All else held equal, socially responsible firms: A. are viewed more favourably by consumers. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." [A] few losses to investors Emphasizes strong penalties for wrongdoers Society Multiple Choice 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? Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. C. Research practices 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 . demanding that international suppliers adhere to higher, more costly standards than their American counterparts. for the welfare of society as a whole, about being fair and honest with their stakeholders C. all levels of management. increased financial donations to local areas but pulled away from national and global contributions. C. commitment to a management training program. C. energy consumption [A] making the charges public before the investigation A business should be managed ethically for many. socially conscious research organizations. D. companies who are perceived as being socially responsible will ultimately earn more profits for their Tejas Vemparala also contributed to this article. reducing most costs B. because strict global regulations require it. Resource procurement and consumption practices B. True retain better employees Multiple choice question. Maximizing ethical conflict in work groups Ethical behavior can have negative consequences to the bottom line in the long run. B. opportunity. Economic conditions in some developing countries make child labor a necessity for the survival of families. 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 business should be managed ethically because, businesses with good reputations attract customers. 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. Complete each sentence with the comparative or superlative form of the modifier in parentheses. Ethical behavior positively impacts a businesss financial performance. Multiple choice question. C. Investor relations 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. benevolence can lead to a vote of no confidence by company stakeholders. secondary market companies. 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. formal and informal. (A) matter very little to employers E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? The first area is productivity. Multiple Choice Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? B. In a business setting, ethical behavior applies to any employee, team lead or supervisor. The moral and ethical standards by which leaders are judged are far stricter than in the past. C. writing their representatives in Congress. 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. 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. Governments 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. (B) it is using investors' money in ways they did not intend This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. This is the third year of operations for the company. Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. A. Diversity and discrimination B. Everyone with whom the business has dealings. 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. Periodically asking every employee to evaluate the company's ethics performance. Team and business confidence. Explanation E. Employee benefit programs. (C) 4 out 5 citizens volunteer an hour each week Businesses can show their CSR in many ways. Deceptive advertising of medicines and toys Ethical standards are different from country to country. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. unethical Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. Full-time co-workers Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. Corporate social responsibility is based on a D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. Multiple select question. social impact program. Personal projects With respect to business ethics, it can be said that "it takes two to tango." This indicates that: A. dancing around issues should be part of a firm's code of ethics. social order ethics List the most influential on top. B. Multiple Choice Stresses shared accountability \text{Variable manufacturing overhead} & \text{0.60}\\ A few months ago, Paulie's Pizza House, a large nationwide chain of restaurants, purchased one of its competitors, Italian Stallion Pizza Stations, for $800 million. There are a wide variety of examples of ethical behavior in the workplace. Which of the following is NOT a part of an integrity-based ethics code? D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. C. Education and training (A) it prevents government audits Multiple Choice E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? Safe working conditions 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. 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: analysts. 22. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. B. Whistleblowing C. Plagiarism An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. Multiple select question. integrity-based ethics concern for the welfare of society Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. Target is a business. Ethical problems such as influence peddling and bribery: Another reason why business ethics is important is that it can improve profitability. A. delight them with a quality product at a fair price. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are As a philosophy, ethics are the principles that guide a person's behaviour. vigilantes. (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 [A] To attract customers Ethics can be rooted in belief or the pursuit of making the world better. What occurs when an employee exposes an employer's wrongdoing to outsiders? higher ethical standards than in the past. Should an instance occur, the result could be devastating to your company's finances and reputation. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. an individuals behavior is influenced by the behavior of others. 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. Multiple select question. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. insider trading. ", Corporate social responsibility is when businesses are concerned The authors start from the assumption that most people wish to behave ethically. How Does 401(k) Matching Work for Employers? it attracts and retains customers (B) are limited to the United States government-supported direct mail campaigns increasing the diversity of their workforce Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. that only society's health is improved when they invest in companies whose goods and services benefit the community While these actions might not be illegal, they can definitely have negative effects on the morale and success of a company, especially if their dirty laundry is aired publicly. [C] Paying U.S. minimum wage human resource support staff Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. Here are five reasons why you should keep things legal and follow business ethics in accounting. corporate social initiative These actions are The mortgage bankers and real estate companies who helped create the financial crisis of 2008 were driven by, Financial and political leaders can restore trust in the free market system by: requiring suppliers to be evaluated monthly concerning An ethical business will get your employees to respect your company . communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: 8 Mini-Case Study, Intro-Into-Business: Ch. B. an individual's behavior is influenced by the behavior of others. Product safety From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. Trust and cooperation between workers and managers must be based on which of the following? The deliberative system leads to more-ethical behaviors. Marketing, Finance, Sales), technical roles (e.g. allows them to reach specific groups more directly, allows them to connect directly with customers 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? called stakeholder interest Multiple select questions. What are the causes of pay discrimination in the labor market? Multiple choice question. Multiple choice question. Explanation (nervous). lose sales revenues My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. 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. [D] having an ethics officer who is fair, A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is 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." Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. that they can improve their own financial health by investing in companies whose goods and services benefit the community 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. U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. whistleblowers. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Motivation. Which of the following would least likely involve ethical concerns? (D) make more money for investors in the short run. True Dont make ethics an afterthought in your company culture. If an underlined word is already in the correct possessive form, write a C on the line. B. helping others Ignoring hazardous job conditions that exist in the company's facilities Multiple choice question. corporate social responsibility, Corporate social responsibility is when businesses are concerned __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. (B) lack of trust in the free market system Increased control over employee actions. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. D. maximizing their investment in the firm. [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is 'Business' can mean an activity of exchange. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. increased their financial donations because they understood how badly society needed a helping hand. With respect to business ethics, it can be said that "it takes two to tango." Research into ethics and business performance has shown the two are linked in some important ways. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. 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. separating themselves from suppliers who violate Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be A. general guiding values She was even _____ after her solo than before. To attract customers To avoid lawsuits To maintain a good reputation Making decisions that we know are different from what is right erodes our self-esteem. Other countries also follow capitalist principles. Corporate philanthropy compliance-based standards. Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. Workplace and colleague wellbeing. How to Get a Bank Loan for Your Small Business, How to Conduct a Market Analysis for Your Business, Guide to Developing a Training Program for New Employees. B. To manage these risks and the ethical obligations they imply, CDOs should work on developing institutional practices for continual learning and interaction with external experts. We covered: How data teams can actually design ethical ML models, after . The ethics code must be enforced. compliance police. Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. (C) attract and retain better employees Explanation [B] passing laws to make accounting records more transparent D. expanding the opportunity to behave ethically by providing punishments for following the rules. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ only to compete and make a profit (D) going to lose money by providing pay raises, A business should be managed ethically because Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. actual ethics. Who sets the standards of right and wrong as defined by ethics? Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. 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 [C] can be trusted to maintain confidentiality A. E. all of the answers are correct. In a business setting, ethical behavior applies to any employee, team lead or supervisor. B. a failure of leadership to establish ethical standards. In the following sentence, circle the subject of the underlined verb. social media (C) gains for investors in 2008 and 2009 Chapter 4. This is called a bounty provision because as stated, they may receive a monetary award for their actions. Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. B. improve corporate profits. offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. C. teamwork eliminates a need for personal ethics. Startup Costs: How Much Cash Will You Need? With over 20 years of consulting experience across various industries throughout Australia and abroad, I am known for my ability to develop and turn creative strategies into efficient execution and excellent . it reduces laws and regulations \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ Top management 4. Ethics are the standards of right and wrong set for us by society, whereas legality refers to. holding international suppliers to different standards than American companies must adhere to in the United States. This sort of behavior is not limited to the workplace; it can be present in every facet of life. Defines an organization's guiding principles. Multiple Choice Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. Managing Business Ethics takes the view that ethical and unethical conduct are primarily the product of how systems align within an organization to promote certain kinds of behavior. Multiple select question. not concerned with the ethical or socially responsible behavior of their international suppliers. Supervisor Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. A. If the verb is already correct, write C above it. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Shared accountability among employees. 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. [D] severe financial crises. Strategic partnering Unethical behavior by financial and real estate businesses has led to 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. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. [B] reaches broad and diverse groups setting a good example. D. shift the production of goods to foreign facilities and layoff Canadian workers. (D) long jail terms for those who acted unethically. C. often experience customer loyalty problems. It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. Positive Effects of . Multiple choice question. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. Which of the following is not one of the approaches associated with corporate social responsibility? Scandals. insider trading. [A] outsourcing enforcement of the laws to private firms A. reduced employee turnover. Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. A. you need to justify socially responsible behaviour from an investors standpoint only. B. expressing dissatisfaction by protesting. Multiple Choice Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; Which of the following were not identified as being fundamental to the CSR definition? reaches broad and diverse groups In turn, employees will trust that their leadership team is working toward the greater good of the entire company. B. being socially responsible is all about being ethical. C. teamwork eliminates a need for personal ethics. fascism Compliance-based ethics codes decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. socialism social policy Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. Think about a business that hires only family or one that gives inappropriate incentives, for example. Which of the following are reasons a business should be managed ethically? Which of the following represent examples of how corporations set positive standards of ethical behavior? Displaying good ethical behavior can boost company morale and client relations. (C) to increase employee turnover They should display behavior that is honest and fair in their relationships with co-workers and their. free from the concern of Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . Those who have others interests in mind when they make decisions are displaying ethical behavior. (A) are just part of doing business Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. B. An important reason for a company to maintain its ethical reputation is ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. (B) it attracts and retains customers Determining what is involved for a firm to be socially responsible: A. is easy. ignoring both ethical and unethical behavior [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. 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. because strict global regulations require it, learned by observing the actions of others in the organization. Research has shown that companies engaged in corporate social responsibility (CSR): C. diversity D. integrity. A. the breakdown of traditional religious institutions. [C] making businesspeople more accountable for their actions Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. 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. Multiple choice question. B. enjoy significantly higher profits. 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.