Business Ethics Vocab 1
set of standards of conduct that guide decisions and actions based on duties derived from core values
A. Benchmarks B. Rituals C. Behaviors D. Ethics
What is Ethics?
Which of the following is defined as a set of written standards issued by an organization to assist its employees in conducting their actions in conformity with the organization’s ethical values?
A. Employee handbook
B. Code of ethics
C. Annual evaluation
D. Ethics audits
What are Code of ethics?
the estimation in which a person or thing is held, especially by the community or the public generally; repute
What is reputation
The two businesses Judge Parker mention to explain the positive or destructive role of ethics in business?
What are Chick-fil-A vs. Enron?
“It takes many good deeds to build a good reputation and only one bad one to lose it.”
a. Martin Luther King Jr.
b. Spencer Johnson
c. Benjamin Franklin
d. unknown
Who is Benjamin Franklin?
Which of the following terms is defined as action guided by a set of principles of morality?
A. Legal behavior
B. Mannerly behavior
C. Lawful behavior
D. Ethical behavior
What is Ethical behavior?
Which of the following terms is defined as “duties and obligations of businesses which contribute to the well-being of society”?
A. Business moral responsibility
B. Business lawful behavior
C. Business social responsibility
D. Business code of ethics
What is Business social responsibility?
is a shared understanding of the beliefs and assumptions, which reflect the way members perceive the environment, its norms, roles, and values
What is Culture?
Which of the following best describes a business which takes effort to protect the environment and promotes using renewable resources?
A. Creative business
B. Reliable business
C. Sustainable business
D. Practical business
What is Sustainable business?
A good reputation is more valuable than
What is money?
Which of the following terms is defined as conduct in accordance with what a person determines is right versus wrong?
A. Legal behavior
B. Moral behavior
C. Lawful behavior
D. Mannerly behavior
What is Moral behavior?
Which of the following terms is defined as “all the parties which interact with the business”?
A. Shareholder
B. Stakeholder
C. Customer
D. Employee
What is a Stakeholder?
adherence to a strict moral or ethical code
What is Integrity?
Steve lives in a neighborhood close to a waste water company. The company’s water solution will directly affect the water quality in Steve’s home. What is Steve’s relationship to the waste water company?
A. Shareholder
B. Stakeholder
C. Customer
D. Employee
What is a Stakeholder?
"Real integrity is doing the right thing knowing that nobody's going to know if you did it or not."
a. Oprah Winfrey
b. Spencer Johnson
c. Benjamin Franklin
d. Michelle Obama
Who is Oprah Winfrey?
Which of the following terms is defined as an organization’s financial statement containing untrue data which is used to mislead?
A. False financial statement
B. Bankruptcy discharge
C. Bank statement fee
D. Identity theft
What is False financial statement?
Which of the following terms is defined as “conduct based on or authorized by law which is established by society to maintain order and protect people and property from harm?”
A. Moral behavior
B. Legal behavior
C. Ethical behavior
D. Mannerly behavior
What is Legal behavior?
arises from the sense of right and wrong, concerned with the goodness or badness of human action and character
What are Morals?
Which of the following should a person NOT do during an ethical decision making process?
A. Review the company’s code of ethics
B. Study laws and regulations of an industry
C. Consider stakeholders’ interests
D. Make a choice based on company’s profits
What is make a choice based on company’s profits
"As I have said, the first thing is to be honest with yourself"
Who is Kwajeri Pollard?
Which of the following terms is defined as an entrusted person who converts other’s assets or property for his or her own use?
A. Identity theft
B. Embezzlement
C. Advance fee scheme
D. Bond fraud
What is Embezzlement?
Anna owns a neighborhood bakery. She consults her accountant to make sure she pays proper taxes, uses good quality ingredients for her products, and provides her employees a safe working environment. Which of the following CANNOT be used to describe Anna’s actions?
A. Moral behavior
B. Legal behavior
C. Ethical behavior
D. Mannerly behavior
What is Mannerly behavior?
intermediate in character or position; “a gray area between clearly legal and strictly illegal”
What is Gray?
Which of the following is the first step of the ethical decision-making process?
A. Study the laws and regulations
B. Review the code of ethics
C. Identify the ethical problem
D. List possible solutions
What is Identify the ethical problem?
"Integrity is telling myself the truth. And honesty is telling the truth to other people"
a. Bob Marley
b. Spencer Johnson
c. Oprah Winfrey
d. Magic Johnson
Who is Spencer Johnson