B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and B. B. Dodd-Frank Wall Street Reform and Consumer Protection Act 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 C. Operational initiatives Trustworthiness. The deliberative system leads to more-ethical behaviors. A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? 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 requiring suppliers to be evaluated monthly concerning (A) likely to perform better financially In the long run, they believe decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? Which step is the most critical to help improve business ethics? 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. firms should take added caution not to support government programs that protect the environment. Explanation 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. 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. (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 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. 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.. Business Ethics refers to carrying business as per self-acknowledged moral standards. [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. B 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. 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. Supervisor 4. B. disgruntled workers manipulating budgets and expenses. B. A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . (D) occur in only a few countries. only to compete and make a profit Then, of course, there are the more serious consequences of highly unethical behavior. The concern businesses have for the welfare of society, not just for their owners is: \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ Multiple choice question. Governments The moral and ethical standards by which leaders are judged are far stricter than in the past. [C] lack of trust in the free market system promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Demanding Ethical and Socially Res, Intro-Into-Business: Ch. 2. Multiple select question. Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. False. [C] allows them to reach specific groups more directly Companies that participate in CSR typically have more loyal employees and customers. There are a wide variety of examples of ethical behavior in the workplace. 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 A. delight them with a quality product at a fair price. D. buying the company's products. 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 is not one of the approaches associated with corporate social responsibility? List the most influential on top. Ethics may seem like an intangible, but there is a clear connection to overall performance. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. But when they do, employees need to take accountability for their actions. \text{ } & \text{Per Unit} & \text{Total}\\ A business starts with the correct usage and allocation of finances and cost management. Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. employees and internal public relations B. helping others Explanation An ethically managed business helps to reduce employee turnover. only with their responsibility to their shareholders U.S. companies tend to overlook and forget human rights abuses abroad. D. Improved awareness of the relevant laws. Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. D. management is insensitive to ethical issues. A. Whistleblower corporate social initiative Written ethics codes can be categorized as 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. 1. D. concern for the welfare of society. It does not subtract from the bottom line; it adds to it. A. profits. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. C. business exists only to make money for shareholders. 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} Deceptive advertising of medicines and toys 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? global policy Compliance-based ethics codes draw more customers, Many investors believe [A] To attract customers 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. (B) make employers reluctant to hire those who have cheated allows them to reach specific groups more directly, allows them to connect directly with customers 22. ignoring both ethical and unethical behavior Which of the following are reasons a business should be managed ethically? an individual's ethics Multiple select question. It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. For example, international bank HSBC was subject to a decade-long enforcement action costing it $1.92 billion after the federal government determined the institution violated money-laundering laws and sanctions rules. Its premise is based on integrity, fairness, and respect for others. whistleblowers. Businesses should create and display their code of ethics publicly. customers 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. Ethical behavior positively impacts a businesss financial performance. 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. Recently, top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and to list negative occurrences that supervisors observed. the collection of laws to protect society from fraud, theft, and violence. it attracts and retains customers It is actually a structure of moral principles and code of conduct applicable to a business. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: customers 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: Multiple choice question. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. Reevaluating its ethics codes based on the input of its customers. Business ethics benefits the bottom line. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. higher ethical standards than in the past. formal and informal. that they can improve their own financial health by investing in companies whose goods and services benefit the community (B) it is using investors' money in ways they did not intend [C] making businesspeople more accountable for their actions The Sarbanes-Oxley Act and Ontario's Bill C-198 were both passed to A. punish those who committed accounting fraud in the late 1990s. hiring only women and minorities They need to take responsibility for what happened and be proactive in fixing it. unethical corporate social responsibility, Corporate social responsibility is when businesses are concerned Here are five reasons why you should keep things legal and follow business ethics in accounting. decreased financial donations and eliminated support in almost every way. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. aggregate independent appraisal. 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. [C] it reduces the likelihood of lawsuits by employees or customers Which of the following were not identified as being fundamental to the CSR definition? [B] it increases the likelihood of government intervention Multiple choice question. benevolence can lead to a vote of no confidence by company stakeholders. Explanation (A) matter very little to employers \text{Direct materials} & \text{\$ 3.10}\\ 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. ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ C. helps government officials develop appropriate legislation. 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. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. Unfair competitive practices in the computer industry Part-time co-workers. It does not subtract from the bottom line; it adds to it. Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. Though there are many ethical opinions that most people share, ethics will differ from person to person. The employment of ethical business practices can enhance overall corporate health in three important areas. \text{Total production cost} & \text{\$ 9.20}\\ Executives at Enron and Tyco were found guilty ____________ of behavior that damaged their companies' reputations, The emergence of the green movement has affected businesses by. D. expanding the opportunity to behave ethically by providing punishments for following the rules. Businesses can show their CSR in many ways. Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. D. companies who are perceived as being socially responsible will ultimately earn more profits for their Here are other common examples of ethical behavior: No matter the relationship between two people and what they agree or disagree upon, people within an organization should always respect each other. