Business Ethics Exam Review
Course Introduction
Business Ethics explores the principles and standards that guide behavior in the world of business, addressing the moral challenges and dilemmas professionals may face in modern organizations. The course examines key ethical theories, decision-making models, and frameworks for analyzing corporate responsibility towards stakeholders, society, and the environment. Students will analyze real-world case studies, learning to identify ethical issues, develop ethical reasoning skills, and understand the impact of ethical and unethical business practices on long-term organizational success and public trust.
Recommended Textbook
Contemporary Business 16th Edition by Louis E. Boone
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17 Chapters
2631 Verified Questions
2631 Flashcards
Source URL: https://quizplus.com/study-set/3987
Page 2
Chapter 1: The Changing Face of Business
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156 Verified Questions
156 Flashcards
Source URL: https://quizplus.com/quiz/80082
Sample Questions
Q1) Ingle is a new recruit at an IT firm. He feels that his compensation is below industry standards, and his colleagues at other firms urge him to switch his employment with a company that pays a better salary. Instead of changing his job, he forms a trade union to ensure fair wages in the firm. Which of the following rights has Ingle exercised?
A) Right to private property
B) Right to competition
C) Right to profits
D) Right to freedom of choice
Answer: D
Q2) All of the following are basic rights within a private enterprise system EXCEPT _____. A) right to private property
B) right to profits before tax deduction
C) freedom of choice of investment
D) freedom of choice of employment
Answer: B
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Chapter 2: Business Ethics and Social Responsibility
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183 Verified Questions
183 Flashcards
Source URL: https://quizplus.com/quiz/80084
Sample Questions
Q1) When a publicly traded firm is suspected of unethical or illegal behavior, the _____ will conduct an investigation.
A)Securities and Exchange Commission (SEC)
B)Occupational Safety and Health Administration (OSHA)
C)False Claims Act
D)integrity
E)social audit
F)social responsibility
G)business ethics
H)sexual harassment
I)code of conduct
J)conflict of interest
K)Product liability
L)postconventional stage
M)Regulation FD
N)Whistle-blowing
O)green marketing
Answer: A
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Page 4
Chapter 3: Economic Challenges Facing Contemporary Business
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179 Verified Questions
179 Flashcards
Source URL: https://quizplus.com/quiz/80086
Sample Questions
Q1) Attempting to bring about changes in economic activity through changes in the size of the nation's money supply is called _____.
A)Consumer Price Index (CPI)
B)Inflation
C)Gross domestic product (GDP)
D)fiscal policy
E)monetary policy
F)equilibrium price
G)budget deficit
H)Pure competition
I)supply
J)Demand
K)Productivity
L)recession
M)microeconomics
N)oligopoly
O)monopoly
Answer: E
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Page 5
Chapter 4: Competing in World Markets
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171 Verified Questions
171 Flashcards
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Sample Questions
Q1) A nation's infrastructure includes all facilities aside from Internet access.
A)True
B)False
Q2) Speedy Lube enters into a contract with a foreign company to produce and distribute its products in a specific geographic area. Speedy Lube is involved in _____.
A) foreign licensing
B) countertrade
C) international production
D) direct exporting
Q3) Allison, a U.S. citizen, travels to Europe and spends $2,000 on souvenirs. She is contributing to the _____.
A) U.S. trade surplus
B) growing exchange rate
C) U.S. balance of payments surplus
D) U.S. balance of payments deficit
Q4) A country's trade balance is determined by comparing the total amount of its exports to its imports.
A)True
B)False
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Chapter 5: Forms of Business Ownership and Organization
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164 Verified Questions
164 Flashcards
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Sample Questions
Q1) A(n) _____ occurs when one firm purchases the property and assumes the obligations of another firm.
A)sole proprietorship
B)small business
C)corporation
D)merger
E)acquisition
F)horizontal merger
G)conglomerate merger
H)cooperative
I)vertical merger
J)business incubators
K)business plan
L)alien corporation
M)preferred stock
N)franchising
Q2) The set-aside program designates that a percentage of government contracts must be awarded to qualifying small businesses.
A)True
B)False
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Page 7
Chapter 6: Starting Your Own Business: the Entrepreneurship Alternative
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111 Verified Questions
111 Flashcards
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Sample Questions
Q1) Who is most likely to succeed as an entrepreneur?
A) Marcel who cannot tolerate failures.
B) Philip who has an aversion for taking risks.
C) Fiona who blames others for her failures.
D) Gina who is driven by the need to excel.
Q2) Which of the following statements best describes how entrepreneurs view failure?
