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The company's efforts to develop control mechanisms, which will also increase shareholder value and promote satisfaction with shareholders and stakeholders.
The abbreviation COSO stands for The Committee of Sponsoring Organizations of the Treadway Commission.
Cultural norms are the shared, approved, and incorporated structures of beliefs and practices that are handed down through generations and typify a cultural group.
Corporate governance is a set of characteristics that identifies a business.
A conflict of interest is a situation in which personal and/or financial considerations have the potential to influence or compromise professioanl judgment.
Rule utilitarianism is usually deemed as the most natural interpretation of the utilitarian ideal.
One kind of ethics program is the _____ system that depends on self-policing and motivation rather than coercion.
The Sarbanes-Oxley Act of 2002 was created by US senator Philip Sarbanes and US Representative Michelle Oxley.
There is a principle called _____ which is Latin for: let the master answer.
Employment security is about the protection of workers against vacillations in earned income as a result of job loss.
The literal translation of caveat emptor is
_____ are the primary rights of people regardless of their race, sex, religion, political opinion, social status or any other characteristic.
The culture of a company is connected to the characteristics found in the surrounding environment, but it also has some traits that are unique.
Individuals who are shamed, bullied or discriminated against based on preconceived judgments of their appearance, disabilities, or lifestyles are victims of
Only Managers are obliged to make decisions in the business environment every day.
Managers are
The right to due process often comes up when the government needs to take the property of someone for public use.
The approach of social responsibility is based on a system of ethics, in which decisions and actions must be ethically ratified before proceeding.
An utilitarianism generally asks the question "What effect will this act have in this situation on the general balance of good over evil?"
Proprietors do not need to honor any commitments made to employees, customers or clients.
_____ is logic that is used to direct action.
Which of the following is NOT an example of a philanthropic social responsibility initiative?
Philosophical ethics distinguishes what people do value from what they should value.
Female have the right not to be sexually harassed, but male employees do not have this right because a man cannot be sexually harassed.
Which of the following is true about culture?
Ethics refers to
Ultimately, consumers and marketers are responsible for ethical and socially responsible behavior.
Organizations can use ethical marketing as a way to establish trust among their customers by living up to the claims made in its advertising.
In the Character Approach, the judgment concered addresses both the morality and the consequences of an act.
The Control Environment is the culture or tone of a company.
In the doctrine respondent inferior, a principal is held responsible for the actions of its agent when said agent is acting in the regular course of his duties to the principal.
Which statement is an argument against corporate social responsibility?
Which of the following is NOT true about norms?
A company increases the possibility of high risk behavior when it is not fully supporting people.
The literal translation of cave emptor means Let The Buyer Beware.
Tostudy an issue using utilitarian approach, first, ask who will be affected by each action and what gains and harms will be assumed from each.
Which of the following does NOT contribute to the development of the standard of ethics of a manager?
Corporate culture refers in general to the rules, procedures, or laws whereby businesses are regulated, operated, and controlled.
Negligence can be distinguished as a failure to practice reasonable care or ordinary caution that causes another to be harmed.
The _____ espouses that moral behavior generates the greatest good for the vast majority.
Which of the following is true about Ethical marketing?
_____ is an internal system of principles which guide your behavior with intrinsic benefits.
Some traditions are relatively ethical, but others become corrupt or oblivious to certain ethical manners.
Companies have a corporate social responsibility is about caring for the workers, giving back to the community, and being financially encironmentally, and socially responsible.
_____ is one that rules should be clearly stated and consistently and impartially enforced.
For business owners, it is vital to speak and act in a trustworthy manner.
If something is seriously wrong, the law will prohibit it. Consequently, it is enough to rely on the law for deciding what is right or wrong.
The _____ approach maintains that moral decisions must be based on standards of equity, fairness, and impartiality.
An _____ is a legal connection that is formed between an employee and employer when work is completed for monetary renumeration.
