The Business Case for an Ethical Strategy

question 43

Multiple Choice

The business case for an ethical strategy:

• A) focuses primarily on costs that are difficult to quantify (for example,customer defections and adverse effects on employee productivity)but can often be the most devastating.
• B) emphasizes that pursuing unethical strategies not only damages a company's reputation but can also have costly consequences that are wide-ranging.
• C) starts with numerous ethical rules and guidelines and an environment where employees rely on these rules for moral guidance.
• D) starts with managers who understand there is a big difference between adopting values statements and codes of ethics that serve merely as window dressing and those that truly paint the white lines for a company's actual strategy and business conduct.
• E) begins with ethical guidelines that help send the message that management takes the observance of ethical norms seriously and that behavior falling outside ethical boundaries will have negative consequences.

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Definitions:

Policymaking Process

The sequence of actions and decisions involved in creating and implementing public policies, which include identifying issues, setting agendas, forming and implementing policies.

Domestic Policy

Public policy decisions, actions, and programs that are undertaken within a nation's borders, focusing on issues such as health care, education, and infrastructure.

Government Planning

Activities undertaken by government bodies to set goals, develop strategies, and implement policies to achieve desired outcomes for the public good.

Affordable Care Act

A comprehensive healthcare reform law enacted in 2010 in the United States, aimed at expanding health insurance coverage and reducing healthcare costs.