Consequences of a Crisis of Trust and Confidence in Business
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What was the initial perception of business ethics back in 1993?

  • It was viewed as the most critical aspect of business success.
  • It was believed to be an essential component of new managerial training programs.
  • It was seen as a passing trend that would soon fade away. (correct)
  • It was considered a deeply-rooted aspect of business operations.

    • How was business ethics being incorporated into companies in the early 1990s?

  • By introducing strict regulations enforced by the government.
  • By conducting frequent audits to ensure compliance.
  • Through exclusive partnerships with academic institutions.
  • Through new-hire orientations and management training programs. (correct)

    • What was the academia's stance towards business ethics in the early 1990s?

  • It was considered irrelevant and unnecessary for students.
  • It was gaining traction as a subject for serious academic study. (correct)
  • It was not recognized as a legitimate field of study.
  • It was mandated for all students to take a course on business ethics.

    • How did one prominent business writer for Fortune Magazine describe the state of American business in 2007?

    <p>Praising its resurgence after a period of humiliation.</p> Signup and view all the answers

    What did Smith propose as the source of a good life?

    <p>Expression of beneficence</p> Signup and view all the answers

    Why did Smith argue that self-love can spur individuals to improve their condition?

    <p>To better one's own condition</p> Signup and view all the answers

    According to Smith, what must individuals balance to be considered virtuous?

    <p>Prudence, strict justice, and benevolence</p> Signup and view all the answers

    What did Kidder emphasize about the success of capitalism?

    <p>It needs a moral foundation</p> Signup and view all the answers

    What event is mentioned as outdoing itself on the shame index just about a year after business seemed to be back?

    <p>The financial markets collapse</p> Signup and view all the answers

    Why is business ethics considered far from a fad?

    <p>Because it's an ongoing phenomenon that must be better understood and managed</p> Signup and view all the answers

    Who are mentioned as contributing to Enron's collapse besides Enron executives and employees?

    <p>Enron's auditors and bankers</p> Signup and view all the answers

    What scandal is described as unparalleled in scope and fueling public outrage like no other business disaster in the text?

    <p>Financial industry debacle in 2008</p> Signup and view all the answers

    Why were people angry and mistrustful after the financial debacle?

    <p>Due to the lack of regulations in business practices</p> Signup and view all the answers

    What did Rushworth Kidder emphasize in relation to Adam Smith's work?

    <p>The significance of aligning business practices with ethical values</p> Signup and view all the answers

    Why does the text mention Adam Smith's book 'The Theory of Moral Sentiments'?

    <p>To illustrate the disconnect between business practices and ethical principles</p> Signup and view all the answers

    What does Adam Smith's quote at the beginning of his book suggest about human nature?

    <p>Human beings are primarily selfless and empathetic</p> Signup and view all the answers

    What is defined as ethical behavior in business according to the text?

    <p>Behavior consistent with society's agreed upon business principles</p> Signup and view all the answers

    How do many of the standards surrounding ethical behavior in business manifest?

    <p>As laws</p> Signup and view all the answers

    Why is it important to consider the relationship between law and business ethics?

    <p>To understand that following the law doesn't always encompass ethical behavior</p> Signup and view all the answers

    What influences the decisions of individuals in work organizations?

    <p>Characteristics of both individuals and organizations</p> Signup and view all the answers

    What does the text suggest about the role of good upbringing in determining ethical conduct?

    <p>It is an important factor but not the only one.</p> Signup and view all the answers

    Why do some individuals believe ethics should not be taught?

    <p>It is believed that ethics should be a personal issue.</p> Signup and view all the answers

    In the context of organizational ethics, what is one reason mentioned for teaching employees about ethical dilemmas?

    <p>To help recognize and deal with ethical issues at work.</p> Signup and view all the answers

    Why is it likened to failing to teach a machinist how to operate a machine safely if employees are not helped to recognize the risks in their jobs?

    <p>It poses a danger similar to operating a machine without proper training.</p> Signup and view all the answers

    What does the text define as 'ethics'?

    <p>A code of conduct governing individuals or groups</p> Signup and view all the answers

    How does the text suggest employers handle ethical conduct?

    <p>By focusing on conduct and developing policies for employee activities</p> Signup and view all the answers

    What is the primary emphasis of the text regarding ethics?

    <p>Conduct and ethical standards governing individuals or groups</p> Signup and view all the answers

    Why might there be controversy about teaching ethics, according to the text?

    <p>'Ethics' having multiple definitions</p> Signup and view all the answers

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