D. Outsourcing practices Business principle (3) Flashcards | Quizlet Multiple Choice The last recession changed the way many companies offer support to people and communities in need. True or false: Many investors believe that by choosing to put their money into companies whose goods and services benefit society, they can improve society's financial health as well as their own. [A] for the welfare of society as a whole 2. Multiple Choice D. to please customers, employees, and society. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is Mistakes and misunderstandings are bound to happen in any work setting. C. teamwork eliminates a need for personal ethics. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. It is essentially a moral compass. Marketing, Finance, Sales), technical roles (e.g. Deceptive advertising of medicines and toys Reevaluating its ethics codes based on the input of its customers. [A] Influence peddling D. Pricing practices Business ethics helps to optimize company resources. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ 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 It is actually a structure of moral principles and code of conduct applicable to a business. [C] To increase employee turnover This, then, creates greater stability within the company.. Multiple Choice Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. investors. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Explanation Chapter 4. actual ethics. (C) benevolence is the highest virtue ignoring both ethical and unethical behavior . Whistleblowers are often concerned about retaliation. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: On the flip side, a leader who personifies ethical behavior will be fair in all situations. (C) to increase employee turnover holding international suppliers to different standards than American companies must adhere to in the United States. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. All else held equal, socially responsible firms: A. are viewed more favourably by consumers. Which of the following would least likely involve ethical concerns? In this episode of Experiencing Data, Chenda and I explore her actual methods to designing ethical AI solutions as well as how she works with UX and product teams on ML solutions. B. 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. Paying employees on specified pay dates most of the time. for the welfare of society as a whole, about being fair and honest with their stakeholders Your boss has prepared some questions for you to consider. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. An important factor in enforcing ethics codes is selecting a(n) ________ ________. Ethics in the workplace: the ethical manager | HRZone moral impropriety. About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. C. a loss of employee commitment and trust in the company and its management. 'Business' can mean an activity of exchange. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. formal and informal. A. Becoming an environmentally friendly business | Business Queensland Part-time co-worker 3. 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. whistleblowers. 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. Target is a business. Businesses should create and display their code of ethics publicly. 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. Ethical behavior means your team operates according to fair and transparent standards, not just complying with legal rules or regulatory requirements, but going above and beyond to ensure decisions are applied through an ethical lens. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. What Does Ethical Decision Making Mean? 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. False, Whistleblowers can be helped by protecting them from: \text{Total production cost} & \text{\$ 9.20}\\ A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. Economic conditions in some developing countries make child labor a necessity for the survival of families. Multiple choice question. A. you need to justify socially responsible behaviour from an investors standpoint only. These define the company's guiding values, and most often it involves shared accountability. Responsible business behavior depends on the responsible behavior of each ______ in the business world. Sherman Act Increased control over employee actions. In the long run, CSR enhances profits. [B] it increases the likelihood of government intervention Businesses should be managed ethically because it is the right thing to do, it is legal and keeps the government from writing new laws, it is good for employee turnover, maintains a good reputation, keeps customers and attracts new ones, pleases employees and society Compliance based ethics code How Managers Can Encourage Ethical Behavior | Principles of Management Explanation B. varies even among those who are interested in corporate responsibility. Dodd-Frank Wall Street Reform and Consumer Protection Act [D] To avoid lawsuits, Effective ethics officers: This indicates that: A. dancing around issues should be part of a firm's code of ethics. the collection of laws to protect society from fraud, theft, and violence. (C) attract and retain better employees U.S. companies follow the lead of consumers, and at this time, there is no evidence of a trend toward concern for better human rights and environmental standards. Resource procurement and consumption practices D. Outsourcing practices corporate social initiative Emphasizes strong penalties for wrongdoers Supervisor 4. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. [B] allowing management to decide the outcomes of investigations How are these two rates measured? _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. based on a commitment to integrity and respect Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. 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. using recyclable packaging Sarbanes-Oxley Ruling acquisition stalking. Socially conscious investors insist that a company extend its own high standards to its ____________________. Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. profitable charities Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. (B) are limited to the United States ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. Reading: Global Business Ethics | International Business - Lumen Learning allows them to reach specific groups more directly, allows them to connect directly with customers 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} True Explanation Explanation Multiple select question. 1. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. Taking Advantage of the Advantages: Gifts, Bribes, and Kickbacks D. the nation's business schools that tolerate unethical behaviour in students. increasing control Government and business leaders are being held to C. Corporate strategy Which of the following statements about business ethics is false? 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 . lose sales revenues (B) going to save money by not hiring those who are disabled Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. Workplace and colleague wellbeing. