Business ethics chapter 5 quizlet

Why should business be ethical, according to Figure 5.1? Most people want to act in ways that are consistent with their own sense of right and wrong.
Ethical behavior protects business firms from abuse by unethical employees and competitors.
Society's stakeholders expect it from businesses.

Are business activities based on moral principles and values?

Moral principles and values applied to social behavior

Although similar, Business Activities tend to involve more complex ethical issues than personal activities

These decisions involve "right or wrong" behavior based on moral and ethical principles

Moral principles and values applied to situations that arise in a business setting

The study of business ethics is concerned with the purposes of a business and how that business achieves those purposes

T or F Ethics is as well defined as the law

T or F Originally, the only goal or duty of a corporation was to maximize profits

An overemphasis on long-run profit maximization is the most common reason that ethical problems occur in business

T or F The study of business ethics is concerned with the purposes of a business and how that business achieves those purposes