Business Ethics 3 hour

What does the term 'ethics' refer to?

• A branch of philosophy dealing with art

• A scientific study of human behavior

• Accepted principles of right or wrong governing conduct

• A set of rules for operating machines

What is an ethical strategy in business?

• A plan that ensures maximum profit

• A strategy that involves competitive advantage

• A course of action that does not violate accepted principles of right or wrong

• A method to increase employee satisfaction

Why do ethical issues arise in international business?

• Because of the global economic downturn

• Due to differences in political systems, law, economic development, and culture

• Due to the lack of international laws

• Because international businesses aim to maximize profits

What makes ethical decision making difficult?

• Complexity of real-world decisions and their consequences

• Lack of proper business education

• Absence of ethical guidelines in businesses

• Influence of technology on business operations

What should managers in a multinational firm be particularly sensitive to?

• Advancements in technology

• Changes in the global stock market

• Differences in political systems, laws, economic development, and culture

• Trends in social media

In the long run, ethical integrity will keep customers coming back to a business.

• True
• False

How can businesses ensure their operations are ethically sound?

• By strictly following legal regulations only

• Implementing comprehensive ethical training programs

• Ignoring ethical considerations for higher profits

• Limiting their operations to domestic markets

What role do stakeholders play in promoting business ethics?

• They have no influence on business ethics

• They can boycott unethical businesses

• They can provide ethical guidelines and expectations

• Both B and C are correct

Why is it important for a business to have a code of ethics?

• To ensure compliance with legal standards

• To guide decision-making and establish a culture of integrity

• To solely enhance the company's public image

• To prevent employees from leaving the company

How does corporate social responsibility (CSR) impact a company's reputation?

• Positively, by demonstrating commitment to ethical practices

• Negatively, by increasing operational costs

• It has no impact on a company's reputation

• Positively, by reducing the need for customer service