Business Ethics: Chapter One Quiz

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What is the primary focus of business ethics?

Minimizing competition in the market

Maximizing profits at any cost

Balancing responsibilities to oneself and others (correct)

Avoiding legal compliance

What does Warren Buffett's quote imply about reputation?

It takes a long time to build and can be easily rebuilt

It is essential and can be quickly damaged (correct)

It is influenced by personal integrity only

It is irrelevant in business

What does the text emphasize about ethical decision making in business?

It is solely based on personal integrity

It involves considerations of social responsibility (correct)

It is unrelated to practical reasoning

It is not important in the business environment

Why does the text suggest that it takes 20 years to build a reputation?

To underscore the importance of long-term reputation building Signup and view all the answers

What is the primary concern of ethics in the business environment according to the text?

Balancing responsibilities to oneself and others Signup and view all the answers

Business ethics examines the responsibilities we owe to ourselves and to each other.

True Signup and view all the answers

Ethical decision making is not considered a form of practical reasoning according to the text.

False Signup and view all the answers

Personal integrity and social responsibility are considered to be the same in terms of ethics.

False Signup and view all the answers

Ethics is not important in the business environment.

False Signup and view all the answers

Ethical responsibilities are limited to legal compliance according to the text.

False Signup and view all the answers

What distinguishes ethics from other practical decisions within business?

Normative approach Signup and view all the answers

In the context of ethics, what do social sciences primarily focus on according to the text?

Descriptive reasoning Signup and view all the answers

What type of reasoning do philosophers emphasize in the context of ethics, according to the text?

Normative approach Signup and view all the answers

What does ethics seek an account of in relation to human behavior?

How and why people should act a certain way Signup and view all the answers

How does the text describe the focus of ethics compared to social sciences in relation to human decision making?

Ethics focuses on normative reasoning, while social sciences focus on descriptive reasoning Signup and view all the answers

Business Ethics: Chapter One Quiz

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Questions and Answers

What is the primary focus of business ethics?

What does Warren Buffett's quote imply about reputation?

What does the text emphasize about ethical decision making in business?

Why does the text suggest that it takes 20 years to build a reputation?

What is the primary concern of ethics in the business environment according to the text?

Business ethics examines the responsibilities we owe to ourselves and to each other.

Ethical decision making is not considered a form of practical reasoning according to the text.

Personal integrity and social responsibility are considered to be the same in terms of ethics.

Ethics is not important in the business environment.

Ethical responsibilities are limited to legal compliance according to the text.

What distinguishes ethics from other practical decisions within business?

In the context of ethics, what do social sciences primarily focus on according to the text?

What type of reasoning do philosophers emphasize in the context of ethics, according to the text?

What does ethics seek an account of in relation to human behavior?

How does the text describe the focus of ethics compared to social sciences in relation to human decision making?

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