requiring suppliers to be evaluated monthly concerning Full-time co-workers 3. separating themselves from suppliers who violate During the last recession monetary contributions decreased and companies found ways to continue their philanthropic participation by asking employees to donate time to corporate social initiatives and other projects. A. Whistleblower Customer privacy policies and practices However, it was disclosed that somehow a member of Paulie's management team mentioned the deal to a person he sat next to on a flight from LA to Seattle. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. A. protecting the owners' rights and investments. investors. Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. Trust and cooperation between workers and managers must be based on which of the following? She has asked you to give her information about what determines the level of various interest rates. 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: Demanding Ethical and Socially Res, Intro-Into-Business: Ch. (B) have higher turnover internal search and occupy organizations. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. Putting Ethical Design into Practice. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. Its easier for a business to retain employees when they work for a company that they believe in. CSR can lead to even more profits. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. an individual's ethics If an underlined word is already in the correct possessive form, write a C on the line. 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. B. increased their financial donations because they understood how badly society needed a helping hand. B. Horn blower It seeks to promote honesty, fairness, and responsibility in all advertising. Multiple choice question. Sarbanes-Oxley Ruling C. teamwork eliminates a need for personal ethics. 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? D. Outsourcing practices separating themselves from suppliers who violate. [A] few losses to investors When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. (C) to increase employee turnover D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? Multiple select question. What does the research into business ethics say? Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. 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. a written code of ethics In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. human resource support staff B. the police in jurisdictions where the business has operations. Which of the following would be a unique focus of an integrity-based ethics code? allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: insider trading. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be List the most influential on top. information technology Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. A company that has socially responsible human resources management is benevolence can lead to a vote of no confidence by company stakeholders. Should an instance occur, the result could be devastating to your company's finances and reputation. Multiple Choice On the line provided after the sentence, write the possessive form of the underlined words. draw more customers, Many investors believe Businesses should create and display their code of ethics publicly. Multiple choice question. stockholders enjoy greater employee loyalty Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. The employment of ethical business practices can enhance overall corporate health in three important areas. 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 . using recyclable packaging B. personal responsibility C. compliance Which of the following represent examples of how corporations set positive standards of ethical behavior? B. expressing dissatisfaction by protesting. Codes of ethics foster ethical behavior by 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. When Paulsen describes Storm, he also gives clues about his own personality. Periodically asking every employee to evaluate the company's ethics performance. Corporate social responsibility is based on a 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.. Both positive and negative activities are measured. An important factor in enforcing an ethics code is: In turn, employees will trust that their leadership team is working toward the greater good of the entire company. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. The concern businesses have for the welfare of society, not just for their owners is: Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Multiple Choice True false question. Rank the following jobs according to their importance in influencing the implementation of ethical standards. actual ethics. An organization's managers instill corporate values and _____________________ in employees by the examples they set. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. An important reason for a company to maintain its ethical reputation is Multiple select question. 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. varies among those who are interested in corporate responsibility. Companies that participate in CSR typically have more loyal employees and customers. The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. Ethics can be rooted in belief or the pursuit of making the world better. Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. Here are other common examples of ethical behavior: No matter the relationship between two people and what they agree or disagree upon, people within an organization should always respect each other. B. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) Supervisor 4. C. helps government officials develop appropriate legislation. Demanding Ethical and Socially Res, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Natuurwetenschappen eerste jaar examen trimes. Multiple choice question. Explanation Top leaders from other countries have been charged with bribery. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? 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. lose sales revenues The total rent on the plant is$80.000 per period. This will ensure that you have trustworthy employees working for you. 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. 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. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: [A] it reduces employee turnover Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. True [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is B. helping others the federal government Written ethics codes can be categorized as 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. Supervisor Multiple Choice Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. 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. Depreciation is due to obsolescence rather then wear and tear. What kind of person do you think Paulsen is? Society \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. social order ethics Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. Global Business Ethics. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Compliance-based ethics codes D. Mayhem Chapter 4. Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. to increase employee turnover Multiple select question. aggregate independent appraisal. D. Integrity watchdog. A. A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . 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 . Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. allows them to reach specific groups more directly, allows them to connect directly with customers Research has shown that companies engaged in corporate social responsibility (CSR): (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: _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. free from the concern of B. a failure of leadership to establish ethical standards. A. for the welfare of society as a whole, about being fair and honest with their stakeholders likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . [C] The U.S. government will use military force to enforce labor laws.. The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. A. Example 1. many Americans decide what's ethical based upon the situation in which they find themselves. However, anyone caught violating a law will be immediately fired." analysts. Ethical issues are limited to for-profit organizations. D. help investors recoup their losses. 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. Which of the following is not one of the approaches associated with corporate social responsibility? Multiple choice question. Multiple select question. 