Employees Expect Businesses To

Question: To truly create an ethical culture, managers must ______.

Answer: show a strong commitment to ethics and compliance

Question: An individual’s values, principles, and standards of conduct are referred to as ______.

Answer: personal ethics

Question: Identify the TRUE statement about legal issues in business.

Answer: Many problems in business could be avoided if managers and employees knew more about business law and the legal system.

Question: The Dodd-Frank Act was passed to reform the ______ industry.

Answer: financial

Question: Social responsibility is defined as ______.

Answer: a business’s obligation to maximize its positive impact and minimize its negative impact on society

Question: Which scenario best represents a company with a strong ethical culture?

Answer: The top management at Tom’s company clearly communicate to all employees the ethical behavior that is expected of them.

Question: The legal rules and regulations that govern the conduct of business is referred to as ______.

Answer: business law

Question: ______ is/are principles and standards that determine acceptable conduct in business.

Answer: Business ethics

Question: True or false: Most legal issues arise as choices that society deems unethical, irresponsible or unacceptable.

Answer: True

Question: Which act was passed to reform the financial industry and offer consumers protection against complex and/or deceptive financial products?

Answer: Dodd-Frank