Quiz: Business Ethics

What if…. The widgets are no longer made in the US? According to the maximizing profits perspective, this action would be:

Ethical if no laws are broken

What if… the foreign company is not subject to US quality control regulations? According to a Kantian approach to ethical decision making, this action would be:

Ethical if society benefitted from everyone acting that way

What if… faulty or substandard widgets could affect the company’s final product? According to a Utilitarian approach, this action would be:

Ethical if its impact is positive for the majority of people

What if… faulty or substandard widgets could make the company’s final product dangerous to users or the environment? According to a moral minimum approach, this action would be:

Unethical if there is a risk of harm

Ethics is defined as "how one should act, in a given situation, as defined by [blank]."

society

So long as an action is legal, it is ethical.

False

The law does not control behavior because (choose all that apply):

There is uncertainty in the law

The law is reactive, not proactive

Loopholes provide a means to avoid the law

Approaches to ethical decision making include (choose all that apply):

Asking "what if everyone acted this way?"

Religious law

Considering the impact on shareholders and stakeholders

Asking "how does this action impact others?"

Asking "how will most people be impacted by this action?"

Considering the impact on corporate reputation

The key to ethical behavior is to:

Be aware of the implications of your behavior

There are numerous benefits to keeping an ethical focus, personally and professionally. These include (check all that apply):

Being sensitized to behaving ethically

Behaving ethically even when facing struggles

Protecting yourself and your company from liability

Having an ethical perspective when interpreting law

An effective ethics program will (check all that apply):

Integrate the vision of integrity into decision making

Train employees on the vision and values of the company

Align policies and practices with the vision of integrity

Articulate a clear vision of integrity

Match the description or scenario with the proper term.

Corporations have a social responsibility and profitability is secondary

Management's hand

Match the description or scenario with the proper term.

The common good is served best through competition

Invisible hand

Match the description or scenario with the proper term.

Regulations and political processes guide ethical decisions

Government's hand

Bob uses company time and resources to conduct a food drive for the local food pantry. Which CSR view would be okay with this?

Management's hand

The three components of the Triple Bottom Line are:

Profits, environment, society