Final Exam Business Ethics [PDF]

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San Roque National High School San Roque, Gapan City FINAL EXAMINATION BUSINESS ETHICS AND SOCIAL RESPONSIBILITY ABM 12- A & B CHOOSE THE LETTER OF THE BEST ANSWER 1.

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What is the most important responsibility of business according to Milton Friedman? a. Care of the environment c. Contribute to the community b. Take care of employees d. Increase profits As an organizational manager, what is the best way to encourage ethical behaviour in your employees? a. Hide difficulty decisions from employees c. Ignore unethical behaviour b. Have very strict rules in place d. Lead by example What happens if a company makes unsafe products? a. The company can improve its profits b. The company may have to recall the product and replace it at great expense c. The unsafe products can improve the company’s reputation d. Customers will accept the unsafe products because they have no choice Which of the following is NOT a responsibility that businesses owe to their shareholders? a. Managers have a responsibility to use carefully the money invested b. Managers have a responsibility to honestly communicate company information c. Managers have a responsibility to use their best judgement in developing, manufacturing, and marketing their products d. Managers have a responsibility to provide steady dividends for those shareholders who need it for retirement Which of the following approaches to ethical decision-making will yield an unethical decision? a. Strive to treat people impartially and consistently b. Apply existing laws to the situation c. Remain within the letter of the law while intending to mislead people d. Apply the Golden rule to the situation The ethical norm of _____ addresses people’s responsibilities to each other a. Rights b. Caring c. Utility d. Justice Fairness in trading practices. Trading conditions, sales practices, consultancy services, tax payments, internal audits, external audits, and executive compensation also fall under what field? a. Sales and marketing c. Production b. Finance and accounting d. Human resource management It is the study of knowledge, reality, and existence. a. Philosophy b. Mathematics c. Biology d. Humanities The theory focus on the person’s actions or the actions of others toward the person. a. Ethical theory b. Justice theory c. Right theory d. Philosophical theory It defines justice as the ideal, morally correct state of things and persons. a. Ethical theory b. Justice Theory c. Right theory d. Philosophical theory It is a very specific and defined field of human endeavour. a. Business b. Business ethics c. Businesswoman d. Business Math Refers to some problem-solving techniques designed to help the practitioner when confronted with dilemmas. a. Business b. Business ethics c. Businesswoman d. Business Math What notion should be at the heart of ethical theory, according to virtue ethics? a. Duty b. Intrinsic value c. Moral character d. Pleasure What is the relationship between duty and virtue, according to virtue ethics? a. Duty is defined as what a virtuous person would do. b. Virtue is defined as a character trait that leads us to do our duty. c. The two concepts are independent of one another d. If one does one’s duty, virtue is unnecessary It is refers to a corporation’s responsibilities or obligations toward society. a. Corporate Service Responsibility c. Corporate Social Responsibility b. Corporate Science Responsibility d. Corporate Socio Responsibility Any person or organization who can positively or negatively impacted by or cause an impact on the action of company. a. Shareholder b. Stockholder c. Studentholder d. Stakeholder

17. Engage in economic transactions with the business (for example stockholders, customers, suppliers, creditors, and

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employees) a. Primary stakeholder b. Secondary stakeholder c. Internal stakeholder d. External stakeholder Stakeholder that do not engage in direct economic with the business but they are affected by or can affect its actions. a. Primary stakeholder b. Secondary stakeholder c. Internal stakeholder d. External stakeholder Group of people who work for the company. a. Employees b. Owner c. Investor d. Customers They are considered the king of business because they are the one who is going to consume the product. a. Employees b. Owner c. Investor d. Customers The individual or group who invest their money in the organization. a. Employees b. Owner c. Investor d. Customers The individual or group who owns the organization. a. Employees b. Owner c. Investor d. Customers What does CSR stand for? a. Companies’ Social Responsibility c. Corporate Social Revolution b. Common Sense Responsibility d. Corporate Social Responsibility ____ are those groups, individuals, and organizations that are directly affected by the practice of an organization and have a stake in its performance. a. Agents b. Entities c. Investors d. Stakeholders What is social responsibility? a. An ethical ideology that an organization or individual has an obligation to act to benefit society. b. A way of conducting business through balancing the behavior of a company with the expectations of society. c. A duty everyone has to perform so as to maintain a balance between the economy and the ecosystem. d. All of these answer Which of the following would NOT be considered an external stakeholder? a. Regulators b. Employees c. Customers d. Investors What does SRI stand for? a. Socially Responsible Investment c. Sociology Responsible Investment b. Socially Revolution Investment d. Sociology Revolution Investment It is ‘making money while influencing positive change’ a. Impact Invention b. Impact Innovation c. Impact Investing d. Impact Intuition They provide inputs to the organization like raw material, equipment a. Suppliers b. Customers c. Creditors d. Clients They are the individual, bank or financial institution who provides funds to the organization a. Suppliers b. Customers c. Creditors d. Clients

For numbers 31-40. Matching Type. Choose the letter of the correct answer. 31. Ability to choose for oneself between right and wrong;

a. Temperance

The ability to answer for one’s conduct obligations. D 32. Adherence to moral and ethical principles; soundness 33. 34. 35. 36. 37. 38. 39. 40.

Of moral character; firm adherence to a code. K An act of giving particular attention, to hold in high or special Regard, to honor or hold in high esteem. G Mental or moral strength to venture, persevere, and Withstand danger, fear, or difficulty H Avoid extremes. Forbear resenting injuries so much As you think they deserve. I Be not disturbed at trifles, or at accidents common Or unavoidable. J Let all your things have their places. Let each part of Your business have its time. C Eat not to dullness. Drink not to elevation. A The quality of being impartial or fair; the administration Of equitable law. F Lose no time. Be always employed in something useful. Cut off all unnecessary actions. B

b. Industry c. Order d. Responsibility e. Frugality f. Justice g. Respect h. Courage i. Moderation j. Tranquility k. Integrity

For numbers 41-50. Identify the following and choose the letter of the correct answer in the box below. A. B. C. D. E.

Socrates Plato Rene Descartes Aristotle

E. John Locke F. Francis Bacon G. Comenius H. Immanuel Kant

I. Hegel J. Augustine K. Kemerut

41. 42. 43. 44. 45. 46. 47. 48. 49. 50.

Libido Dominande (the desire to dominate) J “Learn from ideas you dislike” I “If you want to get a good job, then you ought to go to college” H “Education is necessary to all” G The Father of Scientific Method F Tabula Rasa E “What makes people happy?’ D “I think therefore, I am” C The proponent of Four big ideas to make life fulfil B The lover of wisdom. A

--------------------------------------------------------------------------------------------------------------------------------------------------Maybe it would be your last examination in my class But it does not mean that it would be the last time we walk to the same path Good luck to the next chapter of your journey my dear senior high students Be FAIR Be ACCOUNTABLE Be TRANSPARENT Use ETHICS and be SOCIALLY RESPONSIBLE Looking forward to be YOUR Company’s STAKEHOLDER in the near future

GOD BLESS!!! -Ma’am Ronalette Danes-