Business Ethics: Principles and Practices

A- Businesses have a set of applied or professional moral principles that are relevant to them.

B- Moral principles are principles of right and wrong that are accepted by an individual or a group.

C- The moral principles of an organization will govern the conduct of the individuals within the organization.

D- The same moral principles are always shared among and followed by different social groups.

A- Decreased reporting of misconduct

B- Increased pressure for misconduct

C- A decrease in observed misconduct

D- Reduced retaliation for reporting

A- By reinforcing the individual�s own moral principles

B- By having the proper preventive and detective controls

C- By having a strong ethical culture in the organization

D- By communicating corporate values and emphasizing those values

A- Reinforcing ethical behavior

B- Supporting each other in doing the right thing

C- Reporting observed misconduct

D- Providing direction and setting expectations

1. Compliance with the code
2. Conflict of interest
3. Respect for the law
4. Confidentiality of information

1. External investigators are a better option compared to internal audit for investigating the whistleblowing report.
2. It�s important to keep the whistleblower anonymous through a confidential whistleblower reporting mechanism.
3. Whistleblowers tend to be company insiders who have a strong moral compass.

1. You accept expensive gifts from a client.
2. You offer a client a worse product for your own sales target.
3. One of your family members is connected to a client of your organization.
4. You provide paid services on your time off to a company customer.

1. Report the situation to a third-party committee.
2. Quit your job immediately.
3. It�s not necessary to do anything.
4. Disclose the conflict of interest to your manager.

1. The company has a channel for employees to report misconduct anonymously.
2. Employees are encouraged to do whatever it takes to achieve their goals.
3. The company assesses the ethical conduct as part of employee performance evaluation.
4. Individuals often rationalize their behavior by saying �everybody does it.�

1. Based on the justice approach, you should treat people differently to provide the greatest good for the greatest number.
2. Different ethical approaches to decision making might be in conflict with each other.
3. The rights approach promotes concepts such as the right of privacy, the right to the truth, and the right to what is agreed.
4. Based on the common good approach, Individuals should take actions that positively impact society.

Yes, businesses have a set of applied or professional moral principles that are relevant to them. These moral principles, also known as business ethics, are the set of values, principles, and standards that guide the behavior of individuals and organizations in the business world.

Some common examples of professional moral principles in business include honesty, fairness, responsibility, and respect for the rights of others. Other principles may include transparency, accountability, and sustainability.

These principles are important in helping businesses maintain their reputation and credibility with stakeholders, including customers, employees, investors, and the wider community. Adhering to ethical principles can also lead to improved performance and long-term success for the business.