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Questions and Answers
What is the most common ethical issue identified by employees?
In the context of the text, what does insider trading involve?
What category of ethical violations does exaggerating travel expenses belong to?
Which of the following best describes the ethical issue of giving a false impression?
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What is an example of engaging in a conflict of interest?
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What is the consequence of insider trading?
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What is the ethical violation described in the text related to taking unfair advantage?
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Which unethical behavior is linked to taking unfair advantage as per the text?
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What led to the passing of many current consumer protection laws, as per the text?
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Which unethical action is highlighted in the text as constituting an ethical violation related to taking unfair advantage?
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Study Notes
Common Ethical Issues
- The most prevalent ethical issue recognized by employees is dishonesty in the workplace.
- Common examples include lying about work hours, misrepresenting skills, or providing false information about services.
Insider Trading
- Insider trading refers to the illegal practice of trading stocks or securities based on non-public, material information about a company.
Exaggerating Travel Expenses
- Exaggerating travel expenses falls under the category of fraud, as it involves deceitful actions to gain financial benefits unjustly.
False Impression
- Giving a false impression is best described as misleading others either through misinformation or by omitting key details, creating a false narrative.
Conflict of Interest
- An example of conflict of interest involves an employee making decisions that benefit a personal relationship or financial interest rather than the organization.
Consequences of Insider Trading
- The consequences of insider trading can include severe legal penalties, including hefty fines and imprisonment for guilty parties.
Taking Unfair Advantage
- The ethical violation related to taking unfair advantage typically encompasses exploiting confidential information or leveraging one’s position for personal gain.
Unethical Behavior and Unfair Advantage
- Insider trading is linked to taking unfair advantage, as it occurs when individuals capitalize on privileged information to benefit financially.
Consumer Protection Laws
- Many current consumer protection laws were enacted as a direct response to corporate scandals and unethical practices that harmed consumers.
Specific Ethical Violations
- Highlighted unethical actions constituting ethical violations related to unfair advantage include misleading customers regarding prices or product effectiveness.
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Description
Test your knowledge of ethical behavior in the workplace with this quiz. Explore scenarios involving truthfulness, accountability, and integrity in professional interactions.
