a business should be managed ethically because

C. structure and strategy. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. Top management All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. D. the nation's business schools that tolerate unethical behaviour in students. C. Accounting fraud (C) attract and retain better employees [B] about being fair and honest with their stakeholders Economic conditions in some developing countries make child labor a necessity for the survival of families. social policy it makes financial as well as moral sense to invest in companies that plan to create a better environment, Companies that try to act in a socially responsible way are likely to focus on such activities as Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. An important factor in enforcing an ethics code is: Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. 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. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. A well-implemented ethics program can also reduce losses. 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. allows them to reach specific groups more directly. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is A company's effectiveness and financial performance are most affected by responsible _________ _________ management. \text{Variable manufacturing overhead} & \text{0.60}\\ The findings reveal that quality service and an ethical business plan are essential to long-term business success. 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. 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. A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. 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. Internal Audit Company Protection Act Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. Explanation Maria Juarez is a professional tennis player, and your firm manages her money. True It seeks to promote honesty, fairness, and responsibility in all advertising. C. Watch tower sentinel B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and A. protecting the owners' rights and investments. corporate raiders. Supervisor 2. 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 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. C. energy consumption Chapter 4. The side effects are so great that the society urges that the business should always be ethically and socially responsible. 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 choice question. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. Multiple Choice HR professionals sometimes face ethical or moral dilemmas. 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 [D] They may choose to cancel orders when there are environmental abuses. based on a commitment to integrity and respect Resource procurement and consumption practices B. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. An important factor in enforcing ethics codes is selecting a(n) ________ ________. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. If the verb is already correct, write C above it. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. The purpose of a code of ethics is to guide employees in handling ethical dilemmas. whistleblowers Discrimination and Harassment. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: Distributors. "It's an ongoing phenomenon that must be better understood and managed and . We covered: How data teams can actually design ethical ML models, after . higher ethical standards than in the past. It emphasizes sustainability, customer loyalty, brand image, and employee retention. Multiple Choice The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. Explanation As a philosophy, ethics are the principles that guide a person's behaviour. 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. The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. [B] allowing management to decide the outcomes of investigations Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. The main principles of business ethics are based in academia and on academic writings on proper business operations. profitable charities 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. 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. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. D. shift the production of goods to foreign facilities and layoff Canadian workers. D. guideline. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ Multiple Choice 8 Mini-Case Study, Intro-Into-Business: Ch. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? Research has shown that companies engaged in corporate social responsibility (CSR): (D) make more money for investors in the short run. Example 1. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. B. personal responsibility C. compliance 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 . 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. A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. reaches broad and diverse groups A business starts with the correct usage and allocation of finances and cost management. <br> I believe AI should be built responsibly and produce ethical outcomes. Socially conscious investors insist that a company extend its own high standards to its ____________________. 1. aggregate independent appraisal. It is actually a structure of moral principles and code of conduct applicable to a business. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. plan to maximize profits for shareholders to spend in communities An important reason for a company to maintain its ethical reputation is ethical officers Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. social media _____________________ _____________________ _____________________is a business's concern for the welfare of society. [C] The U.S. government will use military force to enforce labor laws.. 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 . The total rent on the plant is$80.000 per period. Both positive and negative activities are measured. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: corporate policy Financial transparency (A) 3 out of 4 citizens do not give any time to the communities in which they live 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? C. providing all relevant information about current and projected performance of the firm. Heres How to Fix It, 10 Common Leadership Mistakes Youre Probably Making, Creating a Diversity and Inclusion Training Program, How to Be an Ethical Leader: 10 Tips for Success, Disrespectful Employees? 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: Suppliers statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility Those who argue in favour of corporate social responsibility suggest that: Think about a business that hires only family or one that gives inappropriate incentives, for example. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? Multiple choice question. A. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Team and business confidence. 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. CSR can lead to even more profits. compliance-based ethics \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ True false question. actual ethics. . B. being socially responsible is all about being ethical. Which of the following statements about business ethics is false? It may just be the cornerstone of your success. moral impropriety. insider trading. C. Increased penalties for code violators. E. All of the answers are correct. By being ethical, leaders can foster an environment that rewards and encourages good attitudes. 'Business Ethics' can be termed as a study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. the collection of laws to protect society from fraud, theft, and violence. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? integrity-based ethics Multiple choice question. A. After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. because strict global regulations require it, learned by observing the actions of others in the organization. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? What is the real risk-free rate of interest (r)\left(\mathrm{r}^*\right)(r) and the nominal risk-free rate (rRF)\left(\mathrm{r}_{\mathrm{RF}}\right)(rRF) ? A business should be managed ethically for many reasons to maintain a good. Business Ethics refers to carrying business as per self-acknowledged moral standards. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. Explanation Multiple choice question. <br> I . [B] most of those who caused the crisis going to jail It does not subtract from the bottom line; it adds to it. 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 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. A. delight them with a quality product at a fair price. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ TV ads Companies Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. 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. Multiple select question. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. Decorating Arrangements has just completed operations for the year ended December 31, 2016. the federal government Top officials in countries like Japan, South Korea, and China have faced legal charges of influence peddling and __________ charges, which serve as examples of the unethical behavior that U.S. companies face in overseas markets. cultural and accountable When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: customers 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: Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. She has asked you to give her information about what determines the level of various interest rates. C. Research practices 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. Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. C. all levels of management. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. Multiple select question. Personal projects employees and internal public relations B. opportunity. This will ensure that you have trustworthy employees working for you. B. The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. Increased control over employee actions. Explanation The second major meaning behind the term is . Multiple Choice D. Improved awareness of the relevant laws. From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. How Does 401(k) Matching Work for Employers? Ethical behavior has significant upfront costs which may never be recovered. Positive Effects of . Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? D. stockholders. 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. These define the company's guiding values, and most often it involves shared accountability. Ethical behavior does not matter to investors. socially conscious research organizations. corporate social initiative Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. 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. Explanation it reduces laws and regulations social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? tax officials. Multiple Choice What Does Ethical Decision Making Mean? Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. draw more customers, Many investors believe an individual's ethics Trust and cooperation between workers and managers must be based on which of the following? 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 The World Trade Organization (WTO) ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. clarifying what green means protect them from retaliation Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Often, business ethics involve a system of practices and procedures that help build trust with the. Ethical management generates trust, and trust increases productivity. It is an act that is against the law and against Securities and Exchange Commission policy. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. The authors start from the assumption that most people wish to behave ethically. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. C. diversity On the line provided after the sentence, write the possessive form of the underlined words. internal investigation. Which of the following statements is false? All else held equal, socially responsible firms: A. are viewed more favourably by consumers. Explanation A. 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. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ Compliance-driven ethics standards Therefore, it is the most significant resource to run or upgrade any business. corporate social initiative All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. The deliberative system leads to more-ethical behaviors. A. Whistleblower [D] favor management in their investigations, A communication tool many companies use to inform diverse groups of their social responsibility efforts at little cost is. 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 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.

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