Only the management is obliged to make decisions in the business environment every day.
_____ It mainly poses the question: What effect would everyone doing this action have on the general balance of good over evil?
Due process does not mean that employees get to hold their jobs under any circumstance
Torts is a term that is usually used in the field of law that is known by lay people as liability.
Which of the following stakeholders are interested in CSR?
Utilitarianism was developed by Jeremy Bentham and John Stuart Mill in the 18th century.
Respondent superior is Latin for consumer rights.
Change blindness results from focusing on failures.
Which statement/s are characteristic of virtue ethics?
_____ The legal obligations of a professional to act in the best interest of his clients.
Vital decisions are easy to make with many people. Different personalities interfere with reason and argument.
BEcause people already know right from wrong, the study of business ethics is simply an unprofitable exercise.
Which of the following is NOT true about corporate governance?
Under health and safety law, the principal responsibility for health and safety is down to employers.
In the Sarbanes-Oxley Act, Section 404 refers to the services outside the scope of auditors.
What people do value and what they should value are not necessarily the same.
According to philanthropic model of corporate social responsibility, the social responsibility of business managers is to pursue profit with the law.
Investors do not have to depend on auditors to objectively assess the financial statements of a company.
As long as individuals follow the mores, customers, and rules of their culture or society, they are assured that their actions are ethically correct.
What are ethical theories?
_____ is a general set of guidelines to assist organizations as they evaluate new marketing strategies.
Sarbanes-Oxley Act entails requirements for verification of the statements by officers.
Utilitarianism poses a relatively simple mode for determining the morally right course of action for any specific situation one may be in.
Freud and Fraedrich illustrate two kinds of ethics programs, compliance and values-based.
Companies that practice social reponsibility marketing strategies
Maintaining social responsibility within an organization ensures the integrity of society and the environment are protected.
The essence of business ethics extends beyond employee loyalty and morale or the strength of a leadership bond.
The words and deeds of someone will be in agreement with the ethical standards of the company when a person has a low degreee of integrity.
It is the shortsightedness of values.
Bentham and Fraedrich illustrate two kinds of ethics programs, compliance and values-based.
This provision in the Sarbanes-Oxley Act prohibits various forms of professional services that are determined to be consulting rather than auditing.
Managers are accountable for the ethical conduct of those who report to them by making sure employees are aware of the code of ethics of the organization and have the opportunity to va;idate and clarify their understanding.
Managers are not accountable for the ethical conduct of their subordinates. This is made possible by making sure employees are aware of the code of ethics of the organization and have the opportunity to validate and clarify their misunderstanding.
Which of the following is an example of a fiduciary relationship?
Because the language of ethics is so different from talk about operational fields of finance, marketing, accounting, management, law, and human resources, ethical concepts and categories are not relevant to these fields.
_____ is a reason that is enough to fire an employment contract immediately and for which, no notice or severance pay is due to the employee.
The social responsibilities of a management include all of the following except
Which of the following is NOT true about the 2002 Sarbanes-Oxley Act (SOX)?
Making sensible ethical choices does not require an understanding of ethical issues.
Sustainable development involves conducting business in a way that protects the environment while making economic progress.
An _____ is a legal connection that is formed between an employee and employer when work is completed for monetary remuneration.
The utilitarian ethical tradition would take the agreement of the two participants as proof that both are better off than they were before the exchange and accordingly conclude that general happiness has been raised by any exchange openly entered into.
Which of the following statements is TRUE?
It suggests that linked relationships of society are the foundation of ethical reasoning and that reverence and concern for all others are conditions of such grounds.
The Sarbanes-Oxley act of 2006 decreed strict changes to improve financial disclosures from companies and impede accounting fraud.
An employee is terminated for just cause where he has been found to have been dishonest with the employer, such as theft of corporate property or in the participation of a competitor business.
Strict product liability is a legal rule that says a seller of a defective product is liable to a person injured by that product regardless of whether the seller did everything possible to make sure the defect never happened.
