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Chapter 01
Ethics and Business
True/False Questions
1. Ethical decision making in business is limited to major corporate decisions with dramatic social consequences.
Answer: False
Difficulty: Easy
Learning Objective: 01-01
Topic: Introduction: Making the Case for Business Ethics
Bloom’s Taxonomy: Remember
AACSB: Ethics
Page: 4
Feedback: Ethical decision making in business is not at all limited to the type of major corporate decisions with dramatic social consequences. At some point, every worker, and certainly everyone in a management role, will be faced with an issue that will require ethical decision making.
2. In business, every decision can be covered by economic, legal, or company rules and regulations.
Answer: False
Difficulty: Easy
Learning Objective: 01-01
Topic: Introduction: Making the Case for Business Ethics
Bloom’s Taxonomy: Remember
AACSB: Ethics
Page: 4
Feedback: At some point, every worker, and certainly everyone in a managerial role, will be faced with an issue that will require ethical decision making. Not every decision can be covered by economic, legal, or company rules and regulations.
3. The direct costs of unethical business practice are more visible today than they have ever been before.
Answer: True
Difficulty: Easy
Learning Objective: 01-01
Topic: Introduction: Making the Case for Business Ethics
Bloom’s Taxonomy: Remember
AACSB: Ethics
Page: 5
Feedback: The direct costs of unethical business practice are more visible today than perhaps they have ever been before. The first decade of the new millennium has been riddled with highly publicized corporate scandals, the effects of which did not escape people of any social or income class.
4. In a general sense, a business stakeholder is one who has made substantial financial investments in the business.
Answer: False
Difficulty: Medium
Learning Objective: 01-01
Topic: Introduction: Making the Case for Business Ethics
Bloom’s Taxonomy:
Ethics and Business
True/False Questions
1. Ethical decision making in business is limited to major corporate decisions with dramatic social consequences.
Answer: False
Difficulty: Easy
Learning Objective: 01-01
Topic: Introduction: Making the Case for Business Ethics
Bloom’s Taxonomy: Remember
AACSB: Ethics
Page: 4
Feedback: Ethical decision making in business is not at all limited to the type of major corporate decisions with dramatic social consequences. At some point, every worker, and certainly everyone in a management role, will be faced with an issue that will require ethical decision making.
2. In business, every decision can be covered by economic, legal, or company rules and regulations.
Answer: False
Difficulty: Easy
Learning Objective: 01-01
Topic: Introduction: Making the Case for Business Ethics
Bloom’s Taxonomy: Remember
AACSB: Ethics
Page: 4
Feedback: At some point, every worker, and certainly everyone in a managerial role, will be faced with an issue that will require ethical decision making. Not every decision can be covered by economic, legal, or company rules and regulations.
3. The direct costs of unethical business practice are more visible today than they have ever been before.
Answer: True
Difficulty: Easy
Learning Objective: 01-01
Topic: Introduction: Making the Case for Business Ethics
Bloom’s Taxonomy: Remember
AACSB: Ethics
Page: 5
Feedback: The direct costs of unethical business practice are more visible today than perhaps they have ever been before. The first decade of the new millennium has been riddled with highly publicized corporate scandals, the effects of which did not escape people of any social or income class.
4. In a general sense, a business stakeholder is one who has made substantial financial investments in the business.
Answer: False
Difficulty: Medium
Learning Objective: 01-01
Topic: Introduction: Making the Case for Business Ethics
Bloom’s Taxonomy: