Test Bank For Business Ethics Ethical Decision Making and Cases, 13th Edition By O. C. Ferrell, John Fraedrich, Ferrell 2024.
Test Bank For Business Ethics Ethical Decision Making and Cases, 13th Edition By O. C. Ferrell, John Fraedrich, Ferrell ISBN-9780357513361
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TEST BANK For Business Ethics Ethical Decision Making
and Cases, 13th Edition By O. C. Ferrell, John Fraedrich
Ethics - ANSWER: Choices and judgments about acceptable standards of conduct
that guide the behavior of individuals and groups
Business Ethics - ANSWER: Principles and standards that guide the behavior of
individuals and groups in the business world
Principles - ANSWER: Specific and pervasive boundaries for behavior that are
universal and absolute and often form the basis for rules
Example: freedom of speech
Values - ANSWER: Used to develop norms that are socially enforced
Example: integrity
The most basic of business ethical standards have been codified as - ANSWER: laws &
regulations
___ creates and fosters trust and stakeholder relationships. - ANSWER: business
ethics
Legal system - ANSWER: Provides formal means to resolve ethical and legal disputes
Strong personal morals may be insufficient to prevent laws being broken because... -
ANSWER: laws are complex and can be hard to define
What is the best approach to avoiding criminal and civil litigation? - ANSWER:
Recognizing ethical issues and standards of conduct that include legal and ethical
concerns
Ethical standards need to be outlined in - ANSWER: Corporate policies
T/F
Business decisions are complex and may not be clear-cut - ANSWER: TRUE
Reasons why employees participate in unethical/ illegal behavior - ANSWER: - trying
to advance in positions
- maximize profits
- attempting to achieve organizations goals
Why is it important for organization to create shared vision of acceptable behavior -
ANSWER: People's personal experiences, interests, and values may conflict with
organization's
, 3 Ways to determine if a specific behavior or situation has an ethical component: -
ANSWER: 1. Ask individuals in the business for feedback and guidance
2. Determine whether the organization has adopted specific policies
3. Identify potential legal ramifications
Ethical Issue - ANSWER: Problem, situation, or opportunity that requires a person,
group, or organization to choose among different alternatives that must be
evaluated as right or ethical vs. wrong or unethical
Ethical issues in business - ANSWER: - Abusive or intimidating behavior
- Misuse of company time and resources
- Conflict of interest
- Bribery
- Discrimination and sexual harassment
- Fraud
- Privacy issues
Abusive or intimidating behavior - ANSWER: - Physical threats
- false accusations
- annoying a coworker
- profanity
- insults
- yelling
- harshness
- ignoring someone to the point of being unreasonable and the meaning of these
words can differ by person
• Falls along a continuum
• Consider the intent and the way a word is spoken (voice inflection)
3 of the most fundamental ethical issues in business: - ANSWER: 1. abusive behavior
2. Lying to employees
3. Conflicts of interest
Misuse of company time and resources includes: - ANSWER: - stealing money or
merchandise
- taking office supplies
- using company credit card for personal purchases
- personal use of company computer (most common)
Average employee "steals" more than _____ hrs. per week. - ANSWER: 10
How do employees steal time? - ANSWER: • Late arrivals
• Long lunch breaks
• Leaving early
• Daydreaming
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