Typically, it is the kind of information where parties in the know can benefit. [C] conducting objective investigations Increased control over employee actions. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. ___________ __________ ______________is a business's concern for the welfare of society. C. writing their representatives in Congress. building parks Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. 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. 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. Which of the following are reasons a business should be managed ethically? [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is Explanation Those who have others interests in mind when they make decisions are displaying ethical behavior. They should display behavior that is honest and fair in their relationships with co-workers and their. The You Design, We Build Company makes custom furniture of all kinds. Sherman Act \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. draw more customers, Many investors believe Everyone with whom the business has dealings. (C) gains for investors in 2008 and 2009 Multiple choice question. [C] The U.S. government will use military force to enforce labor laws.. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: (C) to increase employee turnover 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. C. business exists only to make money for shareholders. Why a Business Should be Managed Ethically? - The Business Guru Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". Which of the following are examples of outside stakeholders that must be told about a company's ethics program? 2. Business Ethics - Overview, Examples, Components of Business Ethics Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility moral impropriety. When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: customers 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: Organizational ethics begins Multiple Choice at the top levels of management. Research has shown that companies engaged in corporate social responsibility (CSR): On the flip side, a leader who personifies ethical behavior will be fair in all situations. called stakeholder interest 051-Methods for Designing Ethical, Human-Centered AI with Undock Head Written ethics codes can be categorized as The owners of Good Eats Restaurant in St. Louis drove several hours with a van of employees, equipment, and food to donate what they could to help the storm victims. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. 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. D. Outsourcing practices Economics - Wikipedia P 145 avoiding lawsuits is one reason to manage a - Course Hero There are a wide variety of examples of ethical behavior in the workplace. technical policy social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Multiple choice question. D. management is insensitive to ethical issues. Ethical standards are different from country to country. [B] reaches broad and diverse groups 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. 2. Those who argue in favour of corporate social responsibility suggest that: Source interviews were conducted for a previous version of this article. Are Workplace Politics Destroying Your Business? Ethics in Management | Encyclopedia.com 8 Mini-Case Study, Intro-Into-Business: Ch. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: Business ethics concerns ethical dilemmas or controversial issues faced by a company. With regard to socially responsible behavior, American businesses are Business principle (3) Flashcards | Quizlet E. law. Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. [D] requiring all bankers to sign ethical codes. 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. Trustworthiness. The best way to instill a culture of ethics among your employees is to lead by example and maintain a clear zero-tolerance policy on specific unethical behaviors, such as lying, cheating, stealing and fraud. \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ B. Whistleblowing C. Plagiarism Resource procurement and consumption practices B. (A) businesses who are socially responsible will earn more The findings reveal that quality service and an ethical business plan are essential to long-term business success. Chapter 4 - Business Flashcards | Quizlet Managing data ethics | Deloitte Insights reaches broad and diverse groups Multiple Choice How Managers Can Encourage Ethical Behavior | Principles of Management fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. D. the nation's business schools that tolerate unethical behaviour in students. A business starts with the correct usage and allocation of finances and cost management. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. Rohit Sharma - Lead Technical Product Manager - LinkedIn 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) ? [B] allowing management to decide the outcomes of investigations Here are five reasons why you should keep things legal and follow business ethics in accounting. In the workplace, there might be a standard for ethics set throughout the company. B. maintaining proper accounting procedures. 1. Governments The unethical and illegal activity in which investors use private company information to further their own fortunes or those of their family and friends is called: The most effective ethics officers are equally comfortable as ________ and investigators. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Integrity-based ethics codes Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management Multiple Choice 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. 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? Managing Business Ethics - Ethical Systems Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. 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. ethical officers On the line provided after the sentence, write the possessive form of the underlined words. In a business setting, ethical behavior applies to any employee, team lead or supervisor. (B) make employers reluctant to hire those who have cheated Explanation 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. It may just be the cornerstone of your success. A business should be managed ethically for many. B. focus on cost and quality control systems within your organization. A. A. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) (B) it attracts and retains customers U.S. law does not require U.S. firms to comply because of competitive advantage concerns. Which of the following is the BEST reason for a business to be managed ethically? A business should be managed ethically for many reasons to maintain a good. Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. TV ads retaliation Think about a business that hires only family or one that gives inappropriate incentives, for example. Multiple choice question. Sarbanes-Oxley Ruling B. B. an individual's behaviour is influenced by the behaviour of others. C. Accounting fraud All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. E. all of the answers are correct. During the last recession monetary contributions decreased and companies found ways to continue their philanthropic participation by asking employees to donate time to corporate social initiatives and other projects. False, Whistleblowers can be helped by protecting them from: After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. Today, as many Americans (64%) say that a company's "primary purpose" should include "making the world better" as say it should include "making money for shareholders." An important factor in enforcing an ethics code is: Multiple select question. D. Pricing practices [A] To attract customers In a business setting, ethical behavior applies to any employee, team lead or supervisor. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. The majority of CEOs blame unethical employee conduct on: It is the right thing to do. An ethically managed business helps to reduce employee turnover. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ 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. C. moral philosophy. C. Education and training Research into ethics and business performance has shown the two are linked in some important ways. Chapter 4. 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. Multiple choice 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? 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. Multiple Choice Multiple select question. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. C. It is the law in the U.S. D. Employees. ERIC - EJ817941 - Using Ethics Vignettes in Introductory Finance Community members are bound by the pursuit of common values and goals. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that What Are Business Ethics? Definition, Types and Examples By being ethical, leaders can foster an environment that rewards and encourages good attitudes. D. structure and strategy. C. teamwork eliminates a need for personal ethics. increased financial donations to local areas but pulled away from national and global contributions. Positive Effects of . Corporate policy refers to the position a firm takes on ______________ and __________________ issues. (A) likely to perform better financially C. Corporate strategy Which of the following is not one of the approaches associated with corporate social responsibility? analysts. 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. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. Multiple Choice Multiple Choice insider trading. 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. How can. True acquisition stalking. The second major meaning behind the term is . 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. 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. Ch 4 Flashcards | Quizlet Which of the following statements reflects the difficulty companies face when requiring international suppliers to follow environmental and human rights standards set by U.S. firms? The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. Multiple choice question. [B] it increases the likelihood of government intervention for the welfare of society as a whole, about being fair and honest with their stakeholders A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. (D) long jail terms for those who acted unethically. We covered: How data teams can actually design ethical ML models, after . Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. (C) make students who know how to plagiarize well acceptable to employers Socially conscious investors insist that a company extend its own high standards to its ____________________. compliance police. In fact, data collected by Ethisphere, an organization that tracks the ethical conduct of the worlds largest companies, found that the businesses listed on its 2022 list of most ethical companies outperformed an index of similar large cap companies by 24.6 percent overall. In the long run, CSR enhances profits. 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. Though there are many ethical opinions that most people share, ethics will differ from person to person. 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. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. [B] about being fair and honest with their stakeholders _____________________ _____________________ _____________________is a business's concern for the welfare of society. [D] They may choose to cancel orders when there are environmental abuses. Corporate responsibility Taking Advantage of the Advantages: Gifts, Bribes, and Kickbacks Which of the following is NOT a part of an integrity-based ethics code? using recyclable packaging A. 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. B. philanthropy 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. Eric Allgood - Managing Director - Small Business Assistance and Explanation (A) 3 out of 4 citizens do not give any time to the communities in which they live C. help laid-off employees get their jobs back. CSR can lead to even more profits. benevolence can lead to a vote of no confidence by company stakeholders. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: To allow whistleblowers to come forward with information organizations should human resource support staff Socially conscious research organizations collect information on the social responsibility efforts of companies. Notes. Shared accountability among employees. going to lose money by providing pay raises Companies Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. A. profits. A Understanding that individual moral standards, the influence of managers and coworkers, and D. Improved awareness of the relevant laws. Explanation [C] allows them to reach specific groups more directly A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . 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. List the most influential on top. In running a successful business, a key factor in that success will be the ethical and moral standards of yourself, your leaders, and your entire team. Strategic partnering 1. B. Should an instance occur, the result could be devastating to your company's finances and reputation. D. short run profit maximization. D. maximizing their investment in the firm. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. enjoy greater employee loyalty protect them from retaliation That person called five of his relatives and several friends. allows them to reach specific groups more directly, allows them to connect directly with customers 'Business' can mean an activity of exchange. socially conscious research organizations. social audit. C. providing all relevant information about current and projected performance of the firm. In addition to researching trends, reviewing products and writing articles that help small business owners, Sean runs a content marketing agency that creates high-quality editorial content for both B2B and B2C businesses. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. D. Integrity watchdog. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. Value (ethics and social sciences) - Wikipedia B. A. information technology Although these actions were not part of the mandatory waitstaff training, Amber perceived that waitstaff members who were not helping out were not viewed as team players by the majority of employees. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? Explanation Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. C. all levels of management. An ethical business will get your employees to respect your company . Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. about being fair and honest with their stakeholders Many companies believe they have a role in promoting ____________ ______________ , so they donate to local food banks, promote literacy, and provide computer lessons for inner city children.
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