Introduction to Business Exam Review
Course Introduction
Introduction to Business provides students with a foundational understanding of the world of commerce and the essential concepts that underpin modern business practices. The course explores various forms of business ownership, the role of entrepreneurship, management and organizational structures, marketing principles, and the basics of accounting and finance. Students will also gain insight into current trends, ethical issues, and the impact of globalization on business operations. Through real-world case studies, interactive discussions, and applied projects, learners will develop a comprehensive perspective on how businesses operate and their vital role in the economy.
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) 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
Q2) The trolley problem is an example of
A) Sidgwick's dualism
B) Kant's ethics
C) An ethical dilemma
D) Ethical egotism
Answer: C
Q3) As opposed to deontological frameworks, which focus on whether the results are favorable or not, teleological frameworks focus on the duty or obligation in determining whether the actions are right or wrong.
A)True
B)False
Answer: False
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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) 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
Q2) All of the following represent one of the thirteen behaviors that can help identify the level of integrity in individual action except
A) Reproaching just acts
B) Possessing humility
C) Maintaining reciprocity
D) Taking responsibility
Answer: C
Q3) The obituary test of integrity is also called the Golden Rule. A)True
B)False
Answer: False
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Chapter 3: Stakeholders and Corporate Social Responsibility
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53 Verified Questions
53 Flashcards
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Sample Questions
Q1) Which of the following approaches is not a model of employee engagement with CSR ?
A) Transactional
B) Philanthropic
C) Relational
D) Developmental
Answer: B
Q2) Which of the following is not one of the key trust factors between the firm and the stakeholder____________?
A) Rational prediction of outcomes
B) Emotion
C) Financial return
D) A clear moral element
Answer: C
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) The ________________ refers to the level of diversity of the markets and customers, which must be addressed by the firm.
A) Level of industry concentration
B) Environmental hostility
C) Environmental dynamism
D) Level of environmental heterogeneity
Q2) Creative accounting can be defined as the deviation from the traditional methods used to interpret an accounting rule or standard.
A)True
B)False
Q3) Which of the following occurs when the individual is hesitant to reject a biased proposal from someone else?
A) The halo effect
B) Selective perception
C) Plausible deniability
D) Escalation of commitment
Q4) In a short essay, list and discuss the five individual moderators that affect the individual-level antecedents of fraud.
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Chapter 5: Ethical Leadership and Corporate Governance
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53 Verified Questions
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Sample Questions
Q1) The ____________ board has a proactive role within the decision-making process.
A) Passive
B) Engaged
C) Reactive
D) Operating
Q2) Which board type becomes actively involved in all major decisions of the firm and meets frequently and focuses intensely on all issues on the agenda at the board meetings?
A) Intervening board
B) Passive board
C) Certifying board
D) Operating board
Q3) From the perspective of ______________, compensation would focus on the consequences of the greatest good to the greatest number of people.
A) Ethical egoism
B) Deontological ethics
C) Utilitarianism
D) Sidgwick's dualism
Q4) In a short essay, discuss corporate governance.
Page 7
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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) Which of the following occurs when illegal financial incentives are given to higher-ranked public officials for decisions that usually include major infrastructure contracts, the purchasing of military equipment, or other major industry-based decisions?
A) Collusive peddling
B) Petty corruption
C) Grand corruption
D) Influence peddling
Q2) An ethical crisis occurs when an event that was not part of the normal course of action for a firm takes place and affects the firm.
A)True
B)False
Q3) _____________ are based on what groups within the firm learn about what is acceptable and not acceptable.
A) Shared values
B) Basic assumptions
C) Artifacts
D) Self-interests
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Chapter 7: Decision Making and Human Resource Issues
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Sample Questions
Q1) Production deviance and political deviance would be more harmful to the firm while political deviance and personal aggression would be more harmful to individuals within the firm.
A)True
B)False
Q2) What proportion of women reported the reason for extreme job working "High quality colleagues"?
A) 82%
B) 28%
C) 43%
D) 30%
Q3) Which of the following categories of deviant behavior includes actions such as acting in an uncivilized manner, accusing and blaming the wrong people when mistakes are made, and starting false rumors and gossip that can be harmful to employees?
A) Political deviance
B) Property deviance
C) Production deviance
D) Personal aggression
Q4) In a short essay, list and discuss the elements involved in employee monitoring.
