T/F An ethical dilemma does not arise when a person has to decide between two different courses of action, knowing that whichever course he or she chooses will result in harm to one person or group even while it may benefit another.
False
Laws and ethics are fixed principles.
False
The local communities in which an organization operates are generally not considered to be true stakeholders of the organization.
False
Effective management of diversity is inversely proportional to profitability of the organization.
False
The stakeholder group with the most responsibility for deciding the goals of the organization are:
Managers
They are often regarded as the most critical stakeholder group.
Customers
A person's confidence and faith in another person's goodwill is called:
Trust
It has been said that managing diversity makes good business sense. Do you agree or disagree with this statement? Defend your argument with either pros or cons.
Reputation
List the managerial roles that could be exercised to effectively manage diversity.
Identify and describe the sources of organization's code of ethics.
Societal ethics, Occupational ethic, and Individual ethics
Summarize the reasons why managers should behave ethically.
Relentless pursuit of self-interest can lead to a "tragedy of the commons" if everyone behaves that way.
Describe a question that a manager should ask under the practical rule to decide if a business decision is acceptable on ethical grounds.
. Does my decision fall within the accepted values or standards that typically apply in business activity today?
Why are managers a critically important group of stakeholders?
Managers are a vital stakeholder group because they are responsible for using a company's financial capital and human resources to increase its performance.
Who are "stakeholders"? List at least four examples of different types of stakeholders.
Stakeholders include employees, customers, suppliers, shareholders, suppliers, and the local community.
Describe the relationships between ethics, law, and business.
Neither law nor ethics is a fixed principle - they change over time and vary between societies
