Question

Block 10 PTS:  

Chapter 4 – The Institutionalization of Business Ethics – Read the chapter thoroughly. Complete the Chapter Questions and Check Your EQ sections on pp. 121-122.

1. Voluntary practices include documented best practices. NO

2. The primary method for resolving business ethics disputes is through the criminal court system. NO

3. The FSGO provides an incentives for organizations to conscientiously develop and implement ethics programs. YES

4. The Sarbanes-Oxley Act encourages CEOs and CFOs to report their financial statements accurately. NO

5. Strategic philanthropy represents a new direction in corporate giving that maximizes the benefit to societal or community needs and related to Business objectives. YES

COURSE: Ethics at work

Answer 1

1. No - Voluntary practices include beliefs, values, and voluntary contractual obligations

2. No - Lawsuits and civil litigation are the primary way in which business ethics disputes are resolved

3. Yes - Well-designed ethics and compliance programs can minimize legal liability when organizational misconduct is detected.

4. No - The Sarbanes-Oxley Act requires CEOs and CFOs to accurately report their financial statements to a federal oversight committee; they must sign the document and are held personally liable for any inaccuracies.

5. Yes - Strategic philanthropy helps both society and the organization.