Lwc1 Essay

5737 WordsMay 26, 201423 Pages
------------------------------------------------- LWC1 STUDY PLAN Before beginning this study plan, it is critical that you have access to both textbooks and the SkillSoft Library. All WGU assessments are created using these textbooks, so they will be your primary resources as you move through this work. When you work through this student plan, type in your answers to the questions below and create a study guide using the key terms from each section. You may also consider using the key terms to create flash cards that can be used as you prepare for the exam. ETHICAL ISSUES IN BUSINESS: Chapters 1-4 For each of the chapters do the following: * Look up the answers to the questions asked below. * Answer the end of chapter question (there are only a few) and check your answers. * Complete the interactive quizzes in the COS—make sure to write down the ones you miss so that you can focus on specific topics. Chapter 1: 1. How would you define “business ethics”? comprises the principles and standards that guide behavior in the world of business 2. How has “business ethics” developed over time? In the 1960s it was the rise of social issues, 1970s it became a field of study, 1980s rules of business were changing at a phenomenal rate because of less regulation and consolidation happened. 1990s institutionalization of business ethics: company must develop corporate values, Enforce its own code of ethics, and strive to prevent misconduct. 21st century: Such abuses increased public and political demands to improve ethical standards in business 3. What is involved in developing an ethical culture in an organization? Ethics programs, Codes of ethics, Program responsibility, Communication of ethical standards, Systems to monitor and enforce ethical standards, continuous improvement of ethics programs 4. What are three benefits to business

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