BUSINESS ETHICS

1. What does business ethics refer to?

• Profit-making strategies

• Moral principles and standards that guide behavior in business

• Laws and regulations for businesses

• The methods of increasing sales

2. Managers have a duty to:

• Prioritize profits over all other factors

• Make decisions that only benefit the company

• Act in ways that benefit society while balancing profits and responsibilities

• Avoid all legal regulations

3. How has business ethics evolved?

• It has stayed the same over time.

• It has become more focused on marketing.

• It has changed due to societal, legal, and public expectations.

• It is no longer important in decision-making.

4. What is a primary benefit of studying business ethics?

• To increase profits quickly

• To make responsible decisions and avoid legal problems

• To reduce the need for legal regulations

• To create more competition in the market

5. Which of the following is NOT an example of an ethical issue in business?

• Bribery

• Fraud

• Fair competition

• Unfair competition

6. How should business projects align with ethical standards?

• They should focus solely on profit-making

• They should contribute to societal well-being and fairness

• They should avoid any legal requirements

• They should be kept confidential from the public

7. Ethical research in business must be:

• Manipulative and strategic

• Transparent, accurate, and respectful of participants

• Based on cultural preferences

• Focused on maximizing profit

8. Which of the following is a key ethical theory in business?

• Utilitarianism (greatest good for most people)

• Strategic marketing theory

• Profit maximization

• Budgetary ethics

9. How does social responsibility relate to managers?

• Managers should only focus on maximizing profits.

• Managers must act in ways that benefit society, not just the company.

• Managers can ignore laws if they believe it benefits the company.

• Managers are only responsible for their own behavior.

10. What is a way that businesses can demonstrate social responsibility?

• Focus only on profits

• Donate to charities and support communities

• Ignore environmental concerns

• Avoid paying fair wages