Exam 3: Ethics in Business

Questions of what is ethical involve the extent to which a company has

Under the principle of rights theory, the key factor in a decision is how the result may harm the rights of the company to make money.

If a company strictly complies with existing laws, the firm will

Outcome-based ethics determines what is ethical by looking at the potential benefits and harms of a given action.

The first step in making an ethical decision is to understand the problem.

One view of the role of business in society is the perceived duty of a company only to generate revenue for its owners.

Once a company has investigated any foreign suppliers, it is unnecessary to continue to monitor those suppliers.

Under the categorical imperative, an unethical decision that would have only a small impact is acceptable as long as no one else in society acts the same way.

Duty-based ethics is based in the idea that every business has certain duties to others.

A highly successful company is most likely to behave more unethically than a less successful firm if

Because it may be unclear how a court will interpret and apply a law, companies can ensure decisions are viewed as ethical by documenting their own interpretation of the law.

Global businesses need to be conscious of the impact of different religious principles on ethics.

Company codes of conduct outline company policies on particular issues and how employees are expected to act.

Congress does not pass laws based on ethics.

Corporate social responsibility may increase a business's reputation or goodwill.

Build-It Inc. applied an inexpensive but untested technique to brace a transit tunnel wall. The technique was legal but the tunnel collapsed, killing several commuters. Build-It's action was

One of the most important ways to maintain an ethical workplace is for management to set standards and expectations for ethical behavior.

It can be difficult to predict with certainty how a court will apply a given law to a particular action.

Business ethics looks at whether business decisions

Ethical issues that a business manager is not likely to encounter include