Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. They should display behavior that is honest and fair in their relationships with co-workers and their. Multiple choice question. Multiple choice question. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. corporate social responsibility, Corporate social responsibility is when businesses are concerned U.S. companies tend to overlook and forget human rights abuses abroad. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. To allow whistleblowers to come forward with information organizations should decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. A business should be managed ethically because, businesses with good reputations attract customers. Ethical behavior has significant upfront costs which may never be recovered. moral impropriety. <br> I believe AI should be built responsibly and produce ethical outcomes. B. a failure of leadership to establish ethical standards. (D) affect hiring practices very little. Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. separating themselves from suppliers who violate For example, international bank HSBC was subject to a decade-long enforcement action costing it $1.92 billion after the federal government determined the institution violated money-laundering laws and sanctions rules. Research into ethics and business performance has shown the two are linked in some important ways. This will ensure the stability of all structural parts, help to form a sense of belonging to one community with the same goals and aspirations. Studies have found a _____ correlation between academic dishonesty and dishonesty at work. C. providing all relevant information about current and projected performance of the firm. D. shift the production of goods to foreign facilities and layoff Canadian workers. Corporate social responsibility is based on a offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. True false question. They define crimes more narrowly than do ethics protect from fraud, theft, and violence, while are used to decide how we treat others responsibly to society's views of right and wrong Ethically Behaving often requires more than obeying the law. he many small choices we make daily about working or goofing off, using company phones and computers responsibly, and following safety rules, make it clear that ____________________decisions start with each individual. Periodically asking every employee to evaluate the company's ethics performance. A. Reevaluating its ethics codes based on the input of its customers. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ providing safety equipment and training for their workers, increasing the diversity of their workforce Business ethics isnt always exalted in every workplace, but its critically important when it comes to providing customers with quality service, adhering to regulatory compliance standards, and avoiding steep fines and lawsuits. Which of the following are reasons a business should be managed ethically? D. fail to earn sufficient profits for their owners. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. (D) it reduces laws and regulations, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: However, anyone caught violating a law will be immediately fired." Both positive and negative activities are measured. A business should be managed ethically for many reasons: to maintain a good reputation; to keep existing customers and attract new ones; to avoid lawsuits; to reduce employee turnover; to avoid government intervention; and to please customers, employees, and society. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. Which of the following is the BEST reason for a business to be managed ethically? corporate responsibility Explanation There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. A. reduced employee turnover. In the long run, they believe A high ethical standard extends to customers as well. Synonym Discussion of Ethical. not concerned with the ethical or socially responsible behavior of their international suppliers. The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. Strict global regulations require it. How Does 401(k) Matching Work for Employers? False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: We covered: How data teams can actually design ethical ML models, after . Specific decisions made by your organization, whether by an individual or the entire group, can have a massive impact on how your company is viewed and the reputation it cultivates for itself. List the most influential on top. Though there are many ethical opinions that most people share, ethics will differ from person to person. The rent charge above is based on space utilized in the plant. B. investors. A. based on a commitment to integrity and respect and C. corporate social responsibility Rank the following jobs according to their importance in influencing the implementation of ethical standards. D. employee retaliation by doing the minimum needed to get by. socially conscious research organizations. Top management is essentially conducting a(n) A company that has socially responsible human resources management is Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. integrity-based ethics A. With regard to socially responsible behavior, American businesses are (B) it attracts and retains customers D. Outsiders must be told about the ethics program. B. philanthropy. A business's responsibilities to its owners and investors include information technology Supervisor An ethically managed business helps to reduce employee turnover. A business should be managed ethically for many reasons to maintain a good. internal investigation. B. disgruntled workers manipulating budgets and expenses. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ C. the increase in lawsuits used to avoid personal responsibility. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. When management considers ethics in its actions toward stakeholders, employees can be positively affected. B. improve corporate profits. 1. Multiple Choice Periodically asking every employee to evaluate the company's ethics performance. