Business Ethics Flashcards
6 cards from real LPC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Business Ethics flashcards as text
What is the primary objective of business ethics in professional practice?
Answer: Creating sustainable value for all stakeholders
Business Ethics aims to create sustainable value for all stakeholders including customers, employees, shareholders, and the community.
Which leadership approach best supports business ethics?
Answer: Collaborative leadership that empowers team members and fosters innovation
Collaborative leadership that empowers team members drives engagement, innovation, and better outcomes.
How should performance be measured in business ethics?
Answer: Using balanced scorecards with multiple key performance indicators
Balanced scorecards with multiple KPIs provide a comprehensive view of performance across financial, customer, process, and learning dimensions.
What risk management principle applies to business ethics?
Answer: Proactively identify, assess, and mitigate risks through a structured framework
Proactive risk management through structured identification, assessment, and mitigation is essential for business continuity.
How does ethical decision-making apply to business ethics?
Answer: All decisions should consider legal compliance, stakeholder impact, and organizational values
Ethical decision-making requires considering legal compliance, stakeholder impact, and alignment with organizational values.
What communication strategy is most effective for business ethics?
Answer: Maintain transparent, timely, and audience-appropriate communication
Transparent, timely, and audience-appropriate communication builds trust and ensures alignment among stakeholders.