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Exam 2: Business Ethics

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Question 21

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The ethical system in which the development of virtues, or positive character traits such as courage, justice, and truthfulness, is the basis for morality is called ______.

A) Absolutism decision
B) Virtual analysis
C) Virtue ethics
D) Fundamentalist approach
E) Categorical imperative

F) A) and B)
G) A) and E)

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Question 22

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Milly's best friend and roommate, Sarah, is getting ready for a big date. Sarah had her hair and nails done, bought a new dress, and spent two hours getting ready. Just as Milly sees Sarah's date coming down the street, Sarah comes out and asks Milly how she looks. Unfortunately, the stylist did a terrible job, the nails are an odd shade of purple, and the new dress is extremely unflattering. Sarah has no time to change. Discuss what Milly would say and why under the following principles: (a). Deontology (b). Act utilitarianism (c). Rule utilitarianism (d). Virtue ethics

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Question 23

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In an ethical analysis using the WPH Framework referenced in the text, owners are the most important stakeholders and should receive the greatest consideration in decision making regardless of the type of problem addressed.

Which of the following consists of acting on the basis of the recognition that certain actions are right or wrong, regardless of their consequences?

"Fast Food Dilemma." Richard, who just started at his new job as an assistant manager at a fast-food restaurant, wants to make a good impression. He thinks that things are going great. On only the second day on the job, however, he sees his boss Jill, the manager, slink out of the restaurant with a big box of hamburger that she puts in her car. Jill then speeds away. Richard is fairly certain that Jill did not pay for the hamburger. Richard asks advice of his best friend, Bruce; his girlfriend, Sally; his sister, Jenny; and his dad, Frank. Bruce says that there are no real objective standards and that Richard should just decide what is best for him. Sally says that Richard should focus on the consequences and focus on the greatest benefit to all involved. She believes that it will do no real harm for Richard to keep his mouth shut because the fast-food restaurant is making plenty of money and probably does not pay Jill enough anyway. Plus, getting in trouble with Jill could cause problems at work, and if Richard loses his job, Richard and Sally might have to put off their marriage. Jenny says that on balance the rule producing the greatest good would be to tell Jill because stealing does not generally produce the greatest satisfaction. Richard's dad says that as a matter of principle Richard should tell Jill because stealing is simply wrong. -Which of the following theories most accurately fits the advice given by Frank?

According to the text, which of the following may be a part of the "how" in the WPH process of decision making?

Which of the following presents a problem when considering the theory of ethics known as absolutism?

Which of the following is asserted by the principle of rights?

"Environmental Concerns." Connie, the president of a company that makes paper, has a new interest in the environment. She recently went to a seminar on environmental dangers and has decided to take steps to clean things up. She started at home and has now felt compelled to change things at work. Connie had to face the fact that her company has been cheating and is not in compliance with applicable environmental regulations due to dumping in a nearby river. Her company has never been cited because it employs a very large number of people in the community, including the mayor's wife and the chief-of-police's brother. On her mission to clean things up, Connie has decided to go even further than the law requires and install the very latest environmental protections. When she announced her plan, the chair of the company's board of directors, Brooke, had a meeting with Connie. Brooke told Connie to analyze the situation carefully because the cost of the additional equipment would mean no dividend to shareholders and no raise for employees. Furthermore, Brooke told Connie that installing all the new equipment would result in higher prices for the company's paper product and could bankrupt the company because of foreign competition. Brooke hinted that Connie could be fired if she persisted. Brooke suggested that Connie just be concerned with a minimal standard of ethics. Connie decides to go forward with her plan to clean things up under the theory that she wants to treat others in the same manner that she wants to be treated. Under Connie's theory, if she did not understand the importance of the environmental improvements, she would want them to be thrust upon her. -Connie's idea is best referred to as ______.

Assume you are hired as the president of a new company. Write a code of ethics for the firm.

A local Chamber of Commerce plans a seminar on "the social responsibility of business in our community." What does that term reference?

Which of the following was the result in regard to the statute of limitations in the Case Opener in which the plaintiff claimed that the drug Accutane caused her to develop ulcerative colitis and irritable bowel syndrome?

Positive abstractions that capture our sense of what is good or desirable are called ______.

Insurer American International Group (AIG) is well known in the insurance industry for its ethical and cautious investments protecting investors.

Consequentialism provides a rigid set of rules to follow regardless of the situation.

What is the name of the law signed by President Bush in the wake of several corporate accounting scandals?

"Accounting Advice." Brad, a newly hired Certified Public Accountant, who barely passed his boards, was asked by a business client, a chief executive officer, about the effect of the Sarbanes-Oxley Act on an accounting issue. Brad assured the client that the client should not be concerned about the Act because it is very vague, unspecific, and difficult to understand. Brad told the CEO that in any event, the CEO could not be held personally responsible regardless of what happened because only company business was involved. Brad also told the CEO that there is no oversight involved with the act. Later that same day, a coworker of Brad discovered that the CEO had been involved in misstating some financial reports and had also destroyed financial documents to cover up fraud. An employee at the company, Laura, had informed the coworker as well as the SEC. When the issue was mentioned to the CEO, he immediately fired Laura. -Which of the following is true regarding the Act and Laura's firing?

In some countries, businesses must pay bribes in order to receive legitimate supplies.

"Fast Food Dilemma." Richard, who just started at his new job as an assistant manager at a fast-food restaurant, wants to make a good impression. He thinks that things are going great. On only the second day on the job, however, he sees his boss Jill, the manager, slink out of the restaurant with a big box of hamburger that she puts in her car. Jill then speeds away. Richard is fairly certain that Jill did not pay for the hamburger. Richard asks advice of his best friend, Bruce; his girlfriend, Sally; his sister, Jenny; and his dad, Frank. Bruce says that there are no real objective standards and that Richard should just decide what is best for him. Sally says that Richard should focus on the consequences and focus on the greatest benefit to all involved. She believes that it will do no real harm for Richard to keep his mouth shut because the fast-food restaurant is making plenty of money and probably does not pay Jill enough anyway. Plus, getting in trouble with Jill could cause problems at work, and if Richard loses his job, Richard and Sally might have to put off their marriage. Jenny says that on balance the rule producing the greatest good would be to tell Jill because stealing does not generally produce the greatest satisfaction. Richard's dad says that as a matter of principle Richard should tell Jill because stealing is simply wrong. -Which of the following theories most accurately fits the advice given by Jenny?

What is the system of "guanxi" used in China?