a business should be managed ethically because

I'm a Product Manager with experience working cross-functionally with business roles (e.g. D. Deceptive advertising of food products E. All of the answers are correct, As a new employee, Vanessa has heard her boss say, "Do whatever it takes to meet your sales quota. internal search and occupy organizations. Which of the following statements about business ethics is false? punishing unethical behavior and rewarding ethical behavior privately Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. An organization's managers instill corporate values and _____________ in employees by the examples they set. With respect to business ethics, it can be said that "it takes two to tango." 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. Top management There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. actual ethics. Multiple choice question. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. 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. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. [A] They will bribe local officials to change their policies. allows them to reach specific groups more directly. [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. B. an individual's behaviour is influenced by the behaviour of others. Compliance-based ethics codes Multiple select question. 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. Internal auditors 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. Part-time co-worker 3. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Suppliers [D] To avoid lawsuits, Effective ethics officers: Companies Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. social impact program. because strict global regulations require it, learned by observing the actions of others in the organization. A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. How does the action I am proposing to take make me feel about myself? Safe working conditions This is called a bounty provision because as stated, they may receive a monetary award for their actions. Explanation A business should be managed ethically because, businesses with good reputations attract customers. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? D. concern for the welfare of society. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ Multiple Choice False. Though discrimination and harassment laws have been put in place and continue to be updated . Multiple choice question. Top leaders from other countries have been charged with bribery. decreased financial donations and eliminated support in almost every way. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Whistleblowers are insiders who report illegal or unethical behavior. it makes financial as well as moral sense to invest in companies that plan to create a better environment, Companies that try to act in a socially responsible way are likely to focus on such activities as of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. How can. Multiple Choice These examples of ethical behaviors ensures maximum productivity output at work. Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. integrity-based ethics for the welfare of society as a whole, about being fair and honest with their stakeholders [A] it reduces employee turnover Its premise is based on integrity, fairness, and respect for others. formal and informal. corporate beneficial management holding international suppliers to different standards than American companies must adhere to in the United States. Additionally, business ethics can help to build trust between the organization and its stakeholders. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Socially conscious investors insist that a company extend its own high standards to its ____________________. It seeks to promote honesty, fairness, and responsibility in all advertising. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: about being fair and honest with their stakeholders To attract customers To avoid lawsuits To maintain a good reputation Making decisions that we know are different from what is right erodes our self-esteem. "It's an ongoing phenomenon that must be better understood and managed and . create an open-door policy, protect them from retaliation \text{Direct labor} & \text{2.70}\\ In a business setting, ethical behavior applies to any employee, team lead or supervisor. [A] outsourcing enforcement of the laws to private firms Complete each sentence with the comparative or superlative form of the modifier in parentheses. E. all of the answers are correct. What Does Ethical Decision Making Mean? Explanation socialism 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. 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. 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. (B) it is using investors' money in ways they did not intend D. companies who are perceived as being socially responsible will ultimately earn more profits for their Multiple choice question. Full-time co-workers 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. cultural and accountable In fact they contribute to it: 1. D. structure and strategy. 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. This is an example of corporate: A. Overstating an expense report. Paying employees on specified pay dates most of the time. HR professionals sometimes face ethical or moral dilemmas. Periodically asking every employee to evaluate the company's ethics performance. 1. leaving unethical behavior unpunished firms should take added caution not to support government programs that protect the environment. <br> I . A Understanding that individual moral standards, the influence of managers and coworkers, and providing safety equipment and training for their workers, increasing the diversity of their workforce (B) have higher turnover [B] passing laws to make accounting records more transparent Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. Explanation investors. 'Business' can mean an activity of exchange. 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. (D) going to lose money by providing pay raises, A business should be managed ethically because Multiple Choice Which of the following were not identified as being fundamental to the CSR definition? A high ethical standard extends to customers as well. free from the concern of Governments <br> I believe AI should be built responsibly and produce ethical outcomes. Religious institutions, Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; B. [B] it increases the likelihood of government intervention True B. personal responsibility C. compliance Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. compliance-based ethics Decorating Arrangements has just completed operations for the year ended December 31, 2016. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. 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. compliance police. Multiple Choice Resource procurement and consumption practices However, anyone caught violating a law will be immediately fired." Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? 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] few losses to investors Dodd-Frank Wall Street Reform and Consumer Protection Act A. you need to justify socially responsible behaviour from an investors standpoint only. A. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. Explanation can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. 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. stockholders Mistakes and misunderstandings are bound to happen in any work setting. It may just be the cornerstone of your success. If the verb is already correct, write C above it. B. philanthropy. B. maintaining proper accounting procedures. School McMaster University; Course Title COMMERCE 1E03; Type. D. expanding the opportunity to behave ethically by providing punishments for following the rules. 