a business should be managed ethically because

C. An ethics office must be set up. Governments An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. D. Improved awareness of the relevant laws. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. Compliance-based ethics codes focus on: A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. Depreciation is due to obsolescence rather then wear and tear. school districts Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. 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: 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. 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] outsourcing enforcement of the laws to private firms Should an instance occur, the result could be devastating to your company's finances and reputation. [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. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is [B] reaches broad and diverse groups Then, of course, there are the more serious consequences of highly unethical behavior. The second major meaning behind the term is . True or false: Many investors believe that by choosing to put their money into companies whose goods and services benefit society, they can improve society's financial health as well as their own. (B) 3 out of 4 citizens think they should be paid for their volunteer work 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 . Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. The firm has evolved into a big business due to quality and innovative work. [D] requiring all bankers to sign ethical codes. (B) it attracts and retains customers 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. B. Whistleblowing C. Plagiarism 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. Increased control over employee actions. B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and B. expressing dissatisfaction by protesting. Multiple select question. Top leaders from other countries have been charged with bribery. Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. [B] passing laws to make accounting records more transparent Many companies False. stockholders [A] Influence peddling A. Resource procurement and consumption practices B. [B] To maintain a good reputation Explanation (D) going to lose money by providing pay raises, A business should be managed ethically because (C) occur in many countries employees and internal public relations Often, business ethics involve a system of practices and procedures that help build trust with the. At a college, a code of ethics could include being honest and unbiased when grading and being a catalyst for diverse perspectives in the classroom. Which of the following describes charitable donations by corporations to nonprofit organizations? True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. 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. 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. 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} The purpose of a code of ethics is to guide employees in handling ethical dilemmas. In the long run, CSR enhances profits. [B] share all information with managers when requested What does the research into business ethics say? Morality codes The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. Which of the following should help reduce the incidence of unethical behavior in an organization? Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. This is the third year of operations for the company. A. 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. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. reducing regulations about labeling Multiple select question. 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. 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. varies among those who are interested in corporate responsibility. Deceptive advertising of medicines and toys D. Pricing practices Explanation The findings reveal that quality service and an ethical business plan are essential to long-term business success. Corporate social responsibility is based on a A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . A. How does the action I am proposing to take make me feel about myself? B. helping others [A] few losses to investors True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. \end{array} Which step is the most critical to help improve business ethics? Multiple choice question. whistleblowers. increased financial donations to local areas but pulled away from national and global contributions. HR professionals sometimes face ethical or moral dilemmas. C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics 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. The authors start from the assumption that most people wish to behave ethically. penalizing wrong-doers, increasing control 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 providing safety equipment and training for their workers, increasing the diversity of their workforce D. buying the company's products. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. corporate inclusion policy Defines an organization's guiding principles. Serves as full-time, tenure tracked Business Instructor for the college's Bachelor of Applied Science in Organizational Management (BAS-OM) program, teaching classroom, hybrid, and online courses. lower ethical standards than in the past. 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. social initiatives It may just be the cornerstone of your success. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ Multiple choice question. Strategic partnering An ethically managed business helps to reduce employee turnover. \text{Variable manufacturing overhead} & \text{0.60}\\ Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . draw more customers, Many investors believe In turn, employees will trust that their leadership team is working toward the greater good of the entire company. protect them from retaliation A well-implemented ethics program can also reduce losses. From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. 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. All else held equal, socially responsible firms: A. are viewed more favourably by consumers. Unfair competitive practices in the computer industry Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: Product safety Employees and management alike can work together to create businesses that have high standards. Multiple Choice True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. 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. Multiple select question. D. maximizing their investment in the firm. The majority of CEOs blame unethical employee conduct on: In fact they contribute to it: 1. 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? Which of the following represent examples of how corporations set positive standards of ethical behavior? Supervisor 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. Multiple Choice Emphasizes strong penalties for wrongdoers It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. Society building parks A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . [B] about being fair and honest with their stakeholders Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. True Putting Ethical Design into Practice. Integrity-based ethics codes businesses with good reputations attract customers it reduces the likelihood of lawsuits by employees or customers it reduces employee turnover it increases the likelihood of government intervention businesses with good reputations attract customers Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. 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. Ethical behavior can have negative consequences to the bottom line in the long run. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. [C] can be trusted to maintain confidentiality [B] They may choose to cancel orders when there are human rights abuses. There are a wide variety of examples of ethical behavior in the workplace. Emphasizes strong penalties for wrongdoers Compliance-driven ethics standards U.S. companies tend to overlook and forget human rights abuses abroad. Ethical behavior positively impacts a businesss financial performance. Prepare computations showing how much profits will increase or decrease as a result of making the starters. E. A criminal lawsuit. 