a business should be managed ethically because a business should be managed ethically because

firms should take added caution not to support government programs that protect the environment. 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. 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. only to compete and make a profit G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . [A] They will bribe local officials to change their policies. B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. Managing data ethics | Deloitte Insights 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. [D] Political risk taking. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? social audit. going to lose money by providing pay raises True false question. Example 1. In "Two Kinds," how does the narrator feel after the talent show? analysts. 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, Chapter 18 APUSH The Victorian Era 1880-1917. 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. My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. Defines an organization's guiding principles. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. Which of the following are examples of outside stakeholders that must be told about a company's ethics program? This is an example of corporate: A. profits. Then, of course, there are the more serious consequences of highly unethical behavior. Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. Which of the following statements about business ethics is false? Multiple Choice \text{Direct labor} & \text{2.70}\\ Chapter 4 - Homework ( Introduction To Business) - Quizlet This sort of behavior is not limited to the workplace; it can be present in every facet of life. (C) occur in many countries A high ethical standard extends to customers as well. (D) going to lose money by providing pay raises, A business should be managed ethically because 3 Reasons Why Business Ethics Is Important - Redlands Corporate social responsibility is based on a Top management 4. A business starts with the correct usage and allocation of finances and cost management. 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. an individual's ethics Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? 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. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. increasing control standards. 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. free from the concern of 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 . aggregate independent appraisal. C. teamwork eliminates a need for personal ethics. Multiple select questions. TV ads Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? corporate social initiative An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. Ethical behavior positively impacts a businesss financial performance. An ethically managed business helps to reduce employee turnover. \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ B. a failure of leadership to establish ethical standards. (A) businesses who are socially responsible will earn more C. help laid-off employees get their jobs back. Global Business Ethics. The findings reveal that quality service and an ethical business plan are essential to long-term business success. 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. Explanation Explanation What Are Business Ethics and Why Are They Important? 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. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ concern for the welfare of society With respect to business ethics, it can be said that "it takes two to tango." Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. A. delight them with a quality product at a fair price. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. $A supervisor would have to be hired to oversee production of the starters. True false question. Are Workplace Politics Destroying Your Business? Multiple Choice Fraud (D) businesses cannot succeed in societies that fail. socially conscious research organizations. to increase employee turnover social audit. Corporate responsibility The first area is productivity. Multiple choice question. In a business setting, ethical behavior applies to any employee, team lead or supervisor. B. the police in jurisdictions where the business has operations. Although this can be a lot of work, it can also positively impact the bottom line, protect a companys brand and result in higher customer satisfaction. C. teamwork eliminates a need for personal ethics. Companies that participate in CSR typically have more loyal employees and customers. How can. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: Multiple choice question. (A) likely to perform better financially What are the causes of pay discrimination in the labor market? C. It is the law in the U.S. D. Employees. plan to maximize profits for shareholders to spend in communities \end{array} \text{ } & \text{Per Unit} & \text{Total}\\ True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. D. help investors recoup their losses. D. companies who are perceived as being socially responsible will ultimately earn more profits for their Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. Depreciation is due to obsolescence rather then wear and tear. There are a wide variety of examples of ethical behavior in the workplace. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. protect them from retaliation D. structure and strategy. Emphasizes strong penalties for wrongdoers B. an individual's behaviour is influenced by the behaviour of others. A well-implemented ethics program can also reduce losses. Dodd-Frank Wall Street Reform and Consumer Protection Act Multiple Choice Executives at Enron and Tyco were found guilty ____________ of behavior that damaged their companies' reputations, The emergence of the green movement has affected businesses by. True false question. (nervous). 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) 3 out of 4 citizens think they should be paid for their volunteer work Why Business Should Be Managed Ethically - Liveboardroom.info Unethical behavior by financial and real estate businesses has led to The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: A systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs is called: How are U.S. companies likely to pressure foreign companies to change their standards of ethics and social responsibility? True 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. Chapter 4. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. 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? opportunity influence ethical behavior 051-Methods for Designing Ethical, Human-Centered AI with Undock Head 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. Which of the following is NOT a part of an integrity-based ethics code? U.S. companies tend to overlook and forget human rights abuses abroad. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are Which of the following are true regarding ethical behavior? social media. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. socialism whistleblowers responsible management of human resources, responsible management of human resources. [C] can be trusted to maintain confidentiality C. Research practices How to Manage a Business Effectively (7 Key Elements) Multiple select question. separating themselves from suppliers who violate Supervisor Business ethics benefits the bottom line. Integrity-based ethics codes Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. lower ethical standards than in the past. A. True false question. A business's responsibilities to its owners and investors include Multiple select question. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. It may just be the cornerstone of your success. A. stockholders Multiple Choice America's CEOs Seek a New Purpose for the Corporation Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. A. Whistleblower The You Design, We Build Company makes custom furniture of all kinds. an individuals behavior is influenced by the behavior of others. requiring suppliers to be evaluated monthly concerning It is a set of guidelines for dealing with various procedures ethically. Explanation \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ C. providing all relevant information about current and projected performance of the firm. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility Packaging requirements 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. However, anyone caught violating a law will be immediately fired." 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. A. Discrimination and Harassment. Ethical standards are different from country to country. 