Business ethics is an instrument organizations use to guarantee managers, directors, or executive officers act responsibly in different business situations.
It espouses that moral behavior generates the greatest good for the vast majority.
Social responsibility is an ethical ideology, in which individuals are responsible for executing their fiduciary duty.
What type of companies do individuals tend to want to work for?
If an employee has different religious belief and practices from his employer, he can be rightly fired from his job.
One major disadvantage of affirmative action in the workplace is the reality or perception of reverse discrimination.
Building an ethical business environment happens in a day.
What is the definition of ethics?
_____ refers in general to the rules, procedures, or laws whereby businesses are regulated, operated, and controlled.
Which of the following is NOT true about corporate culture?
The character approach analyzes a person's or group's intentions, inclinations, and motives and then creates a moral judgment of the person's or group's character.
Working for an organization does not require following an ethical framework when making decisions.
COSO stands for The Committee of _____ Organizations of the Treadway Commission.
_____ is a reason that is enough to fire an employment contract immediately and for which no notice or severance pay is due to the employee.
An induction program is not really necessary; employers can let each employee know what to expect when they need to know.
Corporate culture is a set of characteristics that identifies a business. It involves employee attitudes, standards, and ways of doing things.
CSR stands for
Ethical decision-making seeks to benefit the company as a whole, instead of allowin just one individual gain from business decisions.
The issues of due process and just cause are not connected to business owners disciplinary actions because the employets must have disciplinary procedures that make sure that their employees are disciplined for just reasons and only after the correct procedures have been followed.
Ethics is the ideology about right and wrong in the workplace distinguished by social notions of the moral actions of people.
A _____ is a common normative standard of conduct, holding that a specific decision or action is good or true or right for all every time and everywhere.
_____ A principal factor of tort law, it concerns a kind of ethical neglect, particularly neglecting duty to practice reasonable care not to harm others.
The principle approach is the most familiar since most ethics education is based on principles.
When the current management principles is not based on ethical practices and behavior, leaders within an organization can instruct employees by example and guide them in making decisions.
Normative myopia
_____ alludes to the range of differences between people in a company.
Operating a business in an entirely ethical way builds a stronger bond between individuals in leadership positions that further creates stability within the company.
Employees who do not work for an organization that requires a high standard of business ethics in all aspects of operations tend to complete their job duties at a higher level and stay loyal to that organization.
A person who always makes use of the Character Approach will likely be considered dogmatic and hard to get along with.
Social responsibility is an ethical ideology, in which individuals are responsible for executing their civic duty; the actions of a person must benefit the whole of society.
_____ is a term that is usually used in the field of law that is known by lay people as negligence.
Establishing a safe work environment is crucial to the success of a business and is one of the best ways to retain employees and maximize productivity.
In general, corporate governance refers to the rules, procedures or laws whereby businesses are regulated, oprated, and controlled.
It occurs when decision-makers fail to see gradual changes over time.
The philanthropic model in which business support for a social cause is done simply because it is the right thing to do differs from the reputational version only in terms of the underlying motivation.
Most, if not all, businesses give importance to business ethics and usually include in it in the core values of the company.
Beauty, empathy, courage, generosity, patience, love, loyalty, integrity, justice, self-control, and prudence are all examples of virtues. Terminal values refer to preferable modes of behavior.
Even without marketing, a business may offer the best products or services in an industry.
Acting in an ethical way does not concern distinguishing between right and wrong and then making the right decision.
Which concerns does CSR address?
Acting and reflecting on the outcome is the last step to ethical decision-making.
Should a gas station owner be allowed to charge Pgp10 more per liter, if this store is the only store with gas?
Which of the following is TRUE about ethics?
Inattentional blindness
Rule utilitarianism emphasizes the specific situations and the many individual features of the circumstances that offer moral problems, and it presents a simple method for addressing these individual cases.
