These actions are Codes of ethics foster ethical behavior by 1. 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. 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 Multiple choice question. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ A New Model for Ethical Leadership - Harvard Business Review communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: [D] allows them to connect directly with customers. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. It may just be the cornerstone of your success. (A) investors putting more money into both markets It could also mention specific protocol within the business. (D) long jail terms for those who acted unethically. A business should be managed ethically for many reasons to maintain a good. (C) to increase employee turnover C. help laid-off employees get their jobs back. social initiatives C. Corporate strategy \end{matrix} [C] only to compete and make a profit Integrity-based ethics codes True There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. information technology They should display behavior that is honest and fair in their relationships with co-workers and their. 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. many Americans decide what's ethical based upon the situation in which they find themselves. Product safety HR professionals sometimes face ethical or moral dilemmas. secondary market companies. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? increasing control Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? This indicates that: A. dancing around issues should be part of a firm's code of ethics. higher ethical standards than in the past. With respect to business ethics, it can be said that "it takes two to tango." 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. Rank the following jobs according to their importance in influencing the implementation of ethical standards. B. varies even among those who are interested in corporate responsibility. Multiple select question. Multiple Choice 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. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: A business should be managed ethically for many Motivation. Chapter 4 - Business Flashcards | Quizlet It is a set of guidelines for dealing with various procedures ethically. [C] To increase employee turnover Multiple choice question. Strategic partnering (B) lack of trust in the free market system 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. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. An important factor in enforcing an ethics code is: fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. Ethical behavior does not matter to investors. retain better employees firms should take added caution not to support government programs that protect the environment. They define crimes more narrowly than do ethics protect from fraud, theft, and violence, while are used to decide how we treat others responsibly to society's views of right and wrong Ethically Behaving often requires more than obeying the law. 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. Rohit Sharma - Lead Technical Product Manager - LinkedIn True Is it acceptable if everyone else is doing it? B. enjoy significantly higher profits. (A) businesses who are socially responsible will earn more One strategy guaranteed to displease your customers is to: moral impropriety. 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. 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. A high ethical standard extends to customers as well. A. protecting the owners' rights and investments. ", Corporate social responsibility is when businesses are concerned Dodd-Frank Wall Street Reform and Consumer Protection Act. lose sales revenues It seeks to promote honesty, fairness, and responsibility in all advertising. Business principle (3) Flashcards | Quizlet Which of the following are true regarding ethical behavior? [B] Bribery 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. shareholders 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 When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. Many businesses believe that they should have an influential and important role in: Societies set the standards for moral behavior, known as, About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through __________ work. Multiple choice question. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. (A) it prevents government audits social impact program. Reading: Global Business Ethics | International Business - Lumen Learning E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? Government and business leaders are being held to increased their financial donations because they understood how badly society needed a helping hand. B. ability to plan for the unexpected. (D) make more money for investors in the short run. Reevaluating its ethics codes based on the input of its customers. Full-time co-workers only to compete and make a profit A. \text{ } & \text{Per Unit} & \text{Total}\\ Ethical behavior includes honesty, fairness, integrity and understanding. 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 . These examples of ethical behaviors ensures maximum productivity output at work. An important factor in enforcing ethics codes is selecting a(n) ________ ________. B. improve corporate profits. 1. internal search and occupy organizations. social media. The ethics code must be enforced. B. philanthropy. whistleblowers. [C] conducting objective investigations Multiple choice question. Its premise is based on integrity, fairness, and respect for others. E. All of the answers are correct. Explanation Think about a business that hires only family or one that gives inappropriate incentives, for example. Ethical management generates trust, and trust increases productivity. 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. C. Education and training What Are Business Ethics? Definition, Types and Examples Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. vigilantes. A. you need to justify socially responsible behaviour from an investors standpoint only. C. It is the law in the U.S. D. Employees. An important reason for a company to maintain its ethical reputation is 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. B. decreased financial donations and eliminated support in almost every way. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and 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. Thinking Ethically - Markkula Center for Applied Ethics \text{Variable manufacturing overhead} & \text{0.60}\\ Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. It is essentially a moral compass. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . Ethical standards are different from country to country. offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. Which step is the most critical to help improve business ethics? Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. (B) 3 out of 4 citizens think they should be paid for their volunteer work C. all levels of management. A business's responsibilities to its owners and investors include Multiple Choice The employees of a corporation are stakeholders who are affected by management practices. A. the breakdown of traditional religious institutions. C. providing all relevant information about current and projected performance of the firm. Business Ethics - A Successful way of conducting business A. Which of the following statements is false? Business Ethics - Definition, Principles, Types, Examples - WallStreetMojo 'Business Ethics' can be termed as a study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. [D] requiring all bankers to sign ethical codes. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ 3 Reasons Why Business Ethics Is Important - Redlands separating themselves from suppliers who violate 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. They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. Ethical Behavior Is Essential to Business - Business News Daily Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; analysts. 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: 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." __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. [C] The U.S. government will use military force to enforce labor laws.. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. 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. Socially conscious investors insist that a company extend its own high standards to its ____________________. A. Multiple choice question. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is An organization's managers instill corporate values and _____________________ in employees by the examples they set. (C) attract and retain better employees demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Practice deception regarding product safety issues. The findings reveal that quality service and an ethical business plan are essential to long-term business success. leaving unethical behavior unpunished A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. [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. Explanation Society Global Business Ethics. My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: What motivated the unethical behavior of real estate agents, lenders, and borrowers that led to the financial crisis of 2008? That person called five of his relatives and several friends. Multiple select question. 8 Mini-Case Study, Intro-Into-Business: Ch. penalizing wrong-doers, increasing control Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. An organization's managers instill corporate values and _____________ in employees by the examples they set. B. an individual's behaviour is influenced by the behaviour of others. The employment of ethical business practices can enhance overall corporate health in three important areas. Why a Business Should be Managed Ethically? - The Business Guru fascism Decorating Arrangements has just completed operations for the year ended December 31, 2016. Determining what is involved for a firm to be socially responsible: A. is easy. C. business exists only to make money for shareholders. enjoy greater employee loyalty to increase employee turnover Demanding Ethical and Socially Res, Intro-Into-Business: Ch. A. Overstating an expense report. Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management C. Watch tower sentinel ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. SE Oklahoma's MBA Programs Teaches Ethics The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. D. structure and strategy. higher ethical standards than in the past. She has asked you to give her information about what determines the level of various interest rates. Tejas Vemparala also contributed to this article. D. Integrity watchdog. insider trading. Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. A. C. moral philosophy. _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. It does not subtract from the bottom line; it adds to it. Chapter 4. On the line provided after the sentence, write the possessive form of the underlined words. Multiple select question. \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. D. shift the production of goods to foreign facilities and layoff Canadian workers. C. a loss of employee commitment and trust in the company and its management. 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. Whistleblowers are often concerned about retaliation. In one such study, led by Kaifeng Jiang, a professor at the Ohio State University Fisher College of Business, researchers examined the intersection between the quality of service a business offers and its adherence to ethical mores by looking into conditions at nearly 200 movie theaters. [A] few losses to investors 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. 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? 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. Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. The total rent on the plant is$80.000 per period. Vanessa recognizes this as a(n) ________-based code of ethics. Answer (1 of 4): When you manage a business ethically it attracts the right people that can suit your company culture and proficiently fit with your business. C. the increase in lawsuits used to avoid personal responsibility. A. Internet [A] To attract customers varies among those who are interested in corporate responsibility. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Multiple choice question. Compliance-driven ethics standards 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. Companies C. Increased penalties for code violators. This, then, creates greater stability within the company.. Multiple Choice that they can improve their own financial health by investing in companies whose goods and services benefit the community Unfair competitive practices in the computer industry [C] allows them to reach specific groups more directly Defines an organization's guiding principles. Multiple Choice not concerned with the ethical or socially responsible behavior of their international suppliers. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. C. energy consumption socially conscious research organizations. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that separating themselves from suppliers who violate. What are the causes of pay discrimination in the labor market? The majority of CEOs blame unethical employee conduct on: By being ethical, leaders can foster an environment that rewards and encourages good attitudes. 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. How Managers Can Encourage Ethical Behavior | Principles of Management B. The authors start from the assumption that most people wish to behave ethically. 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 Compliance-based ethics codes What Does Ethical Decision Making Mean? It is actually a structure of moral principles and code of conduct applicable to a business. commitment to maximizing shareholder profits in all decisions, Insiders, such as employees, who report concerns about a company's accounting or auditing practices are called: Mistakes and misunderstandings are bound to happen in any work setting. Explanation 23 Ethical & Unethical Behavior Examples in Workplace - Formpl Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? Business ethics benefits the bottom line. Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. because strict global regulations require it, learned by observing the actions of others in the organization. free from the concern of reaches broad and diverse groups D. Improved awareness of the relevant laws. 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. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. corporate social initiative about being fair and honest with their stakeholders A. When management considers ethics in its actions toward stakeholders, employees can be positively affected.

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