negative impact on others.
Which of the following is a true statement about business ethics and the law:
The two are not the same thing, but they do overlap.
Everything that is illegal is also unethical.
Everything that is unethical is also illegal.
The two have nothing to do with each other.
One difference between business ethics and the law is that business ethics
are often unwritten.
must be published.
are enforced by government.
are easy to determine
Understanding business ethics can be difficult since
there are no industry-specific ethical codes.
it is a relatively new field of study.
many people aren’t sure how to behave ethically.
it involves a lot of technical terms.
Which of the following is a true statement about breaking the law:
It is acceptable in most industries.
It is necessary for business success.
It will make a company more popular.
It may have different consequences than breaching ethics.
Which of the following is one of the four pillars of a business’s social responsibility:
Political responsibility
Economic responsibility
Media responsibility
Universal responsibility
A large tech company donates a portion of its proceeds to charity. This is an example of __________ responsibility.
legal
ethical
philanthropic
economic
Which of the following is an example of a business’s ethical obligation to its stakeholders:
Sharing trade secrets within its industry
Doubling investors’ money within two years
Providing safe working environments for employees
Allowing the competition to succeed
Why should a business practice good ethics?
An unethical business will go bankrupt.
The government will fine an unethical business.
An ethical business makes more money than all its competitors.
An ethical business contributes toward its own success.
Which of the following is a true statement about ethical business practices:
They do not guarantee positive outcomes.
They are more difficult to undertake than unethical practices.
They are all under government regulation
They ensure that a business will succeed.
A business suddenly moves its operations to a new town, leaving its current employees jobless. Its reason for taking this action, which some consider unethical, might be that the action
benefits the community.
is not illegal.
is committed by unethical employees.
doesn’t hurt anyone
A financial advisor receives a bonus for selling a certain mutual fund. Her reason for taking this action, which some consider unethical, might be that the action
benefits the community.
is acceptable within the industry.
is acceptable in foreign cultures.
is committed by unethical employees.
Some people believe that a business’s only true ethical obligation is to
contribute to charity.
provide jobs.
protect the environment.
make money.
A company goes bankrupt because of its unethical accounting practices. The reason for this
unethical behavior is that the action is
not illegal.
acceptable in a foreign culture.
committed by unethical employees.
acceptable within the industry
Which of the following is a potential consequence of poor business ethics:
Decreased internal problems
Negative public image
Increased customer loyalty
Reduced risk of lawsuits
A business with poor ethics is likely to
avoid fines.
decrease its financial risk
beat the competition.
lose customers.
A business with poor ethics causes internal problems for itself by
improving its public image.
increasing customer loyalty.
decreasing productivity.
decreasing financial risk.
Which of the following is an example of increased financial risk for a company with poor business ethics:
Decreased company value
Increased productivity
Increased sales
Decreased labor costs
Unethical business practices may lower a company’s stock prices because
investors prefer companies they perceive to be ethical.
the government fines unethical companies.
employees resign from unethical companies
unethical companies usually go bankrupt
