Answer the following statements true (T) or false (F)
1. The code of ethics of a firm represents the identification and interpretation of what the firm
considers acceptable behavior.
2. A corporate credo is a statement that sets forth the company’s beliefs and responsibilities to
stakeholders.
3. The four ethical values that firms should consider when developing and/or modifying a code
of ethics are integrity, justice, competence, and utility.
4. A code of ethics is valuable to a firm only if the employees believe in the code and the code
has a direct impact on their actions within the firm.
1. TRUE
2. TRUE
3. TRUE
4. TRUE
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The Federal Tort Claims Act creates federal immunity for torts committed by
governmental officials of the United States. a. True b. False
Upon graduating from college, Kathy announced her plans to enter law school the following fall and to marry Rick in December. Kathy's father was afraid that marriage during her first year in law school might cause her to fall behind in her studies or cause her to drop out of school. He called Kathy and promised her $10,000 if she postponed her wedding until after completion of her first year of law school. Kathy agreed and postponed the wedding for a year. Kathy successfully completed her first year of law school, but soon thereafter, Kathy's father died. The administrator of her father's estate claimed she was not entitled to the $10,000 because there was no consideration for her father's promise. If Kathy sues the estate, she will probably be
A. unsuccessful because her father's death terminated the contract. B. successful because there was consideration. C. unsuccessful because her father received no benefit. D. unsuccessful because it was merely fatherly advice not to get married during the first year of law school.
What is "emotional stability"? How is emotional stability related to variables that are important for managers?
What will be an ideal response?
For decentralized decision making to be successful, it should be predicated on a belief that _______.
A) top executives should establish a collegial, collaborative culture in which decisions are made by general consensus on what to do and when. B) strict enforcement of detailed procedures backed by rigorous managerial oversight is necessary because company personnel cannot be counted on to act wisely or keep costs to a bare-bones level. C) decision-making authority should be pushed down to the lowest organizational level capable of making timely, informed, competent decisions. D) most company personnel have neither the time nor the inclination to direct and properly control the work they are performing and that they lack the knowledge and judgment to make wise decisions about how best to do their work. E) lower-level managers and employees should go up the ladder of command for approval on most all strategic and operating issues of much importance.