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? requiring suppliers to be evaluated monthly concerning Dont make ethics an afterthought in your company culture. (D) occur in only a few countries. responsible management of human resources, responsible management of human resources. holding international suppliers to different standards than American companies must adhere to in the United States. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. However, it was disclosed that somehow a member of Paulie's management team mentioned the deal to a person he sat next to on a flight from LA to Seattle. an individuals behavior is influenced by the behavior of others. B. D. help investors recoup their losses. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. What kind of person do you think Paulsen is? True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. [B] allowing management to decide the outcomes of investigations "It's an ongoing phenomenon that must be better understood and managed and . Multiple select question. Heres How to Fix It, 10 Common Leadership Mistakes Youre Probably Making, Creating a Diversity and Inclusion Training Program, How to Be an Ethical Leader: 10 Tips for Success, Disrespectful Employees? \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ It does not subtract from the bottom line; it adds to it. social initiatives In turn, employees will trust that their leadership team is working toward the greater good of the entire company. It may just be the cornerstone of your success. Companies that participate in CSR typically have more loyal employees and customers. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. 'Business Ethics' can be termed as a study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. cultural and accountable Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. Jake knew that several other employees followed strict company policy every day and always wore their headgear; yet, they were not being acknowledged for their compliance. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. These actions are higher ethical standards than in the past. D. guideline. Vanessa recognizes this as a(n) ________-based code of ethics. Business Ethics refers to carrying business as per self-acknowledged moral standards. Determining what is involved for a firm to be socially responsible: A. is easy. help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? for the welfare of society as a whole, True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Explanation B This, then, creates greater stability within the company.. Shared accountability among employees. Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. Economics (/ k n m k s, i k -/) is the social science that studies the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work. Government and business leaders are being held to D. Integrity watchdog. C. business exists only to make money for shareholders. human resource support staff The international Day Of Pe, Chapter 3 Doing Business in a Global Markets, Byron Almen, Dorothy Payne, Stefan Kostka, The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Eric Hinderaker, James A. Henretta, Rebecca Edwards, Robert O. Self, Spring 2018 Final Exam Review Chapters 8,9,10. Due to the fact that it is not yet public, those who act upon the information have an unfair advantage and stand to gain financially. D. the nation's business schools that tolerate unethical behaviour in students. A. expanding the opportunity to behave ethically by providing rewards for following the rules. Prepare computations showing how much profits will increase or decrease as a result of making the starters. compliance-based ethics Multiple Choice ethical officers B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and (C) likely to perform worse financially hiring only women and minorities A. delight them with a quality product at a fair price. the federal government reducing regulations about labeling Top management 1. C. teamwork eliminates a need for personal ethics. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. C. Research practices \end{array} D. to please customers, employees, and society. (D) make more money for investors in the short run. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. This includes managers and subordinates, peers and clients. (D) going to lose money by providing pay raises, A business should be managed ethically because Multiple choice question. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. Ethical behavior can have negative consequences to the bottom line in the long run. D. Outsourcing practices Explanation Notes. Should an instance occur, the result could be devastating to your company's finances and reputation. [B] To maintain a good reputation It emphasizes sustainability, customer loyalty, brand image, and employee retention. it reduces laws and regulations Multiple choice question. It seeks to promote honesty, fairness, and responsibility in all advertising. (A) it prevents government audits (C) benevolence is the highest virtue Community members are bound by the pursuit of common values and goals. [D] having an ethics officer who is fair, A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is. Business ethics helps to optimize company resources. It is a set of guidelines for dealing with various procedures ethically. First and foremost, father of 5 and grandfather to 3.<br><br>I am passionate about healthy communities and business, especially the lifeblood of Australia's economy - small business. Multiple Choice As a philosophy, ethics are the principles that guide a person's behaviour. The most basic question in an ethics-based management system is. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. C. Corporate strategy Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. Multiple choice question. Stresses shared accountability A. you need to justify socially responsible behaviour from an investors standpoint only. enjoy greater employee loyalty Demanding Ethical and Socially Res, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Natuurwetenschappen eerste jaar examen trimes. Trustworthiness. A. profits. Dodd-Frank Wall Street Reform and Consumer Protection Act The second major meaning behind the term is . social policy When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. A. social media D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: What motivated the unethical behavior of real estate agents, lenders, and borrowers that led to the financial crisis of 2008? [A] They will bribe local officials to change their policies. insider trading. Unfair competitive practices in the computer industry A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. He also believed anything other than that would be considered: Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? A. The benefit of using __________ to communicate a business's CSR efforts to the public is that it allows companies to reach broad and diverse groups directly in a low-cost, efficient way. What are the causes of pay discrimination in the labor market? Although this can be a lot of work, it can also positively impact the bottom line, protect a companys brand and result in higher customer satisfaction. Tejas Vemparala also contributed to this article. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Multiple Choice Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. integrity-based Multiple Choice All successful businesses communicate effectively. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. lose sales revenues C. Research practices This is due to the fact that our ethics are shaped by our moral code. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. allows them to connect directly with customers True Many companies B. the police in jurisdictions where the business has operations. Therefore, it is the most significant resource to run or upgrade any business. These principles govern every aspect of the company's operations, including its interaction with the government and other businesses, its treatment of its employees and its relationship with its customers. Businesses should create and display their code of ethics publicly. A. guilt payments. Everyone with whom the business has dealings. C. Increased penalties for code violators. [B] it increases the likelihood of government intervention A. the breakdown of traditional religious institutions. D. buying the company's products. called stakeholder interest In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. 2. A. code of ethics. In the workplace, there might be a standard for ethics set throughout the company. A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . Compliance-driven ethics standards (A) businesses who are socially responsible will earn more D. expanding the opportunity to behave ethically by providing punishments for following the rules. Emphasizes strong penalties for wrongdoers [B] share all information with managers when requested Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. lower ethical standards than in the past. The concern businesses have for the welfare of society, not just for their owners is: C. writing their representatives in Congress. U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. A few months ago, Paulie's Pizza House, a large nationwide chain of restaurants, purchased one of its competitors, Italian Stallion Pizza Stations, for $800 million. compliance-based A. Internet [D] allows them to connect directly with customers. How to Get a Bank Loan for Your Small Business, How to Conduct a Market Analysis for Your Business, Guide to Developing a Training Program for New Employees. Who sets the standards of right and wrong as defined by ethics? Paying employees on specified pay dates most of the time. This is called a bounty provision because as stated, they may receive a monetary award for their actions. social order ethics 360-review. [C] making businesspeople more accountable for their actions Strategic partnering ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Ethics may seem like an intangible, but there is a clear connection to overall performance. Multiple choice question. [A] Influence peddling (C) gains for investors in 2008 and 2009 School McMaster University; Course Title COMMERCE 1E03; Type. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. [D] severe financial crises. The employees of a corporation are stakeholders who are affected by management practices. Multiple choice question. Article. Sarbanes-Oxley Ruling The majority of CEOs blame unethical employee conduct on: [D] Political risk taking. Supervisor 4. Are Workplace Politics Destroying Your Business? Is it acceptable if everyone else is doing it? With respect to business ethics, it can be said that "it takes two to tango." If the verb is already correct, write C above it. Explanation B. Whistleblowing C. Plagiarism Answer (1 of 4): When you manage a business ethically it attracts the right people that can suit your company culture and proficiently fit with your business. (C) make students who know how to plagiarize well acceptable to employers Mistakes and misunderstandings are bound to happen in any work setting. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . True ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Multiple select question. social justice. secondary market companies. Multiple select question. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Ethics can be rooted in belief or the pursuit of making the world better. shareholders In ethics and social sciences, value denotes the degree of importance of some thing or action, with the aim of determining which actions are best to do or what way is best to live (normative ethics in ethics), or to describe the significance of different actions.Value systems are prospective and prescriptive beliefs; they affect the ethical behavior of a person or are the basis of their . integrity-based ethics How are these two rates measured? When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: The statement by Patagonia that "A love of wild and beautiful places demands participation in the fight to save them, and to help reverse the steep decline in the overall environmental health of our planet" is an example of: Attracting and retaining better employees is an example of a corporate social responsibility: Unethical behavior in business, especially in the real estate and banking industries, has resulted in Explanation But when they do, employees need to take accountability for their actions. How does the action I am proposing to take make me feel about myself? Decorating Arrangements has just completed operations for the year ended December 31, 2016. clarifying what green means Top management 4. Morality codes of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition Part-time co-worker 3. 