A) They enjoy risk and gambling.
B) They are easily discouraged when things don't go as planned..
C) They view failure as a learning experience.
D) They worry that if they fail they'll never get another opportunity.
Q3) A(n) _____ is another form of intrapreneurship initiated by an employee who conceives an idea, convinces top management of its potential, and then recruits human and other resources from within the company to turn that idea into a commercial project.
A) wealth creation
B) angel investor
C) skunkworks
D) debenture
Q4) Describe the differences between entrepreneurs and small-business owners and managers.
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Chapter 7: Management, Leadership, and the Internal Organization
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194 Verified Questions
194 Flashcards
Source URL: https://quizplus.com/quiz/80090
Sample Questions
Q1) Programmed decisions eliminate the time-consuming process of evaluating alternatives.
A)True
B)False
Q2) Karl is a member of his firm's strategic planning team. He has identified several untapped markets that exist in other countries. In a SWOT analysis, his observation should be listed as a(n) _____.
A) opportunity
B) weakness
C) strength
D) threat
Q3) A petroleum refinery stockpiles crude oil so that it can easily switch between producing home heating oil and gasoline, depending on relative demand. This is an example of _____ planning.
A) contingency
B) incident
C) strategic
D) operational
Q4) Describe the final step in the strategic planning process. Provide an example.
Q5) List the steps involved in the decision-making process.
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Chapter 8: Human Resource Management: From
Recruitment to Labor Relations
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149 Verified Questions
149 Flashcards
Source URL: https://quizplus.com/quiz/80081
Sample Questions
Q1) According to U.S. laws, candidates must provide information about their marital status.
A)True
B)False
Q2) Salma, a supervisor of data entry clerks, includes her subordinates in decision making whenever possible. She believes that most people can think of creative ways to solve work-related problems. Salma's assumption about worker behavior is based on
A) Theory Y
B) management by objectives (MBO)
C) Theory X
D) Maslow's hierarchy of needs
Q3) The purpose of the Equal Employment Opportunity Commission (EEOC) is to _____.
A) determine employee benefits and compensation packages
B) guarantee companies pay social security for all employees
C) investigate discrimination complaints
D) enforce the Family and Medical Leave Act of 1993
Q4) What types of employee benefits are mandated by law?
Q6) What is downsizing? How is it different from outsourcing? Page 10
Q5) Describe the core responsibilities of human resource management.
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Chapter 9: Top Performance Through Empowerment,
Teamwork, and Communication
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146 Verified Questions
146 Flashcards
Source URL: https://quizplus.com/quiz/80091
Sample Questions
Q1) List the basic steps in managing a public relations crisis.
Q2) Feedback is crucial in determining whether a message was decoded properly.
A)True
B)False
Q3) All teams should include people with similar skills who are committed to a common purpose.
A)True
B)False
Q4) Sesika is a new customer service agent at a leading computer service center. She usually spends a lot of time on her calls, trying to resolve the issues of every customer. During the course of a call with a customer, a technical snag caused disturbances in her audio device; thus, making it difficult for the customer to respond to her queries. The issue however remained unresolved. Which of the following is a primary reason for the non-resolution in this case?
A) The length of the call
B) The noise during the call
C) The inexperience of the customer service agent
D) The customer at the call
Q6) Explain the four types of listening behaviors. Page 12
Q5) Describe two tips for enhancing listening skills.
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Chapter 10: Production and Operations Management
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166 Verified Questions
166 Flashcards
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Sample Questions
Q1) Elijah is a warehouse production manager and has been assigned a complex project that might result in lengthy delays. In order to coordinate all aspects of the production process, Elijah has created a(n) _____ chart.
A) ISO
B) FMS
C) Gantt
D) PERT
Q2) Snyder Industries uses 100,000 widgets each year. If Snyder decides to place more orders each year, ordering fewer widgets each time, Snyder will be carrying _____ inventory on average and the risk of running out of inventory will _____.
A) less; rise
B) less; fall
C) more; fall
D) more; rise
Q3) A Gantt chart is associated with which step in production control?
A) Routing
B) Scheduling
C) Dispatching
D) Follow-up
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Page 14
Chapter 11: Customer-Driven Marketing
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156 Verified Questions
156 Flashcards
Source URL: https://quizplus.com/quiz/80093
Sample Questions
Q1) Customers, suppliers, and employees alike benefit from relationship marketing.
A)True
B)False
Q2) All of the following are methods of segmenting the business market EXCEPT
A) psychographics
B) demographics
C) geographic
D) end-use
Q3) _____ attempts to isolate the traits that distinguish a certain group of customers from the overall market.
