Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. Emphasizes strong penalties for wrongdoers True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. B. enjoy significantly higher profits. 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. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . compliance police. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ 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. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. [C] Paying U.S. minimum wage many Americans decide what's ethical based upon the situation in which they find themselves. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. False, Whistleblowers can be helped by protecting them from: Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. D. concern for the welfare of society. She has asked you to give her information about what determines the level of various interest rates. C. Accounting fraud reaches broad and diverse groups Financial transparency for the welfare of society as a whole, True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Think about a business that hires only family or one that gives inappropriate incentives, for example. help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? The chief engineer has recommended against this move, however, pointing out that the cost to produce the starters would be greater than the current 8.40perunitpurchaseprice:8.40 per unit purchase price:8.40perunitpurchaseprice: PerUnitTotalDirectmaterials$3.10Directlabor2.70Supervision1.50$60.000Depreciation1.00$40.000Variablemanufacturingoverhead0.60Rent0.30$12.000Totalproductioncost$9.20\begin{matrix} TV ads \text{Variable manufacturing overhead} & \text{0.60}\\ TRUE There are many reasons why a business should be managed ethically : ( 1 ) to maintain a good reputation , ( 2 ) to keep existing customers , ( 3 ) to attract new customers , ( 4 ) to avoid lawsuits , ( 5 ) to reduce turnover , ( 6 ) to avoid government intervention , ( 7 ) to please customers , employees , and society , and ( 8 ) because it is the right thing to do . additional taxes The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Multiple Choice Multiple choice question. 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 are reasons a business should be managed ethically? It is essentially a moral compass. Multiple Choice [B] They may choose to cancel orders when there are human rights abuses. C. Operational initiatives These examples of ethical behaviors ensures maximum productivity output at work. (B) make employers reluctant to hire those who have cheated enjoy greater employee loyalty [B] it increases the likelihood of government intervention 2. Although these actions were not part of the mandatory waitstaff training, Amber perceived that waitstaff members who were not helping out were not viewed as team players by the majority of employees. D. to please customers, employees, and society. In fact they contribute to it: 1. Taking Advantage of the Advantages: Gifts, Bribes, and Kickbacks Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? Internal Audit Company Protection Act D. Improved awareness of the relevant laws. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. higher ethical standards than in the past. How Managers Can Encourage Ethical Behavior | Principles of Management [A] making the charges public before the investigation 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. 3 Reasons Why Business Ethics Is Important - Redlands Multiple choice question. C. Research practices It seeks to promote honesty, fairness, and responsibility in all advertising. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. whistleblowers. Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. An ethically managed business helps to reduce employee turnover. By being ethical, leaders can foster an environment that rewards and encourages good attitudes. How to Design an Ethical Organization - Harvard Business Review corporate raider divisions. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. 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 Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. 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. Reevaluating its ethics codes based on the input of its customers. responsible management of human resources, responsible management of human resources. internal investigation. 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. (A) 3 out of 4 citizens do not give any time to the communities in which they live concern for the welfare of society A. Overstating an expense report. analysts. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. Top officials in countries like Japan, South Korea, and China have faced legal charges of influence peddling and __________ charges, which serve as examples of the unethical behavior that U.S. companies face in overseas markets. A. based on a commitment to integrity and respect and C. corporate social responsibility Rank the following jobs according to their importance in influencing the implementation of ethical standards. Global Business Ethics. With respect to business ethics, it can be said that "it takes two to tango." Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. Often, business ethics involve a system of practices and procedures that help build trust with the. 8 Mini-Case Study, Intro-Into-Business: Ch. E. filing complaints with the company. An important reason for a company to maintain its ethical reputation is 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. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. Business Should Always Be Ethically and Socially Responsible The motives of those involved in unethical behavior that caused the financial crisis in the real estate, banking, and mortgage industries included: Who sets the standards of right and wrong as defined by ethics? This is due to the fact that our ethics are shaped by our moral code. (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 is costly, but worthwhile in reaching specific customers Top management 4. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. Ethics in the workplace: the ethical manager | HRZone \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ pro-current procurement. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. Top management is essentially conducting a(n) increased financial donations to local areas but pulled away from national and global contributions. Unethical behavior by financial and real estate businesses has led to D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. ", Corporate social responsibility is when businesses are concerned Multiple choice question. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. 