BUSI 3341- Fall 2022

Final Review

The Final exam will consist of questions from this review.

Chapter 10: Changing Work Environments and Future Trends 

1. Some companies, like Facebook, have opted for ________ in lieu of traditional office
spaces. 
A. cubicles 
B. workplace campuses
C. telecommuting exclusively 
D. minimalist offices 
 
 
2. Which of the following are benefits of job sharing? (Select all that apply.) 
A. Work can suffer because of limited time. 
B. Work can be passed off at intervals. 
C. Job sharers can collaborate well.
D. The practice works in all fields. 
 

3. ________ is the practice of offering flexible hours. 

A. Job sharing 
B. Gig economy 
C. Access economy 
D. Flex time
 
 
4. Which type(s) of workers are more likely to take advantage of flexible work policies?
(Select all that apply.) 
A. accountants outside of tax season
B. persons operating heavy equipment 
C. workers with family duties
D. managers with supervisory skills 
 
5. Which of the following is the best example of a bias against work start-time flexibility, or
flextime? 
A. Managers view late starters as more motivated. 
B. Managers must supervise those who work 9 am to 5 pm more. 
C. Managers view early starters as more motivated.
D. Managers view flextime employees as more independent. 
 6. True or false? Companies should have written policies for telecommuting employees that
specify communications expectations. 
 
 
7. True or false? Collaborative business models have reinvigorated traditional employment. 
 
 
8. True or false? Most companies would prefer to have all workers on-site in campus-like
facilities. 
 

Short Answer 
 
9. Why do some employees prefer telecommuting? 
 
10. What are benefits and detractors of workplace campuses? Provide some examples.  

Chapter 9: Professions under the Microscope 

 
 
1. Which of the following does an entrepreneur typically need to be willing to do to start a
business? 
A. Delegate the risk to start a company. 
B. Self-finance the new company. 
C. Select a product or service that will be sustainable. 
D. Hire a board of directors to manage the business. 
 

2. How can entrepreneurs best ensure their customer-service vision is passed on to

employees?  
A. Order it to happen through policies and procedures.  
B. Make sure that longstanding employees know it. 
C. Provide training to all employees.
D. Hire employees with advanced training. 
 
 
3. What are some ethical concerns about advertising? (Select all that apply.) 
A. People do not need some of the promoted products or services.
B. Some ads exaggerate or distort what goods or services deliver.
C. Some ads explain all product attributes completely truthfully. 
D. Some people need guidance on purchasing products or services. 
 
 
 4. Why is a social media presence a “must”? (Select all that apply.) 
A. The Internet is not an influential cultural factor. 
B. Social media platforms symbolize wealth.  
C. It drives brand awareness and revenue.
D. It could influence new purchasing decisions.
 

5. The practice of redlining is best described as which of the following? 

A. assigning particular premiums for insurance policies 
B. denying particular premiums for insurance policies 
C. assigning or denying coverage for certain policies* 
D. assigning or denying indemnification for insurance 
 
 
True/False 
 
6. True or false? An entrepreneur must establish and be a member of the board of directors
involved in starting a company. 
7. True or false? In some cases, start-up founders can achieve “rock star status.” 
 
8. True or false? All start-up companies must maintain the same product/service, approach,
and team to be successful. 
 
9. True or false? The Affordable Care Act is an example of redlining. 

Short Answer 

10. Why is it the responsibility of a founder to establish an ethical business culture, and how
is this done? 

Chapter 8: Recognizing and Respecting the Rights of All 

 
Multiple Choice/Fill in the Blank 
 
1. To achieve a greater degree of diversity in the workplace, managers’ goals should
encompass which of the following? 
A. ethics 
B. sustainability  
C. inclusion 
D. accommodation 
 

 
2. Which of the following are factors included when applying a legal definition of diversity?
(Select all that apply.) 
A. social status 
B. religious beliefs
C. gender
D. physical abilities
 
 
3. If a person has a disability (i.e., a physical or mental impairment) that reduces
participation in “a major life activity,” such as work, an employer is obliged to provide
________. 
A. compassion 
B. reasonable accommodations 
C. sympathy 
D. selective training 
 
