C717 BUSINESS ETHICS QUESTIONS AND VERIFIED
ANSWERS
Why Study Business Ethics? - Answers - to help you do ethics and be ethical
What are a company's core values? - Answers - Beliefs and principles that provide the
ultimate guide in its decision making
In What Year did Congress pass the Sarbanes-Oxley Act - Answers - 2002
What is the Sarbanes-Oxley Act - Answers - law to address the wave of corporate and
accounting scandals
Section 406 of the Sarbanes-Oxley Act - Answers - Code of Ethics for Senior Financial
Officers, requires corporations to have a code of ethics applicable to its principal
financial officer and comptroller or principal accounting officer, or persons performing
similar functions
Code of Ethics (of the Sarbanes-Oxley Act) must include 3 standards: - Answers - 1.
honest and ethical conduct, including the ethical handling of actual or apparent conflicts
of interest between personal and professional relationships
2. full, fair, accurate, timely, and understandable closure in the periodic reports required
to be filled by the issuer; and
3. compliance with applicable governmental rules and regulations
Core Values - Answers - beliefs and principles that provide the ultimate guide in its
decision making
Business Ethics - Answers - 1. refers to those values, standards, and principles that
operate within business
2. refers to an academic discipline that not only studies those standards, values, and
principles, but also seeks to articulate and defend those that ought to or should operate
in business
The word ethics is derived from which greek word - Answers - ethos, meaning
customary or conventional
What is the difference between ethos and ethics - Answers - what IS valued and what
OUGHT to be valued
Philosophical Ethics - Answers - distinguishes what people DO value from what people
SHOULD value
, morality - Answers - how each of us should live our lives
virtues - Answers - character traits
Why is studying ethics relevant to Business? - Answers - it is essential to living a
responsible and meaningful life
What are the three components of the goal of Business Ethics? - Answers - 1.
understanding ethical issues
2. analyzing ethical issues
3. becoming sensitive to the importance of ethics
What are the challenges of living an ethical life - Answers - deciding how to act, who to
be, and how to live
Steps to making a responsible decision - Answers - 1. Knowing and understanding the
facts
2. Identifying the ethical issues involved
3. Identifying all stakeholders (Identify the people that might be affected by the situation)
4. Understanding how those stakeholders will be affected(understand how they might
be affected)
5. Employing Moral Imagination to understand alternatives (Consider alternative
courses of action)
6. Consider how others will judge your decision (Step back and decide how the public
will react)
7. Making a decision and monitoring and learning from the results
Social Ethics - Answers - questions of public policy, law, civic virtue, and political
philosophy
Relativism - Answers - a theory that knowledge is relative to the limited nature of the
mind and the conditions of knowingb : a view that ethical truths depend on the
individuals and groups holding them
Virtue ethics reminds one to look to the actual practices one finds in the business world
and ask? - Answers - what type of people are being created by these peactices
Principles, practices, obligations, deserved recompense, and duties are concepts that
are the heart of (which type of ethics)? - Answers - Principle based ethics
Identify the intellectual capacities for achieving the goals of business ethics - Answers -
1. a finely tuned set of analytical skills to evaluate ethical issues
2. A better understanding of ethical issues
3. a refined sensitivity to appreciate the significance of leading an ethical life
ANSWERS
Why Study Business Ethics? - Answers - to help you do ethics and be ethical
What are a company's core values? - Answers - Beliefs and principles that provide the
ultimate guide in its decision making
In What Year did Congress pass the Sarbanes-Oxley Act - Answers - 2002
What is the Sarbanes-Oxley Act - Answers - law to address the wave of corporate and
accounting scandals
Section 406 of the Sarbanes-Oxley Act - Answers - Code of Ethics for Senior Financial
Officers, requires corporations to have a code of ethics applicable to its principal
financial officer and comptroller or principal accounting officer, or persons performing
similar functions
Code of Ethics (of the Sarbanes-Oxley Act) must include 3 standards: - Answers - 1.
honest and ethical conduct, including the ethical handling of actual or apparent conflicts
of interest between personal and professional relationships
2. full, fair, accurate, timely, and understandable closure in the periodic reports required
to be filled by the issuer; and
3. compliance with applicable governmental rules and regulations
Core Values - Answers - beliefs and principles that provide the ultimate guide in its
decision making
Business Ethics - Answers - 1. refers to those values, standards, and principles that
operate within business
2. refers to an academic discipline that not only studies those standards, values, and
principles, but also seeks to articulate and defend those that ought to or should operate
in business
The word ethics is derived from which greek word - Answers - ethos, meaning
customary or conventional
What is the difference between ethos and ethics - Answers - what IS valued and what
OUGHT to be valued
Philosophical Ethics - Answers - distinguishes what people DO value from what people
SHOULD value
, morality - Answers - how each of us should live our lives
virtues - Answers - character traits
Why is studying ethics relevant to Business? - Answers - it is essential to living a
responsible and meaningful life
What are the three components of the goal of Business Ethics? - Answers - 1.
understanding ethical issues
2. analyzing ethical issues
3. becoming sensitive to the importance of ethics
What are the challenges of living an ethical life - Answers - deciding how to act, who to
be, and how to live
Steps to making a responsible decision - Answers - 1. Knowing and understanding the
facts
2. Identifying the ethical issues involved
3. Identifying all stakeholders (Identify the people that might be affected by the situation)
4. Understanding how those stakeholders will be affected(understand how they might
be affected)
5. Employing Moral Imagination to understand alternatives (Consider alternative
courses of action)
6. Consider how others will judge your decision (Step back and decide how the public
will react)
7. Making a decision and monitoring and learning from the results
Social Ethics - Answers - questions of public policy, law, civic virtue, and political
philosophy
Relativism - Answers - a theory that knowledge is relative to the limited nature of the
mind and the conditions of knowingb : a view that ethical truths depend on the
individuals and groups holding them
Virtue ethics reminds one to look to the actual practices one finds in the business world
and ask? - Answers - what type of people are being created by these peactices
Principles, practices, obligations, deserved recompense, and duties are concepts that
are the heart of (which type of ethics)? - Answers - Principle based ethics
Identify the intellectual capacities for achieving the goals of business ethics - Answers -
1. a finely tuned set of analytical skills to evaluate ethical issues
2. A better understanding of ethical issues
3. a refined sensitivity to appreciate the significance of leading an ethical life
