Introduction to Business Exam Review
Course Introduction
Introduction to Business provides a comprehensive overview of the fundamental concepts and practices that form the foundation of modern business. This course explores key areas such as management, marketing, finance, human resources, and entrepreneurship, offering students insight into the roles and responsibilities within various business functions. Through real-world examples and case studies, students will gain an understanding of how businesses operate in domestic and global markets, develop essential problem-solving and decision-making skills, and examine the ethical and social responsibilities of business organizations. By the end of the course, students will be equipped with a broad perspective of the business world, preparing them for further study or entry-level business roles.
Recommended Textbook
Understanding Business Ethics 3rd Edition by Peter A. Stanwick
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13 Chapters
687 Verified Questions
687 Flashcards
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Page 2
Chapter 1: The Foundation of Ethical Thought
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53 Verified Questions
53 Flashcards
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Sample Questions
Q1) The trolley problem is an example of
A) Sidgwick's dualism
B) Kant's ethics
C) An ethical dilemma
D) Ethical egotism
Answer: C
Q2) Within the analytical ethics context, there is no interpretation of the facts or assumptions concerning why certain courses of action took place.
A)True
B)False
Answer: False
Q3) Existentialism is represented in fidelity and self-improvement, and contractarianism is represented in fidelity and justice.
A)True
B)False
Answer: True
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Chapter 2: The Evolving Complexities of Business Ethics
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49 Verified Questions
49 Flashcards
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Sample Questions
Q1) In the global study measuring different components of cheating, there is a strong positive correlation between cheating and the level of corruption in a country.
A)True
B)False
Answer: False
Q2) During the 1950s, the most significant event in the United States was the passage of the Sarbanes-Oxley Act.
A)True
B)False
Answer: False
Q3) Gender and ethnic biases can be common implicit prejudices.
A)True
B)False
Answer: True
Q4) The Dutch tax shelters are viable only to artists who are U.S. citizens.
A)True
B)False
Answer: False
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Page 4
Chapter 3: Stakeholders and Corporate Social Responsibility
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53 Verified Questions
53 Flashcards
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Sample Questions
Q1) An amoral manager is one who not only does not care how his or her decisions impact the stakeholders, but the actions are actively counter intuitive to what is the right and ethical thing to do.
A)True
B)False
Answer: False
Q2) Nongovernmental Organizations (NGOs) are increasingly important stakeholders to firms as influencers, on such aspects as human rights, the natural environment, and in the emerging world. Which is a not a factor to consider when working with NGOs?
A) Transaction costs
B) Brand impact
C) Competitive position
D) Financial stability
Answer: D
Q3) The customer-firm relationship is based on ethical principles as well as commercial criteria.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Ethics and Financial Reporting
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51 Verified Questions
51 Flashcards
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Sample Questions
Q1) In a short essay, list the six sets of industry factors that affect the industry based antecedents of fraud.
Q2) As an industry increases in concentration, the chance that collusion will take place in the industry also increases.
A)True
B)False
Q3) As top level managers get older they are less likely to take risks and are not as concerned about short term gratification.
A)True
B)False
Q4) Earnings management is the purposeful intervention in the process of reporting income numbers with the objective of dampening the fluctuations of those numbers around their trend.
A)True
B)False
Q5) An audit is required to be conducted each fiscal quarter for companies that are publicly traded.
A)True
B)False
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Chapter 5: Ethical Leadership and Corporate Governance
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53 Verified Questions
53 Flashcards
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Sample Questions
Q1) The ____________ actually makes the key decisions for the firm, and the top-level management is responsible for implementing the board's decisions.
A) Intervening board
B) Passive board
C) Certifying board
D) Operating board
Q2) The certifying board actually makes the key decisions for the firm, and the top-level management is responsible for implementing the board's decisions.
A)True
B)False
Q3) An inconsistent leader has strong ethical traits and behavior and can translate those traits to others.
A)True
B)False
Q4) In a short essay, describe the following types of leaders based on the combination of moral person and moral manager scenarios: (a) unethical leader, (b) ethical leader, (c) hypocritical leader, and (d) inconsistent leader.
Q5) In a short essay, discuss corporate governance.
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Chapter 6: Strategic Planning, Corporate Culture, and Corporate Compliance
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55 Verified Questions
55 Flashcards
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Sample Questions
Q1) Corporate culture is based on norms and behavior patterns within any given organization.
A)True
B)False
Q2) Basic assumptions are the key starting point for ethical decision making within the firm.
A)True
B)False
Q3) ______________ is the process in which future courses of action are developed to achieve the firm's short- and long-term goals.
A) Strategic planning
B) Tactical planning
C) Operational planning
D) Virtual planning
Q4) In a short essay, identify the key elements of corruption and and how these may be classified.
Q5) In a short essay, set out the key steps that firms need to follow to evaluate their corporate culture to develop an effective integrity strategy.
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Chapter 7: Decision Making and Human Resource Issues
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52 Verified Questions
52 Flashcards
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Sample Questions
Q1) In a short essay, list and discuss the six stages in the moral development of an individual.
