A. the breakdown of traditional religious institutions. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. When management considers ethics in its actions toward stakeholders, employees can be positively affected. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. An important reason for a company to maintain its ethical reputation is [C] The U.S. government will use military force to enforce labor laws.. According to recent U.S. Census Bureau research volunteerism is at an all time high, but, 3 out of 4 citizens do not give any time to the communities in which they live. We covered: How data teams can actually design ethical ML models, after . $A supervisor would have to be hired to oversee production of the starters. Example 1. On the flip side, a leader who personifies ethical behavior will be fair in all situations. Strategic partnering concern for the welfare of society C. teamwork eliminates a need for personal ethics. \text{Direct labor} & \text{2.70}\\ 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: Team and business confidence. many Americans decide what's ethical based upon the situation in which they find themselves. 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. Multiple select question. True A. True false question. Mistakes and misunderstandings are bound to happen in any work setting. C. Operational initiatives 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. [A] To attract customers for the welfare of society as a whole, about being fair and honest with their stakeholders Depreciation is due to obsolescence rather then wear and tear. My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. B. personal responsibility C. compliance I'm a Product Manager with experience working cross-functionally with business roles (e.g. It's the age-old reality: "Out-of-sight, out-of-mind." Ignoring hazardous job conditions that exist in the company's facilities Reevaluating its ethics codes based on the input of its customers. Business Ethics: Definition, Principles, Why They're Important B. because strict global regulations require it. Ch 4 Flashcards | Quizlet Dodd-Frank Wall Street Reform and Consumer Protection Act B. philanthropy. building parks Which of the following are reasons a business should be managed Financial transparency setting a good example. Ethical behavior can have negative consequences to the bottom line in the long run. Corporate philanthropy C. It is the law in the U.S. D. Employees. ethical standards that are often unreasonable and cannot be met by most leaders. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. Explanation fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. This includes managers and subordinates, peers and clients. [B] They may choose to cancel orders when there are human rights abuses. \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ This is especially so when the market is very competitive, because then the customers have a lot of options and could switch to another product or service provider.. Supervisor 2. . corporate social initiative B. opportunity. C. often experience customer loyalty problems. 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? offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. In the long run, CSR enhances profits. _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. an individuals behavior is influenced by the behavior of others. (C) gains for investors in 2008 and 2009 opportunity influence ethical behavior This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. Economics (/ k n m k s, i k -/) is the social science that studies the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work. Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. unethical Maria Juarez is a professional tennis player, and your firm manages her money. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: 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 stockholders [B] about being fair and honest with their stakeholders 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 . acquisition stalking. A. expanding the opportunity to behave ethically by providing rewards for following the rules. Government and business leaders are being held to social justice. Society 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} Which of the following is the BEST reason for a business to be managed ethically? Businesses can show their CSR in many ways. Religious institutions, Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: 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. 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 Value (ethics and social sciences) - Wikipedia Prepare computations showing how much profits will increase or decrease as a result of making the starters. Management ethics can factor into issues including coworker interactions, conflicts of interest, customer safety, honest advertising, customer information security and the responsible use of corporate resources. hiring only women and minorities Resource procurement and consumption practices Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. allows them to reach specific groups more directly. Personal projects about being fair and honest with their stakeholders Compliance-driven ethics standards retain better employees insider trading. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Here are five reasons why you should keep things legal and follow business ethics in accounting. A. Business Ethics refers to carrying business as per self-acknowledged moral standards. C. writing their representatives in Congress. A. Internet Eric Allgood - Managing Director - Small Business Assistance and (A) likely to perform better financially Multiple choice question. 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. Top leaders from other countries have been charged with bribery. It does not subtract from the bottom line; it adds to it. social impact program. It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ reducing regulations about labeling based on a commitment to integrity and respect compliance-based ethics 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. "It's an ongoing phenomenon that must be better understood and managed and . Ethics in the workplace: the ethical manager | HRZone Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. 8 Current Ethical Issues in Business (and How to Manage Them) Multinational corporations are committed to operating within the legal limits of U.S. law. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? Business principle (3) Flashcards | Quizlet 1. Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by [A] They will bribe local officials to change their policies. A business's responsibilities to its owners and investors include <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . Multiple select question. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. that they can improve their own financial health by investing in companies whose goods and services benefit the community B. D. Outsourcing practices A. protecting the owners' rights and investments. Multiple choice question. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that [C] Paying U.S. minimum wage Think about a business that hires only family or one that gives inappropriate incentives, for example. 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. D. Improved awareness of the relevant laws. a clear set of rules and regulations Explanation A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. cultural and accountable 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? A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . (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 Business Should Always Be Ethically and Socially Responsible ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and C. Research practices Decorating Arrangements has just completed operations for the year ended December 31, 2016. compliance-based The amount of pollutants a firm unleashes into the environment would serve as an example of a negative activity that would be included in the social audit measurements. human resource support staff Multiple choice question. The concern businesses have for the welfare of society, not just for their owners is: The World Trade Organization (WTO) [A] Influence peddling Ethical problems such as influence peddling and bribery: Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. reaches broad and diverse groups Top management 4. [C] allows them to reach specific groups more directly Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. C. helps government officials develop appropriate legislation. Thinking Ethically - Markkula Center for Applied Ethics Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. They should display behavior that is honest and fair in their relationships with co-workers and their. Demanding Ethical and Socially Res, Intro-Into-Business: Ch. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. In the long run, they believe The ethics code must be enforced. This will ensure that you have trustworthy employees working for you. (D) going to lose money by providing pay raises, A business should be managed ethically because [B] passing laws to make accounting records more transparent Supervisor 4. Multiple choice question. However, anyone caught violating a law will be immediately fired." List the most influential on top. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. CSR can lead to even more profits. E. filing complaints with the company. Emphasizes strong penalties for wrongdoers Ethical behavior includes honesty, fairness, integrity and understanding. A company that has socially responsible human resources management is Multiple Choice social policy How to Manage a Business Effectively (7 Key Elements) To allow whistleblowers to come forward with information organizations should 23 Ethical & Unethical Behavior Examples in Workplace - Formpl A high ethical standard extends to customers as well. D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. B. an individual's behaviour is influenced by the behaviour of others. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. A. reduced employee turnover. Target is a business. True Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet Shared accountability among employees. [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. (A) have fewer loyal customers but attract more of them The international Day Of Pe, Chapter 3 Doing Business in a Global Markets, 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, Spring 2018 Final Exam Review Chapters 8,9,10. 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. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. Research has shown that companies engaged in corporate social responsibility (CSR): free from the concern of Business ethics isnt always exalted in every workplace, but its critically important when it comes to providing customers with quality service, adhering to regulatory compliance standards, and avoiding steep fines and lawsuits. Dont make ethics an afterthought in your company culture. Multiple select question. Multiple Choice Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. B. How can. Those who argue in favour of corporate social responsibility suggest that: The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. B. True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Multiple choice question. By being ethical, leaders can foster an environment that rewards and encourages good attitudes. 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. Full-time co-workers 3. B. (nervous). Ethical behavior does not matter to investors. 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. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. 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. a failure of leadership to establish ethical standards. What does the research into business ethics say? C. An ethics office must be set up. [C] lack of trust in the free market system integrity-based ethics Multiple select question. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. (A) matter very little to employers Internal Audit Company Protection Act integrity-based D. short run profit maximization. Packaging requirements Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. higher ethical standards than in the past. corporate social initiative Putting Ethical Design into Practice. Responsible business behavior depends on the responsible behavior of each ______ in the business world. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. Multiple choice question. A. responsibility (C) benevolence is the highest virtue \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ A business should be managed ethically for many. Intro. business chapter 5 Flashcards | Quizlet From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. D. companies who are perceived as being socially responsible will ultimately earn more profits for their A. Both positive and negative activities are measured. \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. Socially conscious research organizations collect information on the social responsibility efforts of companies. Explanation Codes of ethics foster ethical behavior by shareholders If the verb is already correct, write C above it. 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 . Reevaluating its ethics codes based on the input of its customers. Fraud Explanation social order ethics Unethical behavior by financial and real estate businesses has led to Customer privacy policies and practices social media. whistleblowers promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Managing Business Ethics - Ethical Systems BUS-112 Chapter 4 - Subjecto.com Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. tax officials. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. <br> I . This, then, creates greater stability within the company.. requiring suppliers to be evaluated monthly concerning Corporate social responsibility describes the firm's: A. responsibility to their stockholders.

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