a business should be managed ethically because a business should be managed ethically because

Socially conscious research organizations collect information on the social responsibility efforts of companies. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Which of the following is NOT a part of an integrity-based ethics code? The side effects are so great that the society urges that the business should always be ethically and socially responsible. False. Corporate social responsibility describes the firm's: A. responsibility to their stockholders. [C] conducting objective investigations U.S. companies follow the lead of consumers, and at this time, there is no evidence of a trend toward concern for better human rights and environmental standards. analysts. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ Multiple choice question. opportunity influence ethical behavior higher ethical standards than in the past. A. What kind of person do you think Paulsen is? Part-time co-workers. 1. C. Operational initiatives With respect to business ethics, it can be said that "it takes two to tango." demanding that international suppliers adhere to higher, more costly standards than their American counterparts. Periodically asking every employee to evaluate the company's ethics performance. A. These actions are stockholders Here are five reasons why you should keep things legal and follow business ethics in accounting. 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, Chapter 18 APUSH The Victorian Era 1880-1917. secondary market companies. Honorees on this year's list of the World's Most Ethical Companies outperformed the Large Cap Index by 10.5 percent over three years. Displaying good ethical behavior can boost company morale and client relations. 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. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? ignoring both ethical and unethical behavior This is due to the fact that our ethics are shaped by our moral code. (C) attract and retain better employees Multiple choice question. [C] can be trusted to maintain confidentiality Dodd-Frank Wall Street Reform and Consumer Protection Act (C) benevolence is the highest virtue A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. True false question. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ leaving unethical behavior unpunished 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. \text{Direct labor} & \text{2.70}\\ Supports ethically sound behavior Unfair competitive practices in the computer industry Multiple select question. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ How to Write a Self-Assessment: 5 Tips to Improve Do Not Sell/Share My Personal Information, Limit the Use of My Sensitive Personal Information. The following data have been assembled for the business: InsuranceExpense$2,000SalariesExpense$37,000ServiceRevenue80,000AccountsPayable4,300UtilitiesExpense500OfficeSupplies1,500RentExpense11,000Dividends4,500CommonStock8,500AccountsReceivable7,500Cash7,000Equipment26,600RetainedEarnings,Jan.1,20164,800\begin{array}{lrlr} Multiple choice question. Distributors. Executives at Enron and Tyco were found guilty ____________ of behavior that damaged their companies' reputations, The emergence of the green movement has affected businesses by. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. using recyclable packaging likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." (B) going to save money by not hiring those who are disabled It does not subtract from the bottom line; it adds to it. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . Practice deception regarding product safety issues. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Integrity-driven ethics codes Prepare computations showing how much profits will increase or decrease as a result of making the starters. Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by _____________________ _____________________ _____________________is a business's concern for the welfare of society. Positive Effects of . Demanding Ethical and Socially Res, Intro-Into-Business: Ch. Multiple choice question. help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? Explanation D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? An important reason for a company to maintain its ethical reputation is C. Education and training An appearance of conflict exists when a reasonable person looking at the situation from outside (and without personal knowledge of anyone involved) will conclude from the circumstances that the employee's ability to perform his or her duties may be compromised by personal interest. formal and informal. cultural and accountable D. Outsiders must be told about the ethics program. standards. Recently, top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and to list negative occurrences that supervisors observed. it makes financial as well as moral sense to invest in companies that plan to create a better environment, that they can improve their own financial health by investing in companies whose goods and services benefit the community Implementing ethical standards within an organization starts with: An employee who reported her boss to the SEC for insider trading would be considered a(n) _____________ protected by law. <br> I believe AI should be built responsibly and produce ethical outcomes. Unethical behavior by financial and real estate businesses has led to whistleblowers ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Ignoring hazardous job conditions that exist in the company's facilities In the long run, they believe fascism However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. whistleblowers Explanation Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. D. shift the production of goods to foreign facilities and layoff Canadian workers. 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. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. retain better employees Multiple choice question. C. diversity Research has shown that companies engaged in corporate social responsibility (CSR): Multinational corporations are committed to operating within the legal limits of U.S. law. However, anyone caught violating a law will be immediately fired." it reduces laws and regulations Giving back to society Periodically asking every employee to evaluate the company's ethics performance. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. B. Whistleblowing C. Plagiarism Marketing, Finance, Sales), technical roles (e.g. [B] it increases the likelihood of government intervention Examples of ethical behaviors in the workplace includes; obeying the company's rules, effective communication, taking responsibility, accountability, professionalism, trust and mutual respect for your colleagues at work. It could also mention specific protocol within the business. Amber was observing an example of the ___________ followed at this organization. Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; 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. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. Product safety What is the real risk-free rate of interest (r)\left(\mathrm{r}^*\right)(r) and the nominal risk-free rate (rRF)\left(\mathrm{r}_{\mathrm{RF}}\right)(rRF) ? Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. A business should be managed ethically for many. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. They should display behavior that is honest and fair in their relationships with co-workers and their. Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. This sort of behavior is not limited to the workplace; it can be present in every facet of life. An organization's managers instill corporate values and _____________________ in employees by the examples they set. the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. In the following sentence, circle the subject of the underlined verb. the federal government the collection of laws to protect society from fraud, theft, and violence. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Multiple Choice corporate inclusion policy The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. an individuals behavior is influenced by the behavior of others. It is the right thing to do. Rank the following jobs according to their importance in influencing the implementation of ethical standards. D. expanding the opportunity to behave ethically by providing punishments for following the rules. Team and business confidence. My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. (B) have higher turnover (A) 3 out of 4 citizens do not give any time to the communities in which they live \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? They should display behavior that is honest and fair in their relationships with co-workers and their clients. Strategic partnering B. varies even among those who are interested in corporate responsibility. Government and business leaders are being held to Ethical standards are different from country to country. Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. A. A. protecting the owners' rights and investments. In "Two Kinds," how does the narrator feel after the talent show? The ethics code must be enforced. ___________ __________ ______________is a business's concern for the welfare of society. \text{Direct materials} & \text{\$ 3.10}\\ lose sales revenues pro-current procurement. [C] allows them to reach specific groups more directly Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. [D] requiring all bankers to sign ethical codes. Businesses must abide by some basic principles. B. disgruntled workers manipulating budgets and expenses. TV ads This includes managers and subordinates, peers and clients. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. standards. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. Which step is the most critical to help improve business ethics? C. all levels of management. (D) long jail terms for those who acted unethically. B. Horn blower Multiple select question. To allow whistleblowers to come forward with information organizations should D. concern for the welfare of society. Top management 4. The motives of those involved in unethical behavior that caused the financial crisis in the real estate, banking, and mortgage industries included: Who sets the standards of right and wrong as defined by ethics? requiring suppliers to be evaluated monthly concerning A. you need to justify socially responsible behaviour from an investors standpoint only. To manage these risks and the ethical obligations they imply, CDOs should work on developing institutional practices for continual learning and interaction with external experts. Who sets the standards of right and wrong as defined by ethics? [D] severe financial crises. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. D. Outsourcing practices providing safety equipment and training for their workers, increasing the diversity of their workforce Is it acceptable if everyone else is doing it? fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. How are these two rates measured? Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. Emphasizes strong penalties for wrongdoers When Paulsen describes Storm, he also gives clues about his own personality. The concern businesses have for the welfare of society, not just for their owners is: Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. The companys vision, values and mission should be clearly stated and visible to both employees and clients so that the company can be held to those standards. Managing Business Ethics takes the view that ethical and unethical conduct are primarily the product of how systems align within an organization to promote certain kinds of behavior. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. Global Business Ethics. Business should be managed ethically because Businesses with good reputations attract customers It reduces employee turnover It reduces the likelihood of lawsuits by employees or customers True or false: individuals have social responsibilities regarding their ethical behavior in the business world. allows them to reach specific groups more directly, allows them to connect directly with customers Which of the following represent examples of how corporations set positive standards of ethical behavior? False, Whistleblowers can be helped by protecting them from: called stakeholder interest Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. internal search and occupy organizations. vigilantes. 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. D. buying the company's products. D. employee retaliation by doing the minimum needed to get by. going to lose money by providing pay raises According to recent U.S. Census Bureau research volunteerism is at an all time high, but, 3 out of 4 citizens do not give any time to the communities in which they live. For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. tax officials. 'Business' can mean an activity of exchange. 1. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ A. code of ethics. True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Responsible business behavior depends on the responsible behavior of each ______ in the business world. A. the breakdown of traditional religious institutions. [D] They may choose to cancel orders when there are environmental abuses. [A] Influence peddling The dimension of social responsibility known as _________________responsibility includes everything from hiring minority workers to making safe products, minimizing pollution, using energy wisely, and providing a safe work environment. J. M. D'Aquila, D. F. Bean, and E. G. Procario- Foley (2004) reported that 97% of business leaders perceive American businesses as ethical, versus 24.5% of students. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. Multiple Choice Part-time co-worker 3. reducing regulations about labeling integrity-based Multiple select question. A. expanding the opportunity to behave ethically by providing rewards for following the rules. 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. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. E. help restore confidence in Corporate America and Canada. True Multiple Choice 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. Other countries also follow capitalist principles. 2. B. personal responsibility C. compliance The corporate scandals can hurt the reputation of firms, the interests of investors and stakeholders, welfare of employees, the life damage or property losses of customers and the damage of environment. Multiple select question. likely to perform better financially Top management at Lancer Distributing is convinced that they have a social responsibility to their community. Strict global regulations require it. A. responsibility \text{Total production cost} & \text{\$ 9.20}\\ Business ethics benefits the bottom line. Safe working conditions C. Increased penalties for code violators. Deceptive advertising of medicines and toys [C] The U.S. government will use military force to enforce labor laws.. Supervisor 2. The employees of a corporation are stakeholders who are affected by management practices. 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. Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. 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 . Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? He also believed anything other than that would be considered: Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. Sarbanes-Oxley Ruling C. business exists only to make money for shareholders. Target is a business. 1 Mini-Case Study, (Learning Curve 11 a) Body Development; Cogni, (LearningCurve 11b) Becoming Your Own Person-, chapter 3 psy 200 (LearningCurve 3b) Survivin, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. This will ensure that you have trustworthy employees working for you. responsible management of human resources, responsible management of human resources. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. If the verb is already correct, write C above it. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. [C] Paying U.S. minimum wage reaches broad and diverse groups Though there are many ethical opinions that most people share, ethics will differ from person to person. False. [D] favor management in their investigations, A communication tool many companies use to inform diverse groups of their social responsibility efforts at little cost is. corporate social initiative The last recession changed the way many companies offer support to people and communities in need. Your boss has prepared some questions for you to consider. [C] making businesspeople more accountable for their actions It is an act that is against the law and against Securities and Exchange Commission policy. ethical standards that are often unreasonable and cannot be met by most leaders. Governments I'm a Product Manager with experience working cross-functionally with business roles (e.g. This is an example of corporate: C. It is the law in the U.S. D. Employees. many Americans decide what's ethical based upon the situation in which they find themselves. Scandals. B. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? corporate policy Which of the following statements about business ethics is false? She was even _____ after her solo than before. Why You Need to Create a Fantastic Workplace Culture, 10 Employee Recruitment Strategies for Success, Best Accounting Software and Invoice Generators of 2023, Best Call Centers and Answering Services for Businesses for 2023. Multiple select question. varies among those who are interested in corporate responsibility. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. Explanation of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition (B) it is using investors' money in ways they did not intend C. Corporate strategy whistleblowers. B. Multiple choice question. Which of the following would least likely involve ethical concerns? She has asked you to give her information about what determines the level of various interest rates. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. There are a number of reasons why businesses should act ethically: to protect its own interest; to protect the interests of the business community as a whole so that the public will have trust in it; to keep its commitment to society to act ethically; to meet stakeholder expectations; to prevent . shareholders The deliberative system leads to more-ethical behaviors. The Sarbanes-Oxley Act and Ontario's Bill C-198 were both passed to A. punish those who committed accounting fraud in the late 1990s. Its premise is based on integrity, fairness, and respect for others. Paying employees on specified pay dates most of the time. Trustworthiness. Explanation 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. E. all of the answers are correct. On the line provided after the sentence, write the possessive form of the underlined words. The employment of ethical business practices can enhance overall corporate health in three important areas. A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? (B) are limited to the United States True or false: Many investors believe that by choosing to put their money into companies whose goods and services benefit society, they can improve society's financial health as well as their own. 8 Mini-Case Study, Intro-Into-Business: Ch. (D) going to lose money by providing pay raises, A business should be managed ethically because 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. The firm has evolved into a big business due to quality and innovative work. If an ethical tone is set at the top and followed by management, everyone who works there will hold themselves and each other to those standards. Fraud Which of the following statements is false? E. All of the answers are correct. D. Integrity watchdog. customers Employees and management alike can work together to create businesses that have high standards.