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. Multiple Choice When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. going to lose money by providing pay raises [B] allowing management to decide the outcomes of investigations Ethical standards are different from country to country. C. Investor relations What are the causes of pay discrimination in the labor market? China is a communist country. Multiple select question. B. personal responsibility C. compliance In the study, researchers determined that a higher quality of service positively impacted business operations when ethical adherence was also high. Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. 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 One entity (e.g., a person, a firm) "does business" with another when it exchanges a good or service for valuable consideration, i.e., a benefit such as money. Which of the following would least likely involve ethical concerns? [B] Bribery Multiple Choice The first area is productivity. increasing the diversity of their workforce _____________________ _____________________ _____________________is a business's concern for the welfare of society. Amber was observing an example of the ___________ followed at this organization. This indicates that: A. dancing around issues should be part of a firm's code of ethics. A. analysts. \text{Direct labor} & \text{2.70}\\ B. only to compete and make a profit You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. [B] it increases the likelihood of government intervention Economics (/ k n m k s, i k -/) is the social science that studies the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work. However, it was disclosed that somehow a member of Paulie's management team mentioned the deal to a person he sat next to on a flight from LA to Seattle. unethical Which of the following is not one of the approaches associated with corporate social responsibility? social justice. 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. Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. Which of the following are examples of outside stakeholders that must be told about a company's ethics program? (B) going to save money by not hiring those who are disabled secondary market companies. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? opportunity influence ethical behavior D. fail to earn sufficient profits for their owners. Multiple select question. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. socially conscious research organizations. [C] To increase employee turnover There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Companies that participate in CSR typically have more loyal employees and customers. Tejas Vemparala also contributed to this article. C. Operational initiatives 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. Organizational ethics begins Multiple Choice at the top levels of management. capitalism Top officials in countries like Japan, South Korea, and China have faced legal charges of influence peddling and __________ charges, which serve as examples of the unethical behavior that U.S. companies face in overseas markets. B. because strict global regulations require it. clarifying what green means The rent charge above is based on space utilized in the plant. [D] favor management in their investigations, A communication tool many companies use to inform diverse groups of their social responsibility efforts at little cost is. \text{Total production cost} & \text{\$ 9.20}\\ firms should take added caution not to support government programs that protect the environment. J. M. D'Aquila, D. F. Bean, and E. G. Procario- Foley (2004) reported that 97% of business leaders perceive American businesses as ethical, versus 24.5% of students. 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. Startup Costs: How Much Cash Will You Need? According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Ethical behavior has significant upfront costs which may never be recovered. Marketing, Finance, Sales), technical roles (e.g. corporate responsibility A business should be managed ethically for many reasons to maintain a good. A business should be managed ethically because Multiple select question. (A) likely to perform better financially A. 360-review. cultural and accountable compliance-based (D) affect hiring practices very little. In "Two Kinds," how does the narrator feel after the talent show? The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. it attracts and retains customers 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 Typically, it is the kind of information where parties in the know can benefit. Multiple choice question. Multiple select question. Decorating Arrangements has just completed operations for the year ended December 31, 2016. A Understanding that individual moral standards, the influence of managers and coworkers, and standards. The most basic question in an ethics-based management system is. social impact program. social order ethics providing safety equipment and training for their workers, 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: Packaging requirements Source interviews were conducted for a previous version of this article. 'Business Ethics' can be termed as a study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. In a business setting, ethical behavior applies to any employee, team lead or supervisor. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. Its premise is based on integrity, fairness, and respect for others. \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ ", Corporate social responsibility is when businesses are concerned 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.. Which of the following are true regarding ethical behavior? Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? C. Increased penalties for code violators. It does not subtract from the bottom line; it adds to it. Its easier for a business to retain employees when they work for a company that they believe in. 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. (A) businesses who are socially responsible will earn more This sort of behavior is not limited to the workplace; it can be present in every facet of life. Multiple Choice shareholders 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 . Multiple choice question. B. varies even among those who are interested in corporate responsibility. One strategy guaranteed to displease your customers is to: ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Multiple select question. C. Corporate strategy D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: True false question. Ethics are the standards of right and wrong set for us by society, whereas legality refers to. investors. The employees of a corporation are stakeholders who are affected by management practices. Though there are many ethical opinions that most people share, ethics will differ from person to person. The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. How are these two rates measured? Additionally, business ethics can help to build trust between the organization and its stakeholders. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: B. E. all of the answers are correct. These actions are Multiple choice question. Business ethics concerns ethical dilemmas or controversial issues faced by a company. reaches broad and diverse groups Multiple choice question. The amount of pollutants a firm unleashes into the environment would serve as an example of a negative activity that would be included in the social audit measurements. Positive Effects of . allows them to reach specific groups more directly. social media Multiple select question. As a philosophy, ethics are the principles that guide a person's behaviour. Multiple Choice Multiple choice question. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ Explanation [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is Multiple Choice integrity-based ethics Those who have others interests in mind when they make decisions are displaying ethical behavior. "It's an ongoing phenomenon that must be better understood and managed and . 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? using recyclable packaging moral impropriety. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. (A) 3 out of 4 citizens do not give any time to the communities in which they live using recyclable packaging D. expanding the opportunity to behave ethically by providing punishments for following the rules.

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