Chapter 2 Progress
Chapter 2 Progress Questions:
1. Explain the term business ethics. The application of ethical standards to business behavior.
2. Explain the difference between a descriptive and prescriptive approach to business ethics. The descriptive you are merely observing what is going on; where as with prescriptive, you are giving advice on what should be happening.
3. Identify six stakeholders of an organization. Stockholders, Employees, Customers, Suppliers, Retailers, Federal Government
4. Give four examples of how stakeholders could be negatively impacted by unethical corporate behavior. Loss of stock value, Loss of employment, Loss of tax revenue, Economic Decline
5. Define the term oxymoron and provide three examples. The combination of two contradictory terms – “deafening silence”, “jumbo shrimp”, “authentic reproduction”
6. Is the term business ethics an oxymoron? No, in many businesses their ethics show to be very inviting and what makes them such a great chain.
7. Define the term corporate governance. Corporate governance is the system in which business corporations are directed and controlled.
8. Explain the term code of ethics. The code of ethics is set in place so that managers and employees have a written set of standards that they are expected to be held to and help them in making ethical decisions if needed in the workplace.
9. Identify a major ethical dilemma in each of the last five decades. 1960’s- Environmental issues 1970’s- Employee militancy 1980’s- Bribes and illegal contracting practices 1990’s- Unsafe work practices in third world countries 2000’s- Cyber crime
10. Identify a key development in business ethics in each of the last five decades. 1960’s- Companies begin establishing codes 1970’s- Ethics Resource Center established 1980’s- ERC develops the U.S. Code of Ethics for Government Services 1990’s- Federal sentencing guidelines 2000’s- Anticorruption efforts grow
11. Which decade saw the most development in
1. Explain the term business ethics. The application of ethical standards to business behavior.
2. Explain the difference between a descriptive and prescriptive approach to business ethics. The descriptive you are merely observing what is going on; where as with prescriptive, you are giving advice on what should be happening.
3. Identify six stakeholders of an organization. Stockholders, Employees, Customers, Suppliers, Retailers, Federal Government
4. Give four examples of how stakeholders could be negatively impacted by unethical corporate behavior. Loss of stock value, Loss of employment, Loss of tax revenue, Economic Decline
5. Define the term oxymoron and provide three examples. The combination of two contradictory terms – “deafening silence”, “jumbo shrimp”, “authentic reproduction”
6. Is the term business ethics an oxymoron? No, in many businesses their ethics show to be very inviting and what makes them such a great chain.
7. Define the term corporate governance. Corporate governance is the system in which business corporations are directed and controlled.
8. Explain the term code of ethics. The code of ethics is set in place so that managers and employees have a written set of standards that they are expected to be held to and help them in making ethical decisions if needed in the workplace.
9. Identify a major ethical dilemma in each of the last five decades. 1960’s- Environmental issues 1970’s- Employee militancy 1980’s- Bribes and illegal contracting practices 1990’s- Unsafe work practices in third world countries 2000’s- Cyber crime
10. Identify a key development in business ethics in each of the last five decades. 1960’s- Companies begin establishing codes 1970’s- Ethics Resource Center established 1980’s- ERC develops the U.S. Code of Ethics for Government Services 1990’s- Federal sentencing guidelines 2000’s- Anticorruption efforts grow
11. Which decade saw the most development in