LEG 500 Week 11 Final Exam – Strayer NEW

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Chapters 1 Through 9

LAW & ETHICS IN THE BUSINESS ENVIRONMENT

CHAPTER 1

Law, Ethics, Business:  An Introduction

Questions

1.      Select the best definition of ethics:

1. a set of rules for behavior. 
2. a menu of options regarding what we must do.
3. a menu of options regarding what we should do.
4. standards that must be met to avoid penalty. 

2.      Laws must be static and unyielding in order to provide stability for a society.

a.       True

b.      False

3.      Choose the statement regarding duty to rescue that is false:

1. There is no general duty to rescue an individual. 
2. Individual freedom of dictates that a person should not be forced to act. 
3. Under a liberal–communitarian approach, citizens owe a duty to the state to rescue other citizens.
4. When one taunts another person who then puts themselves in danger in response to the teasing, the teaser has a duty to rescue the person teased. 

4.      All of the following are considered exceptions to the general rule that there is no duty to rescue except:

a.       Pre-existing duty:  For example, lifeguards have signed contracts agreeing to rescue people in exchange for pay and benefits.

b.      Witnessing an accident: This creates a duty to step in and help the injured.

c.       Employer: A duty exists to help an employee injured while working for that employer.

d.      Endangerment: If one puts another in danger, they are obligated to rescue the person put in danger.

5.      Which of the following views would be consistent with the free market ethics approach advocated by Milton Friedman?

1. Outsourcing to other countries is wrong because it is detrimental to the overall US economy.
2. When making decisions, corporate managers should consider the interests of all the corporation’s stakeholders.
3. The only social responsibility of business is to increase profits in a legal and ethical manner.
4. Automating processes and replacing workers is unethical since it does not serve a greater good.

6.      Which of the following statements best illustrates the view of “utilitarianism”?

                            I.            From each according to his abilities, to each according to his needs.

                         II.            The risk reasonably to be perceived defines the duty to be obeyed and risks imports relation; it is risk to another or to others within the range of apprehension.

                      III.            An action is right when maximizing welfare and total well-being.

                      IV.            Individuals should pursue his or her own self-interest, even at the expense of others.

1. I only
2. III only
3. I and II
4. I, II, and III

7.      According to deontological thinker Kant:

                            I.            It is only acceptable to lie when done to protect an innocent person.

                         II.            The level of respect owed to another is based on one’s relationship to that person.

                      III.            It is wrong to use another person unless mutual benefit is attached.

                      IV.            Once chosen, actions will be repeated whenever the same situation arises.

a.   I and III

b.   II and IV

c.   III and IV

d.   I, III, and IV

8.      Virtue ethics:

a.       focuses on what human beings are capable of being.

b.      develop from learning how to make choices in difficult situations.

c.       accepts that individuals rarely reach moral excellence.

d.      are based on the concept that a person’s ethical beliefs are developed in childhood and do not change. 

9.      The Ethic of Care is:

a.       A set of rules that explain how to prioritize those people affected by a decision so that a utilitarian analysis can be done successfully.

b.      A set of universal principles, which applied evenly to all decisions will result in fairness and equity in ethical decisions.

c.       The idea that we should all make decisions under the assumption that we don’t know our station in life, that we could be the person most negatively impacted by the decision.

d.      A set of principles that encourage decision makers to look at human relationships as a primary motivator for a decision. 

10.  Assuming a business ethical dilemma, which statement best illustrates Gilligan approach suggested in her theory of “The Ethics of Care”? 

1. individual rights and justice for all
2. applies only to women and not men
3. care and responsibility to others
4. obedience to independent moral rules or duties

11.  Which of the following statements is INCORRECT regarding the rights of shareholders?

                               I.            voting power on major issues and ownership in a portion of the company

                            II.            right to transfer ownership and dividend entitlement

                         III.            hire and fire management and select and appoint a chief executive

1. I and II