Revisions for the 7th edition by Eric D. Yordy, The W. A. Franke College of Business at Northern Arizona University
Law, Ethics, Business: An Introduction
1. Select the best definition of ethics:
a. a fairly clear cut set of guides for decision making.
b. a set of relatively unclear principles regarding what we must do.
c. a set of relatively unclear principles regarding what we should do.
d. religious views about the world.
ANSWER: B PAGE: 1
2. Laws must be static and unyielding in order to provide stability for a society.
ANSWER: B PAGE: 1
3. Choose the statement regarding duty to rescue that is false:
a. There …show more content…
d. Strategic Investment in Stakeholder Issues (SISI)
ANSWER A Page 36
13. Describe the difference between the law and ethics.
ANSWER: Law provides for a set of rules for behavior. When these rules are broken, behavior is punishable. On the other hand, ethics presents a menu of options, perhaps disconnected from laws. Laws are “what a person must do,” and ethics addresses “what a person should do.”
14. From where do ethical preferences originate?
ANSWER: Ethical preferences originate not from legislators or judges, but from an individual’s own critical consciousness.
15. Discuss how multinational corporations can be both a benefit and a detriment to society.
ANSWER: As a benefit, multinational corporations affect what we eat, how we transport ourselves, what our communities look like, and how we take care of ourselves when we get sick. They provide new jobs, pay higher taxes, and produce new or less expensive goods and services. They introduce technology, capital, and skills to their host countries and raise the standard of living. As a detriment, they have been blamed for hastening the collapse of traditional ways of life; for taking advantage of weak and/or corrupt governments in countries where they do business; for addicting the world population to unsustainable technologies while blocking technologies counter to their interests;