Corporate Ethics and Decision-Making

The video tutorial discusses ethics and social responsibility, highlighting recent corporate violations like Enron and WorldCom. It explains that ethics can be a gray area influenced by cultural differences and provides frameworks for ethical decision-making, such as the Rotary Club's four-way test. The Enron case study illustrates how corporate culture impacts ethics. The importance of leadership and ethics codes in promoting ethical behavior is emphasized, with a mention of Martha Stewart's insider trading case as an example of unethical and illegal actions.

Which of the following is NOT an example of a recent corporate ethics violation?

• Enron

• WorldCom

• Google

• Bernie Madoff

What is often considered a gray area in ethics?

• Legal compliance

• Financial regulations

• Corporate profits

• Moral standards

Which of the following values is generally considered right across most cultures?

• Cheating

• Cruelty

• Cowardice

• Honesty

Which question is NOT part of the Rotary Club's four-way test?

• Is it the truth?

• Is it profitable?

• Will it build goodwill?

• Is it fair to all concerned?

What is the main focus of the Rotary Club's four-way test?

• Market competition

• Ethical decision-making

• Employee productivity

• Financial success

What does the Enron scandal primarily illustrate about corporate culture?

• It is solely the responsibility of employees.

• It determines the ethical practices of a company.

• It is irrelevant to business success.

• It has no impact on ethics.

What is a key factor in ensuring ethical behavior in a company?

• Strict dress codes

• Ethical leadership

• Flexible working hours

• High salaries

What is the purpose of having written codes of ethics in companies?

• To improve employee satisfaction

• To comply with legal requirements

• To ensure consistent ethical behavior

• To increase profits

Which of the following is considered both unethical and illegal?

• Cruelty

• Insider trading

• Cheating

• Cowardice

What was Martha Stewart convicted for?

• Money laundering

• Fraud

• Insider trading

• Tax evasion