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When the benefits of an action outweigh its costs the action is considered ethically preferred according to?

When the benefits of an action outweigh its costs, the action is considered ethically preferred according to: Utilitarian reasoning.

Why should business be ethical According to Figure 5.1 Multiple choice 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?

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.

What is the unspoken understanding among employees of what is and is not acceptable behavior called?

Ethical climate

Which type of employee is most likely to report ethical issues in the workplace?

Executives

What is it called when an organization builds ethical safeguards into its daily routines?

Institutionalizing ethics

Which ethical criterion is described by the idea?

Which ethical criterion is described by the idea that a company should strive for efficiency? Egoism.

Which US Act prohibits executives representing US based companies from paying bribes?

U.S. Foreign ¬Corrupt Practices Act

Why should a business be ethical?

Employees make better decisions in less time with business ethics as a guiding principle; this increases productivity and overall employee morale. When employees complete work in a way that is based on honesty and integrity, the whole organization benefits.

What is the meaning of business ethics?

Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities.

What does the Bible say about business ethics?

Leviticus 19:35-36 ESV / 25 helpful votes “You shall do no wrong in judgment, in measures of length or weight or quantity. You shall have just balances, just weights, a just ephah, and a just hin: I am the Lord your God, who brought you out of the land of Egypt.

What are the levels of business ethics?

Ethical standards are classified at three levels.

  • Macro Level. At a macro level, sometimes called the systemic level, ethics are defined and influenced by the wider operating environment in which the company exists.
  • Company Level.
  • Individual Level.
  • Integrated Approach.

What did Enron accounting firm do wrong?

The Enron scandal drew attention to accounting and corporate fraud as its shareholders lost $74 billion in the four years leading up to its bankruptcy, and its employees lost billions in pension benefits.