 
Short Answer 
 
4. Explain some benefits of employee diversity in the workplace. 

 
5. Distinguish between diversity and inclusion.  

Chapter 7: What Employees Owe Employers 

 
Multiple Choice/Fill in the Blank 
 
1. When an employee has extensive authority or access to confidential information, a legal
duty (under law or regulation) that rises to a highest level and is owed by that employee to the
employer or clients is which of the following? 
A. duty of confidentiality 
B. fiduciary duty
C. legal duty 
D. duty of loyalty 
 
 
2. According to PayScale’s Compensation Best Practices Report, which are the two leading
motivators (in order by first and second leading motivator) that employees give for leaving their
job? 
A. first: personal reasons; second: higher pay 
B. first: higher pay; second: personal reasons 
C. first: a retirement plan; second: benefits 
D. first: benefits; second: a retirement plan 
 
 
3. Which generation is most likely to change jobs four times within the first ten years of
their career? 
A. Gen Z 
B. millennials
C. baby boomers 
D. Gen X 
 
 
4. In the new “gig” economy, people who work for themselves are known as which of the
following? 
A. freelance workers
B. employees 
C. subordinates 
D. at-will employees 
 
5. True or false? Companies do not have a right to insist that their employees, including
managers, engage in ethical decision-making. 

6. True or false? The First Amendment protects employees at work who criticize their boss
or their company. 
Short Answer 
 
1. Explain the requirements of an employee’s duty of loyalty under common law rules.  
 
2. Are millennials more or less loyal than previous generations? How is loyalty typically
defined?  

Chapter 6: What Employers Owe Employees 

 
Multiple Choice/Fill in the Blank 
 
 
1. The economic concept of ________ is critical to the nation as a whole in an economic
system like capitalism, in which individuals pay for most of what they need in life rather
than receiving government benefits funded by taxes. 
A. the Paycheck Fairness Act 
B. a federal wage standard  
C. a fair wage
D. a nominal wage 

 
2. Which laws give workers the option of not joining the union, even at companies where
the majority has voted to be represented by a union? 
A. right-to-work laws 
B. closed-shop laws 
C. consent-exception laws 
D. union-shop laws 
 

3. The United States has shifted from a ________ economy to a ________ economy over
the past three decades. 
A. service; manufacturing 
B. minimum wage; fair wage 
C. public-sector; private-sector 
D. manufacturing; service
 

Short Answer 
 
4. Summarize an employer’s duty to provide a safe workplace, and the penalties for
violators who do not. 
 
5. Is workplace harassment still a major issue? If so, what types of harassment are most
prevalent today, compared with thirty years ago? 

Chapter 5: The Impact of Culture and Time on Business Ethics 

1. Which of the following major historical periods did not shape business ethics? 
A. the Middle Ages
B. the age of mercantilism 
C. the Information Age 
D. the age of economic globalization 
 
2. When corruption takes place, at which basic level is it a matter of conscience? 
A. individual
B. organizational 
C. managerial 
D. societal 
 
3. Which of the following definitions best describes mercantilism? 
A. a lifestyle characterized by the acquisition of goods and services 
B. the view that wealth creation is the key to economic growth and prosperity 
C. the theory that prosperity depends on extracting wealth or accumulating it from others* 
D. the theory that without a relationship, there can be no exchange of goods or services  
 
True/False 
 
3. True or false? “Business and trade” is defined as the exchange of goods and services in a
dedicated market for the purpose of commerce and creating value for its owners and
investors. 
4. True or false? Religion’s role in business is less certain today; we are perhaps more likely
to see a universal, secular code of ethics develop than to see religion serve as common
ground for different cultures to come together. 
 5. True or false? Even in business, ethics is not about human morality but rather about
human consumption. 

Chapter 1:
Short Answer 
 
1. Provide five examples of stakeholders. 
2. What motivated Mark Faris to be a white-collar criminal? How does he think such crimes
could be addressed?  
 
