a business should be managed ethically because a business should be managed ethically because

Unethical behavior by financial and real estate businesses has led to By being ethical, leaders can foster an environment that rewards and encourages good attitudes. (nervous). Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? The rent charge above is based on space utilized in the plant. A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. That person called five of his relatives and several friends. \text{Variable manufacturing overhead} & \text{0.60}\\ A. It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. Full-time co-workers profitable charities \end{array} social order ethics You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. The business term we use to describe this philanthropic action is ___________________, where a company donates what it does best to help make a situation better. [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. [D] severe financial crises. D. companies who are perceived as being socially responsible will ultimately earn more profits for their 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. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? capitalism [B] Bribery integrity-based ethics These define the company's guiding values, and most often it involves shared accountability. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. because strict global regulations require it, learned by observing the actions of others in the organization. Multiple Choice (B) lack of trust in the free market system separating themselves from suppliers who violate. Morality codes DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. internal investigation. The second major meaning behind the term is . (B) have higher turnover fascism How can. What are the causes of pay discrimination in the labor market? B. reducing most costs Which of the following would least likely involve ethical concerns? About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. punishing unethical behavior and rewarding ethical behavior privately Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. Increased control over employee actions. Codes of ethics foster ethical behavior by Those who have others interests in mind when they make decisions are displaying ethical behavior. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. 1. B. enjoy significantly higher profits. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. In addition to researching trends, reviewing products and writing articles that help small business owners, Sean runs a content marketing agency that creates high-quality editorial content for both B2B and B2C businesses. C. Education and training D. concern for the welfare of society. This, then, creates greater stability within the company.. Mistakes and misunderstandings are bound to happen in any work setting. 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 . 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. help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? E. all of the answers are correct. D. Pricing practices (C) gains for investors in 2008 and 2009 Sherman Act 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. B. focus on cost and quality control systems within your organization. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that C. to attract new customers and retain existing customers. This is due to the fact that our ethics are shaped by our moral code. 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. Which of the following were not identified as being fundamental to the CSR definition? ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. TV ads Global Business Ethics. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ D. Outsiders must be told about the ethics program. social audit. 'Business' can mean an activity of exchange. separating themselves from suppliers who violate holding international suppliers to different standards than American companies must adhere to in the United States. Demanding Ethical and Socially Res, Intro-Into-Business: Ch. D. shift the production of goods to foreign facilities and layoff Canadian workers. D. varies from industry to industry. employees and internal public relations Customers social policy it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? retain better employees Companies This is called a bounty provision because as stated, they may receive a monetary award for their actions. Multiple choice question. A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. E. All of the answers are correct. 360-review. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. The World Trade Organization (WTO) corporate social initiative A. Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. 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. Top management 4. A high ethical standard extends to customers as well. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. It's the age-old reality: "Out-of-sight, out-of-mind." using recyclable packaging demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Periodically asking every employee to evaluate the company's ethics performance. Which of the following is NOT a part of an integrity-based ethics code? Supports ethically sound behavior An important reason for a company to maintain its ethical reputation is C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. Supervisor 4. standards. Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. In a business setting, ethical behavior applies to any employee, team lead or supervisor. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. corporate social responsibility, Corporate social responsibility is when businesses are concerned A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . Multiple choice question. To manage these risks and the ethical obligations they imply, CDOs should work on developing institutional practices for continual learning and interaction with external experts. Article. If an underlined word is already in the correct possessive form, write a C on the line. Multiple choice question. After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. Supervisor Discrimination and Harassment. Top management 1. B. Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. only to compete and make a profit A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? Employees and management alike can work together to create businesses that have high standards. [D] To avoid lawsuits, Effective ethics officers: Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. Full-time co-workers 3. D. maximizing their investment in the firm. [C] The U.S. government will use military force to enforce labor laws.. B. an individual's behaviour is influenced by the behaviour of others. This is an example of corporate: \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ Rank the following jobs according to their importance in influencing the implementation of ethical standards. To allow whistleblowers to come forward with information organizations should Socially conscious research organizations collect information on the social responsibility efforts of companies. Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? A. Multiple select question. 