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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) According to the text, which of the following is NOT one of the three types of economies based on a country's stage of economic development?
A) survival
B) emerging
C) developed
D) overdeveloped
Q2) ___________ of firm transformation is concerned with alignment of strategy and deployment of the sustainable strategy?
A) Stage 1
B) Stage 2
C) Stage 3
D) Stage 5
Q3) A green manufacturing company can make three strategic manufacturing adjustments. Which of the following may not be a positive adjustment.
A) Adjustment to the manufacturing process
B) outsourcing of the manufacturing process
C) Introduction of new production processes
D) Incorporate waste reduction and recycling technologies
Q4) In a short essay, explain the concept of the Tragedy of the Commons.
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Chapter 9: Ethics and Information Technology
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53 Verified Questions
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Sample Questions
Q1) Downloading of music and movies has become a large problem as more and more Internet users develop attitudes that if the music is there, it is for entertainment purposes and it is free.
A)True
B)False
Q2) What percentage of managers considered the right of employees to send and receive personal e-mails during working hours seriously unethical?
A) 39%
B) 50%
C) 56%
D) 58%
Q3) Based on the results of the American Management Association/ePolicy Institute Survey on electronic monitoring and surveillance, companies reported that they had dismissed ______of workers for misusing the Internet.
A) 9%
B) 30%
C) 48%
D) 73%
Q4) 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
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Sample Questions
Q1) The Tobacco Plain Packaging Act was passed by the United States in 2011.
A)True
B)False
Q2) In June 2012, The Walt Disney Company announced that all products that will be advertised on the children-based television channels, radio stations, and websites owned by the company must comply with strict nutritional standards.
A)True
B)False
Q3) All of the following are categories described by the critical factors of compromise and confidence that determine the level of effectiveness in green products except
A) Win-win purchases
B) Win-lose purchases
C) Feelgood purchases
D) Why bother? purchases
Q4) In what year did the Joe Camel character "die"?
A) 1987
B) 1997
C) 2011
D) 2012
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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) The first generation of business strategies targeted to the poorest customers focused on "fortune finding," while the second generation of business strategies focuses on "fortune creating" by forming partnerships with local businesses within the poorest countries.
A)True
B)False
Q2) To be classified as a biofuel, a product must be made of at least _______ renewable materials and be produced from living organisms or from organic/food waste products.
A) 20%
B) 40%
C) 60%
D) 80%
Q3) All of the following are types of capital that social entrepreneurs need to focus on in order to succeed in their vision except
A) Financial capital
B) Cultural capital
C) Environmental capital
D) Aesthetic capital
Q4) In a short essay, list and discuss the root causes of hunger.
Page 13
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Chapter 12: Establishing a Code of Ethics and Ethical Guidelines
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53 Verified Questions
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Sample Questions
Q1) A corporate credo is a statement that sets forth the company's beliefs and responsibilities to stakeholders.
A)True
B)False
Q2) During the _____________, a firm identifies the establishment of its ethical leadership commitment as well as establishes the vision-setting process.
A) Inspiration process
B) Integration process
C) Commercialization process
D) Innovation and improvement process
Q3) In a short essay, describe the main elements of a Living Code of Ethics.
Q4) Total Responsibility Management starts with the premise that the vision of the firm drives the development of the code of ethics.
A)True
B)False
Q5) The three major stages of the TRM system are unfreezing, moving, and refreezing.
A)True
B)False
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Chapter 13: Evaluating Corporate Ethics
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Sample Questions
Q1) The ____________ has the authority to enforce the whistle-blower section of the Sarbanes-Oxley Act.
A) Federal Trade Commission
B) Occupational Safety and Health Administration
C) Federal Communications Commission
D) Securities Exchange Commission
Q2) The Integrity Helpline (Deloitte and Touche USA LLP) sets out a number of circumstances in which the hotline should be contacted by employees. Which is not one of them?
A) If you believe that ethics and compliance issues are not being resolved
B) If you don't feel comfortable reporting through normal channels
C) If the IT systems break down
D) If you wish to remain anonymous when filing a report
Q3) Many corporations are finding themselves appointing ethics officers.
A)True
B)False
Q4) Establishing an ethics program is a challenge only for large publicly traded companies.
A)True
B)False
Page 15
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