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Week Three Knowledge Check Essay

1856 words - 8 pages

Week 3 Knowledge Check

The material presented below is not meant to be a comprehensive list of all you need to know in the content area. Rather it is a starting point for building your knowledge and skills. Additional study materials are recommended in each area below to help you master the material.
Personalized Study Guide Results: Score: 17 / 18
Concepts Mastery Questions
Stakeholder Influence
67%
123
Ethical Differences
100%
456
Rules of Ethical Decision Making
100%
789
Laws Affecting Business Commerce
100%
101112
Laws Affecting Business Occupation
100%
131415
Laws Affecting Business Organization
100%
161718
Concept: Stakeholder Influence

Mastery
67%
...view middle of the document...

Materials
Stakeholders and Business Ethics
Concept: Ethical Differences

Mastery
100%
Questions
456
Materials on the concept:

Rules for Ethical Decision Making
Business Ethics
Societal Ethics
4.
Which of the following impact ethical practices in business at home and abroad?
A.
Societal ethics, occupational ethics, individual ethics, and organizational ethics
B.
Legal ethics, environmental ethics, individual ethics, and organizational ethics
C.
Societal ethics, occupational ethics, legal ethics, and environmental ethics
D.
Cultural ethics, occupational ethics, legal ethics, and organizational ethics
Correct :
“There are four main determinants of differences in business ethics between companies and countries: societal ethics, occupational ethics, individual ethics, and organizational ethics” (Jones, 2007, p. 153).

Materials
Business Ethics
5.
Which ACT prohibits U.S. companies from paying bribes in order to win contracts abroad?
A.
Investment Company Act
B.
Securities Exchange Act
C.
U.S. Foreign Corrupt Practices Act
D.
Sarbanes-Oxley Act
Correct :
U.S. Foreign Corrupt Practices Act prohibits U.S. companies from paying bribes in order to win contracts abroad.

Materials
Societal Ethics
6.
There are several advantages a company can gain over its competition by behaving in an ethical way. The main advantage is
A.
improved reputation
B.
decreased costs
C.
increased sales
D.
employee loyalty
Correct :
The main advantage a company can gain is a good reputation. The company’s “reputation is the trust, goodwill, and confidence” (Jones, 2007, p. 157) that society has in the company that entices them to want to do business with the company.

Materials
Societal Ethics
Concept: Rules of Ethical Decision Making

Mastery
100%
Questions
789
Materials on the concept:

Rules for Ethical Decision Making
Why Should Managers Behave Ethically?
The Utilitarian Rule
7.
What rules can managers employ as guidelines to analyze the effects of their business decisions on stakeholders?
A.
Utilitarian, social contracts, virtue, and practical rules
B.
Utilitarian, moral rights, justice, and practical rules
C.
Relativism, moral rights, justice, and social contracts rules
D.
Pragmatism, moral rights, justice, and practical rules
Correct :
The four ethical rules or principles that managers can use to help make business decisions and determine the effects these decisions will have on stakeholders are: utilitarian, moral rights, justice, and practical rules.

Materials
Rules for Ethical Decision Making
8.
This is the effect of unethical behavior on business commerce.
A.
Stakeholders internalize the unethical values.
B.
Unethical behavior becomes a social norm.
C.
Less capital and wealth are accrued in the government sector.
D.
Less capital and wealth are created in society.
Correct :
“Unethical behavior and distrust hampers business commerce. Less capital...

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