Introduction to Business
Final Test Solutions
Course Introduction
Introduction to Business provides students with a comprehensive overview of the fundamental concepts, principles, and practices that drive the modern business world. The course explores key topics such as business organization, management, marketing, finance, ethics, and the global economic environment. Students will gain an understanding of how businesses are structured, how they operate in various industries, and the critical decision-making processes involved in entrepreneurship and corporate management. Emphasis is placed on the development of problem-solving, communication, and teamwork skills, preparing students for future studies or entry-level positions in business.
Recommended Textbook
Business Ethics Now 3rd Edition by Andrew Ghillyer
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10 Chapters
975 Verified Questions
975 Flashcards
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Page 2
Chapter 1: Understanding Ethics
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) _______ is a particular set of attitudes,beliefs,and practices that characterize a group of individuals.
A)Culture
B)Role
C)Morals
D)Norm
Answer: A
Q2) Discuss ethical relativism.
Answer: Ethical relativism-Concept that the traditions of your society,your personal opinions,and the circumstances of the present moment define your ethical principles.
Q3) In the third stage of Kohlberg's stages of ethical reasoning,a person is focused on meeting the expectations of friends and coworkers and how something will affect their life.
A)True
B)False
Answer: False
Q4) When individuals share similar standards in a community,we can use the term ______________________.
Answer: value system
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Chapter 2: Defining Business Ethics
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) The positive outcome of unethical behavior in the business world has been increased attention to the need for third-party guarantees of ethical conduct and active commitments from the rest of the business world.
A)True
B)False
Answer: True
Q2) Do you agree that the standard for corporate governance appears to be at the lowest level in business history? Explain.
Answer: The standard of corporate governance does appear to be at the lowest in business history.There are numerous examples that support this claim.CEO salary increases far exceed those of employees they lead.In addition,products rushed to the market have later been recalled due to safety problems.
Q3) If you utilize the rules-based resolution principle,you would consider which decision would provide the greatest good for the greatest number of people.
A)True
B)False
Answer: False
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Chapter 3: Organizational Ethics
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96 Flashcards
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Sample Questions
Q1) The last resort for ethical guidance is the Code of Ethics issued by the ______.
A)International Association of Certified Public Accountants
B)Certified Public Accountants Association
C)Accounting Institute of Ethical Conduct
D)American Institute of Certified Public Accountants
Answer: D
Q2) It is legal to defer receipts from one quarter to the next to manage your tax liability.
A)True
B)False
Answer: True
Q3) The actions taken out of duty and obligation to a purely moral ideal refers to utilitarianism.
A)True
B)False
Answer: False
Q4) Product quality is the real ethical dilemma that R&D professionals face.
A)True
B)False
Answer: True
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Chapter 4: Corporate Social Responsibility
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106 Flashcards
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Sample Questions
Q1) By recognizing ___________________ rather than ___________________,corporations must maintain a long-term perspective rather than simply delivering quarterly earnings numbers.
Q2) Organizations that demonstrate a "conscience" beyond profit generation inevitably attract the same amount of attention as organizations that are bottom line-driven. A)True
B)False
Q3) Joseph
F.Keefe asserts that there are five major trends behind the CSR phenomenon. F.Keefe asserts that there are three major trends behind the CSR phenomenon. Joseph A)True
B)False
Q4) In the last 30 years alone,we have consumed ______ of the planet's resources.
A)1/4
B)1/3
C)1/2
D)4/5
Q5) Discuss the major trend: failure of the public sector.
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Chapter 5: Corporate Governance
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86 Flashcards
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Sample Questions
Q1) ____________________ formally recognized the need to move the stakeholder model forward and to consider a triple bottom line instead of a single bottom line of profitability.
Q2) The Cadbury report argued for a guideline of ______.
A)"comply or resign"
B)"comply or else"
C)"comply or explain" D)"explain or else"
Q3) Explain the term corporate governance.
Q4) The Sarbanes-Oxley Act of 2002 incorporates the "comply or else" approach.
A)True
B)False
Q5) The compensation committee is a committee staffed by members of the board of directors plus independent or outside directors.
