Understanding Business Ethics

What are standards of right and wrong that may vary among countries and cultures referred to as?

What term describes actions that are accepted as right and wrong according to established standards?

What is a situation called where you must decide on an action that might benefit you or your organization but is unethical or illegal?

Which two conflicting value systems might an organization possess?

Which of the following is NOT listed as one of the five most common unethical behaviors at work?

Which ethical approach is guided by what will result in the greatest good for the greatest number of people?

Which ethical approach focuses on decisions that serve the individual's best long-term interests?

Which ethical approach is guided by respect for the fundamental rights shared by all humans?

Which ethical approach adheres to impartial standards of fairness and equity?

Which theory suggests that variations in outcomes are primarily due to initial conditions like expectations, endowments, engagement, or environments?

Which type of control focuses on preventing future problems?

Which type of control involves collecting performance information in real time?

Which type of control uses information about past results to identify and correct problems?

What is the management philosophy where everyone in the organization is concerned about quality to better serve customer needs?

Which set of ethical procedures must a company adhere to, but does NOT specifically include environmental standards?

Which standard extends the ISO 9000 concept by identifying standards specifically for environmental management?

Which of the following is NOT one of the four key developmental processes mentioned?

What tool harnesses multiple internal and external performance metrics to balance financial and strategic goals during strategy implementation?

Which of the following is NOT one of the four perspectives typically included in a Balance Scorecard?

Which of the following is NOT listed as one of the four primary growth strategies?

What are the two primary approaches mentioned for managing cooperative strategies?

What is the term for a firm's goal of producing a specific quantity of output at the minimum possible cost?

Which approach to managing cooperative strategies aims to maximize value-creating opportunities through sharing ideas and resources, often using less formal contracts?

Which sequence correctly orders the three kinds of change from least to most threatening?

What are the three main stages in Lewin's Change Model for the individual, before the feedback loop?

What are the three main stages in Lewin's Change Model as applied to organizational development, before the feedback loop?

According to the definition provided, what must happen for a product to be considered truly innovative?

What term refers to the standards a company abides by?

What term describes the series of steps it takes to develop a code of values?

What is a method for a company to form a strategic alliance with a foreign company to share risks and rewards when starting a new business abroad?

What is formed when firms combine some of their resources for the purpose of creating a competitive advantage?

What type of business relationship uses a contract to describe and control the sharing of resources between a firm and its partners (franchisees)?

What arrangement allows a foreign company to pay a fee to make and sell another company's products or services?

What is the term for the trend of the world economy becoming a more interdependent system?

Which factor is cited as a primary driver for the rise of globalization?

What term describes the perceived 'shrinking' of time and space due to easier global communication via air travel and electronic media?

What is the buying and selling of goods and services over the internet called?

What term describes the belief in the superiority of one's own nation or ethnic group?

What management belief holds that managers in the host country know the best business approaches for that specific location?

What management belief suggests that the best approaches vary depending on the specific situation and that valuable ideas can come from both home and host countries?

What term describes international trade that occurs without government interference like tariffs or quotas?

What are national policies designed to restrict international trade, often to protect domestic industries?

Which international organization is designed to monitor and enforce trade agreements between nations?

Which international institution offers low-interest loans, advice, and information primarily to developing nations?

What is a group of neighboring countries that promote trade among themselves and erect barriers to limit trade with other groups called?

In which type of culture are shared meanings primarily derived from written and spoken words?

In which type of culture do people rely heavily on situational cues and non-verbal communication for meaning?

What term refers to the people whose interests are affected by an organization's activities?

Which of the following is NOT one of the three organizational environments where stakeholders exist?

What concept describes a manager's duty regarding ethics and the organization's broader obligations to society?

What is the process by which a company compares its performance with that of high-performing organizations?

What is a time-ordered diagram used to determine whether observed variations in a process are abnormal?

Which of the following is the correct sequence for the steps in the control process?

What is the desired performance level for a given goal referred to in the control process?

Which management philosophy proposed ideas for making organizations more responsive, democratic, and less wasteful?

What calculations are typically used to track a business's liquidity, efficiency, and profitability over time and compared to industry peers?

What budgeting method involves adding new funds onto the amount budgeted in the previous period?

What occurs when a firm owns or controls the inputs it uses (backward integration) or the channels through which it distributes its products (forward integration)?

What is the ability of a single economic actor (or small group) to have a substantial influence on market prices?

What situation occurs when a firm's long-run average costs rise as it increases output?

What term describes the proportionate saving in costs gained by an increased level of production?

Which type of strategy emphasizes both new products and new markets to achieve growth?

What type of growth is achieved through the expansion of a company's current business activities, rather than through mergers or acquisitions?

Which growth strategy involves entering a new business that lacks any common elements (like technology, markets, or products) with the company's present business?

What is a complex form of bartering involving several countries, each trading goods or services for other goods or services?