Q2) Which of the following is not one of the three categories of moral luck?
A) Resultant luck
B) Circumstantial luck
C) Constitutive luck
D) Virtual luck
Q3) Resultant luck is based on the background, family support system, and life experiences a person has before the moral decision is made.
A)True
B)False
Q4) Influence is something an individual has, but power is something an individual has to do.
A)True
B)False
Q5) In 2011, the EEOC received _________ claims of sexual harassment.
A) 113,640
B) 1,364
C) 11,364
D) 1,136,400
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Chapter 8: Ethics and the Environment
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53 Verified Questions
53 Flashcards
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Sample Questions
Q1) In the tragedy of the Commons, Hardin refutes Adam Smith's invisible hand by arguing that the self-interests of each individual do not always translate into the promotion of the public good for everyone.
A)True
B)False
Q2) Friends of the Earth has idenetified envonmental accounting tricks that companies play. Which of the following is not one?
A) Lowballing superfund liabilities
B) creating anEnvironmental Defense Fund
C) hiding asbestos liability
D) painting a rosy picture
Q3) _______________ can be defined as the systematic equal allocation of environmental benefits and burdens.
A) Environmental auditing
B) Ethical justice
C) Environmental justice
D) Environmental accounting
Q4) In a short essay, list and discuss the five types of risks a firm encounters due to the impact of climate change.
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Chapter 9: Ethics and Information Technology
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53 Verified Questions
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Sample Questions
Q1) The ______________ is used to help managers determine a decision that will produce the greatest good to the greatest number of stakeholders.
A) Stakeholder analysis
B) Utilitarian goal-based analysis
C) Government-based analysis
D) Duty-based analysis
Q2) Cookies are a form of monitoring customers and potential customers.
A)True
B)False
Q3) In general, most employees can assume that their e-mail messages are not private.
A)True
B)False
Q4) An effective data policy needs to address issues of all of the following except A) Privacy
B) Accuracy
C) Ownership
D) Profitability
Q5) In a short essay, explain the USA PATRIOT Act.
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Chapter 10: Ethics and Information Technology
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52 Verified Questions
52 Flashcards
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Sample Questions
Q1) ____________are more willing than the general public is to purchase green products.
A) Greenback greens
B) Grousers
C) True blue greens
D) Basic browns
Q2) Which is not one of the processes that determines the level of trust in interpersonal relationships?
A) Calculative process
B) Prediction process
C) Intentionality process
D) Social ties
Q3) ______________ focuses on the relationship between the customers and the firm from a commitment perspective.
A) Cultural marketing
B) Relationship marketing
C) Constructive marketing
D) Social Marketing
Q4) In a short essay, list the seven steps to developing a customer relationship management model.
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Chapter 11: Ethical Issues in the Developing World
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55 Verified Questions
55 Flashcards
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Sample Questions
Q1) Which of the following is NOT one of the different types of social entrepreneurs based on the proposed typology by Skaher Zahra?
A) Social Bricoleur
B) Social Constructionist
C) Social Technologist
D) Social Engineer
Q2) To be classified as a biofuel, a product must be made of at least 80% renewable materials and be produced from living organisms or from organic/food waste products.
A)True
B)False
Q3) One of the unique aspects of microfinance loans is that only a small amount of collateral is needed and the loans are usually repaid between two to five years.
A)True
B)False
Q4) Ethanol is also known as hydrogen peroxide.
A)True
B)False
Q5) In a short essay, list and discuss the root causes of hunger.
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Chapter 12: Establishing a Code of Ethics and Ethical Guidelines
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53 Verified Questions
53 Flashcards
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Sample Questions
Q1) Section 406 of the Sarbanes-Oxley Act of 2002 requires that companies that are publicly traded disclose whether or not they have a code of ethics.
A)True
B)False
Q2) Which of the following are recommendations made by governments for multinational enterprises to adopt into their own codes of ethics?
A) The Caux Round Table Principles
B) Kyoto Treaty
C) The Organization of Economic Co-operation and Development guidelines for multinational enterprises
D) The United Nations Global Impact
Q3) A corporate credo is a statement that sets forth the company's beliefs and responsibilities to stakeholders.
A)True
B)False
Q4) In a short essay, list and discuss the three major stages of the Total Responsibility Management system.
Q5) In a short essay, describe the main elements of a Living Code of Ethics.
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Chapter 13: Evaluating Corporate Ethics
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Sample Questions
Q1) The goals of an ethics training program do not include
A) Providing the necessary tools need by employees to understand the ethical decision-making process
B) Explaining the procedure used when employees violate ethical standards
C) Giving pay rises to all employees
D) Creating a strong ethical work climate
Q2) As multinational corporations approach the issue of ethics training programs, the level of complexity increases due to the intricacies of doing business in a global environment.
A)True
B)False
Q3) In the opening vignette __________________were accused of being intoxicated, arriving late, and stealing.
A) Police
B) Liverpool fans
C) Nottingham Forest fans
D) Firefighters
Q4) In a short essay, explain whistle-blowing and list the four-step process that must take place before a firm is notified by a whistle-blower of potentially unethical behavior.
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