Chapter 1

Question 1

Person’s personal philosophies about what is right or wrong

Answer 1

Morals

Question 2

Organizational priciples, values and norms that may originate from individuals, organizational statements, or from the legal system that primarily guide the individual and group behavior in business.

Answer 2

Business ethics

Question 3

specific and pervasive boundaries for behavior that should not be crossed

Answer 3

Principles

Question 4

most far-reaching change in organization control and accounting regulations since the SEC act. made securities fraud a crim offense, creating oversight board, made executives responsibles for financial reports.

Answer 4

Sarbanes-Oxley Act

Question 5

Act created to deal with the ethical lapses of financial instiutions which lead to a recession

Answer 5

Dodd-Frank Wall Street Reform and consumer Protection Act

Question 6

How many employees report unethical behavior in their organizations?

Answer 6

about 50%

Question 7

Who do business ethics comprise?

Answer 7

comprises organizational principles. values, and norms

Question 8

What are values?

Answer 8

Enduring beliefs and ideals that are socially enforced

Question 9

At what time period were environmental issues, civil rights issues, increased employee-epmployer tension, changing work ethic, and rising drug use a problem?

Answer 9

1960s

Question 10

What time period was employee militancy, human rights issues, cover ups, disadvantaged consumers, and transparency issues?

Answer 10

1970s

Question 11

When were bribes and illegal contacting practices, influence peddling, deceptive advertising, and fonancian fraud issues?

Answer 11

1980s

Question 12

When were sweatshops and unsafe working conditions in third world countries, rising corporate liability, financial mismanagement an dfraud, and organizational ethical misconduct issues?

Answer 12

1990s

Question 13

When were cybercrime, Financial misconduct, Global issues, Chinese Product Safety, Sustainability, and Intellectual property theft issues?

Answer 13

2000s

Question 14

What did the progressive movement attempt to provide citizens?

Answer 14

A “living wage”

Question 15

What is a living wage?

Answer 15

income sufficient for education, recreating, health, and retirement

Question 16

What did the new deal of the 30s ask of business?

Answer 16

To work with government to raise family income

Question 17

What did Truan’s fair deal define as ethical issues that businesses had to address?

Answer 17

Environmental responsibility and civil rights

Question 18

Until the 1960s how were ethical issues in business usually discussed?

Answer 18

Through Theology

Question 19

What did Catholic Social Theory focus on?

Answer 19

morality in business, workers’ rights, and living wages; humanistic values rather tyan materialistic ones; improving the conditions of the poor

Question 20

Whgat was the first book on ethics, when was it written, and who authored it?

Answer 20

1936; Sharp and Fox

Question 21

What were some major issues of the 60s

Answer 21

Military Industrial complex and pollution

Question 22

What showed the rise of consumerism in 1962?

Answer 22

JFK’s consumer bill of rights

Question 23

What are a consumer’s rights?

Answer 23

The right to safety, to be informed, to choose, and to be heard

Question 24

The Modern consumerist movement is generally considered to have begun in ____ by ____

Answer 24

1965; Ralph Nader’s unsafe at any speed.

Question 25

What did Johnson's "great society" do?

Answer 25

said business resp. for providing all citizens with some degree of economic stability, equality, and social justice.

Question 26

What happened to business in the 1970s

Answer 26

it began to develop as a field of study

Question 27

What is corporate social responsibility?

Answer 27

An organization's obligation to maximize its positibe impact on stakeholders and minimize its negative impact

Question 28

What was a major piece of legislation passed by carter in 1976

Answer 28

Foreign Corrupt Practices Act

Question 29

What happened to business ethics in the 1980s?

Answer 29

It became a acknowledged as a field of study

Question 30

Who developed the concept of Stakeholders in the 1980s

Answer 30

Freeman

Question 31

What developed in the 80s to guide corp. support for ethical conduct?

Answer 31

Defense Industry Initiative on Business Ethics and Conduct

Question 32

What were the six principles of the DII?

Answer 32

1. Distribution of understandable codes of conduct 2. Ethics training and continuous support 3. Open atmosphere condusive to reporting violations 4. internal audits and internal reporting and voluntary reporting 5. Perserve integrity of defense industry 6. public accountability

Question 33

What was the DII the base for?

Answer 33

the FSGO

Question 34

What happened in the Bush-Reagan in the 1980s?

Answer 34

Self regulation

Question 35

What legislation was passed in 1991 and set the tyone for organization ethical compliance programs?

Answer 35

Federal Sentencing Guidelines for Organizations

Question 36

What is the main concept of the FSGO

Answer 36

Companies could minitage penalities by creating ethical compliance program.

Question 37

What was the main thrust of 21st century bus eth.

Answer 37

Public demand for reform b/c non complying corp.

Question 38

What act did congress pass in 2002?

Answer 38

Sarbanes Oxley

Question 39

What is the most far-reaching change in organizational control and accounting regulations since the securities and exchange act of 1934

Answer 39

Sarbox

Question 40

What are the four main concepts of Sarbox?

Answer 40

1. securities fraud is a criminal offense 2. Accounting oversight board (greater transparency in accounting) 3. top executivies responsible for financial statements (risk fines/prison) 4. executive must disclose stock sales immediately, and no loans to managers.

Question 41

What ammendmants to FSGO occured in 2000s?

Answer 41

business governing authority bhe well informed about its ethics program with respect ot content, implementation, and effectiveness

Question 42

What reform act did Obama help pass in 2010

Answer 42

Dodd Frank

Question 43

What did dodd Frank do?

Answer 43

make the financial services industry more ethical and responsible.

Question 44

What is ethical culture?

Answer 44

acceptable behavior defined by the company and industry?

Question 45

What does ethical culture do?

Answer 45

creates shared values and support ethical decisions--driven by top management

Question 46

What is the goal of ethical culture/

Answer 46

minimize need for enforced compliance | maximize utilization of principles/ethical reasoning in difficult of new situations

Question 47

What is a global ethical culture?

Answer 47

Collaborative efforts to establish goals and set minimum levels of ethical behavior

Question 48

What are some organizations support a global ethical culture?

Answer 48

EU, NAFTA, MERCOSUR, WTO

Question 49

What international standards are there for business?

Answer 49

UN Global Compact

Question 50

What are three effects ethical culture has on performance?

Answer 50

Employee commitment in trust Investor Loyalty and Trust Consumer Satisfaction and Trust

Question 51

What ethical contributions are employees concerned about?

Answer 51

safe work environment, competitive salaries nad benefits packages, fulfillment of contractual obligations

Question 52

How has the field of ethics changed?

Answer 52

It is a part of achieving competitive advantage now, rather than being a compliance standard.

Question 53

From where do business ethics originate?

Answer 53

that may originate from individuals, organizational statements, or from the legal system that primarily guide individual and group behavior in business.