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. C. Increased penalties for code violators. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? [B] about being fair and honest with their stakeholders Compliance-based ethics codes D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . providing safety equipment and training for their workers, 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: These actions are A. profits. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. B. an individual's behavior is influenced by the behavior of others. Unethical businesses also lose favor with consumers. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. She has asked you to give her information about what determines the level of various interest rates. reducing regulations about labeling True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. Ethics can be rooted in belief or the pursuit of making the world better. Top management must adopt and support a corporate code of conduct. An ethical business will get your employees to respect your company . Codes of ethics foster ethical behavior by B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and 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. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. 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. B. A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. Ethical behavior includes honesty, fairness, integrity and understanding. B. Horn blower 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. [B] To maintain a good reputation Integrity-based ethics codes 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. customers To allow whistleblowers to come forward with information organizations should Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. D. structure and strategy. reaches broad and diverse groups Customers promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Studies have found a _____ correlation between academic dishonesty and dishonesty at work. Explanation (C) occur in many countries (D) going to lose money by providing pay raises, A business should be managed ethically because [C] lack of trust in the free market system Complete each sentence with the comparative or superlative form of the modifier in parentheses. Product safety In a business setting, ethical behavior applies to any employee, team lead or supervisor. Multiple choice question. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. 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. analysts. 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. True false question. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) Marilena Crsteanu - International Customer Experience Advisor Multiple choice question. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? Its easier for a business to retain employees when they work for a company that they believe in. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . Decorating Arrangements has just completed operations for the year ended December 31, 2016. Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet Amber was observing an example of the ___________ followed at this organization. Fraud benevolence can lead to a vote of no confidence by company stakeholders. C. Operational initiatives E. A criminal lawsuit. Business Ethics: Definition, Principles, Why They're Important (D) affect hiring practices very little. The employment of ethical business practices can enhance overall corporate health in three important areas. True false question. employees and internal public relations Explanation Ethical Dilemmas: How Scandals Damage Companies Multiple choice question. Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. C. writing their representatives in Congress. [B] reaches broad and diverse groups Chapter 4. Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by 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 socially conscious research organizations. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. setting a good example. An organization's managers instill corporate values and _____________________ in employees by the examples they set. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. Many companies G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . Chapter 4 LearnSmart Quiz Flashcards | Quizlet Multiple Choice A business should be managed ethically for many Corporate responsibility My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. Which of the following are examples of outside stakeholders that must be told about a company's ethics program? This sort of behavior is not limited to the workplace; it can be present in every facet of life. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. B. the police in jurisdictions where the business has operations. Ethical behavior has significant upfront costs which may never be recovered. B. higher ethical standards than in the past. This is due to the fact that our ethics are shaped by our moral code. D. Outsiders must be told about the ethics program. 23 Ethical & Unethical Behavior Examples in Workplace - Formpl 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. Business Ethics - Stanford Encyclopedia Of Philosophy global policy C. helps government officials develop appropriate legislation. aggregate independent appraisal. Periodically asking every employee to evaluate the company's ethics performance. A. Which of the following would be a unique focus of an integrity-based ethics code? [D] businesses with good reputations attract customers. They should display behavior that is honest and fair in their relationships with co-workers and their. Depreciation is due to obsolescence rather then wear and tear. A. the breakdown of traditional religious institutions. B. improve corporate profits. C. often experience customer loyalty problems. C. structure and strategy. A. code of ethics. 3 Reasons Why Business Ethics Is Important - Redlands social justice. B. a failure of leadership to establish ethical standards. Multinational corporations are committed to operating within the legal limits of U.S. law. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. Typically, it is the kind of information where parties in the know can benefit. Business ethics benefits the bottom line. [A] They will bribe local officials to change their policies. separating themselves from suppliers who violate decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. C. Investor relations Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. Stresses shared accountability 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. Shared accountability among employees. Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. In a business setting, ethical behavior applies to any employee, team lead or supervisor. 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. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? The findings reveal that quality service and an ethical business plan are essential to long-term business success. Vanessa recognizes this as a(n) ________-based code of ethics. Trustworthiness. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\
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