What is the ability to interact effectively and appropriately with people from different language and cultural backgrounds?

What is the practice of selling products in a foreign country at prices lower than those charged in the producing country called?

What is an official ban on trade or other commercial activity with a particular country?

What term describes the measure of how much one currency is worth in relation to another?

What is the term for a professional or skilled worker who works and resides in a foreign country?

What is the term for the forced transfer of assets from a company to the government, usually with compensation?

Which US law prohibits corporations from making illegal payments to public officials of foreign governments to secure business advantages?

What is the practice of using suppliers outside the home country (e.g., outside the US) to provide labor, goods, or services called?

What ongoing cross-cultural investigation studies nine cultural dimensions related to leadership and organizational processes?

What type of foreign direct investment involves establishing a foreign subsidiary by building an entirely new operation in a foreign country?

Which cultural model, developed by Geert Hofstede, initially identified four dimensions: power distance, uncertainty avoidance, individualism vs. collectivism, and masculinity vs. femininity?

What term refers to the standards of right and wrong, which may vary among countries and cultures?

What are actions that are accepted as right and wrong according to established standards called?

What is a situation called where one must decide on a course of action that might be beneficial but is unethical or illegal?

Which two conflicting value systems might an organization commonly possess?

Which of the following is NOT listed as one of the five most common unethical behaviors at work?

Which ethical approach is guided by what will result in the greatest good for the greatest number of people?

Which ethical approach is guided by what will result in the individual's best long-term interests?

Which ethical approach is guided by respect for the fundamental rights shared by everyone?

Which ethical approach is guided by respect for impartial standards of fairness and equity?

Which type of control focuses on preventing future issues?

Which type of control entails collecting performance information in real time?

Which type of control uses information about past results to identify and fix issues?

What is the philosophy where everyone in the organization is concerned about quality to better serve customer needs?

Which standard outlines ethical procedures a company must adhere to, but specifically excludes environmental standards?

Which standard extends the ISO 9000 concept by specifically identifying standards for environmental management?

What is a strategy implementation tool that uses multiple internal and external metrics to balance financial and strategic goals?

Which of the following is NOT one of the four perspectives typically included in a Balance Scorecard?

What cooperative strategy focuses primarily on producing a specific quantity of output at the minimum possible cost?

What cooperative strategy is intended to maximize value-creating opportunities by sharing ideas and resources, often based on trust and transparency?

Which type of organizational change is considered the least threatening?

According to Lewin's Change Model for the individual, what are the three stages of change?

For a product to be considered truly innovative in a business context, what must typically happen?

What term describes the standards a company officially abides by?

What type of strategic alliance involves forming a partnership with a foreign company to share risks and rewards when starting a new business in that country?

What is it called when firms combine some of their resources to create a competitive advantage?

What business arrangement uses a contract relationship to describe and control the sharing of resources with partners (franchisees)?

What arrangement allows a foreign company to pay a fee to make and sell another company's products or services?

What term describes the trend of the world economy toward becoming a more interdependent system?

Which concept refers to the 'shrinking' of time and space due to easier global communication and travel?

What is the term for the buying and selling of goods and services over the internet?

What is the belief in the superiority of one's own nation or ethnic group called?

What attitude reflects the belief that managers in the host country know the best approaches for running operations there?

What attitude recognizes that both home and foreign countries have valid ideas and the best approach varies based on the situation?

What term describes international trade that is free of government interference?

What are national policies designed to restrict international trade, often to protect domestic businesses?

Which international organization is designed to monitor and enforce trade agreements?

Which international institution offers low-interest loans, advice, and information to developing nations?

What is a group of neighboring countries that promote trade among themselves and erect barriers to limit trade with others called?

In which type of culture are shared meanings primarily derived from written and spoken words?

In which type of culture do people rely heavily on situational cues for meaning when communicating?

What term refers to the people whose interests are affected by an organization's activities?

What is the manager's duty concerning ethics and corporate social responsibility often referred to as?

What is the process by which a company compares its performance with that of high-performing organizations?

What is a time-ordered diagram used to determine whether observed variations in a process are abnormal?

What is the desired performance level for a given goal called in a control system?

What term describes calculations used to track a business's liquidity, efficiency, and profitability over time?

What budgeting method involves adding new funds onto the amount previously budgeted?

Selling products in a foreign country at prices lower than those charged in the producing country is known as?

What is an official ban on trade or other commercial activity with a particular country called?

What is the measure of how much one currency is worth in relation to another?

What term describes a migrant worker who is a professional or skilled worker in their profession?

What is the forced transfer of assets from a company to the government, typically with compensation, called?

Which US law prohibits making illegal payments to foreign public officials to obtain or retain business?

What is the practice of using suppliers outside the US to provide labor, goods, or services called?

What type of international expansion involves establishing a foreign subsidiary by building an entirely new operation in a foreign country?