Integrity is an obligation, not a choice.
The Character approach analyzes the intentions, inclinations, and motives of a person or group, and then creates a moral judgment of the character of said person or group.
Moral dilemmas emerge when individuals or groups need to pick between contending values.
To _____ someone is to treat them as a means to an end; as a tool to be used instead of as an autonomous individual in his right.
_____ It is discrimination against members of a dominant or majority group in favor of members of a minority or historically disadvantaged group.
The following account for the vast majority of poor decisions
The Virtue Approach is ethical actions consistent with beliefs and habits that enable us to act according to the best of our character and on behalf of values like honesty and truth.
Reducing the number of employees on the operating payroll is called _____.
What is social responsibility?
The Rights Approach is an old approach to ethics is that ethical actions should be consistent with certain virtues that provide for the full development of humankind.
In the consequence approach, those who make decisions weigh several probable results and arrive at the decision likely to produce the best result.
Producers owe only those things promised to consumers in the sales agreement.
Which of the following is an element that makes ethical behavior conducive within an organization?
The reputation of a business from other businesses, the community, and investors is important in determining whether a company is a beneficial investment.
Acting with honor is a vital characteristic of a business owner.
The _____ approach ocuses on the ideal characteristics required for promoting employees for the company.
Based on the COSO framework, monitoring control activities are policies and procedures that support the control environment.
The _____ to ethics believes that ethical actions should be consistent with certain virtues that provide for the full development of humankind.
The idea of social responsibility is based on a system of ethics, in which decisions and actions must be ethically analyzed before moving forward.
______ provide relevant insight for our ethical choices.
Being able to work in a team with different people from all ages and backgrounds is part of the expectations of the employer to their workers.
Business Code of Ethics defines acceptable behavior and promote high standards of practice.
Decisions taken within an organization may be made by individuals or groups, but whoever makes the decisions will be affected by the culture of the company.
Proponents of corporate social responsibility highlight three advantages, which they refer to as a triple bottom line. Which of the following is NOT one of these three advantages?
Organizations operating internationally have become exposed to a greater level of operational risk.
Laws can never be morally wrong or unethical.
Sustainable or _____ marketing is based on concepts of environmental and social sustainability, and attempts to meet the needs of the current generation without destroying the future.
It results from focusing on failures.
The character approach is the most familiar since most ethics education is based on character.
Liability can be defined as a failure to practice reasonable care or ordinary caution that causes another to be harmed.
_____ It is a set of characteristics that identifies a business.
When an organization shows concern for the people and environment in which it transacts business it is called ______
Which of the following is NOT true about ethical marketing?
Ethically, tort law maintains that people owe others certain general duties only if it has been clearly and voluntarily stated.
There is a vital relationship between integrity and ethics.
Caveat emptor is a phrase that is simply an effort to illustrate the broader concept of freedom of contract as it applies to the seller-buyer relationship.
Business ethics are moral guidelines for the conduct of business established on notions of what is right, wrong, and fair.
This approach suggests that linked relationships of society are the foundation of ethical reasoning and that reverence and concern for all others are conditions of such grounds.
Intelligent and good-hearted people all share the same values and hold similar opinions about which values should abound.
_____ has been defined as showing a preference for selecting and/or promoting members of a demographic or minority group with a history of discrimination.
Which of the following is NOT a way that companies can demonstrate social responsibility?
The virtue framework addresses the elements of individual characters and disposition which deepen one's humanity and engender one's relationships with other.
Manipulation would be objected strongly by the principle-based tradition in ethics.
An individual who uses the Principle approach believes that an action or decision is right or wrong regardless of the consequences.
_____ Are professions that enforce rules and attest to the fundamental fairness of the system. Examples of these are accountants, financial analysts, attorneys, and auditors.
_____ It is the applied ethics discipline that focuses on the moral aspects concerning business activity.
Personal integrity is the base for ethics.
