Deck 1: Ethics and Business

Question 1

The "Loyal Agent Argument" states: An employer would want to be served in whatever ways will advance his or her self-interests. Therefore, as a loyal agent of his or her employer, the manager has a duty to serve his or her employer in whatever ways will advance the employer's self-interests.

Answer 1

True

Question 2

Dr. P. Roy Vagelos, Merck's head of research and development, decided to fund the money required to develop Ivermectin to cure river blindness because of its large profit potential.

Answer 2

False

Question 3

Ethics is the discipline that examines one's moral standards, or the moral standards of a society.

Answer 3

True

Question 4

Which chocolate candy maker(s) use morally tainted cocoa beans?

A) Hershey's Milk Chocolate,
B) M & M Mars, Inc.
C)Nestle´ USA
D) All of the above

Question 5

Moral standards can be distinguished from non-moral standards using the following characteristics:

A) They deal with matters that can seriously injure or benefit humans.
B) Are not established or changed by authoritative bodies.
C) They are based on impartial considerations.
D) A & C
E) All the above

Question 6

Richard Scrushy, former CEO of HealthSouth, was convicted of ?

A) Defrauding Medicare & falsifying reports
B) Stealing company property
C) Bribery, conspiracy and mail fraud
D) Bigamy

Question 7

Microsocial norms take priority over hypernorms.

Question 8

Ethical relativism is the theory that, because different societies have different ethical beliefs, there is no rational way of determining whether an action is morally right or wrong other than by asking the people of that society what they believe.

Question 9

Though business ethics covers a variety of topics, three basic types of issues are:

A) Systematic, corporate and public
B) Systematic, corporate and individual
C) Individual, group and social
D) None of the above

Question 10

According to the dictionary, the term ethics has a variety of different meanings. One of its meanings is: The principles of conduct governing an individual or a group.

Question 11

Lawrence Kohlberg identified twelve stages of moral development.

Question 12

To evaluate the adequacy of moral reasoning, ethicists employ the following criteria:

A) Moral reasoning must be logical.
B) Factual evidence must be accurate, relevant, and complete.
C) Moral standards must be consistent.
D) A & B
E) A, B & C

Question 13

According to Edward Freeman and David Reed corporate managers are obligated only to the shareholders, and no one else, because they own the corporation.

Question 14

Producing what the buying public wants may not be the same as producing what the entirety of society needs. The argument is essentially making a normative judgment on the basis of some assumed but unproved moral standards.

Question 15

The Ivory Coast farmers kidnapped young boys to provide a safe place for them to live?