a business should be managed ethically because

likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." going to lose money by providing pay raises . penalizing wrong-doers. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Top management 5 Reasons Why Ethics Is Important in Accounting for Business Which of the following were not identified as being fundamental to the CSR definition? What kind of person do you think Paulsen is? Studies have found a _____ correlation between academic dishonesty and dishonesty at work. A business starts with the correct usage and allocation of finances and cost management. is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. Should an instance occur, the result could be devastating to your company's finances and reputation. A. 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. C. Investor relations 1. E. A criminal lawsuit. B. B. C. teamwork eliminates a need for personal ethics. If your supervisor directed you to enter false information into a sales order book and told you if you refused that you would lose your opportunity for promotion, you would probably consider this situation to be a(n), According to the text, ethical behavior begins with. Amber was observing an example of the ___________ followed at this organization. \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ pro-current procurement. Explanation C. the increase in lawsuits used to avoid personal responsibility. Ethical Behavior Is Essential to Business - Business News Daily Supervisor 4. They should display behavior that is honest and fair in their relationships with co-workers and their. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. socially conscious research organizations. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: These actions are All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. Multiple choice question. Business Ethics - Overview, Examples, Components of Business Ethics [D] allows them to connect directly with customers. \text{Direct materials} & \text{\$ 3.10}\\ Multiple Choice The total rent on the plant is$80.000 per period. a written code of ethics increased their financial donations because they understood how badly society needed a helping hand. reducing regulations about labeling Rohit Sharma - Lead Technical Product Manager - LinkedIn Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and (D) it reduces laws and regulations, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: Multiple Choice Explanation 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, Chapter 18 APUSH The Victorian Era 1880-1917. Multiple select question. Explanation A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. only with their responsibility to their shareholders [D] To avoid lawsuits, Effective ethics officers: Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? 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. Everyone with whom the business has dealings. B. ability to plan for the unexpected. whistleblowers. hiring only women and minorities (A) matter very little to employers Compliance-based ethics codes A. profits. Startup Costs: How Much Cash Will You Need? [A] Influence peddling Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. 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. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. True false question. Business ethics benefits the bottom line. Examples of ethical behaviors in the workplace includes; obeying the company's rules, effective communication, taking responsibility, accountability, professionalism, trust and mutual respect for your colleagues at work. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. social audit. Management ethics can factor into issues including coworker interactions, conflicts of interest, customer safety, honest advertising, customer information security and the responsible use of corporate resources. How can. ethical officers What are the causes of pay discrimination in the labor market? The moral and ethical standards by which leaders are judged are far stricter than in the past. (C) gains for investors in 2008 and 2009 True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. retain better employees D. shift the production of goods to foreign facilities and layoff Canadian workers. because strict global regulations require it, learned by observing the actions of others in the organization. Chapter 4. E. Employee benefit programs. Multiple choice question. Reading: Global Business Ethics | International Business - Lumen Learning 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. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. 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 Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. enjoy greater employee loyalty D. stockholders. In the following sentence, circle the subject of the underlined verb. [B] allowing management to decide the outcomes of investigations Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. 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: An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. D. to please customers, employees, and society. 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. \end{matrix} Multiple select question. D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. It is the right thing to do. penalizing wrong-doers, increasing control True false question. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ What Are Business Ethics? Definition, Types and Examples CSR can lead to even more profits. The majority of CEOs blame unethical employee conduct on: \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ Sarbanes-Oxley Ruling C. It is the law in the U.S. D. Employees. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. "It's an ongoing phenomenon that must be better understood and managed and . Top management 1. ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. punishing unethical behavior and rewarding ethical behavior privately Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. higher ethical standards than in the past. The last recession changed the way many companies offer support to people and communities in need. social media Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. A business should be managed ethically because, businesses with good reputations attract customers. Corporate social responsibility is based on a lose sales revenues 2. standards. It does not subtract from the bottom line; it adds to it. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Multiple select question. Business Ethics: Definition, Principles, Why They're Important Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. 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. 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. If an underlined word is already in the correct possessive form, write a C on the line. B. Horn blower The findings reveal that quality service and an ethical business plan are essential to long-term business success. 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. Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by Example 1. The authors start from the assumption that most people wish to behave ethically. Written ethics codes can be categorized as (A) are just part of doing business This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. [A] outsourcing enforcement of the laws to private firms Multiple choice question. [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is Workplace and colleague wellbeing. 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 unethical and illegal activity in which investors use private company information to further their own fortunes or those of their family and friends is called: The most effective ethics officers are equally comfortable as ________ and investigators. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. B. improve corporate profits. corporate social responsibility, Corporate social responsibility is when businesses are concerned cultural and accountable C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics Business principle (3) Flashcards | Quizlet Complete each sentence with the comparative or superlative form of the modifier in parentheses. Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. \text{Variable manufacturing overhead} & \text{0.60}\\ Periodically asking every employee to evaluate the company's ethics performance. Here are five reasons why you should keep things legal and follow business ethics in accounting. Maximizing ethical conflict in work groups [A] for the welfare of society as a whole U.S. companies tend to overlook and forget human rights abuses abroad. Which of the following describes charitable donations by corporations to nonprofit organizations? 