_____ is a concept that individuals should be compensated for the damages of their injuries by the liable party and that individuals should not be held responsible for matters over which they have no control.
Unethical behavior is always against the law.
In business, caveat emptor means to allow the potential buyer who is considering the procurement of an item to check the item, and then allow him to decide the terms on which he is agreeable to buy or decline the item.
CSR is a _________ initiative
Fiduciary duties are the legal obligations of a professional to act in the best interest of his clients.
The Four Ps of marketing are product, purpose, price, and profit.
There are circumstances in which buyers can be harmed by a product even when no negligence was involved.
The legal obligations of a professional to act in the best interest of his clients is called _____.
_____ is the unjust treatment of employees based on prejudices.
The literal translation of _____ is let the buyer beware.
There will be no parameters limiting what a person will or will not do if virtues did not exist.
_____ It is a Greek word that literally means love of the fellow human.
There are five types of ethical standards: utilitarian, rights, fairness or justice, common good, and virtue.
Shoring preference for selecting and/or promoting members of a demographic or minority group with a history of discrimination is called
The challenge of resolving moral approaches is intensifies by the problem that people have similar approaches to moral decision-making.
Culture protrays the ethical and moral beliefs and standards that articulate how people should behave and interact with one another.
A _____ is a situation in which personal and/or financial considerations have the potential to influence or compromise professional judgment.
_____ or undercover marketing refers to circumstances where people are subject to directed commercial activity and are unaware of it.
In this perspective, the principle of utility (do whatever will produce the best overall results) should be applied on a case by case basis.
The theory of virtue ethics focuses on a full and detailed description of those character traits that would constitute a good and human life. Egoism is simply not a factor in the ethical decision-making of caring, empathetic, charitable, and sympathetic persons.
_____ It has been defined as showing a preference for selecting and/or promoting members of a demographic or minority group with a history of discrimination.
It maintains that moral decisions must be based on standards of equity, fairness and impartiality.
Which of the following would most likely cause unethical behavior?
When a company sponsors a charity event that is aligned with their core mission and vision, that company is practicing which of the following concepts?
_____ This means that the government cannot take away the life, liberty, or property interest of a person.
Making good ethical decisions demands a trained sensitivity to ethical issues and a practicesd manner for surveying the ethical aspects of a decision and weighing the considerations that should impact the choice of a course action.
It generally asks the question: What effect will this act have in this situation on the general balance of good over evil?
It follows that if people neglect their duties, then other people’s rights may be neglected.
Which of the following is true about negligence?
_____ are business professionals that enforce rule and attests to the fundamental fairness of the system.
The major reason to study ethics is that whether or not we examine the questions What should I do? or What type of person should I be? or How shall we live in community? we answer them in the course of living our everyday lives.
The theory of social responsibility and ethics only applies in a group context.
Change blindness
The values-based system of ethics employs legal terms, rules of conduct, training, and penalties for non-compliance.
Which of the following statements is decisive in determining whether or not to study business ethics?
_____ refers to reducing the size of a company by eliminating workers and/or divisions within the company.
Which proposition correctly describes the concept of a right?
Employers do not have a responsibility to their employees to protect them from discrimination and unfair treatment in the workplace.
Which statement/s are legitimate challenges to utilitarian ethical theory?
A document prepared to guide organization members when encountering ethical dilemmas is a(n)
Rule utilitarianism mainly poses the question "What effect would everyone's doing this action have on the general balance of good over evil?"
The Rule of 7 states that for every individual you minus to a group beyond seven, decision effectiveness declines by 10 percent.
There is still a high risk of unethical behavior even when companies have great rules and procedures and obey the laws and regulatiions.
In the virtue framework, one tries to identify the negative character traits that might motivate people in a given situation.
For some employees, the loss of a ob due to downsizing can be a positive step that allows them to reinvent themselvs.
Sustainable or green marketing is based on concepts of environmental and social sustainability, and attempts to meet the needs of the current generation without destroying the future.
