Question Questions On Business Ethics - 1305 Words

Question 1- Business Ethics Issue- A Company has developed a new drug which contains small side effects. They have conducted many experiments on this drug and formed a report to keep confidential. The board of directors results that they will continue to market the drug and keep the information within the company, as it will increase profits significantly. Is this ethical behaviour for the company? Rule- Common law tells us that as the directors of the company it is in their duty to act in good faith and avoid any conflict of interest. It is their duty as the directors of the company and in their position to not use the company’s resources where it could potentially cause harm to individual’s external of the company. This business†¦show more content†¦They also need to evaluate whether they are doing the right thing by the law. As the directors of the company they shouldn’t keep the report confidential as it is ethically wrong and possibly could be harmful to the company. Question 2a- Contracts/Offers Issue- Quentin was promised by his father Bill that if he worked every Sunday in the family restaurant, Bill will pay for his first year of university fees. Quentin was faced with many decisions but agree to work every Sunday due to Bill’s promise. He successfully completed his first year at university and now wants to take the year off to travel. Bill is upset and refuses to pay the fees. How should Quentin act on this? Rule- This contract is where Bill (the offeror) has promised Quentin (the offeree) to pay for his university fees. This is a spoken offer between two parties and since they are both are within agreement it therefore becomes a family agreement. The agreement is a conditional offer which means that in order to obtain the agreement, the offeree must fulfil certain requirements of the offeror. Quentin achieved this by working every Sunday in his father restaurant. The language within the agreement that Bill used was very clear and precise, saying he would pay for the entire first year. Application- Quentin should claim to his father that as a part of the conditional offer heShow MoreRelatedQuestions On Business Ethics And Ethics2226 Words   |  9 PagesIntroduction to Business Ethics What Is Ethics? To understand business ethics one must first understand that there is no general definition used to define this ethics related topic. Ethics related topics usually include terms such as morals, principles, ethics and values, which are, in most cases, used interchangeably. However, Asgary and Mitschow (2002) defines ethics as the study of appropriate policies and practices regarding possible controversial issues while offering recommendations forRead MoreQuestions On Business Values And Ethics Essay1111 Words   |  5 Pages NAME: PARKAR FARHAAN ID: 638553 MAJOR: INFORMATION SYSTEMS AND TECHNOLOGY SEMESTER: SPRING SEMESTER 2015 COURSE: BUSINESS VALUES AND ETHICS (BUS4070D) LECTURER: PROF. MICHAEL G.M. KIRUBI, Ph.D. INDIVIDUAL TERM PAPER DUE DATE: 01/04/2015 FIGURES Figure 4.0.1 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Page 6 Figure 5.0.1 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Page 10 TABLES Figure 8.0. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Page 15 Read MoreAnswers to Questions on Business Ethics1194 Words   |  5 Pagesdefinition. ELEVEN The manner in which the financial factors in the bankruptcy are settled. A chapter 7 is essentially complete closure of the business or personal case with a payout of responsibilities to the best of the conditions. Chapter 11 is a reorganization of the finances so as to control when payments are made and who gets what while the business or personal situation is fixed. Chapter 13 is similar to Chapter 11 but there is not requirement to liquidate some of the assets and there areRead MoreBusiness Ethics Test Questions with Answers Essay22425 Words   |  90 PagesSarbanes-Oxley Act addresses the: a. rules of professional responsibility for attorneys. b. codes of ethics for senior financial officers. c. management assessment of internal controls. d. services outside the scope of auditors. Answer: d 29. Which of the following provisions of the Sarbanes-Oxley Act mandates majority of independents on any board and total absence of current or prior business relationships? a. Section 407 b. Section 301 c. Section 406 d. Section 307 Answer: b 30. SectionRead More0 out of 5 points1002 Words   |  5 Pagesthose in the minority. Correct Answer:   Ã‚   It is difficulty to accurately measure both costs and benefits. ï‚ · Question 2 5 out of 5 points Business executives are finding that a trusting, ethical relationship with a business partner is: Answer Selected Answer:   Ã‚   Often essential in conducting business. Correct Answer:   Ã‚   Often essential in conducting business. ï‚ · Question 3 5 out of 5 points At the core of rights reasoning is the belief that: Answer Selected Answer:   Ã‚   RespectingRead MoreAffect of Cultural Values And Personal Ethics in Business Decisions1221 Words   |  5 PagesPersonal, organizational, and cultural values can create a difficult problem when trying to make a business decision that includes all the previously stated. Personal values are what each individual holds dear to them living the types of lives that he or she like and would like to lead. Organizational values are what are best for the company to maintain a good public image and employee guidance. Cultural are set on traditions handed down from generation to generation to preserve a way of livingRead MoreThe Principles Of The Code Of Ethics Of A Company1143 Words   |  5 PagesMarà ­n Grade Level: High School Lesson Title: Introduction to Business Alignment of Goal, Objectives, and Strands Teacher Goal: to introduce business concepts to create social responsibility through a variety of learning activities such as role plays, worksheets, and hands on activities. Objectives: Students will be able to select and justify their top three business principles after teaching them the seven principles of the code of ethics of a company. Students will be able to individually explainRead MoreThe Market System And The Need For Ethics812 Words   |  4 PagesQuestion 1 Discuss the market system and the need for ethics in business and distinguish it from the law and concepts of virtue and morality. The market system relates to the need for ethics in business, due to the fact that the individuals that are pricing and selling goods to individuals that are negotiating with them for the purchase of those goods or services, should ensure that the exchange between these individuals is fair and just. This is distinguished from the law due to the fact that theRead MoreAristole962 Words   |  4 PagesEthics in Aristotle’s Philosophy Ruth Geter AC 504 Ethical Issues in Business and Accounting Unit 2 Assignment July 19, 2016 Aristotle Philosophy Introduction I have chosen Aristotle as my philosopher. â€Å"He was the first to argue that equals should be treated equally, and unequal’s should be treated unequally in proportion to their relevant differences† (Brooks and Dunn, 2014). In today’s society people sometimes lose sight of being ethical and often know what is right but chooses to notRead MoreThe Evolution Of Business Ethics852 Words   |  4 PagesThe Evolution of Business Ethics Tim Bowles OMM-640 Business Ethics and Social Responsibility Dr. Andree Swanson May 17, 2015 Abstract Just as individuals differ, so do their ethical concepts and value arrangements. Personal guidelines or policies for everyday ethical conduct. Like all policies, a code of ethics must be capable of being enforced. Just as if people, corporations and businesses too, have their ethical concepts, systematic science, and a business philosophy they must follow