3. How are stockholders also stakeholders? Explain your answer.  

4. What is compliance, and how is does it operate?  

Chapter 2: Ethics from Antiquity to the Present 

  
Multiple Choice/Fill in the Blank 
 
1. Ethics are the ________ to which we hold ourselves accountable in our professional and
personal lives.  
A. high-level manners 
B. standards of behavior
C. utmost conduct  
D. challenges in decision-making 
 
 
2. As a form of philosophy, ethics was a major focus of ancient Athens leaders, including
Aristotle, Socrates, and ________. 
A. Pythagoras 
B. Plato 
C. Parmenides 
D. Hippocrates 
 
 
3. Which of the following best exemplifies what Ancient Athenian ethicists believed? 
A. Ethics applies solely to business decision-making. 
B. Ethics is about what someone does. 
C. Ethics is the guiding principle for dealing with others. 
D. Ethics does not apply to the commerce and money. 

 
4. Virtue ethics is an ethical system based on the exercise of which virtues?  
A. courage, decorum, and accountability 
B. courage, honor, and loyalty
C. conscientiousness, honor, and accountability 
D. courage, decency, and leadership 
 
Short Answer 
 
5. Explain how ethics and law can be both the same and different.  
 
6. What is the relationship between law and ethics? Provide at least two contemporary
business examples of how an act can be legal yet unethical.  

Chapter 3: Defining and Prioritizing Stakeholders 

 
 
Multiple Choice/Fill in the Blank 
 
1. Which of the following are Starbucks’ stakeholders? (Select all that apply.) 
A. milk producers
B. urban and suburban communities
C. coffee and tea growers
D. plastic-cover manufacturers  
 
 
2. Which are some types of stakeholder relationships that a local chamber of commerce
would have? (Select all that apply.) 
A. minority- and women-owned small business owners
B. local and regional governments
C. environmental agencies 
D. pet owners 
 
3. Which of the following is considered the most important internal stakeholder of a
corporation? 
A. marketing directors 
B. board of directors
C. executive management 
D. governmental affairs office  
 

4. Define and explain an indirect stakeholder claim.  

Chapter 4: Three Special Stakeholders: Society, the Environment, and Government 

  
 
Multiple Choice/Fill in the Blank 
 
1. Corporate law enables businesses to take advantage of a legal structure that ________. 
A. shields owners from publicity 
B. gives the corporate entity protection from all liability 
C. separates liability from ownership and control 
D. means the corporation is only liable in the state where its headquarters is located 
 

2. What level of government regulates intrastate air pollution? 

A. local 
B. federal 
C. state 
D. county 
 
3. Results of a recent study indicate corporations benefit from following Corporate Social
Responsibility (CSR) policies in multiple ways. These benefits can add value to a
business and are collectively called a(n) ________. 
A. “halo effect”
B. “revolving door” effect 
C. economic benefit 
D. legal duty 
 
4. A “moral minimum” means which of the following? 
A. promising to earn less profit per share 
B. applying U.S. law regarding child labor globally 
C. actions a firm undertakes to satisfy the base threshold for acting ethically
D. committing to having 50 percent of board seats held by women or minorities 
 
 
5. The relationship between a trustee of an estate and its beneficiary or between a fund
manager and client are examples of relationships that include what responsibility? 
A. fiduciary duty 
B. duty of public communication  
C. external codes of conduct 
D. common law conflict 
 

True/False 
 
 6. True or false? The concept of limited liability means the owners of corporations are
protected by laws stating that, in most circumstances, their losses in case of business
failure cannot exceed the amount they paid for their shares of ownership.  
 
7. True or false? In the case of Dodge v. Ford Motor Company, Henry Ford said he believed
his company was sufficiently profitable to allow it to consider its social responsibility to
engage in activities to benefit the public, including its workers and customers.  
 
8. True or false? Corporate shareholders, directors, and the company’s officers may all
benefit from limited liability. 
 
Short Answer 
 
9. Explain the basic governance structure of a corporation (i.e., the interrelationship of
shareholders, officers, and directors). 
Sample Answer: Shareholders are the owners of corporations. The shareholders elect directors.
The directors, in turn, hire the officers, who manage the daily operations of the corporation.  
 
 
10. Explain the doctrine known as the business judgment rule.  
 
11. What is the theoretical basis of the earth jurisprudence doctrine? Explain.