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. compliance-based ethics Positive Effects of . What occurs when an employee exposes an employer's wrongdoing to outsiders? A. 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. They need to take responsibility for what happened and be proactive in fixing it. What Does Ethical Decision Making Mean? Multiple select question. 'Business' can mean an activity of exchange. Business Ethics: Definition, Principles, Why They're Important Emphasizes strong penalties for wrongdoers Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. In "Two Kinds," how does the narrator feel after the talent show? Businesses must abide by some basic principles. One strategy guaranteed to displease your customers is to: compliance-based CSR can lead to even more profits. firms should take added caution not to support government programs that protect the environment. varies among those who are interested in corporate responsibility. Article. Maximizing ethical conflict in work groups Ethical behavior does not matter to investors. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. Explanation Business principle (3) Flashcards | Quizlet Multiple select question. A business's responsibilities to its owners and investors include C. Education and training Which of the following statements reflects the difficulty companies face when requiring international suppliers to follow environmental and human rights standards set by U.S. firms? Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; D. Pricing practices The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. A. guilt payments. human resource support staff Codes of ethics foster ethical behavior by A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? C. business exists only to make money for shareholders. A. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. Explanation Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. C. Corporate strategy setting a good example. She was even _____ after her solo than before. B. Horn blower Its easier for a business to retain employees when they work for a company that they believe in. We covered: How data teams can actually design ethical ML models, after . The ethics code must be enforced. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility 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. The term business ethics refers to the set of moral principles that guides a company's conduct. A. reduced employee turnover. True or false: Many investors believe that by choosing to put their money into companies whose goods and services benefit society, they can improve society's financial health as well as their own. [B] most of those who caused the crisis going to jail As a philosophy, ethics are the principles that guide a person's behaviour. Tejas Vemparala also contributed to this article. B. varies even among those who are interested in corporate responsibility. Resource procurement and consumption practices B. The second major meaning behind the term is . The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. (C) attract and retain better employees opportunity influence ethical behavior True (B) lack of trust in the free market system 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.. Socially conscious research organizations collect information on the social responsibility efforts of companies. Which of the following are reasons a business should be managed Reading: Global Business Ethics | International Business - Lumen Learning demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Multiple Choice it attracts and retains customers Multiple select question. technical policy B. because strict global regulations require it. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. On the line provided after the sentence, write the possessive form of the underlined words. Which of the following is a reason why a business should be managed A. ignoring both ethical and unethical behavior 1. There are a wide variety of examples of ethical behavior in the workplace. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ E. All of the answers are correct. tax officials. Which of the following is a reason why a business should be managed ethically? ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. to increase employee turnover Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. B. maintaining proper accounting procedures. When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. [C] The U.S. government will use military force to enforce labor laws.. investors. U.S. companies that operate abroad, particularly those who contract with foreign companies, are now ________ human rights and environmental standards followed by U.S. law. Resource procurement and consumption practices social audit. How to Manage a Business Effectively (7 Key Elements) 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. After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. (A) it prevents government audits Many companies Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . a clear set of rules and regulations C. moral philosophy. 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. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? 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. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. Ch 4 Flashcards | Quizlet Ethics in Management | Encyclopedia.com D. Outsourcing practices D. employee retaliation by doing the minimum needed to get by. 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. . Although this can be a lot of work, it can also positively impact the bottom line, protect a companys brand and result in higher customer satisfaction. U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. the federal government Strategic partnering A. It emphasizes sustainability, customer loyalty, brand image, and employee retention. 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. Business Ethics - Definition, Principles, Types, Examples - WallStreetMojo Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. 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. Multiple select question. Business ethics concerns ethical dilemmas or controversial issues faced by a company. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: [B] reaches broad and diverse groups Multiple select question. If an underlined word is already in the correct possessive form, write a C on the line. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. 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. Multiple Choice Studies have found a _____ correlation between academic dishonesty and dishonesty at work. Which of the following statements about business ethics is false? 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. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output.
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