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. She has asked you to give her information about what determines the level of various interest rates. 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? 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. Multiple Choice Putting Ethical Design into Practice. 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. Explanation setting a good example. Multiple choice question. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but social media A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. It does not subtract from the bottom line; it adds to it. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. Are Workplace Politics Destroying Your Business? Multiple choice question. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. Your boss has prepared some questions for you to consider. Explanation 8 Mini-Case Study, Intro-Into-Business: Ch. Business ethics benefits the bottom line. Ethical issues are limited to for-profit organizations. social initiatives 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. C. diversity A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. Multiple select question. Ethical behavior can have negative consequences to the bottom line in the long run. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. D. Integrity watchdog. A. protecting the owners' rights and investments. In fact they contribute to it: 1. 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. Here are five reasons why you should keep things legal and follow business ethics in accounting. Multiple choice question. Trust and cooperation between workers and managers must be based on which of the following? 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. 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} C. all levels of management. tax officials. Multiple Choice Compliance-driven ethics standards [A] few losses to investors opportunity influence ethical behavior Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. The firm has evolved into a big business due to quality and innovative work. corporate raiders. True There are a wide variety of examples of ethical behavior in the workplace. protect them from retaliation Ethical behavior has significant upfront costs which may never be recovered. social media. D. Improved awareness of the relevant laws. [A] Influence peddling (D) occur in only a few countries. D. management is insensitive to ethical issues. 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.. C. Increased penalties for code violators. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Which of the following would be a unique focus of an integrity-based ethics code? 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. Ethics may seem like an intangible, but there is a clear connection to overall performance. A. code of ethics. corporate social initiative C. business exists only to make money for shareholders. social justice. Depreciation is due to obsolescence rather then wear and tear. ", Corporate social responsibility is when businesses are concerned 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. 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. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Explanation Which of the following are reasons a business should be managed ethically? The authors start from the assumption that most people wish to behave ethically. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. Explanation Complete each sentence with the comparative or superlative form of the modifier in parentheses. Research into ethics and business performance has shown the two are linked in some important ways. D. Mayhem ethical standards that are often unreasonable and cannot be met by most leaders. All successful businesses communicate effectively. D. the nation's business schools that tolerate unethical behaviour in students. It could also mention specific protocol within the business. The concern businesses have for the welfare of society, not just for their owners is: A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. compliance-based ethics Which of the following should help reduce the incidence of unethical behavior in an organization? Businesses can show their CSR in many ways. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ It does not subtract from the bottom line; it adds to it. Synonym Discussion of Ethical. School McMaster University; Course Title COMMERCE 1E03; Type. 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. concern for the welfare of society Explanation [A] for the welfare of society as a whole 22. Studies have shown that what most influences a company's effectiveness and financial performance is: responsible management of human resources, Which of the following behaviors are illegal in the United States, but potentially put our companies at a disadvantage in overseas markets? leaving unethical behavior unpunished ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. is costly, but worthwhile in reaching specific customers 1. acquisition stalking. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. According to recent U.S. Census Bureau research volunteerism is at an all time high, but, 3 out of 4 citizens do not give any time to the communities in which they live. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. D. to please customers, employees, and society. A company that has socially responsible human resources management is \end{matrix} Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. because strict global regulations require it Corporate values are: Explanation Its premise is based on integrity, fairness, and respect for others. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. Shared accountability among employees. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. Internal auditors Why You Need to Create a Fantastic Workplace Culture, 10 Employee Recruitment Strategies for Success, Best Accounting Software and Invoice Generators of 2023, Best Call Centers and Answering Services for Businesses for 2023. (C) occur in many countries False, Whistleblowers can be helped by protecting them from: higher ethical standards than in the past. C. a loss of employee commitment and trust in the company and its management. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. 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. Is it acceptable if everyone else is doing it? Businesses should create and display their code of ethics publicly. lose sales revenues [D] They may choose to cancel orders when there are environmental abuses. Multiple Choice \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ whistleblowers. Multiple choice question. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. She was even _____ after her solo than before. C. Corporate strategy Which of the following represent examples of how corporations set positive standards of ethical behavior? Fraud penalizing wrong-doers. that only society's health is improved when they invest in companies whose goods and services benefit the community Integrity-driven ethics codes (D) long jail terms for those who acted unethically. the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. B The deliberative system leads to more-ethical behaviors. Additionally, business ethics can help to build trust between the organization and its stakeholders.