Chapter 1

Question 1

Integral part of human society

Answer 1

Business

Question 2

This is insufficient. Can’t cover all aspects of our human behavior

Answer 2

Laws

Question 3

Argues that business enterprise is an organ of society and its actions have a decisive impact on social scene

Answer 3

Peter Drucker

Question 4

Part of decision making at all levels of work and management

Answer 4

Ethics

Question 5

Occur when accepted rules no longer serve and decision makers must weigh values and reach a judgment

Answer 5

Ethical decisions

Question 6

Observed misconduct in the workplace

Answer 6

Misuse of company resources
Abusive behavior
Harassment
Accounting fraud
Conflicts of interest
Defective products
Bribery
Employee theft

Question 7

Concerned with morality in business, workers’ rights, and living wages

Answer 7

Catholic social ethics

Question 8

Encouraged individuals to be frugal, work hard and attain success in the capitalistic system

Answer 8

Protestant work ethics

Question 9

New era of consumerism

Answer 9

JFK’s Consumer Bill of Rights

Question 10

JFK stands for

Answer 10

John Fitgerald Kennedy

Question 11

Four basic rights

Answer 11

Safety
Informed
Choose
Heard

Question 12

Organization’s OBLIGATION to maximize POSITIVE IMPACT and MINIMIZE NEGATIVE impact on stakeholders

Answer 12

Corporate Social Responsibility

Question 13

Issues in corporate social responsibility

Answer 13

Bribery
Environment
Price collusion

Deceptive advertising
Product safety

Question 14

Business ethics bacame an acknowledged field of study and firms established ethics committees

Answer 14

Consolidation

Question 15

Introduced self-regulation that changed the rules of business

Answer 15

President Reagan

Question 16

FSGO stands for

Answer 16

The Federal Sentencing Guidelines for Organization

Question 17

Increased public /political demand for improved ethical standards

Answer 17

Sarbanes-Oxley Act(2002)

Question 18

Increased accounting regulations by whom and when

Answer 18

George W. Bush
July 30, 2002

Question 19

Aimed at making the financial industry more transparent/responsible

Answer 19

Dodd-Frank Wall Street Reform and Consumer protection Act(2010)

Question 20

2 person involved in Dodd-Frank reform

Answer 20

Christopher J. Dodd
Barney Frank

Question 21

Character/decision making process that employees use to determine whether their responses to ethical issues are right or wrong

Answer 21

Ethical culture

Question 22

Comes from employees who invested in the organization and willing to make personal sacrifices for the organization

Answer 22

Commitment

Question 23

Increasingly interested in a company’s reputation

Answer 23

Investors

Question 24

Important factor in a successful business strategy

Answer 24

Customer satisfaction