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Exam 1: An Overview of Ethics

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Question 1

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In a(n) , an organization reviews how well it is meeting its ethical and social responsibility goals, and communicates its new goals for the upcoming year.

A) ethics review
B) performance appraisal
C) social audit
D) morals assessment

E) None of the above
F) B) and C)

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Question 2

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Briefly describe the difference between morals, ethics, and laws.

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Morals are one's own personal beliefs ab...

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Question 3

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Companies that develop and maintain strong employee relations:

Discuss the role of the board of directors in creating an ethical organization.

frequently include a set of formal, written statements about the purpose of an organization, its values, and the principles that should guide its employees' actions.

The step in the decision-making process during which the decision makers consider laws, guidelines, policies, and principles that might apply to the decision is the step.

The approach to ethical decision making fits easily with the concept of value in economics and the use of cost-benefit analysis in business.

Individual views on what is moral are so strongly held that there is nearly universal agreement in spite of differences in age, cultural group, ethnic background, religion, life experience, education, and gender.

An organization's mission statement highlights its key ethical issues and identifies the overarching values and principles that are important to the organization and its decision making.

A(n) is a clear, concise statement of an issue that needs to be addressed.

Section 406 of the requires public companies to disclose whether they have a code of ethics and to disclose any waiver of the code for certain members of senior management.

A complication of the approach to decision making is that measuring and comparing the values of certain benefits and costs is often difficult, if not impossible.

The term ethics describes standards or codes of behavior expected of an individual by a group to which the individual belongs.

An individual's manager has very little impact on his or her ethical behavior.

Which of the following steps in the decision-making process gathers and analyzes facts and also identifies stakeholders affected by the decision?

The goal of the approach to ethical decision making is to find the single greatest good by balancing the interests of all affected parties.

The chairman of , an Indian­based outsourcing firm, admitted he had overstated the company's assets by more than $1 billion in India's largest ever corporate scandal.

A rapid increase in the appointment of corporate ethics officers typically follows:

Legal acts conform to what an individual believes to be the right thing to do.

The board of directors of an organization is normally responsible for day-to-day management and operations of the organization.