Business 4500 Study Guide Exam And
Actual Answers.
What is an ethical dilemma? - Answer a situation in which guiding moral principals can not determine
which course of action is right or wrong. (Choosing between two right things)
2. How do you solve an ethical dilemma? - Answer 1) Focus on practical consequences 2) focus on
actions themselves
3. Define values - Answer beliefs that incline us to act or choose in one way rather than another
4. Values drive....? - Answer the choices we make
5. What does the acronym LIBOR stand for? - Answer London Interbank Offered Rate
6. What are morals? - Answer subset of values and are derived from a system of beliefs that come from
outside of the person and are taught to them.
6. Morals ask what question? - Answer how should I live my life
true or false: Morales change and grow overtime - Answer true
How are Morales different from values? - Answer values drive the choices we make and morals ask
how we should live our lives
What is the lowest stage of Kohlberg's stages of moral development? - Answer I do it because it will get
me in trouble
what is the highest stage of Kohlberg's stages of moral development? - Answer I do it because it is right
, 8. What are ethics? - Answer morals in action (the focus is on behaviors and decisions; what a person
does, not what they say they do)
9. Define normative model (prescriptive model) - Answer tells you what you SHOULD do
10. Define business ethics - Answer the study of how personal moral norms YOU apply to the activities
and goals of commercial enterprise
11. The word ethics comes from what Greek word? What does is mean? - Answer Ethos; means
customary or conventional values or the land)
sustainability - Answer meeting the needs of the present without compromising the ability of future
generations to meet their own needs
What is Global Impact? - Answer the worlds leading organizations who have banned together to fight
sustainability issues. (organized by the U.N.)
Name and define the 3 major ethical perspectives - Answer ethical relativism; utilitarian ethics;
deontology
define cultural relativism - Answer what is the norm of the culture
utilitarian ethics is? - Answer justifying the means by the end
another word for utilitarianism is? - Answer Consequentialism
Deontological ethics is defined as? - Answer duty based; there are things that should and should not be
done regardless of the consequences
another name for Deontological is? - Answer universalism or categorical imperative
Actual Answers.
What is an ethical dilemma? - Answer a situation in which guiding moral principals can not determine
which course of action is right or wrong. (Choosing between two right things)
2. How do you solve an ethical dilemma? - Answer 1) Focus on practical consequences 2) focus on
actions themselves
3. Define values - Answer beliefs that incline us to act or choose in one way rather than another
4. Values drive....? - Answer the choices we make
5. What does the acronym LIBOR stand for? - Answer London Interbank Offered Rate
6. What are morals? - Answer subset of values and are derived from a system of beliefs that come from
outside of the person and are taught to them.
6. Morals ask what question? - Answer how should I live my life
true or false: Morales change and grow overtime - Answer true
How are Morales different from values? - Answer values drive the choices we make and morals ask
how we should live our lives
What is the lowest stage of Kohlberg's stages of moral development? - Answer I do it because it will get
me in trouble
what is the highest stage of Kohlberg's stages of moral development? - Answer I do it because it is right
, 8. What are ethics? - Answer morals in action (the focus is on behaviors and decisions; what a person
does, not what they say they do)
9. Define normative model (prescriptive model) - Answer tells you what you SHOULD do
10. Define business ethics - Answer the study of how personal moral norms YOU apply to the activities
and goals of commercial enterprise
11. The word ethics comes from what Greek word? What does is mean? - Answer Ethos; means
customary or conventional values or the land)
sustainability - Answer meeting the needs of the present without compromising the ability of future
generations to meet their own needs
What is Global Impact? - Answer the worlds leading organizations who have banned together to fight
sustainability issues. (organized by the U.N.)
Name and define the 3 major ethical perspectives - Answer ethical relativism; utilitarian ethics;
deontology
define cultural relativism - Answer what is the norm of the culture
utilitarian ethics is? - Answer justifying the means by the end
another word for utilitarianism is? - Answer Consequentialism
Deontological ethics is defined as? - Answer duty based; there are things that should and should not be
done regardless of the consequences
another name for Deontological is? - Answer universalism or categorical imperative