Ethical character traits include integrity, honesty, and ustice.
Some traditions are relatively ethical, but others become corrupt or oblivious to certain ethical matters.
An old approach to ethics is that ethical actions should not be consistent with certain virtues that provide for the full development of humankind.
The heart of a business success does not depend on its marketing.
Ethics does not only mean pursuing traditionally accepted norms.
One of the benefits of having a diverse workforce is it can provide a greater variety of solutions to problems in service, sourcing, and allocation of resources.
Practical reason tries to gauge the way things are while theoretical reason determines how the world should be and what individuals should do.
Laws can be morally wrong or unethical.
People using the principle approach often ask such questions as "What's the bottom line?" "What effect will this have?" "What good will this bring about?" and "Will this help in the long run?"
_____ means that the government cannot take away the life, liberty, or property interest of a person without giving them notice and a fair hearing.
_____ It is a principle that seeks to do the most good and restrict the amount of harm for each individual.
A corporate director who bought that company stock when he knew it was about to jump up in price committed fraud by buying it while not disclosing his inside information.
_____ It regards the moral judgments about right and wrong.
Because utilitarianism focuses on consequences, producing the greatest happiness for the greatest number, as the sole criterion for determining ethical right and wrong, no action is ever right or wrong in itself, in all cases, in every situation-even, perhaps, murder, rape, theft, deceit, and lying.
Character is a common normative standard of conduct, holding that a specific decision or action is good or true or right for all every time and everywhere.
It emphasizes that human beings have basic rights and liberties that cannot be taken away by decision.
Getting the facts is the first step to ethical decision-making.
Accept terms and conditions are usually done as a part of joining procedure.
Emphasis that human being have basic rights and liberties that cannot be taken away by the decision of someone is the
Work ethics are
According to this viewpoint, people should judge the morality of individual actions by reference to general moral rules, and people should judge particular rules by determining whether their acceptance into the moral code would produce more well-being than other possible rules.
Effective leaders design strategies to achieve desired outcomes, because they are in the business of making a profit.
Ethical predicaments in the workplace are common, and they are always easy to resolve.
_____ is about the protection of workers against vacillations in earned income as a result of job loss.
_____ It is a method by which a product or service is presented and promoted to possible customers.
_____ alludes to the range of similarities and differences between people in a company.
Sustainable or green marketing refers to circumstances where people are subject to directed commercial activity and are unaware of it.
Making sensible ethical choices does not require an understanding of ethical issues and a prepared method for discovering the ethical sides of a decision and evaluating the alternatives that should impact our choice of action.
In the Sarbanes-Oxley Act, Section 406 refers to codes of ethics for senior financial officers.
Identify the statement that is consistent with utilitarian ethical theory.
An employee has the right to time off to take care of his sick wife, but does not have the right to take time off to care for his terminally ill neighbor.
If law will hold business liable for implicit promises, a weak business will try to limit its liability by clearly disowning any promise or warranty.
Practical reason is concerned with matters of fact and their explanation of value while theoretical reason is concerned with matters of value abd their explanation.
______ espouses that moral behavior generates the greatest good for the vast majority.
The more difficult the ethical choice we have to make, the more we need to avoid difficult people and situations.
_____ is a strong predictor of human trafficking and may come in the form of bribery and usury fees paid by workers to recruitment agents.
Which of the following reasons accounts for the dominance of utilitarianism among policy makers and administrators?
This provision in the Sarbanes-Oxley Act requires that management file and internal control report with its annual report each year in order to delineate how management has established and maintained effective internal controls over financial reporting.
Employees make better decisions efficiently without a governing standard.
It is a crucial component of compliance-based ethics.
Unlike rule utilitarians who try to maximize overall utility by applying the utilitarian principle to individual acts, act utilitarians maintain that one can maximize utility only by setting up a moral code that consist of rules.
A strong allure of the _____ is its cost-benefit aspect.
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