Increased control over employee actions. social policy C. helps government officials develop appropriate legislation. BUS-112 Chapter 4 - Subjecto.com All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. called stakeholder interest capitalism Workplace and colleague wellbeing. 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? Which of the following are examples of outside stakeholders that must be told about a company's ethics program? E. A criminal lawsuit. Business ethics benefits the bottom line. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. corporate social responsibility, Corporate social responsibility is when businesses are concerned True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. 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? ___________ __________ ______________is a business's concern for the welfare of society. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. A. hiring only women and minorities Giving back to society There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. (A) matter very little to employers G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . Determining what is involved for a firm to be socially responsible: A. is easy. Multiple choice question. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. Top leaders from other countries have been charged with bribery. profitable charities It is essentially a moral compass. Socially conscious investors insist that a company extend its own high standards to its ____________________. (D) it reduces laws and regulations, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: A. The authors start from the assumption that most people wish to behave ethically. Multiple select question. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. government-supported direct mail campaigns Unethical businesses also lose favor with consumers. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Multiple Choice Which of the following is not one of the approaches associated with corporate social responsibility? B. not concerned with the ethical or socially responsible behavior of their international suppliers. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. integrity-based ethics 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} because strict global regulations require it, learned by observing the actions of others in the organization. The deliberative system leads to more-ethical behaviors. B. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. 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 . Source interviews were conducted for a previous version of this article. the federal government Amber was observing an example of the ___________ followed at this organization. A. whistleblowers Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. building parks A well-implemented ethics program can also reduce losses. B. the police in jurisdictions where the business has operations. (B) 3 out of 4 citizens think they should be paid for their volunteer work Multiple choice question. Fraud school districts E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. Multiple select question. Internal Audit Company Protection Act C. diversity Therefore, it is the most significant resource to run or upgrade any business. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. An important factor in enforcing an ethics code is: 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. [B] share all information with managers when requested separating themselves from suppliers who violate. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ Though there are many ethical opinions that most people share, ethics will differ from person to person. He also believed anything other than that would be considered: increasing control This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. 8 Mini-Case Study, Intro-Into-Business: Ch. D. fail to earn sufficient profits for their owners. While these actions might not be illegal, they can definitely have negative effects on the morale and success of a company, especially if their dirty laundry is aired publicly. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition Multiple choice question. standards. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? corporate policy U.S. companies tend to overlook and forget human rights abuses abroad. Compliance-based ethics codes focus on: Multiple choice question. D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. 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. [D] Political risk taking. This will ensure the stability of all structural parts, help to form a sense of belonging to one community with the same goals and aspirations. Multiple select question. Motivation. Are Workplace Politics Destroying Your Business? only to compete and make a profit Financial transparency [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is A. you need to justify socially responsible behaviour from an investors standpoint only. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: Tejas Vemparala also contributed to this article. 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. [C] only to compete and make a profit \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. Managing data ethics | Deloitte Insights E. law. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. Morality codes Multiple Choice integrity-based ethics Studies have found a _____ correlation between academic dishonesty and dishonesty at work. The most basic question in an ethics-based management system is. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . Multiple Choice aggregate independent appraisal. A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. C. It is the law in the U.S. D. Employees. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. B. enjoy significantly higher profits. With respect to business ethics, it can be said that "it takes two to tango." Paying employees on specified pay dates most of the time. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. C. help laid-off employees get their jobs back. using recyclable packaging retaliation Explanation Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. A business starts with the correct usage and allocation of finances and cost management. It is the right thing to do. B. ability to plan for the unexpected. E. All of the answers are correct. Business ethics helps to optimize company resources. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? C. energy consumption My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. HR professionals sometimes face ethical or moral dilemmas. 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 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. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. 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. Multiple Choice Ethical behavior can have negative consequences to the bottom line in the long run. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? shareholders Typically, it is the kind of information where parties in the know can benefit. It is an act that is against the law and against Securities and Exchange Commission policy. 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. Is it acceptable if everyone else is doing it? Research into ethics and business performance has shown the two are linked in some important ways. increasing the diversity of their workforce Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be Explanation There are a wide variety of examples of ethical behavior in the workplace. However, anyone caught violating a law will be immediately fired." It may just be the cornerstone of your success. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. Suppliers offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. investors. 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. D. help investors recoup their losses. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. 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. Explanation Resource procurement and consumption practices Multiple select question. Explanation allows them to reach specific groups more directly, allows them to connect directly with customers It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. Which of the following are reasons a business should be managed ethically? B. compliance police. The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? insider trading. \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ Multiple Choice 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. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Corporate responsibility Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. Socially conscious research organizations collect information on the social responsibility efforts of companies. A. profits. Trust and cooperation between workers and managers must be based on which of the following? Supervisor 4. 'Business' can mean an activity of exchange. When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. 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. B. varies even among those who are interested in corporate responsibility. Business Ethics - Stanford Encyclopedia Of Philosophy This will ensure that you have trustworthy employees working for you. . 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. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. Both positive and negative activities are measured. 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. Displaying good ethical behavior can boost company morale and client relations. Complete each sentence with the comparative or superlative form of the modifier in parentheses. Organizational ethics begins Multiple Choice at the top levels of management. Multiple Choice Which of the following represent examples of how corporations set positive standards of ethical behavior? As a philosophy, ethics are the principles that guide a person's behaviour. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. social media setting a good example. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. Top management 4. Multiple choice question. What are the causes of pay discrimination in the labor market? TRUE There are many reasons why a business should be managed ethically : ( 1 ) to maintain a good reputation , ( 2 ) to keep existing customers , ( 3 ) to attract new customers , ( 4 ) to avoid lawsuits , ( 5 ) to reduce turnover , ( 6 ) to avoid government intervention , ( 7 ) to please customers , employees , and society , and ( 8 ) because it is the right thing to do . Which step is the most critical to help improve business ethics? True false question. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. <br> I . Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? it reduces laws and regulations 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? C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. Multiple select question. Community members are bound by the pursuit of common values and goals. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. B. personal responsibility C. compliance allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: create an open-door policy, protect them from retaliation It's the age-old reality: "Out-of-sight, out-of-mind." C. Accounting fraud A. Your boss has prepared some questions for you to consider. 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. Strategic partnering Internal auditors Governments Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by B. Reading: Global Business Ethics | International Business - Lumen Learning corporate beneficial management B. Its easier for a business to retain employees when they work for a company that they believe in. All else held equal, socially responsible firms: A. are viewed more favourably by consumers. C. Operational initiatives Which of the following would least likely involve ethical concerns? (A) it prevents government audits 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. 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 social order ethics Explanation social initiatives help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? Chapter 4. These examples of ethical behaviors ensures maximum productivity output at work. Ethical Dilemmas: How Scandals Damage Companies Ignoring hazardous job conditions that exist in the company's facilities A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. penalizing wrong-doers. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". 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. Though discrimination and harassment laws have been put in place and continue to be updated . E. Employee benefit programs. Value (ethics and social sciences) - Wikipedia Defines an organization's guiding principles. Research has shown that companies engaged in corporate social responsibility (CSR): A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? Multiple choice question. Taking Advantage of the Advantages: Gifts, Bribes, and Kickbacks standards. 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. 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. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. 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. Ethical problems such as influence peddling and bribery: A. Multiple select question. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? [B] reaches broad and diverse groups social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? 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:
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