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. Multiple choice question. Supervisor 4. [D] allows them to connect directly with customers. (C) gains for investors in 2008 and 2009 CSR can lead to even more profits. Which of the following is a reason why a business should be managed ethically? Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. A. a clear set of rules and regulations Rank the following jobs according to their importance in influencing the implementation of ethical standards. That person called five of his relatives and several friends. because strict global regulations require it Corporate values are: a written code of ethics [A] To attract customers A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . B. A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. This is due to the fact that our ethics are shaped by our moral code. 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. Organizational ethics begins Multiple Choice at the top levels of management. D. to please customers, employees, and society. Multiple choice question. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. Its easier for a business to retain employees when they work for a company that they believe in. 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? Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. False, Whistleblowers can be helped by protecting them from: C. teamwork eliminates a need for personal ethics. A. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. ethical officers It is an act that is against the law and against Securities and Exchange Commission policy. corporate raider divisions. B. varies even among those who are interested in corporate responsibility. For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. Target is a business. [D] businesses with good reputations attract customers. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. higher ethical standards than in the past. 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) ? A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. the collection of laws to protect society from fraud, theft, and violence. An important reason for a company to maintain its ethical reputation is Top management 1. standards. About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. 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. Corporate philanthropy lose sales revenues Multiple select question. corporate social initiative A. many Americans decide what's ethical based upon the situation in which they find themselves. True false question. Should an instance occur, the result could be devastating to your company's finances and reputation. A well-implemented ethics program can also reduce losses. A company that has socially responsible human resources management is 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. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. (C) 4 out 5 citizens volunteer an hour each week 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. allows them to connect directly with customers Corporate responsibility The first area is productivity. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. D. short run profit maximization. Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. 360-review. [C] allows them to reach specific groups more directly corporate policy Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. Discrimination and Harassment. When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. It is the right thing to do. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. Internal Audit Company Protection Act [C] Paying U.S. minimum wage This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. Multiple select question. (B) lack of trust in the free market system whistleblowers 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. They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? Unfair competitive practices in the computer industry using recyclable packaging (D) occur in only a few countries. Multiple Choice Which of the following are true regarding ethical behavior? A. reduced employee turnover. 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. (C) make students who know how to plagiarize well acceptable to employers 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. 1. The concern businesses have for the welfare of society, not just for their owners is: Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. Ethical management generates trust, and trust increases productivity. D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. False. We covered: How data teams can actually design ethical ML models, after . D. management is insensitive to ethical issues. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. 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. A. Internet 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. C. to attract new customers and retain existing customers. employees and internal public relations B. 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. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. A. the breakdown of traditional religious institutions. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . customers is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . B. clarifying what green means An environmentally friendly business: operates in a sustainable manner, causing minimal damage to the environment and using renewable resources where possible considers where its supplies come from and how they are madeit will work with environmentally responsible suppliers and source materials locally to reduce its carbon footprint setting a good example. (B) make employers reluctant to hire those who have cheated D. varies from industry to industry. Ethics can be rooted in belief or the pursuit of making the world better. True Dodd-Frank Wall Street Reform and Consumer Protection Act. Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Which step is the most critical to help improve business ethics? Though there are many ethical opinions that most people share, ethics will differ from person to person. 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 . Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. Full-time co-workers 3. D. Pricing practices This is the third year of operations for the company. [C] To increase employee turnover Maria Juarez is a professional tennis player, and your firm manages her money. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. Reevaluating its ethics codes based on the input of its customers. Multiple Choice requiring suppliers to be evaluated monthly concerning A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. B C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and Business ethics concerns ethical dilemmas or controversial issues faced by a company. that they can improve their own financial health by investing in companies whose goods and services benefit the community An ethically managed business helps to reduce employee turnover. Multiple choice question. In "Two Kinds," how does the narrator feel after the talent show? (A) have fewer loyal customers but attract more of them Which of the following represent examples of how corporations set positive standards of ethical behavior? Which of the following statements is false? D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? opportunity influence ethical behavior Multiple select question. Global Business Ethics. A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization.

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