23 Ethical & Unethical Behavior Examples in Workplace - Formpl B. being socially responsible is all about being ethical. The World Trade Organization (WTO) [C] allows them to reach specific groups more directly Vanessa recognizes this as a(n) ________-based code of ethics. (C) 4 out 5 citizens volunteer an hour each week Full-time co-workers Ethical behavior has significant upfront costs which may never be recovered. firms should take added caution not to support government programs that protect the environment. B. Whistleblowing C. Plagiarism 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. Companies B. varies even among those who are interested in corporate responsibility. (A) likely to perform better financially Deceptive advertising of medicines and toys social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? B. because strict global regulations require it. Article. An ethically managed business helps to reduce employee turnover. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition information technology A business's responsibilities to its owners and investors include 8 Mini-Case Study, Intro-Into-Business: Ch. A business should be managed ethically for many The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. An organization's managers instill corporate values and _____________ in employees by the examples they set. A. 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. concern for the welfare of society A Understanding that individual moral standards, the influence of managers and coworkers, and (A) investors putting more money into both markets human resource support staff Integrity-driven ethics codes (A) have fewer loyal customers but attract more of them 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? [B] reaches broad and diverse groups When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. Companies that participate in CSR typically have more loyal employees and customers. Which of the following are reasons a business should be managed ethically? 'Business Ethics' can be termed as a study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. 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. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. (nervous). Multiple Choice Multiple choice question. 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. C. Research practices Which of the following are reasons a business should be managed socialism 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 . This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. An important reason for a company to maintain its ethical reputation is When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. 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 This sort of behavior is not limited to the workplace; it can be present in every facet of life. C. providing all relevant information about current and projected performance of the firm. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. In ethics and social sciences, value denotes the degree of importance of some thing or action, with the aim of determining which actions are best to do or what way is best to live (normative ethics in ethics), or to describe the significance of different actions.Value systems are prospective and prescriptive beliefs; they affect the ethical behavior of a person or are the basis of their . A well-implemented ethics program can also reduce losses. A business should be managed ethically for many. A. C. structure and strategy. 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. The most basic question in an ethics-based management system is. Explanation can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. B. List the most influential on top. 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. D. management is insensitive to ethical issues. acquisition stalking. 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. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. C. energy consumption secondary market companies. False, Whistleblowers can be helped by protecting them from: Though there are many ethical opinions that most people share, ethics will differ from person to person. [B] share all information with managers when requested An important factor in enforcing an ethics code is: 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. D. Improved awareness of the relevant laws. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. _____________________ _____________________ _____________________is a business's concern for the welfare of society. Multiple select question. corporate policy E. all of the answers are correct. The concern businesses have for the welfare of society, not just for their owners is: In the workplace, there might be a standard for ethics set throughout the company. the federal government Multiple Choice ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. Multiple Choice Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet C. Watch tower sentinel 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. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. Explanation Multinational corporations are committed to operating within the legal limits of U.S. law. Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. Emphasizes strong penalties for wrongdoers Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Thinking Ethically - Markkula Center for Applied Ethics [A] few losses to investors [C] can be trusted to maintain confidentiality Financial transparency 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. (D) affect hiring practices very little. corporate inclusion policy (D) make more money for investors in the short run. A. guilt payments. The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. Which of the following are reasons a business should be managed ethically? \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. Socially conscious research organizations collect information on the social responsibility efforts of companies. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . 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. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be Strict global regulations require it. (B) have higher turnover In the long run, CSR enhances profits. What Are Business Ethics and Why Are They Important? Part-time co-workers. When Paulsen describes Storm, he also gives clues about his own personality. C. commitment to a management training program. Ethical management generates trust, and trust increases productivity. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? She has asked you to give her information about what determines the level of various interest rates. True false question. formal and informal. School McMaster University; Course Title COMMERCE 1E03; Type. True D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. for the welfare of society as a whole, about being fair and honest with their stakeholders In running a successful business, a key factor in that success will be the ethical and moral standards of yourself, your leaders, and your entire team. Customer privacy policies and practices This, then, creates greater stability within the company.. Business Should Always Be Ethically and Socially Responsible Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? not concerned with the ethical or socially responsible behavior of their international suppliers. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. But when they do, employees need to take accountability for their actions. These principles govern every aspect of the company's operations, including its interaction with the government and other businesses, its treatment of its employees and its relationship with its customers. Ethical Marketing - Marketing Schools [C] To increase employee turnover A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. it attracts and retains customers (C) occur in many countries vigilantes. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. 'Business' can mean an activity of exchange. In "Two Kinds," how does the narrator feel after the talent show? A company that has socially responsible human resources management is C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and using recyclable packaging Which of the following should help reduce the incidence of unethical behavior in an organization? Chapter 4. With respect to business ethics, it can be said that "it takes two to tango." he 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. What Does Ethical Decision Making Mean? E. filing complaints with the company. Which of the following represent examples of how corporations set positive standards of ethical behavior? D. companies who are perceived as being socially responsible will ultimately earn more profits for their A. code of ethics. 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?

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