False. [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. building parks likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." Reevaluating its ethics codes based on the input of its customers. to increase employee turnover C. Accounting fraud draw more customers, retain better employees Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. Which of the following are true regarding ethical behavior? punishing unethical behavior and rewarding ethical behavior privately (B) make employers reluctant to hire those who have cheated Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. D. short run profit maximization. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are (A) have fewer loyal customers but attract more of them \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ Ethical behavior has significant upfront costs which may never be recovered. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. social order ethics Business ethics helps to optimize company resources. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. At a college, a code of ethics could include being honest and unbiased when grading and being a catalyst for diverse perspectives in the classroom. Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. C. the increase in lawsuits used to avoid personal responsibility. As a philosophy, ethics are the principles that guide a person's behaviour. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. <br> I . Top leaders from other countries have been charged with bribery. lose sales revenues B. maintaining proper accounting procedures. B. ability to plan for the unexpected. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. ethical officers providing safety equipment and training for their workers, increasing the diversity of their workforce B. focus on cost and quality control systems within your organization. that only society's health is improved when they invest in companies whose goods and services benefit the community Ethical behavior can have negative consequences to the bottom line in the long run. corporate social responsibility, Corporate social responsibility is when businesses are concerned Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . benevolence can lead to a vote of no confidence by company stakeholders. 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: (C) 4 out 5 citizens volunteer an hour each week [A] They will bribe local officials to change their policies. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. D. varies from industry to industry. Deceptive advertising of medicines and toys integrity-based ethics Team and business confidence. The World Trade Organization (WTO) 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. B. philanthropy. D. companies who are perceived as being socially responsible will ultimately earn more profits for their 051-Methods for Designing Ethical, Human-Centered AI with Undock Head C. writing their representatives in Congress. responsible management of human resources, responsible management of human resources. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. Ethical management generates trust, and trust increases productivity. Why You Need to Create a Fantastic Workplace Culture, 10 Employee Recruitment Strategies for Success, Best Accounting Software and Invoice Generators of 2023, Best Call Centers and Answering Services for Businesses for 2023. Corporate responsibility According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Explanation Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management The side effects are so great that the society urges that the business should always be ethically and socially responsible. an individual's ethics it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Multiple select questions. 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. B. varies even among those who are interested in corporate responsibility. [D] allows them to connect directly with customers. Explanation The corporate scandals can hurt the reputation of firms, the interests of investors and stakeholders, welfare of employees, the life damage or property losses of customers and the damage of environment. In a business setting, ethical behavior applies to any employee, team lead or supervisor. Multiple choice question. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. Explanation Emphasizes strong penalties for wrongdoers 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. Multiple choice question. A. expanding the opportunity to behave ethically by providing rewards for following the rules. clarifying what green means [B] passing laws to make accounting records more transparent aggregate independent appraisal. is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Multiple select question. Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet HR Ethical Dilemmas - SHRM A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. These examples of ethical behaviors ensures maximum productivity output at work. 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} [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is Whistleblowers are insiders who report illegal or unethical behavior. This, then, creates greater stability within the company.. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Business Ethics - Stanford Encyclopedia Of Philosophy can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. C. help laid-off employees get their jobs back. (A) matter very little to employers integrity-based separating themselves from suppliers who violate. What does the research into business ethics say? Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. Often, business ethics involve a system of practices and procedures that help build trust with the. allow for complete anonymity There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". acquisition stalking. _____________________ _____________________ _____________________is a business's concern for the welfare of society. False. Multiple select question. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. B. Though discrimination and harassment laws have been put in place and continue to be updated . A business should be managed ethically for many reasons to maintain a good. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Intro. business chapter 5 Flashcards | Quizlet 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 . B. disgruntled workers manipulating budgets and expenses. Tejas Vemparala also contributed to this article. B. Whistleblowing C. Plagiarism 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. D. employee retaliation by doing the minimum needed to get by. Which of the following represent examples of how corporations set positive standards of ethical behavior? 