True false question. shareholders C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and (C) make students who know how to plagiarize well acceptable to employers Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by A business should be managed ethically because, businesses with good reputations attract customers. U.S. companies tend to overlook and forget human rights abuses abroad. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility Research into ethics and business performance has shown the two are linked in some important ways. 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: Which of the following is a reason why a business should be managed ethically? We covered: How data teams can actually design ethical ML models, after . 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. This sort of behavior is not limited to the workplace; it can be present in every facet of life. it reduces laws and regulations Economic conditions in some developing countries make child labor a necessity for the survival of families. The second major meaning behind the term is . Emphasizes strong penalties for wrongdoers (B) it attracts and retains customers It is the right thing to do. Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. D. management is insensitive to ethical issues. It is actually a structure of moral principles and code of conduct applicable to a business. Who sets the standards of right and wrong as defined by ethics? Companies that participate in CSR typically have more loyal employees and customers. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. A. you need to justify socially responsible behaviour from an investors standpoint only. True Whistleblowers are insiders who report illegal or unethical behavior. (B) going to save money by not hiring those who are disabled Scandals. corporate social initiative profitable charities __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. general guiding values 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. Which of the following represent examples of how corporations set positive standards of ethical behavior? Explanation A. Diversity and discrimination B. The term business ethics refers to the set of moral principles that guides a company's conduct. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. Ignoring hazardous job conditions that exist in the company's facilities 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. America's CEOs Seek a New Purpose for the Corporation The findings reveal that quality service and an ethical business plan are essential to long-term business success. As a philosophy, ethics are the principles that guide a person's behaviour. C. a loss of employee commitment and trust in the company and its management. Multiple Choice Multiple Choice Multiple Choice (A) investors putting more money into both markets 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. Multiple choice question. a written code of ethics E. all of the answers are correct. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: Explanation Safe working conditions The firm has evolved into a big business due to quality and innovative work. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. 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. Part-time co-workers. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. With over 20 years of consulting experience across various industries throughout Australia and abroad, I am known for my ability to develop and turn creative strategies into efficient execution and excellent . An important reason for a company to maintain its ethical reputation is What Does Ethical Decision Making Mean? Typically, it is the kind of information where parties in the know can benefit. (A) it prevents government audits [B] reaches broad and diverse groups Which of the following are examples of outside stakeholders that must be told about a company's ethics program? E. help restore confidence in Corporate America and Canada. is costly, but worthwhile in reaching specific customers How Managers Can Encourage Ethical Behavior | Principles of Management The ethics code must be enforced. D. buying the company's products. [C] can be trusted to maintain confidentiality The chief engineer has recommended against this move, however, pointing out that the cost to produce the starters would be greater than the current 8.40perunitpurchaseprice:8.40 per unit purchase price:8.40perunitpurchaseprice: PerUnitTotalDirectmaterials$3.10Directlabor2.70Supervision1.50$60.000Depreciation1.00$40.000Variablemanufacturingoverhead0.60Rent0.30$12.000Totalproductioncost$9.20\begin{matrix} Strict global regulations require it. Amber was observing an example of the ___________ followed at this organization. The rent charge above is based on space utilized in the plant. What are the causes of pay discrimination in the labor market? C. Increased penalties for code violators. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. Startup Costs: How Much Cash Will You Need? integrity-based ethics The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: A systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs is called: How are U.S. companies likely to pressure foreign companies to change their standards of ethics and social responsibility? [A] relate well to employees at all levels \text{ } & \text{Per Unit} & \text{Total}\\ Then, of course, there are the more serious consequences of highly unethical behavior. Multiple choice question. Governments A. Overstating an expense report. Think about a business that hires only family or one that gives inappropriate incentives, for example. Multiple choice question. free from the concern of A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. Full-time co-workers B. ability to plan for the unexpected. These steps included creating a climate based on service quality and ethical behavior that guides employees without direct supervision, taking corrective actions before unethical behaviors occur by periodically measuring employees perceptions of the companys ethical climate, and emphasizing the importance of service quality and ethical behaviors as they relate to competition in the marketplace. Rank the following jobs according to their importance in influencing the implementation of ethical standards. D. maximizing their investment in the firm. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Distributors. Corporate social responsibility is based on a Basic ethical practices have been gleaned through research and practical study of how businesses function, and how they operate, both independently and with one another. D. integrity. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. [B] passing laws to make accounting records more transparent Compliance-based ethics codes focus on: 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. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. This is especially so when the market is very competitive, because then the customers have a lot of options and could switch to another product or service provider.. What kind of person do you think Paulsen is? For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. She was even _____ after her solo than before. (B) have higher turnover Top management It is essentially a moral compass. Multiple Choice [A] is costly, but worthwhile in reaching specific customers It's the age-old reality: "Out-of-sight, out-of-mind." In a business setting, ethical behavior applies to any employee, team lead or supervisor. integrity-based ethics Multiple Choice decreased financial donations and eliminated support in almost every way. requiring suppliers to be evaluated monthly concerning 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. allows them to reach specific groups more directly, allows them to connect directly with customers stockholders 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. 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. C. all levels of management. B. helping others 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. 8 Current Ethical Issues in Business (and How to Manage Them) to increase employee turnover False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: [A] To attract customers C. Research practices [B] about being fair and honest with their stakeholders But when they do, employees need to take accountability for their actions. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. [B] Bribery Explanation Multiple select question. D. the nation's business schools that tolerate unethical behaviour in students. reducing most costs Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. E. all of the answers are correct. Reevaluating its ethics codes based on the input of its customers. This is the third year of operations for the company. 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: HR Ethical Dilemmas - SHRM social justice. ERIC - EJ817941 - Using Ethics Vignettes in Introductory Finance How to Manage a Business Effectively (7 Key Elements) Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. If an underlined word is already in the correct possessive form, write a C on the line. C. to attract new customers and retain existing customers. 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. Fraud . Ethical problems such as influence peddling and bribery: Government and business leaders are being held to A. varies among those who are interested in corporate responsibility. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ Italian Stallion stockholders got a very fair deal for the stock they owned in the company. 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. Multiple choice question. 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 . Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. asking suppliers to lower their standards to be in compliance with U.S. companies that operate abroad, particularly those who contract with foreign companies, are now ________ human rights and environmental standards followed by U.S. law. A. B. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: In "Two Kinds," how does the narrator feel after the talent show? They should display behavior that is honest and fair in their relationships with co-workers and their. Team and business confidence. D. fail to earn sufficient profits for their owners. socially conscious research organizations. Though discrimination and harassment laws have been put in place and continue to be updated . When management considers ethics in its actions toward stakeholders, employees can be positively affected. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Increased control over employee actions. Which of the following are reasons a business should be managed vigilantes. A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . social initiatives Multiple choice question. Ethics in the Workplace: Examples & Tips | PayScale Discrimination and Harassment. (D) make more money for investors in the short run. Corporate philanthropy Decorating Arrangements has just completed operations for the year ended December 31, 2016. 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. Why Should Businesses Act Ethically? - Business Ethics and Corporate The total rent on the plant is$80.000 per period. Responsible business behavior depends on the responsible behavior of each ______ in the business world. Which of the following should help reduce the incidence of unethical behavior in an organization? In turn, employees will trust that their leadership team is working toward the greater good of the entire company. B. Studies have shown that what most influences a company's effectiveness and financial performance is: responsible management of human resources, Which of the following behaviors are illegal in the United States, but potentially put our companies at a disadvantage in overseas markets? Multiple select questions. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. With respect to business ethics, it can be said that "it takes two to tango." E. filing complaints with the company. 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. C. often experience customer loyalty problems. corporate raider divisions. Shared accountability among employees. Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. [C] To increase employee turnover (D) going to lose money by providing pay raises, A business should be managed ethically because [A] making the charges public before the investigation B. an individual's behaviour is influenced by the behaviour of others. ethical officers tax officials. An important reason for a company to maintain its ethical reputation is Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. How does the action I am proposing to take make me feel about myself? Both positive and negative activities are measured. Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. However, anyone caught violating a law will be immediately fired." 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. Ethical behavior means your team operates according to fair and transparent standards, not just complying with legal rules or regulatory requirements, but going above and beyond to ensure decisions are applied through an ethical lens. insider trading. HR professionals sometimes face ethical or moral dilemmas. Integrity-based ethics codes The 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. Multiple select question. 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? Explanation Business Ethics - Quick Guide - tutorialspoint.com A business should be managed ethically for many. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. (C) 4 out 5 citizens volunteer an hour each week only with their responsibility to their shareholders unethical List the most influential on top. Research has shown that companies engaged in corporate social responsibility (CSR): False. [A] They will bribe local officials to change their policies. corporate social initiative 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. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; Which of the following is NOT a part of an integrity-based ethics code?
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