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. 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. Reevaluating its ethics codes based on the input of its customers. A. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. C. Accounting fraud [A] is costly, but worthwhile in reaching specific customers Multiple Choice setting a good example. True 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. actual ethics. D. shift the production of goods to foreign facilities and layoff Canadian workers. Multiple choice question. CSR can lead to even more profits. These define the company's guiding values, and most often it involves shared accountability. C. often experience customer loyalty problems. reducing regulations about labeling This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. Chapter 4. [D] They may choose to cancel orders when there are environmental abuses. 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. Top leaders from other countries have been charged with bribery. Therefore, it is the most significant resource to run or upgrade any business. Compliance-based ethics codes focus on: Synonym Discussion of Ethical. to increase employee turnover (C) make students who know how to plagiarize well acceptable to employers Team and business confidence. [D] businesses with good reputations attract customers. Business ethics isnt always exalted in every workplace, but its critically important when it comes to providing customers with quality service, adhering to regulatory compliance standards, and avoiding steep fines and lawsuits. D. Mayhem True going to save money by not hiring those who are disabled (C) occur in many countries An environmentally friendly business: operates in a sustainable manner, causing minimal damage to the environment and using renewable resources where possible considers where its supplies come from and how they are madeit will work with environmentally responsible suppliers and source materials locally to reduce its carbon footprint (C) likely to perform worse financially statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility Multiple Choice going to lose money by providing pay raises 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. China is a communist country. Top management leaving unethical behavior unpunished [B] They may choose to cancel orders when there are human rights abuses. Multiple Choice Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. A. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. compliance police. Vanessa recognizes this as a(n) ________-based code of ethics. internal search and occupy organizations. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. Other countries also follow capitalist principles. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that The term business ethics refers to the set of moral principles that guides a company's conduct. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . A. Overstating an expense report. reaches broad and diverse groups Community members are bound by the pursuit of common values and goals. $A supervisor would have to be hired to oversee production of the starters. Which of the following statements is false? Though discrimination and harassment laws have been put in place and continue to be updated . Safe working conditions 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. An organization's managers instill corporate values and _____________________ in employees by the examples they set. allows them to reach specific groups more directly. an individuals behavior is influenced by the behavior of others. Today, as many Americans (64%) say that a company's "primary purpose" should include "making the world better" as say it should include "making money for shareholders." B. varies even among those who are interested in corporate responsibility. An appearance of conflict exists when a reasonable person looking at the situation from outside (and without personal knowledge of anyone involved) will conclude from the circumstances that the employee's ability to perform his or her duties may be compromised by personal interest. Ethical standards are different from country to country. corporate beneficial management U.S. law does not require U.S. firms to comply because of competitive advantage concerns. C. moral philosophy. The purpose of a code of ethics is to guide employees in handling ethical dilemmas. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. Multiple choice question. C. a loss of employee commitment and trust in the company and its management. A. [B] most of those who caused the crisis going to jail The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Top management 4. Is it acceptable if everyone else is doing it? Top management at Lancer Distributing is convinced that they have a social responsibility to their community. (B) going to save money by not hiring those who are disabled social policy C. providing all relevant information about current and projected performance of the firm. responsible management of human resources, responsible management of human resources. It's the age-old reality: "Out-of-sight, out-of-mind." Mistakes and misunderstandings are bound to happen in any work setting. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. Employees and management alike can work together to create businesses that have high standards. This includes managers and subordinates, peers and clients. Customers analysts. They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. it reduces laws and regulations Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. What occurs when an employee exposes an employer's wrongdoing to outsiders? Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. 2. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. 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 clear set of rules and regulations \text{Variable manufacturing overhead} & \text{0.60}\\ In "Two Kinds," how does the narrator feel after the talent show? False. social impact program. C. commitment to a management training program. B. an individual's behaviour is influenced by the behaviour of others. Multiple choice question. _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. D. Outsourcing practices He also believed anything other than that would be considered: fascism [A] it reduces employee turnover D. stockholders. The most basic question in an ethics-based management system is. If an underlined word is already in the correct possessive form, write a C on the line. B. True asking suppliers to lower their standards to be in compliance with An organization's managers instill corporate values and _____________ in employees by the examples they set. (A) are just part of doing business 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. A Understanding that individual moral standards, the influence of managers and coworkers, and Explanation It may just be the cornerstone of your success. A business should be managed ethically because, businesses with good reputations attract customers. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? Shared accountability among employees. How are these two rates measured? Who sets the standards of right and wrong as defined by ethics? Multiple choice question. punishing unethical behavior and rewarding ethical behavior privately . Product safety E. A criminal lawsuit. If an ethical tone is set at the top and followed by management, everyone who works there will hold themselves and each other to those standards. A company that has socially responsible human resources management is Ethical management generates trust, and trust increases productivity. An important factor in enforcing an ethics code is: Multiple Choice They should display behavior that is honest and fair in their relationships with co-workers and their clients. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Business ethics helps to optimize company resources. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: (B) it attracts and retains customers Decorating Arrangements has just completed operations for the year ended December 31, 2016. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? [C] can be trusted to maintain confidentiality C. teamwork eliminates a need for personal ethics. (C) attract and retain better employees Many businesses believe that they should have an influential and important role in: Societies set the standards for moral behavior, known as, About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through __________ work.
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