Exam 1: An Overview of Ethics

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

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

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.

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

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

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

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.

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

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

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

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

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.

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

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.

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

Companies that develop and maintain strong employee relations:

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.

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.

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.