Ethics

Question 1

It refers to the principles and values that guide the behavior of individuals and
organizations in the business world.

Answer 1

Business ethics

Question 2

It means to know right from wrong and to know when you’re practicing one instead of
the other

Answer 2

ethics

Question 3

It is the application of ethical behavior in a business context

Answer 3

business ethics

Question 4

It forces you to clarify your own values and principles

Answer 4

writing a code of ethics

Question 5

It provides some protection against claims of unfairness.

Answer 5

writing a code of ethics

Question 6

Why is business ethics important?

Answer 6

Better decision-making
Build credibility
Build trust

Question 7

The world’s most successful investor that prioritizes personal integrity over anything else
for a new hire.

Answer 7

Warren Buffet

Question 8

It communicates what kind of person you are in how you treat yourself and others

Answer 8

Personal Integrity

Question 9

This is to help us prepare ourselves to have the key knowledge in learning how to
recognize and deal with the ethical challenges that we may encounter as we walk through
our own venture

Answer 9

Business ethics

Question 10

These are situations that involve conflicts or controversies over what is and is not the
right thing to do.

Answer 10

Ethical issues

Question 11

One of the ethical issues that occurs when individuals must choose between taking
actions that promote their personal interests over the interest of others.

Answer 11

Conflicts of interest

Question 12

An ethical issue that occurs when our decision-making is being influenced by an
affiliation with an individual or organization

Answer 12

Conflicts of loyalty

Question 13

An act of a man or a woman who, believing in the public interest overrides the interest of
the organization. he serves, publicly blows the whistle if the organization is involved in
corrupt, illegal, fraudulent, or harmful activity

Answer 13

Whistleblowing

Question 14

It is essential to know and understand to maintain honesty and integrity in a business
environment

Answer 14

Personal integrity

Question 15

It involves being open, honest, and forthcoming in all your communications with
colleagues and clients

Answer 15

Transparency

Question 16

It refers to the moral principles that guide our behavior and decision-making in the
workplace

Answer 16

ethical standards

Question 17

It involves taking ownership of your actions and decisions, and being responsible for the
consequences that follow.

Answer 17

accountability

Question 18

It is the concept that businesses should be accountable not just to their shareholders but
also to their stakeholders.

Answer 18

corporate social responsibility

Question 19

It refers to the voluntary actions taken by a company to improve its social and
environmental impact beyond what is required by law

Answer 19

corporate social responsibility

Question 20

Why is Corporate Social Responsibility important?

Answer 20

Build strong reputation
Help attract employees
Manage risk
The right thing to do

Question 21

Involves finding justifications or excuses for engaging in unethical behavior, often to
alleviate guilt or preserve self-image

Answer 21

Rationalization

Question 22

Actions that are against social norms or acts that are considered unacceptable to the
public

Answer 22

unethical behavior

Question 23

Increasing interconnectedness and interdependence among countries and economies

Answer 23

globalization

Question 24

Impact of Globalization

Answer 24

expand market reach

Question 25

The process by which businesses or other organizations develop international influence or
start operating on an international scale

Answer 25

globalization