Review on Introduction to Business Ethics Quiz

What is the difference between morality and ethics?

• Morality deals with personal feelings of right and wrong, while ethics involve societal standards

• Morality is subjective, while ethics are objective

• Morality is only applicable to individuals, while ethics apply to businesses

• Morality is derived from Greek words, while ethics are derived from Latin words

Describe the relationship between business ethics and law.

• Business ethics are not influenced by legal regulations

• Business ethics and law are the same concepts

• Business ethics are more important than following the law

• Business ethics guide behavior beyond legal requirements

Differentiate between how small businesses and large businesses approach business ethics.

• Large businesses have more resources to focus on ethics

• Small businesses prioritize ethics more than large businesses

• Large businesses face more scrutiny regarding ethics

• Small businesses are exempt from ethical considerations

What is globalization and why is it important for understanding business ethics? Give examples on implications of globalisation in business ethics in multinational corporations in a local context.

• Globalization involves standardizing business practices worldwide

• Globalization enhances cultural diversity and ethical understanding

• Globalization is not relevant to business ethics

• Globalization is the process of isolating businesses from international markets

What is sustainability? To what extent do you think it is possible for corporations in the following industries to be sustainable? Explain your answers

• Sustainability involves meeting current needs without compromising future generations, and it is possible for all industries to be sustainable

• Sustainability is irrelevant for businesses, and no industry can achieve it

• Sustainability only applies to environmental concerns, and some industries can never be sustainable

• Sustainability is about maximizing profits without considering social or environmental impacts

Why is Ethics important for business?

• Ethics are irrelevant in the business world

• Ethics build trust between businesses and consumers

• Ethics hinder business growth and innovation

• Ethics ensure businesses can break the law for competitive advantage

What is business ethics?

• Business ethics focus solely on legal compliance

• Business ethics are not concerned with moral issues

• Business ethics examine ethical principles and moral problems in business

• Business ethics are only applicable to large corporations

Ethics are related to personal feelings of right and wrong. Which statement justifies this?

• Religious beliefs can influence ethics

• Being ethical requires following the law

• Ethics are unrelated to personal feelings

• Ethics require conforming with societal standards

What is the theory and practice of the responsibility, ethics, and legitimacy of corporations in a globalized society?

• Business ethics are only relevant to small businesses

• Business ethics involve the responsibility of corporations in a globalized society

• Business ethics do not consider global impacts

• Business ethics are limited to local operations

What is the study of business situations, activities, and decisions where issues of right and wrong are addressed?

• Business ethics involve addressing issues of right and wrong in business

• Business ethics are only applicable to non-profit organizations

• Business ethics focus on maximizing profits at any cost

• Business ethics are not concerned with moral dilemmas