A business should be managed ethically because Multiple select question. An important factor in enforcing ethics codes is selecting a(n) ________ ________. Multiple choice question. The majority of CEOs blame unethical employee conduct on: Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. Prepare computations showing how much profits will increase or decrease as a result of making the starters. A business's responsibilities to its owners and investors include Strict global regulations require it. D. concern for the welfare of society. reaches broad and diverse groups How to Manage a Business Effectively (7 Key Elements) A. \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ B. focus on cost and quality control systems within your organization. The ethics code must be enforced. Top management is essentially conducting a(n) The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. We covered: How data teams can actually design ethical ML models, after . Your boss has prepared some questions for you to consider. It's the age-old reality: "Out-of-sight, out-of-mind." Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be Multiple Choice Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. It does not subtract from the bottom line; it adds to it. When Paulsen describes Storm, he also gives clues about his own personality. 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. Multiple select question. Decorating Arrangements has just completed operations for the year ended December 31, 2016. Motivation. hiring only women and minorities B. Whistleblowing C. Plagiarism Top management at Lancer Distributing is convinced that they have a social responsibility to their community. How can. internal search and occupy organizations. Increased control over employee actions. social justice. (A) investors putting more money into both markets allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: Multiple Choice Specific decisions made by your organization, whether by an individual or the entire group, can have a massive impact on how your company is viewed and the reputation it cultivates for itself. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ C. to attract new customers and retain existing customers. Research has shown that companies engaged in corporate social responsibility (CSR): A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. A. reduced employee turnover. The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . [C] can be trusted to maintain confidentiality 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. Business ethics benefits the bottom line. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. A. 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. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. And could be pivotal for career growth. analysts. The side effects are so great that the society urges that the business should always be ethically and socially responsible. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Packaging requirements Explanation False. (D) long jail terms for those who acted unethically. Business Ethics - A Successful way of conducting business corporate raider divisions. 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. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? C. structure and strategy. With regard to socially responsible behavior, American businesses are The World Trade Organization (WTO) Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. True When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. 1. 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. (B) 3 out of 4 citizens think they should be paid for their volunteer work 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. (D) affect hiring practices very little. leaving unethical behavior unpunished likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." whistleblowers 8 Mini-Case Study, Intro-Into-Business: Ch. B. an individual's behaviour is influenced by the behaviour of others. [B] allowing management to decide the outcomes of investigations True (A) it prevents government audits When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. To allow whistleblowers to come forward with information organizations should the collection of laws to protect society from fraud, theft, and violence. (A) matter very little to employers It is a set of guidelines for dealing with various procedures ethically. Ethics in the Workplace: Examples & Tips | PayScale It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. A. integrity-based ethics Multiple choice question. Business Ethics - Stanford Encyclopedia Of Philosophy Part-time co-worker 3. Study 19 Terms | Philosophy Flashcards | Quizlet Emphasizes strong penalties for wrongdoers Shared accountability among employees. 051-Methods for Designing Ethical, Human-Centered AI with Undock Head C. Operational initiatives American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. [A] it reduces employee turnover (C) attract and retain better employees 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. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. Morality codes Explanation America's CEOs Seek a New Purpose for the Corporation Whistleblowers are insiders who report illegal or unethical behavior. A Understanding that individual moral standards, the influence of managers and coworkers, and Socially conscious investors insist that a company extend its own high standards to its ____________________. It emphasizes sustainability, customer loyalty, brand image, and employee retention. Business Ethics - Overview, Examples, Components of Business Ethics C. Research practices Personal projects 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 . Multiple select question. an individuals behavior is influenced by the behavior of others. [B] it increases the likelihood of government intervention compliance-based Compliance-driven ethics standards 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. Article. The firm has evolved into a big business due to quality and innovative work. 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 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 Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. 