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. whistleblowers. Implementing ethical standards within an organization starts with: An employee who reported her boss to the SEC for insider trading would be considered a(n) _____________ protected by law. corporate policy A. code of ethics. Ethical Behavior Is Essential to Business - Business News Daily For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Sarbanes-Oxley Ruling 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. Paying employees on specified pay dates most of the time. [B] passing laws to make accounting records more transparent A business should be managed ethically for many reasons: to maintain a good reputation; to keep existing customers and attract new ones; to avoid lawsuits; to reduce employee turnover; to avoid government intervention; and to please customers, employees, and society. Maria Juarez is a professional tennis player, and your firm manages her money. 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 . B. maintaining proper accounting procedures. Explanation Why Should Businesses Act Ethically? - Business Ethics and Corporate using recyclable packaging It is essentially a moral compass. Other countries also follow capitalist principles. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. B. improve corporate profits. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. 2. Organizational ethics begins Multiple Choice at the top levels of management. Multiple select question. Positive Effects of . decreased financial donations and eliminated support in almost every way. Multiple choice question. Top leaders from other countries have been charged with bribery. [A] Influence peddling U.S. law does not require U.S. firms to comply because of competitive advantage concerns. pro-current procurement. Which step is the most critical to help improve business ethics? \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ [A] it reduces employee turnover Multiple choice question. Typically, it is the kind of information where parties in the know can benefit. profitable charities C. Corporate strategy Even small companies participate in _______ through donations and volunteer support of local causes and national charities, such as the Red Cross and the United Way. [B] most of those who caused the crisis going to jail Explanation Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. List the most influential on top. The mortgage bankers and real estate companies who helped create the financial crisis of 2008 were driven by, Financial and political leaders can restore trust in the free market system by: 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. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. holding international suppliers to different standards than American companies must adhere to in the United States. [A] To attract customers Ethical Definition & Meaning - Merriam-Webster All successful businesses communicate effectively. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. [B] it increases the likelihood of government intervention We covered: How data teams can actually design ethical ML models, after . Community members are bound by the pursuit of common values and goals. actual ethics. 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. structure and strategy. B. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. ", Corporate social responsibility is when businesses are concerned C. Accounting fraud a written code of ethics 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. It emphasizes sustainability, customer loyalty, brand image, and employee retention. True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. unethical __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Multiple Choice tax officials. Recently, top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and to list negative occurrences that supervisors observed. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. 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. When management considers ethics in its actions toward stakeholders, employees can be positively affected. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and ethical officers 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. 8 Mini-Case Study, Intro-Into-Business: Ch. B. opportunity. Multiple select question. asking suppliers to lower their standards to be in compliance with C. all levels of management. Business Should Always Be Ethically and Socially Responsible [D] severe financial crises. for the welfare of society as a whole, True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Managing Business Ethics - Ethical Systems Workplace and colleague wellbeing. D. maximizing their investment in the firm. a clear set of rules and regulations Integrity-driven ethics codes Ethics can be rooted in belief or the pursuit of making the world better. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. It seeks to promote honesty, fairness, and responsibility in all advertising. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Internal Audit Company Protection Act This is called a bounty provision because as stated, they may receive a monetary award for their actions. An important reason for a company to maintain its ethical reputation is Which of the following is the BEST reason for a business to be managed ethically? True Often, business ethics involve a system of practices and procedures that help build trust with the. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. Increased control over employee actions. D. buying the company's products. J. M. D'Aquila, D. F. Bean, and E. G. Procario- Foley (2004) reported that 97% of business leaders perceive American businesses as ethical, versus 24.5% of students. (C) to increase employee turnover (A) it prevents government audits higher ethical standards than in the past. Ethical Dilemmas: How Scandals Damage Companies Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. This, then, creates greater stability within the company.. Rank the following jobs according to their importance in influencing the implementation of ethical standards. A. expanding the opportunity to behave ethically by providing rewards for following the rules. If your supervisor directed you to enter false information into a sales order book and told you if you refused that you would lose your opportunity for promotion, you would probably consider this situation to be a(n), According to the text, ethical behavior begins with. True or false: Many investors believe that by choosing to put their money into companies whose goods and services benefit society, they can improve society's financial health as well as their own. (A) matter very little to employers A business should be managed ethically because Multiple select question. D. varies from industry to industry. B. Whistleblowing C. Plagiarism B. philanthropy This includes managers and subordinates, peers and clients. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. Scandals. These define the company's guiding values, and most often it involves shared accountability. (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 In the workplace, there might be a standard for ethics set throughout the company. In fact, data collected by Ethisphere, an organization that tracks the ethical conduct of the worlds largest companies, found that the businesses listed on its 2022 list of most ethical companies outperformed an index of similar large cap companies by 24.6 percent overall. Which of the following were not identified as being fundamental to the CSR definition? likely to perform better financially Business Ethics: Definition, Principles, Why They're Important setting a good example. Governments Chapter 4 - Business Flashcards | Quizlet general guiding values internal search and occupy organizations. Which of the following would least likely involve ethical concerns? They should display behavior that is honest and fair in their relationships with co-workers and their. The deliberative system leads to more-ethical behaviors. A. you need to justify socially responsible behaviour from an investors standpoint only. allows them to reach specific groups more directly. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) Giving back to society Multiple Choice social impact program. Practice deception regarding product safety issues. information technology Ethical management generates trust, and trust increases productivity. allow for complete anonymity The Importance of Business Ethics | Maryville Online it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? C. often experience customer loyalty problems. Business principle (3) Flashcards | Quizlet