a business should be managed ethically because

allow for complete anonymity True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management (nervous). Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. Multiple choice question. [D] requiring all bankers to sign ethical codes. A. Overstating an expense report. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. Suppliers 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. Multiple Choice corporate raiders. This includes managers and subordinates, peers and clients. An important factor in enforcing an ethics code is: Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet He also believed anything other than that would be considered: leaving unethical behavior unpunished Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. Explanation Which of the following are reasons a business should be managed ethically? increased their financial donations because they understood how badly society needed a helping hand. 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. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. An ethical business will get your employees to respect your company . There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. [B] allowing management to decide the outcomes of investigations offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. The ethics code must be enforced. C. help laid-off employees get their jobs back. A. you need to justify socially responsible behaviour from an investors standpoint only. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. only with their responsibility to their shareholders responsible management of human resources, responsible management of human resources. 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. 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. Multiple Choice Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Which of the following would least likely involve ethical concerns? (A) likely to perform better financially Multiple Choice \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ Studies have found a _____ correlation between academic dishonesty and dishonesty at work. Reevaluating its ethics codes based on the input of its customers. 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: [D] To avoid lawsuits, Effective ethics officers: [D] They may choose to cancel orders when there are environmental abuses. standards. D. the nation's business schools that tolerate unethical behaviour in students. Think about a business that hires only family or one that gives inappropriate incentives, for example. Deceptive advertising of medicines and toys decreased financial donations and eliminated support in almost every way. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. Heres How to Fix It, 10 Common Leadership Mistakes Youre Probably Making, Creating a Diversity and Inclusion Training Program, How to Be an Ethical Leader: 10 Tips for Success, Disrespectful Employees? Both positive and negative activities are measured. $A supervisor would have to be hired to oversee production of the starters. The authors start from the assumption that most people wish to behave ethically. customers (A) 3 out of 4 citizens do not give any time to the communities in which they live Multiple choice question. \text{ } & \text{Per Unit} & \text{Total}\\ C. providing all relevant information about current and projected performance of the firm. 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 . [D] businesses with good reputations attract customers. Marketing, Finance, Sales), technical roles (e.g. B. ability to plan for the unexpected. Those who have others interests in mind when they make decisions are displaying ethical behavior. When there is a base level of respect established, people take criticism less personally, are able to communicate more openly, and can see and value the other persons perspective. 8 Current Ethical Issues in Business (and How to Manage Them) False. C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics insider trading. likely to perform better financially Reevaluating its ethics codes based on the input of its customers. Example 1. 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. After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. [C] can be trusted to maintain confidentiality Top management 1. Multiple select question. actual ethics. The primary value of using social media to communicate CSR efforts is that it allows companies to reach broad and diverse groups, allows them to connect directly with customers in a low-cost, efficient way, and enables them to interact with specific groups more easily than through more traditional efforts. Multiple Choice Multiple choice question. Explanation Those who argue in favour of corporate social responsibility suggest that: Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. lower ethical standards than in the past. List the most influential on top. They should display behavior that is honest and fair in their relationships with co-workers and their. Which of the following is not one of the approaches associated with corporate social responsibility? 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. Mistakes and misunderstandings are bound to happen in any work setting. C. writing their representatives in Congress. The Importance of Business Ethics | Maryville Online Explanation These examples of ethical behaviors ensures maximum productivity output at work. A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. Whistleblowers are insiders who report illegal or unethical behavior. Multiple choice question. it makes financial as well as moral sense to invest in companies that plan to create a better environment, that they can improve their own financial health by investing in companies whose goods and services benefit the community social media. E. help restore confidence in Corporate America and Canada. 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. Intro. business chapter 5 Flashcards | Quizlet Multiple select question. B. enjoy significantly higher profits. Unfair competitive practices in the computer industry It seeks to promote honesty, fairness, and responsibility in all advertising. increased financial donations to local areas but pulled away from national and global contributions. Study 19 Terms | Philosophy Flashcards | Quizlet additional taxes Corporate responsibility punishing unethical behavior and rewarding ethical behavior privately D. management is insensitive to ethical issues. D. shift the production of goods to foreign facilities and layoff Canadian workers. B. an individual's behavior is influenced by the behavior of others. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. Integrity-driven ethics codes Ch 4 Flashcards | Quizlet Maria Juarez is a professional tennis player, and your firm manages her money. 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. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. (D) occur in only a few countries. insider trading. An organization's managers instill corporate values and _____________________ in employees by the examples they set. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that \text{Variable manufacturing overhead} & \text{0.60}\\ 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. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. (D) 3 out of 4 citizens volunteer, but cheat on their taxes, Using information from the internet or other sources without giving credit to the author is, The strong relationship between academic dishonesty and dishonesty at work is likely to a clear set of rules and regulations B. a failure of leadership to establish ethical standards. (B) it is using investors' money in ways they did not intend varies among those who are interested in corporate responsibility. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ How to Manage a Business Effectively (7 Key Elements) B. varies even among those who are interested in corporate responsibility. \end{array} Socially conscious research organizations collect information on the social responsibility efforts of companies. By being ethical, leaders can foster an environment that rewards and encourages good attitudes. 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 Ethics in the workplace: the ethical manager | HRZone [A] making the charges public before the investigation demanding that international suppliers adhere to higher, more costly standards than their American counterparts. Society Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? building parks 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. \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ Multiple select question. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. social initiatives is costly, but worthwhile in reaching specific customers Top management at Lancer Distributing is convinced that they have a social responsibility to their community. Businesses should be managed ethically because it is the right thing to do, it is legal and keeps the government from writing new laws, it is good for employee turnover, maintains a good reputation, keeps customers and attracts new ones, pleases employees and society Compliance based ethics code True false question. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. A business starts with the correct usage and allocation of finances and cost management. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. B. expressing dissatisfaction by protesting. social policy She has asked you to give her information about what determines the level of various interest rates. Organizational ethics begins Multiple Choice at the top levels of management. In the long run, CSR enhances profits. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. benevolence can lead to a vote of no confidence by company stakeholders. \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ D. fail to earn sufficient profits for their owners. Target is a business. B. improve corporate profits. C. to attract new customers and retain existing customers. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. enjoy greater employee loyalty Which of the following are examples of outside stakeholders that must be told about a company's ethics program? (C) likely to perform worse financially Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. [B] passing laws to make accounting records more transparent Top leaders from other countries have been charged with bribery. C. Accounting fraud 2. 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 Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. B. Explanation What Are Business Ethics and Why Are They Important? ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. The second major meaning behind the term is . Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. What occurs when an employee exposes an employer's wrongdoing to outsiders? C. the increase in lawsuits used to avoid personal responsibility. Which of the following is a reason why a business should be managed How can. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. investors. Packaging requirements B. philanthropy. 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. A. code of ethics. 5 Reasons Why Ethics Is Important in Accounting for Business A. the breakdown of traditional religious institutions. plan to maximize profits for shareholders to spend in communities Are Workplace Politics Destroying Your Business? Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . A. Customers social media Multiple choice question. for the welfare of society as a whole, about being fair and honest with their stakeholders D. Pricing practices Multiple choice question. Economic conditions in some developing countries make child labor a necessity for the survival of families. What is the best reason for a business to be managed ethically? profitable charities Motivation. about being fair and honest with their stakeholders [C] it reduces the likelihood of lawsuits by employees or customers based on a commitment to integrity and respect B. Typically, it is the kind of information where parties in the know can benefit. The rent charge above is based on space utilized in the plant. This indicates that: A. dancing around issues should be part of a firm's code of ethics. Becoming an environmentally friendly business | Business Queensland ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. Though there are many ethical opinions that most people share, ethics will differ from person to person. Top management is essentially conducting a(n) Explanation Displaying good ethical behavior can boost company morale and client relations. Compliance-based ethics codes How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. Eric Allgood - Managing Director - Small Business Assistance and It may just be the cornerstone of your success. Dodd-Frank Wall Street Reform and Consumer Protection Act Determining what is involved for a firm to be socially responsible: A. is easy. A. 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. B. Ethical issues are limited to for-profit organizations. From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. True D. expanding the opportunity to behave ethically by providing punishments for following the rules. 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 important factor in enforcing ethics codes is selecting a(n) ________ ________. True Economics - Wikipedia B. personal responsibility C. compliance C. structure and strategy. Whistleblowers are often concerned about retaliation. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. corporate beneficial management reaches broad and diverse groups Resource procurement and consumption practices social impact program. C. An ethics office must be set up. corporate policy B. because strict global regulations require it. B. Ethical Definition & Meaning - Merriam-Webster create an open-door policy, protect them from retaliation setting a good example. Business ethics benefits the bottom line. Explanation 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. Trust and cooperation between workers and managers must be based on which of the following? unethical social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. 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. When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. 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 is NOT included as one of the questions we must ask when faced with an ethical dilemma? They need to take responsibility for what happened and be proactive in fixing it. Multiple select question. [B] To maintain a good reputation 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. It does not subtract from the bottom line; it adds to it. Multiple select question. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. separating themselves from suppliers who violate [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is 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? general guiding values Business Ethics - Definition, Principles, Types, Examples - WallStreetMojo 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. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." Supports ethically sound behavior [A] To attract customers Discrimination and Harassment. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community.



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