A) Marketing
B) Market segmentation
C) Demographic segmentation
D) Data mining
Q4) Marketing is basically a form of selling.
A)True
B)False
Q5) Define the term target market.
Q6) What is marketing? Explain.
Page 15
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Chapter 12: Product and Distribution Strategies
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184 Verified Questions
184 Flashcards
Source URL: https://quizplus.com/quiz/80094
Sample Questions
Q1) Merchant wholesalers are independently owned and take actual title to the goods they handle.
A)True
B)False
Q2) Wholesalers are examples of marketing intermediaries.
A)True
B)False
Q3) Identify and describe the major stages of the product life cycle.
Q4) Coke, Diet Coke, Cherry Coke, Coke Zero, and Coke with Lime constitute Coca Cola's _____ of soft drinks.
A) product mix
B) product life cycle
C) product cluster
D) product line
Q5) Gordon purchased a new PC from Dell Computer's web site. He purchased his product via a(n) _____.
A) direct distribution channel
B) indirect distribution channel
C) wholesaler
D) retailer
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Chapter 13: Promotion and Pricing Strategies
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157 Verified Questions
157 Flashcards
Source URL: https://quizplus.com/quiz/80095
Sample Questions
Q1) A major portion of the U.S. advertising is science oriented.
A)True
B)False
Q2) Differentiate between pushing strategies and pulling strategies.
Q3) Crabfeet, a shoe manufacturing company, wants to create increased awareness about its products. The company wants to easily measure the effectiveness of its campaign strategies to increase awareness. Which component of the promotional mix must it focus on?
A) Sales promotion
B) Advertising
C) Public relations
D) Guerrilla marketing
Q4) The goal of_____ advertising is to maintain awareness of the usefulness of a product.
A) advocacy
B) comparative
C) persuasive
D) reminder-oriented
Q5) Describe the relationship between price and quality.
Q6) Describe how the Internet has changed advertising and provide examples.
Page 17
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Chapter 14: Using Technology to Manage Information
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) A(n) _____ is an information system that provides direct assistance to businesspeople to make decisions and choose courses of action.
A)CIO
B)VoIP
C)decision support system
D)firewall
E)application service provider
F)virtual private network
G)WiFi
H)intranet
I)malware
J)local area network
K)data
L)grid computing
M)expert system
N)executive support system
O)spyware
P)database
Q)cloud computing
R)botnet
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Page 18
Chapter 15: Understanding Accounting and Financial Statements
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136 Verified Questions
136 Flashcards
Source URL: https://quizplus.com/quiz/80096
Sample Questions
Q1) Profitability ratios measure a firm's ability to meet its short-term obligations.
A)True
B)False
Q2) Explain the accounting equation.
Q3) The Securities and Exchange Commission is the chief federal regulator of financial markets and the accounting industry.
A)True
B)False
Q4) A(n) _____ is a financial statement that is directly based on the accounting equation.
A) balance sheet
B) income statement
C) statement of cash flows
D) statement of changes in retained earnings
Q5) Monica is involved in obtaining new funds to run and expand the business. She is engaged in an investing activity.
A)True
B)False
Page 19
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Chapter 16: The Financial System
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163 Verified Questions
163 Flashcards
Source URL: https://quizplus.com/quiz/80097
Sample Questions
Q1) When a company offers stock for sale to the general public for the first time, it is called an initial public offering.
A)True
B)False
Q2) In the long run stock prices tend to follow a company's profits.
A)True
B)False
Q3) U.S. banks make few foreign investments due to regulatory restrictions.
A)True
B)False
Q4) An owner of which form of stock would receive dividend payments first?
A) Convertible securities
B) Common stock
C) Preferred stock
D) Standard stock
Q5) Regulation of U.S. financial markets is primarily a function of the federal government; states do not regulate them in any way.
A)True
B)False
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Chapter 17: Financial Management
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) The major purpose of cash is to pay day-to-day expenses.
A)True
B)False
Q2) Explain how the cash inflows and outflows of a business are similar to those of a household.
Q3) Leverage _____ the return to shareholders and _____ the risk of their investment. A) lowers; lowers B) lowers; increases C) increases; lowers D) increases; increases
Q4) A(n) _____ is a document that specifies the funds a firm will need for a period of time, the timing of inflows and outflows, and the most appropriate sources and uses of funds.
A) asset management plan
B) leverage plan
C) strategic plan
D) financial plan
Q5) Explain what can be indicated by the growing importance of financial professionals.
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