Entrepreneurship I - Business Ethics

Front

You decide not to take a certain action because you know it’s the wrong thing to do. You have made this decision based on your

Back

ethics.

Front

A business’s ethics determine whether or not an action is acceptable for that business, especially if the action has a negative impact on others.

Back

has a negative impact on others.

Front

Which of the following is a true statement about business ethics and the law:

Back

The two are not the same thing, but they do overlap.

Front

One difference between business ethics and the law is that business ethics

Back

are often unwritten.

Front

Understanding business ethics can be difficult since

Back

many people aren’t sure how to behave ethically.

Front

Which of the following is a true statement about breaking the law: It is acceptable in most industries. It is necessary for business success. It will make a company more popular. It may have different consequences than breaching ethics.

Back

It may have different consequences than breaching ethics.

Front

Which of the following is one of the four pillars of a business’s social responsibility: Political responsibility, Economic responsibility, Media responsibility, Universal responsibility

Back

Economic responsibility

Front

A large tech company donates a portion of its proceeds to charity. This is an example of __________ responsibility.

Back

philanthropic

Front

Which of the following is an example of a business’s ethical obligation to its stakeholders:
- Sharing trade secrets within its industry
- Doubling investors’ money within two years
- Providing safe working environments for employees
- Allowing the competition to succeed

Back

Providing safe working environments for employees

Front

Why should a business practice good ethics?

Back

An ethical business contributes toward its own success.