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. because strict global regulations require it Corporate values are: Which of the following are reasons a business should be managed Amber was observing an example of the ___________ followed at this organization. Which of the following are true regarding ethical behavior? A. (C) likely to perform worse financially It could also mention specific protocol within the business. A. Overstating an expense report. (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 Unethical behavior by financial and real estate businesses has led to $A supervisor would have to be hired to oversee production of the starters. Displaying good ethical behavior can boost company morale and client relations. Multiple Choice (A) likely to perform better financially In a business setting, ethical behavior applies to any employee, team lead or supervisor. Many companies believe they have a role in promoting ______________ ___________________ , so they donate to local food banks, promote literacy, and provide computer lessons for inner city children. Then, of course, there are the more serious consequences of highly unethical behavior. [C] The U.S. government will use military force to enforce labor laws.. This, then, creates greater stability within the company.. free from the concern of Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. ethical officers Its premise is based on integrity, fairness, and respect for others. Cari Miller, MBA, CMP, FHCA - Sr. Principal - LinkedIn The rent charge above is based on space utilized in the plant. "It's an ongoing phenomenon that must be better understood and managed and . Scandals. allows them to connect directly with customers help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? 'Business' can mean an activity of exchange. It is an act that is against the law and against Securities and Exchange Commission policy. A. Internet The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. 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. Vanessa recognizes this as a(n) ________-based code of ethics. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. standards. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. clarifying what green means Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. Example 1. A business should be managed ethically for many reasons: to maintain a good reputation; to keep existing customers and attract new ones; to avoid lawsuits; to reduce employee turnover; to avoid government intervention; and to please customers, employees, and society. Suppliers 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. _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Which of the following represent examples of how corporations set positive standards of ethical behavior? An ethical business will get your employees to respect your company . Thinking Ethically - Markkula Center for Applied Ethics whistleblowers. Explanation B. In a business setting, ethical behavior applies to any employee, team lead or supervisor. Multiple Choice Full-time co-workers Multiple Choice Therefore, it is the most significant resource to run or upgrade any business. Due to the fact that it is not yet public, those who act upon the information have an unfair advantage and stand to gain financially. firms should take added caution not to support government programs that protect the environment. corporate social responsibility, Corporate social responsibility is when businesses are concerned One strategy guaranteed to displease your customers is to: [C] allows them to reach specific groups more directly Maria Juarez is a professional tennis player, and your firm manages her money. Companies True false question. The many small choices we make daily about working or goofing off, using company phones and computers responsibly, and following safety rules, make it clear that __________ decisions start with each individual. Multiple select question. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. Explanation Multiple choice question. C. all levels of management. for the welfare of society as a whole, about being fair and honest with their stakeholders A. socialism 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. Why Is Ethical Decision Making Important? - Lisa Jeffs There are a wide variety of examples of ethical behavior in the workplace. Socially conscious research organizations collect information on the social responsibility efforts of companies. [B] about being fair and honest with their stakeholders Deceptive advertising of medicines and toys C. diversity 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. Explanation Which of the following describes charitable donations by corporations to nonprofit organizations? Why a Business Should be Managed Ethically? - The Business Guru moral impropriety. What Are Business Ethics? Definition, Types and Examples Ethical problems such as influence peddling and bribery: Maximizing ethical conflict in work groups Which of the following is NOT a part of an integrity-based ethics code? The total rent on the plant is$80.000 per period. Value (ethics and social sciences) - Wikipedia D. Integrity watchdog. A. Ethical Definition & Meaning - Merriam-Webster (nervous). 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. Notes. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. global policy Businesses can show their CSR in many ways. general guiding values What Does Ethical Decision Making Mean? True false question. D. shift the production of goods to foreign facilities and layoff Canadian workers. Corporate social responsibility describes the firm's: A. responsibility to their stockholders. A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? What is ethical is determined by the public, government regulators, interest groups, competitors and each individuals personal moral values, Studying business ethics will not necessarily, Inform you concerning the impact of the work group on ethical decisions. A. code of ethics. Ethical behavior has significant upfront costs which may never be recovered. corporate raiders. Emphasizes strong penalties for wrongdoers 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? responsible management of human resources, responsible management of human resources. called stakeholder interest Managing data ethics | Deloitte Insights Which of the following are examples of outside stakeholders that must be told about a company's ethics program? allow for complete anonymity List the most influential on top. secondary market companies. A. Ignoring hazardous job conditions that exist in the company's facilities A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. I'm a Product Manager with experience working cross-functionally with business roles (e.g. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. socially conscious research organizations. social audit. They should display behavior that is honest and fair in their relationships with co-workers and their. C. Education and training 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. E. help restore confidence in Corporate America and Canada. Explanation Multiple choice question. 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. The first day on the job waiting tables at a popular restaurant, Amber noticed that when one member of the waitstaff was serving a very large party, the other waiters would help carry food to the tables and even check to make sure water glasses were filled.