Ethics in Business

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Questions and Answers

Why is it important to learn ethics in business?

  • To obey the laws
  • To build a good reputation (correct)
  • To promote groundless suits
  • To support the Constitution

What must be done after drawing up a company's code of ethical conduct?

  • Ignore it
  • Hide it from employees
  • Communicate and adhere to it (correct)
  • Modify it frequently

Who must adhere to the company's code of ethical conduct?

  • Corporate officers and employees (correct)
  • Only entry-level employees
  • Only top-level executives
  • No one

What does the lawyer's oath require them to do?

<p>Maintain allegiance to the Republic of the Philippines (C)</p> Signup and view all the answers

What can ruin a reputation in just five minutes, according to Warren Buffet?

<p>Unethical act (B)</p> Signup and view all the answers

According to Warren Buffet, how long does it take to build a reputation?

<p>Two years (D)</p> Signup and view all the answers

Who can be affected by an unethical act in the workplace?

<p>The entire business and its reputation (C)</p> Signup and view all the answers

What is the purpose of establishing and applying business ethics in the workplace?

<p>To maintain the reputation of the business (C)</p> Signup and view all the answers

What must be done after drawing up a company's code of ethical conduct?

<p>The code must be communicated and adhered to (C)</p> Signup and view all the answers

Who is required to adhere to the company's code of ethical conduct?

<p>All corporate officers and employees, regardless of position (D)</p> Signup and view all the answers

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