BUSINESS ETHICS

Question 1

What Greek word does ethics come from?

Answer 1

Ethos

Question 2

This pertains to the values, norms, and beliefs that determine how people behave in everyday life.

Answer 2

Ethics

Question 3

Systems and actions that guide
people on how to live their lives as they
relate to other people around them.

Answer 3

Ethics

Question 4

TRUE OR FALSE?

Business ethics is based on the personal values and standards of each person in the organization?

Answer 4

True

Question 5

Refers to standards of moral conduct,
behavior and judgment in business. Involves making the moral and right decisions while engaging in such business
activities.

Answer 5

BUSINESS ETHICS

Question 6

An area of corporate responsibility
where businesses are legally bound and
socially obligated to conduct business in
an ethical manner.

Answer 6

BUSINESS ETHICS

Question 7

An alternative channel where employees can provide information on illegal, unethical transactions or behavior prohibited by the Code of Conduct should be established.

Answer 7

Whistleblower Channel

Question 8

This is characterized by actively misrepresenting about the product or customers: deceptive
packaging, misbranding or mislabeling ,
false advertising.

Answer 8

Direct Misrepresentation

Question 9

This is debasing a pure or genuine commodity by imitating or counterfeiting it.

Answer 9

Adulteration

Question 10

This is the type of misrepresentation where the weighing scale is tampered with or something is attached to it so that the scale registers more than the actual weight.

Answer 10

Weight Understatement

Question 11

The type of misrepresentation where the seller gives the customer less than the number asked for or paid for.

Answer 11

Quantity Understatement

Question 12

The type of unethical business practice where the seller is not obligated to reveal any defect in the product or service he is
selling.

Answer 12

Indirect Misrepresentation
(Caveat Emptor)

Question 13

Ignorance of seller where he is unable to provide the
customer with complete information the latter needs to make a fair decision.

Answer 13

Passive Deception

Question 14

The process of appealing to the emotions of a prospective customer and urging him to buy an item,
without considering the interest of the buyer.

Answer 14

Over-Persuasion

Question 15

Actions of the corporation and its officers, that are contrary to prevailing laws and gov’t regulations.

Answer 15

Illegal Acts

Question 16

Actions of the corporation and its officers, that are
against social norms or unacceptable to
the public.

Answer 16

Unethical Acts

Question 17

This is a collection of rules and principles
intended to assist employees and directors
in making decisions about their conduct in
relation to the firm’s business.

Answer 17

Code of Conduct

Question 18

TRUE OR FALSE:

There are different aspects to ethical decision making; different individuals can have varying legitimate perspectives on ethical issues.

Answer 18

True

Question 19

TRUE OR FALSE:

The ethical intensity of the issue does not influence the decision; ethical decisions are always universal.

Answer 19

False

Question 20

TRUE OR FALSE:

It is important to know one’s own values, as that influences how one sees, interprets and relates to organizational values.

Answer 20

True

Question 21

TRUE OR FALSE:

Organizational values should be implicit and rarely discussed within work.

Answer 21

False

Question 22

TRUE OR FALSE:

Formal policies, codes and rules should be supported by organizational management to limit the opportunity for ethical behavior.

Answer 22

False

Question 23

TRUE OR FALSE:

The ethical intensity of the issue may influence the decision. In other words, ethical decisions are not necessarily universal, but may be situational.

Answer 23

True

Question 24

TRUE OR FALSE:

Knowing one’s own values is irrelevant to how one interprets and relates to organizational values.

Answer 24

False

Question 25

TRUE OR FALSE:

Organizational values should be explicit, lived and discussed within work.

Answer 25

True

Question 26

TRUE OR FALSE:

Different individuals always have the same perspective on ethical issues.

Answer 26

False

Question 27

TRUE OR FALSE:

Formal policies, codes, and rules should be supported by organizational management to promote ethical behavior.

Answer 27

True