Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. Multiple Choice Ethical Behavior Is Essential to Business - Business News Daily social order ethics Multiple Choice Cari Miller, MBA, CMP, FHCA - Sr. Principal - LinkedIn When Paulsen describes Storm, he also gives clues about his own personality. C. help laid-off employees get their jobs back. Emphasizes strong penalties for wrongdoers D. Improved awareness of the relevant laws. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . free from the concern of Explanation Multiple choice question. Explanation Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Taking Advantage of the Advantages: Gifts, Bribes, and Kickbacks Its premise is based on integrity, fairness, and respect for others. Multiple select question. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: A. D. fail to earn sufficient profits for their owners. 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. A. responsibility Personal projects Society Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. C. moral philosophy. The findings reveal that quality service and an ethical business plan are essential to long-term business success. How Managers Can Encourage Ethical Behavior | Principles of Management unethical Top management 4. Strict global regulations require it. Ethical behavior positively impacts a businesss financial performance. There are a wide variety of examples of ethical behavior in the workplace. B. Multiple Choice \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ D. Integrity watchdog. corporate social initiative actual ethics. Organizational ethics begins Multiple Choice at the top levels of management. If an underlined word is already in the correct possessive form, write a C on the line. [B] They may choose to cancel orders when there are human rights abuses. TV ads [B] To maintain a good reputation 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. Dodd-Frank Wall Street Reform and Consumer Protection Act decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Managing data ethics | Deloitte Insights \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ All else held equal, socially responsible firms: A. are viewed more favourably by consumers. B. disgruntled workers manipulating budgets and expenses. [B] reaches broad and diverse groups Multiple choice question. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. Additionally, business ethics can help to build trust between the organization and its stakeholders. Often, business ethics involve a system of practices and procedures that help build trust with the. increased their financial donations because they understood how badly society needed a helping hand. And could be pivotal for career growth. 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. A business should be managed ethically because, businesses with good reputations attract customers. It is a set of guidelines for dealing with various procedures ethically. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? A. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. A. reduced employee turnover. [D] allows them to connect directly with customers. By being ethical, leaders can foster an environment that rewards and encourages good attitudes. B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. She has asked you to give her information about what determines the level of various interest rates. [D] severe financial crises. 8 Mini-Case Study, Intro-Into-Business: Ch. The mortgage bankers and real estate companies who helped create the financial crisis of 2008 were driven by, Financial and political leaders can restore trust in the free market system by: Research has shown that companies engaged in corporate social responsibility (CSR): statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility Explanation Part-time co-workers. C. It is the law in the U.S. D. Employees. tax officials. Emphasizes strong penalties for wrongdoers Resource procurement and consumption practices B. ERIC - EJ817941 - Using Ethics Vignettes in Introductory Finance lose sales revenues (D) going to lose money by providing pay raises, A business should be managed ethically because One strategy guaranteed to displease your customers is to: ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. C. Watch tower sentinel D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. 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. Marketing, Finance, Sales), technical roles (e.g. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. C. Increased penalties for code violators. China is a communist country. only to compete and make a profit Ignoring hazardous job conditions that exist in the company's facilities [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. secondary market companies. Whistleblowers are insiders who report illegal or unethical behavior. Multiple choice question. Explanation There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. [A] Influence peddling A. He also believed anything other than that would be considered: Multiple choice question. Resource procurement and consumption practices (B) have higher turnover Which of the following is a reason why a business should be managed ethically? clarifying what green means using recyclable packaging D. employee retaliation by doing the minimum needed to get by. Multiple select question. Multiple choice question. When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that Which of the following would be a unique focus of an integrity-based ethics code? 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. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? Reading: Global Business Ethics | International Business - Lumen Learning [A] outsourcing enforcement of the laws to private firms Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. Packaging requirements 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} (nervous). My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. The authors start from the assumption that most people wish to behave ethically. Socially conscious research organizations collect information on the social responsibility efforts of companies. Startup Costs: How Much Cash Will You Need? Explanation integrity-based ethics Business Ethics: Definition, Principles, Why They're Important Corporate policy refers to the position a firm takes on ______________ and __________________ issues. They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. C. Accounting fraud create an open-door policy, protect them from retaliation [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is firms should take added caution not to support government programs that protect the environment. Many companies information technology C. all levels of management. Then, of course, there are the more serious consequences of highly unethical behavior. B. improve corporate profits. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. These actions are [C] The U.S. government will use military force to enforce labor laws.. True false question. [C] conducting objective investigations Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. Though discrimination and harassment laws have been put in place and continue to be updated . Why Is Ethical Decision Making Important? - Lisa Jeffs school districts D. maximizing their investment in the firm. D. Outsourcing practices In turn, employees will trust that their leadership team is working toward the greater good of the entire company. (A) are just part of doing business Becoming an environmentally friendly business | Business Queensland [C] it reduces the likelihood of lawsuits by employees or customers In this episode of Experiencing Data, Chenda and I explore her actual methods to designing ethical AI solutions as well as how she works with UX and product teams on ML solutions. Which of the following is the BEST reason for a business to be managed ethically? Marilena Crsteanu - International Customer Experience Advisor Determining what is involved for a firm to be socially responsible: A. is easy. 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. [B] share all information with managers when requested Both positive and negative activities are measured. What are the causes of pay discrimination in the labor market? Explanation Periodically asking every employee to evaluate the company's ethics performance. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. Shared accountability among employees. going to lose money by providing pay raises (C) 4 out 5 citizens volunteer an hour each week standards. It is actually a structure of moral principles and code of conduct applicable to a business. \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ Multiple select questions. Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. A. Whistleblower The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. corporate inclusion policy 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. is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . a clear set of rules and regulations Multiple select question. [D] Political risk taking. D. concern for the welfare of society. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. compliance police. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. Even small companies participate in _______ through donations and volunteer support of local causes and national charities, such as the Red Cross and the United Way. 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 C. providing all relevant information about current and projected performance of the firm. Those who argue in favour of corporate social responsibility suggest that: Defines an organization's guiding principles. Responsible business behavior depends on the responsible behavior of each ______ in the business world. 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. Study 19 Terms | Philosophy Flashcards | Quizlet enjoy greater employee loyalty to increase employee turnover Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. These examples of ethical behaviors ensures maximum productivity output at work. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. because strict global regulations require it Corporate values are: An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. [D] They may choose to cancel orders when there are environmental abuses. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are 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 policy general guiding values plan to maximize profits for shareholders to spend in communities Multiple select question. E. All of the answers are correct. corporate responsibility Business Ethics - Quick Guide - tutorialspoint.com Which of the following represent examples of how corporations set positive standards of ethical behavior? The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. B. because strict global regulations require it. Corporate responsibility It does not subtract from the bottom line; it adds to it. ignoring both ethical and unethical behavior Strategic partnering How to Design an Ethical Organization - Harvard Business Review The moral and ethical standards by which leaders are judged are far stricter than in the past. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. True false question. The deliberative system leads to more-ethical behaviors. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Periodically asking every employee to evaluate the company's ethics performance. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. enjoy greater employee loyalty B. an individual's behaviour is influenced by the behaviour of others. E. help restore confidence in Corporate America and Canada. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. Compliance-driven ethics standards \text{Direct labor} & \text{2.70}\\ G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . C. teamwork eliminates a need for personal ethics. How Does 401(k) Matching Work for Employers? [A] it reduces employee turnover increased financial donations to local areas but pulled away from national and global contributions. Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. What is the best reason for a business to be managed ethically? C. commitment to a management training program. These define the company's guiding values, and most often it involves shared accountability. True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Whistleblowers are often concerned about retaliation. allow for complete anonymity What does the research into business ethics say? benevolence can lead to a vote of no confidence by company stakeholders. A business should be managed ethically for many reasons to maintain a good. The rent charge above is based on space utilized in the plant. [C] can be trusted to maintain confidentiality On the flip side, a leader who personifies ethical behavior will be fair in all situations. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? Businesses must abide by some basic principles. 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. corporate policy Suppliers A New Model for Ethical Leadership - Harvard Business Review Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. requiring suppliers to be evaluated monthly concerning B. being socially responsible is all about being ethical. Notes. Practice deception regarding product safety issues. \text{ } & \text{Per Unit} & \text{Total}\\ [C] only to compete and make a profit internal search and occupy organizations. Which of the following is NOT a part of an integrity-based ethics code? C. the increase in lawsuits used to avoid personal responsibility. Chapter 4 - Homework ( Introduction To Business) - Quizlet that they can improve their own financial health by investing in companies whose goods and services benefit the community B. expressing dissatisfaction by protesting. When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: The statement by Patagonia that "A love of wild and beautiful places demands participation in the fight to save them, and to help reverse the steep decline in the overall environmental health of our planet" is an example of: Attracting and retaining better employees is an example of a corporate social responsibility: Unethical behavior in business, especially in the real estate and banking industries, has resulted in of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. The international Day Of Pe, Chapter 3 Doing Business in a Global Markets, Byron Almen, Dorothy Payne, Stefan Kostka, The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Eric Hinderaker, James A. Henretta, Rebecca Edwards, Robert O. Self, Spring 2018 Final Exam Review Chapters 8,9,10. Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. Multiple Choice Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. Backend and front-end engineers, data scientists) as well as designers and UX researchers to bring products to life that make our users' problems and pain-points go away!<br><br>As a product manager I have to wear different hats every day and I excel at . ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. human resource support staff Internal Audit Company Protection Act Rank the following jobs according to their importance in influencing the implementation of ethical standards. Its easier for a business to retain employees when they work for a company that they believe in. draw more customers, Many investors believe 2. C. Investor relations Other countries also follow capitalist principles. Compliance-based ethics codes Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. Ethics in the workplace: the ethical manager | HRZone (B) it attracts and retains customers concern for the welfare of society I'm a Product Manager with experience working cross-functionally with business roles (e.g. Chapter 4 LearnSmart Quiz Flashcards | Quizlet A. HR professionals sometimes face ethical or moral dilemmas. Are Workplace Politics Destroying Your Business? What Are Business Ethics? Definition, Types and Examples (A) it prevents government audits The World Trade Organization (WTO) acquisition stalking. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. reaches broad and diverse groups A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . This will ensure the stability of all structural parts, help to form a sense of belonging to one community with the same goals and aspirations. An organization's managers instill corporate values and _____________________ in employees by the examples they set. Ethical issues are limited to for-profit organizations. 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. If the verb is already correct, write C above it. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: In one such study, led by Kaifeng Jiang, a professor at the Ohio State University Fisher College of Business, researchers examined the intersection between the quality of service a business offers and its adherence to ethical mores by looking into conditions at nearly 200 movie theaters. Stresses shared accountability government-supported direct mail campaigns Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. It may just be the cornerstone of your success. . E. law. Example 1. investors. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. An important reason for a company to maintain its ethical reputation is School McMaster University; Course Title COMMERCE 1E03; Type. (D) make more money for investors in the short run. 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. Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; Business principle (3) Flashcards | Quizlet 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. Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. A business should be managed ethically for many. (C) occur in many countries 8 Current Ethical Issues in Business (and How to Manage Them) This will ensure that you have trustworthy employees working for you. 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. punishing unethical behavior and rewarding ethical behavior privately Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. Which of the following should help reduce the incidence of unethical behavior in an organization? (A) have fewer loyal customers but attract more of them [B] Bribery 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.
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