8 Mini-Case Study, Intro-Into-Business: Ch. The total rent on the plant is$80.000 per period. B. maintaining proper accounting procedures. an individual's ethics . commitment to maximizing shareholder profits in all decisions, Insiders, such as employees, who report concerns about a company's accounting or auditing practices are called: Multiple select questions. Management ethics can factor into issues including coworker interactions, conflicts of interest, customer safety, honest advertising, customer information security and the responsible use of corporate resources. B. being socially responsible is all about being ethical. \text{Total production cost} & \text{\$ 9.20}\\ Multiple select question. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. In the following sentence, circle the subject of the underlined verb. [B] Bribery Other countries also follow capitalist principles. On the line provided after the sentence, write the possessive form of the underlined words. (C) attract and retain better employees B. varies even among those who are interested in corporate responsibility. (C) occur in many countries One employee whose name was at the top of everybody's list was instrumental in helping another employee who failed to wear his protective headgear to avoid suffering a serious head injury. From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. Many businesses believe that they should have an influential and important role in: Societies set the standards for moral behavior, known as, About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through __________ work. Which of the following is not one of the approaches associated with corporate social responsibility? managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: The field of ethics is a branch of philosophy that seeks virtue and morality, addressing questions about "right" and "wrong" behavior for people in a variety of settings; the standards of behavior that tell how human beings ought to act. It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. It is essentially a moral compass. it attracts and retains customers C. Operational initiatives profitable charities socialism The purpose of a code of ethics is to guide employees in handling ethical dilemmas. Complete each sentence with the comparative or superlative form of the modifier in parentheses. A. capitalism [A] relate well to employees at all levels insider trading. Ethical issues are limited to for-profit organizations. E. All of the answers are correct. Business ethics concerns ethical dilemmas or controversial issues faced by a company. \text{Variable manufacturing overhead} & \text{0.60}\\ The moral and ethical standards by which leaders are judged are far stricter than in the past. tax officials. using recyclable packaging Which of the following would be a unique focus of an integrity-based ethics code? penalizing wrong-doers. Chapter 4. Here are other common examples of ethical behavior: No matter the relationship between two people and what they agree or disagree upon, people within an organization should always respect each other. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. The business term we use to describe this philanthropic action is ___________________, where a company donates what it does best to help make a situation better. B. opportunity. And could be pivotal for career growth. Businesses should be managed ethically because it is the right thing to do, it is legal and keeps the government from writing new laws, it is good for employee turnover, maintains a good reputation, keeps customers and attracts new ones, pleases employees and society Compliance based ethics code A. Supervisor 2. retain better employees At a college, a code of ethics could include being honest and unbiased when grading and being a catalyst for diverse perspectives in the classroom. (B) lack of trust in the free market system ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. C. Accounting fraud B. enjoy significantly higher profits. Which of the following are reasons a business should be managed ethically? Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. Here are five reasons why you should keep things legal and follow business ethics in accounting. C. teamwork eliminates a need for personal ethics. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. TV ads Which of the following represent examples of how corporations set positive standards of ethical behavior? In fact they contribute to it: 1. Workplace and colleague wellbeing. Top management While these actions might not be illegal, they can definitely have negative effects on the morale and success of a company, especially if their dirty laundry is aired publicly. [B] They may choose to cancel orders when there are human rights abuses. In this episode of Experiencing Data, Chenda and I explore her actual methods to designing ethical AI solutions as well as how she works with UX and product teams on ML solutions. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? A number of ethical scandals in the past decade have raised awareness of ethical issues in business. Product safety A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? about being fair and honest with their stakeholders D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. [B] reaches broad and diverse groups False. With respect to business ethics, it can be said that "it takes two to tango." This indicates that: A. dancing around issues should be part of a firm's code of ethics. [C] allows them to reach specific groups more directly Which of the following is NOT a part of an integrity-based ethics code?

Open Air Artisans Fairs In Chile, Busted Mugshots Durham Nc, To My First Born Daughter Quotes, Woman Found Dead In Canton Ms, Articles A