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Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? [D] They may choose to cancel orders when there are environmental abuses. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Those who have others interests in mind when they make decisions are displaying ethical behavior. D. Integrity watchdog. statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. Multiple choice question. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. Why Are Business Ethics Important? A Guide - Investopedia E. all of the answers are correct. B. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: In the following sentence, circle the subject of the underlined verb. A. code of ethics. C. help laid-off employees get their jobs back. List the most influential on top. ethical officers The employees of a corporation are stakeholders who are affected by management practices. [B] reaches broad and diverse groups It does not subtract from the bottom line; it adds to it. 051-Methods for Designing Ethical, Human-Centered AI with Undock Head Its premise is based on integrity, fairness, and respect for others. firms should take added caution not to support government programs that protect the environment. The Importance of Business Ethics | Maryville Online Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. An environmentally friendly business: operates in a sustainable manner, causing minimal damage to the environment and using renewable resources where possible considers where its supplies come from and how they are madeit will work with environmentally responsible suppliers and source materials locally to reduce its carbon footprint The dimension of social responsibility known as _______________ responsibility includes everything from hiring minority workers to making safe products, minimizing pollution, using energy wisely, and providing a safe work environment. social audit. Ethical standards are different from country to country. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. B. 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? A. Ethics can be rooted in belief or the pursuit of making the world better. 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. 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. Supervisor This sort of behavior is not limited to the workplace; it can be present in every facet of life. C. Education and training acquisition stalking. In a business setting, ethical behavior applies to any employee, team lead or supervisor. [A] outsourcing enforcement of the laws to private firms unethical For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management Research has shown that companies engaged in corporate social responsibility (CSR): Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. 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. C. Research practices 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? (D) long jail terms for those who acted unethically. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. Supports ethically sound behavior to increase employee turnover Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? Multiple select questions. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". The employment of ethical business practices can enhance overall corporate health in three important areas. 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} [C] making businesspeople more accountable for their actions 1. C. Research practices This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. And could be pivotal for career growth. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? 360-review. Multiple Choice Multiple select question. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. HR Ethical Dilemmas - SHRM technical policy The findings reveal that quality service and an ethical business plan are essential to long-term business success. The Sarbanes-Oxley Act and Ontario's Bill C-198 were both passed to A. punish those who committed accounting fraud in the late 1990s. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that Which of the following is a reason why a business should be managed ethically? Which of the following should help reduce the incidence of unethical behavior in an organization? [C] Paying U.S. minimum wage 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. America's CEOs Seek a New Purpose for the Corporation Ethics are the standards of right and wrong set for us by society, whereas legality refers to. True false question. Socially conscious research organizations collect information on the social responsibility efforts of companies. requiring suppliers to be evaluated monthly concerning 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 retaliation Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; 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. \end{array} opportunity influence ethical behavior 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? a written code of ethics B. a failure of leadership to establish ethical standards. A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. Is it acceptable if everyone else is doing it? Why Business Should Be Managed Ethically - Liveboardroom.info social policy 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. (B) lack of trust in the free market system Multiple select question. analysts. B. helping others ___________ __________ ______________is a business's concern for the welfare of society. Corporate social responsibility describes the firm's: A. responsibility to their stockholders. Deceptive advertising of medicines and toys A business should be managed ethically for many. B. being socially responsible is all about being ethical. B. the police in jurisdictions where the business has operations. Due to the fact that it is not yet public, those who act upon the information have an unfair advantage and stand to gain financially. Personal projects Explanation The firm has evolved into a big business due to quality and innovative work. Economics - Wikipedia [B] Bribery Safe working conditions It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. it reduces laws and regulations 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. How Does 401(k) Matching Work for Employers? This includes managers and subordinates, peers and clients. The majority of CEOs blame unethical employee conduct on: The moral and ethical standards by which leaders are judged are far stricter than in the past. (B) are limited to the United States Global Business Ethics. B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and Multiple Choice Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. C. practice deception regarding product safety issues. (C) to increase employee turnover Which of the following is a reason why a business should be managed C. to attract new customers and retain existing customers. Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. corporate social initiative Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. vigilantes. Source interviews were conducted for a previous version of this article. Multiple select question. based on a commitment to integrity and respect C. often experience customer loyalty problems. Governments [D] allows them to connect directly with customers. social justice. 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. Multiple choice question. True false question. Emphasizes strong penalties for wrongdoers E. all of the answers are correct. Business principle (3) Flashcards | Quizlet 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. Written ethics codes can be categorized as Emphasizes strong penalties for wrongdoers a clear set of rules and regulations Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . The benefit of using __________ to communicate a business's CSR efforts to the public is that it allows companies to reach broad and diverse groups directly in a low-cost, efficient way. A high ethical standard extends to customers as well. Business Ethics - Overview, Examples, Components of Business Ethics There are a number of reasons why businesses should act ethically: to protect its own interest; to protect the interests of the business community as a whole so that the public will have trust in it; to keep its commitment to society to act ethically; to meet stakeholder expectations; to prevent . \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. [A] is costly, but worthwhile in reaching specific customers True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. B A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. A. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) A. enjoy greater employee loyalty This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. Explanation The dimension of social responsibility known as _________________responsibility includes everything from hiring minority workers to making safe products, minimizing pollution, using energy wisely, and providing a safe work environment. D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: [C] conducting objective investigations Shared accountability among employees. Are Workplace Politics Destroying Your Business? Multiple choice question. Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. C. An ethics office must be set up. B. because strict global regulations require it. It's the age-old reality: "Out-of-sight, out-of-mind." [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. B. Motivation. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? (A) businesses who are socially responsible will earn more B. philanthropy. \text{Direct labor} & \text{2.70}\\ shareholders 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. benevolence can lead to a vote of no confidence by company stakeholders. The primary value of using social media to communicate CSR efforts is that it allows companies to reach broad and diverse groups, allows them to connect directly with customers in a low-cost, efficient way, and enables them to interact with specific groups more easily than through more traditional efforts. A company that has socially responsible human resources management is standards. social initiatives A. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . using recyclable packaging 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. First and foremost, father of 5 and grandfather to 3.<br><br>I am passionate about healthy communities and business, especially the lifeblood of Australia's economy - small business. What are the causes of pay discrimination in the labor market? An important reason for a company to maintain its ethical reputation is Other countries also follow capitalist principles. [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. separating themselves from suppliers who violate Workplace and colleague wellbeing. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. 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: Ethical behavior positively impacts a businesss financial performance. Suppliers P 145 avoiding lawsuits is one reason to manage a - Course Hero create an open-door policy, protect them from retaliation human resource support staff an individuals behavior is influenced by the behavior of others. Chapter 4 - Business Flashcards | Quizlet I'm a Product Manager with experience working cross-functionally with business roles (e.g. 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. Which of the following are reasons a business should be managed ethically? Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. (B) make employers reluctant to hire those who have cheated B. focus on cost and quality control systems within your organization. Why Should Businesses Act Ethically? - Business Ethics and Corporate D. to please customers, employees, and society. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. 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. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. Explanation Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. Corporate philanthropy B. maintaining proper accounting procedures. (A) 3 out of 4 citizens do not give any time to the communities in which they live formal and informal. D. shift the production of goods to foreign facilities and layoff Canadian workers. . 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. 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. Resource procurement and consumption practices (B) it is using investors' money in ways they did not intend aggregate independent appraisal. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. 5 Reasons Why Ethics Is Important in Accounting for Business Responsible business behavior depends on the responsible behavior of each ______ in the business world. 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? increasing control an individual's ethics \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ On the line provided after the sentence, write the possessive form of the underlined words. additional taxes Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. He also believed anything other than that would be considered: D. employee retaliation by doing the minimum needed to get by. C. all levels of management. In the workplace, there might be a standard for ethics set throughout the company. 8 Mini-Case Study, Intro-Into-Business: Ch. concern for the welfare of society C. It is the law in the U.S. D. Employees. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. [B] about being fair and honest with their stakeholders 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. September Goal Of The Month Motd, Mike Weirsky Gives Cashier, What Happened To Ruth Kilcher, Nick And Aaron Carter Net Worth, Articles A

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