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. The last recession changed the way many companies offer support to people and communities in need. An important reason for a company to maintain its ethical reputation is E. help restore confidence in Corporate America and Canada. [A] To attract customers Multiple Choice Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. C. business exists only to make money for shareholders. Which of the following is a reason why a business should be managed ethically? the collection of laws to protect society from fraud, theft, and violence. 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. . Top management is essentially conducting a(n) 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. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. This is an example of corporate: To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. (D) long jail terms for those who acted unethically. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. Unfair competitive practices in the computer industry hiring only women and minorities \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ 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. Ethical behavior has significant upfront costs which may never be recovered. B. focus on cost and quality control systems within your organization. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. 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. Due to the fact that it is not yet public, those who act upon the information have an unfair advantage and stand to gain financially. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. C. Operational initiatives Discrimination and Harassment. 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 false question. Which of the following describes charitable donations by corporations to nonprofit organizations? called stakeholder interest Product safety (C) 4 out 5 citizens volunteer an hour each week He also believed anything other than that would be considered: First and foremost, father of 5 and grandfather to 3.<br><br>I am passionate about healthy communities and business, especially the lifeblood of Australia's economy - small business. [C] Paying U.S. minimum wage reducing regulations about labeling ", Corporate social responsibility is when businesses are concerned (A) it prevents government audits integrity-based ethics D. guideline. Which of the following statements about business ethics is false? Ethical behavior means your team operates according to fair and transparent standards, not just complying with legal rules or regulatory requirements, but going above and beyond to ensure decisions are applied through an ethical lens. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. A well-implemented ethics program can also reduce losses. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. D. employee retaliation by doing the minimum needed to get by. [C] making businesspeople more accountable for their actions 1. (A) are just part of doing business Defines an organization's guiding principles. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. Strict global regulations require it. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. Explanation Employees and management alike can work together to create businesses that have high standards. is costly, but worthwhile in reaching specific customers concern for the welfare of society ___________ __________ ______________is a business's concern for the welfare of society. A. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Stresses shared accountability Which of the following are reasons a business should be managed ethically? Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. because strict global regulations require it Corporate values are: compliance-based ethics [C] conducting objective investigations Multiple Choice Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. penalizing wrong-doers, increasing control Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? E. Employee benefit programs. Business ethics helps to optimize company resources. Often, business ethics involve a system of practices and procedures that help build trust with the. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. 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 business should be managed ethically for many reasons to maintain a good. 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. Ethical management generates trust, and trust increases productivity. a clear set of rules and regulations C. Watch tower sentinel \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ Ethical behavior can have negative consequences to the bottom line in the long run. 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. B. improve corporate profits. [B] Bribery It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. general guiding values Maximizing ethical conflict in work groups One entity (e.g., a person, a firm) "does business" with another when it exchanges a good or service for valuable consideration, i.e., a benefit such as money. 1. C. Increased penalties for code violators. A. Explanation A. reduced employee turnover. A. you need to justify socially responsible behaviour from an investors standpoint only. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. "It's an ongoing phenomenon that must be better understood and managed and . (B) it attracts and retains customers about being fair and honest with their stakeholders Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. B. an individual's behavior is influenced by the behavior of others. C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics corporate beneficial management D. stockholders. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. Multiple choice question. Corporate philanthropy <br> I . clarifying what green means corporate responsibility Customers not concerned with the ethical or socially responsible behavior of their international suppliers. The main principles of business ethics are based in academia and on academic writings on proper business operations. Serves as full-time, tenure tracked Business Instructor for the college's Bachelor of Applied Science in Organizational Management (BAS-OM) program, teaching classroom, hybrid, and online courses. holding international suppliers to different standards than American companies must adhere to in the United States. It is essentially a moral compass. (A) likely to perform better financially Its premise is based on integrity, fairness, and respect for others. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. True Target is a business. Which of the following represent examples of how corporations set positive standards of ethical behavior? B. Whistleblowing C. Plagiarism From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. It does not subtract from the bottom line; it adds to it. 8 Mini-Case Study, Intro-Into-Business: Ch. plan to maximize profits for shareholders to spend in communities standards. But when they do, employees need to take accountability for their actions. \text{Total production cost} & \text{\$ 9.20}\\ [C] lack of trust in the free market system social justice. enjoy greater employee loyalty (A) investors putting more money into both markets E. all of the answers are correct. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. [D] They may choose to cancel orders when there are environmental abuses. Fraud profitable charities 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. unethical All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. D. maximizing their investment in the firm. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. that they can improve their own financial health by investing in companies whose goods and services benefit the community It is a set of guidelines for dealing with various procedures ethically. social media. With regard to socially responsible behavior, American businesses are increasing the diversity of their workforce It is the right thing to do. [A] They will bribe local officials to change their policies. Article. corporate policy Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. [C] only to compete and make a profit The firm has evolved into a big business due to quality and innovative work. 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. Multiple choice question. 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. 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. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. False. In the workplace, there might be a standard for ethics set throughout the company. Sherman Act An ethical business will get your employees to respect your company . Motivation. As a philosophy, ethics are the principles that guide a person's behaviour. ethical standards that are often unreasonable and cannot be met by most leaders. B. philanthropy. The best way to instill a culture of ethics among your employees is to lead by example and maintain a clear zero-tolerance policy on specific unethical behaviors, such as lying, cheating, stealing and fraud.