Ethical Behavior in the Workplace Quiz

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Questions and Answers

What is the most common ethical issue identified by employees?

  • Insider trading
  • Taking things that don’t belong to you (correct)
  • Saying things you know are not true
  • Exaggerating travel expenses

In the context of the text, what does insider trading involve?

  • Buying or selling stocks by insiders with non-public material information (correct)
  • Using the postage meter at the office for personal letters
  • Exaggerating travel expenses
  • Saying things you know are not true

What category of ethical violations does exaggerating travel expenses belong to?

  • Saying things you know are not true
  • Insider trading
  • Taking things that don’t belong to you (correct)
  • Exaggerating travel expenses

Which of the following best describes the ethical issue of giving a false impression?

<p>Withholding important information to mislead potential customers (A)</p> Signup and view all the answers

What is an example of engaging in a conflict of interest?

<p>A government official using their authority for personal gain (C)</p> Signup and view all the answers

What is the consequence of insider trading?

<p>Distortion of the stock market through unfair advantage (C)</p> Signup and view all the answers

What is the ethical violation described in the text related to taking unfair advantage?

<p>Misleading consumers with complex contracts (A)</p> Signup and view all the answers

Which unethical behavior is linked to taking unfair advantage as per the text?

<p>Divulging proprietary information to a new place of employment (B)</p> Signup and view all the answers

What led to the passing of many current consumer protection laws, as per the text?

<p>Misleading consumers with complex contracts (D)</p> Signup and view all the answers

Which unethical action is highlighted in the text as constituting an ethical violation related to taking unfair advantage?

<p>Abusing power by sexually harassing an employee (A)</p> Signup and view all the answers

Flashcards

Most common ethical issue

Theft; stealing company property or assets.

Insider trading

Using confidential company information to profit in the stock market.

Exaggerating travel expenses

Inflating expenses for personal gain.

Giving a false impression

Omitting key details to deceive customers.

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Conflict of interest

Using one's position for personal benefit.

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Consequence of insider trading

Unfair advantage gained through inside information.

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Taking unfair advantage

Exploiting consumers through confusing agreements.

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Divulging proprietary information

Sharing private company data with a new employer.

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Consumer protection laws origins

Complex contracts that misled consumers led to laws.

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Abusing power

Using authority to harass someone.

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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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