12 Questions
What do ethics generally refer to?
Moral principles and values applied to social behavior
What percentage of Mylan's operating profits did EpiPen's annual revenue account for by 2015?
40%
What is the primary concern in determining business ethics?
Application of moral principles
What was the primary reason for Mylan's price increase of EpiPens from $100 to $600, assuming it was legal?
To increase profits
What is the 'moral minimum' in business ethics?
Compliance with the law
What is the main concern in the 'Front Page Article' dilemma?
Ethical implications of the action
From the perspective of agency theory, what is the primary focus of corporate governance?
Protecting shareholder interests
Why did the mid-sized U.S. company outsource its accounting functions to a company in India?
To reduce labor costs
According to Milton Friedman, what is the primary social responsibility of a firm?
To maximize shareholder value and profit
What is the primary consequence of executives prioritizing social concerns over profit maximization, according to Friedman?
Lost efficiency and harm to owners, customers, and labor
What is the primary purpose of an EpiPen?
To stop acute allergic reactions
What was the result of aligning the interests of top executives with shareholders in the U.S.?
An increase in executive stock-based compensation
Test your understanding of business ethics, including the moral principles and values applied to social behavior in a business context. Explore the concepts of fairness, justness, rightness, and wrongness in business decision-making.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