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. An ethically managed business helps to reduce employee turnover. [D] Political risk taking. only with their responsibility to their shareholders 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 . With regard to socially responsible behavior, American businesses are 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. 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. True false question. 22. Compliance-based ethics codes A. Whistleblower [C] To increase employee turnover Your boss has prepared some questions for you to consider. C. teamwork eliminates a need for personal ethics. the collection of laws to protect society from fraud, theft, and violence. I'm a Product Manager with experience working cross-functionally with business roles (e.g. 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. True false question. Periodically asking every employee to evaluate the company's ethics performance. SE Oklahoma's MBA Programs Teaches Ethics Dodd-Frank Wall Street Reform and Consumer Protection Act Explanation promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: (A) likely to perform better financially Is it acceptable if everyone else is doing it? D. shift the production of goods to foreign facilities and layoff Canadian workers. C. often experience customer loyalty problems. Ethics can be rooted in belief or the pursuit of making the world better. moral impropriety. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. Top management Explanation D. management is insensitive to ethical issues. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be Community members are bound by the pursuit of common values and goals. B. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. D. Outsourcing practices Product safety Putting Ethical Design into Practice. Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. A. the breakdown of traditional religious institutions. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. Ethical issues are limited to for-profit organizations. higher ethical standards than in the past. 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. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) Shared accountability among employees. [C] can be trusted to maintain confidentiality Explanation They should display behavior that is honest and fair in their relationships with co-workers and their clients. Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? Chapter 4 - Homework ( Introduction To Business) - Quizlet Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. Multiple choice question. employees and internal public relations stockholders 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? Corporate policy refers to the position a firm takes on ______________ and __________________ issues. Study 19 Terms | Philosophy Flashcards | Quizlet Multiple choice question. allows them to reach specific groups more directly. 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. 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} A company that has socially responsible human resources management is 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. Ethics are the standards of right and wrong set for us by society, whereas legality refers to. A. Diversity and discrimination B. However, anyone caught violating a law will be immediately fired." penalizing wrong-doers. 23 Ethical & Unethical Behavior Examples in Workplace - Formpl Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. (A) businesses who are socially responsible will earn more It may just be the cornerstone of your success. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. 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." Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? formal and informal. Complete each sentence with the comparative or superlative form of the modifier in parentheses. 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. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. Scandals. In the long run, CSR enhances profits. actual ethics. A high ethical standard extends to customers as well. Multinational corporations are committed to operating within the legal limits of U.S. law. increasing control opportunity influence ethical behavior not concerned with the ethical or socially responsible behavior of their international suppliers. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. [B] They may choose to cancel orders when there are human rights abuses. Rohit Sharma - Lead Technical Product Manager - LinkedIn Ethical Behavior Is Essential to Business - Business News Daily 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. Government and business leaders are being held to The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. Which of the following is a reason why a business should be managed ethically? [B] Bribery 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. Here are five reasons why you should keep things legal and follow business ethics in accounting. An important factor in enforcing ethics codes is selecting a(n) ________ ________. Another reason why business ethics is important is that it can improve profitability. Determining what is involved for a firm to be socially responsible: A. is easy. Global Business Ethics. firms should take added caution not to support government programs that protect the environment. called stakeholder interest Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. Ethics in the workplace: the ethical manager | HRZone Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. What Are Business Ethics? Definition, Types and Examples \text{Total production cost} & \text{\$ 9.20}\\ A. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. internal investigation. Safe working conditions \text{ } & \text{Per Unit} & \text{Total}\\ Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ [A] outsourcing enforcement of the laws to private firms On the flip side, a leader who personifies ethical behavior will be fair in all situations. C. all levels of management. D. maximizing their investment in the firm. D. management is insensitive to ethical issues. Multiple Choice 8 Current Ethical Issues in Business (and How to Manage Them) for the welfare of society as a whole, about being fair and honest with their stakeholders Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. global policy 3 Reasons Why Business Ethics Is Important - Redlands leaving unethical behavior unpunished Multiple choice question. The term business ethics refers to the set of moral principles that guides a company's conduct. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality.
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