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Exam 3: Ethics in Business

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Question 31

True/False

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As part of the IDDR approach described in the text, it is important to list many possible actions and analyze them using several different ethical theories.

A) True
B) False

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Question 32

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When adopting duty-based ethics, corporations often demonstrate the duties they owe

A) through required government disclosure forms.
B) in their mission statements and strategic plans.
C) by adopting a corporate religion.
D) in the biographies of corporate leaders.

E) All of the above
F) B) and D)

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Question 33

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Duty-based ethical standards are most likely to derive from

One of the most important ways to maintain an ethical workplace is for management to set standards and expectations for ethical behavior.

If a company strictly complies with existing laws, the firm will

Adhering to utilitarian ethics in making a business decision is likely to result in an action that is considered morally correct if it produces the greatest good for

"Be honest and treat people fairly." In regard to business ethics, implementing this motto is

Corporate "citizenship" involves making decisions beyond just maximizing profits and dividends.

Under the principle of rights theory, a key factor in determining whether a business decision is ethical is how that decision

Data Inc. adheres strictly to the goal of maximizing profits. Data will benefit from ethical behavior

Company codes of conduct outline company policies on particular issues and how employees are expected to act.

Making a business decision based on its projected financial outcome and then arguing that the decision is ethical is

Ethics is a branch of philosophy that focuses on morality.

One view of the role of business in society is the perceived duty of a company only to generate revenue for its owners.

Once a company has investigated any foreign suppliers, it is unnecessary to continue to monitor those suppliers.

Rationalization is the process of making a logical decision based in evidence and an analysis of the ethical dimensions of the decision.

Cloud Source LLC sells to Distribution Inc. a promising idea for a technological innovation that looks promising but that is still being developed. This is

The National Association of Manufacturers (NAM) announces a new industry code of ethics. The effectiveness of this code will be determined by

Sports Equipment Corporation sells a profit-generating product that is capable of seriously injuring consumers who misuse it in a foreseeable way. The firm's managers are contemplating adding a warning to the product but that warning will increase the cost of the product, and they are worried that it may deter some potential customers from buying it. Thinking about the two main theories of the role of business in society, discuss whether the corporation would behave ethically by continuing to sell the product without warning.

Peanut Products Company (PPC) makes goods that can cause severe health problems to those with peanut allergies. PPC analyzes the cost of warning people of the risk (which the company's management sees as obvious) and the harm to people if no warning is provided. This analysis most likely is part of