A)True
B)False
Q6) A fiduciary responsibility is ultimately based on trust.
A)True
B)False
7
Q7) The _____________________________ oversee the governance of an organization.
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Chapter 6: The Role of Government
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Sample Questions
Q1) The _______________________ is a fine that is set high enough to match all the organization's assets and basically put the organization out of business.
Q2) The second step of calculating a sentence under the FSGO is the determination of the base fine.
A)True
B)False
Q3) Title III of the Sarbanes-Oxley Act (SOX)requires senior auditors to rotate off an account every five years.
A)True
B)False
Q4) In certain cases,a judge has the discretion to impose a "death penalty," where the fine is set high enough to match all the organization's assets.
A)True
B)False
Q5) By passing the FCPA,Congress sent a message that U.S.companies should compete solely on the basis on ______________________ and __________________________ in overseas markets.
Q6) Discuss the Foreign Corrupt Practices Act.
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Chapter 7: Blowing the Whistle
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Sample Questions
Q1) All of the following can cause a whistleblower to lose legitimacy,EXCEPT:
A)motivation by financial gains
B)motivation by media attention
C)the employee is carrying out a personal vendetta
D)the employee is trying to protect the public
Q2) Whistle-blowing is ethical under all of the following conditions,EXCEPT:
A)when the motivation is financial gain
B)when the employee identifies a serious threat of harm
C)when the company will cause serious and considerable harm to the public
D)when the employee's immediate supervisor does not act,and the internal procedures and chain of command have been exhausted
Q3) Sherron Watkins was the individual who blew the whistle on WorldCom's illegal activities.
A)True
B)False
Q4) An ___________________ whistleblower is an employee discovering corporate misconduct and chooses to bring it to the attention of law enforcement agencies and/or the media.
Q5) In the year _________ public awareness of whistleblowers reached a peak.
Page 9
Q6) What factors can make a whistleblower lose legitimacy in the eyes of viewers?
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Chapter 8: Ethics and Technology
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80 Flashcards
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Sample Questions
Q1) The ______ is a private piece of a company's network made available to customers or vendor partners,using secured access with a unique password.
A)extranet
B)intranet
C)corpnet
D)govnet
Q2) The first wave of technological advance came with the establishment of call centers in other parts of the world.
A)True
B)False
Q3) Employees feel that electronic monitoring implies that they can't be trusted.
A)True
B)False
Q4) Explain the differences between thin and thick consent.
Q5) In this new environment,the concept of being at work has become far more
Q6) The first wave of this technological advance came with the establishment of
Q7) List and discuss three of the Ten Commandments of Computer Ethics.
Page 10
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Chapter 9: Ethics and Globalization
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111 Flashcards
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Sample Questions
Q1) Globalization can be seen as having an upside only.
A)True
B)False
Q2) The Global Code of Conduct is a general standard of business practice that can be applied equally to all countries over and above their local customs and social norms.
A)True
B)False
Q3) In the pursuit of profit and continued expansion,MNCs have been guilty of bribery,pollution,false advertising,and questionable product quality.
A)True
B)False
Q4) Enforcing ethical behaviors once they cross national boundaries is ______.
A)extremely difficult
B)moderately difficult
C)slightly difficult
D)relatively easy
Q5) A ______________________nation enjoys a high standard of living.
Q6) Discuss the UN Global Compact.
Q7) In the year ________ the UN Global Compact became operational.
Page 11
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Chapter 10: Making It Stick - Doing Whats Right in a Competitive Market
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Sample
Questions
Q1) There is a perfect model for organizations to follow when creating a code of ethics.
A)True
B)False
Q2) The _______ is the senior executive responsible for the monitoring an organization's ethical performance both internally and externally.
A)Ethics Officer
B)Senior Vice President
C)Chief Finance Officer
D)Chief Executive Officer
Q3) With standards of behavior specified in the code of ethics,along with the punishment served for failing to follow those standards,an ethics program can become ______ quite quickly.
A)very harsh
B)rigid
C)stagnant
D)flexible
Q4) ________________ organization policies refer to organizations that maintain open and honest communications with all stakeholders.
Page 12
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