Business Ethics Exam 2 Review – Flashcards
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"Game"
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Issues related to fairness and honesty may arise because business is sometimes regarded as a _____________.
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Developing ethical issue awareness.
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What is the first step toward understanding business ethics?
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When stakeholders trigger that their is an ethical issue.
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When does the ethical decision-making process begin?
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-Uncompromising adherence to ethical values. -One of the most important elements of virtue.
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Define Integrity.
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The practice of offering something in order to gain an illicit advantage.
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Define Bribery.
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Conflict between your personal views and your organization's views.
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Why do ethical issues in business typically arise?
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-is a problem, situation, or opportunity that requires an individual or group to choose among actions. -Examples: discrimination, misuse of company resources, bribery.
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Define Ethical Issue. Know some examples of ethical issues.
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Any purposeful communication that deceives, manipulates, or conceals face in order to create a false impression.
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Define Fraud.
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When consumers attempt to deceive businesses for personal gain. Ex) Price-tag switching.
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Define Consumer Fraud.
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-Involves a consumer duping a store. -Example: Wearing a dress then returning it.
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Define Duplicity and give an example.
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Involves an employee who helps a consumer commit fraud.
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Define Collusion.
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Trade off between equity and efficiency.
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Define Optimization.
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Misuse of companies resources.
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Which of the following has been identified by the Ethics Resource Center as the leading form of observed misconduct in organization?
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Trust.
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In marketing communications, lying causes predicaments for companies because it destroys __________.
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Involve the legal protection of intellectual properties such as music, books, and movies (& other legally produced goods).
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What are intellectual property rights and what are they concerned with?
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Ages 49 to 69
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The Age Discrimination in Employment Act specifically outlaws hiring practices that discriminate against what group of people?
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Someone looks over their shoulder while he or she types their password.
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Define Shoulder Surfing.
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Tricking an individual to release their passwords and other corporate information.
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Define Social Engineering.
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Defines the rights & duties of individuals and organizations.
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Define Civil Law.
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Prohibits specific actions and imposes punishments for breaking the law.
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Define Criminal Law.
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-Strengthens penalties for corporate fraud -Requires codes of ethics for financial reporting in corporations -Makes fraudulent financial reporting a criminal offense -Requires greater transparency in financial reporting
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List some provisions of the Sarbanes-Oxley Act?
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-Increases the accountability and transparency of financial institutions -Creates a bureau to educate consumers in financial literacy -Create incentives for whistle-blowers to come forward -Increases oversight of the financial industry
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List some provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act?
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Public Company Accounting Oversight Board (PCAOB)
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The Sarbanes-Oxley Act created the __________ to oversee the accounting firms that audit public corporations and to establish rules and standards for auditing.
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conflict of interest.
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By prohibiting accounting firms from providing both auditing and consulting services to the same corporate clients without permission, the Sarbanes-Oxley Act is attempting to eliminate _____________.
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Pure Food and Drug Act of 1906
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Which act was passed in response to public outrage over conditions described in Upton Sinclair's "The Jungle" and was the first consumer protection legislation?
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puffery.
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When a commercial states that a product is superior to any other on the market, the marketer risks accusations of ___________.
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False.
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Bullying increases productivity. True or False?
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-Is associated with a hostile workplace where someone (or a group) considered a target is threatened, harassed, belittled, or verbally abused or overly criticized. -Some side-effects of workplace bullying: Depression, stomach problems, fatigue, increase sick days, and sleep disturbance.
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Define Bullying. Know some side-effects of workplace bullying.
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is an international treaty on climate change committed to reducing emissions of carbon dioxide and five other greenhouse gases and to engaging in emissions trading if they maintain or increase emissions of these gases.
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What is the Kyoto Protocol?
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-Involved with recruiting, hiring, training, & promotions for groups that have been discriminated against on the basis of race, gender, or other characteristics.
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What are Affirmative Action Programs?
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-Refusing to hire an individual -Discharging an individual -Used age, race, and gender for hiring purposes
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What are some reasons that a company could be sued for discrimination?
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A conflict of interest exists when an individual must choose whether to advance his or her own interests, those of the organizations, or those of some other group. For an example, a male manager dates a female employee who reports him.
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(SHORT ANSWER) What is a conflict of interest? Provide an example.
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-Values, norms, artifacts, behavior -Voluntary actions, governance, core practices, legal compliance
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What are the key elements of an organizational culture?
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-Common law -Administrative law -Statutory law -Constitutional law
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What are the four sources of criminal and civil laws?
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...
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What does the institutionalization of ethics involve?
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-Ties an organization's products to a social concern -Can effect consumer buying patterns
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Define Cause-related marketing.
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-Payments made to obtain or retain businesses.
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Describe Facilitation Payments.
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-Price collusion -Discriminating pricing -Sustain pricing -Price wars
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List some Anti-competitive strategies that focus on weakening or destroying a competitor.
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Employees must choose to advance their own individual interest.
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When do conflicts of interest exist?
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-Prohibits discrimination on the basis of race, sex, and origin.
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Describe Title VII of the Civil Rights Act 1964- what does it prohibit?
