Eric Allgood - Managing Director - Small Business Assistance and Chapter 4. Business Ethics - A Successful way of conducting business Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? D. to please customers, employees, and society. (A) are just part of doing business (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: (B) 3 out of 4 citizens think they should be paid for their volunteer work Why Business Should Be Managed Ethically - Liveboardroom.info InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. When there is a base level of respect established, people take criticism less personally, are able to communicate more openly, and can see and value the other persons perspective. This is due to the fact that our ethics are shaped by our moral code. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. If an ethical tone is set at the top and followed by management, everyone who works there will hold themselves and each other to those standards. B. improve corporate profits. D. short run profit maximization. A business starts with the correct usage and allocation of finances and cost management. The authors start from the assumption that most people wish to behave ethically. E. A criminal lawsuit. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. 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 . B. B. ability to plan for the unexpected. "It's an ongoing phenomenon that must be better understood and managed and . Multiple Choice . Business ethics isnt always exalted in every workplace, but its critically important when it comes to providing customers with quality service, adhering to regulatory compliance standards, and avoiding steep fines and lawsuits. False. Multiple select question. We covered: How data teams can actually design ethical ML models, after . True false question. Typically, it is the kind of information where parties in the know can benefit. An ethical business will get your employees to respect your company . A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. It emphasizes sustainability, customer loyalty, brand image, and employee retention. government-supported direct mail campaigns Explanation The side effects are so great that the society urges that the business should always be ethically and socially responsible. 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. D. structure and strategy. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? 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. Explanation [A] Influence peddling reaches broad and diverse groups B. varies even among those who are interested in corporate responsibility. True 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. 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. Supervisor 2. Corporate social responsibility is based on a Chapter 4 LearnSmart Quiz Flashcards | Quizlet Ethical Behavior Is Essential to Business - Business News Daily [D] allows them to connect directly with customers. ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . Multiple choice question. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. And could be pivotal for career growth. Community members are bound by the pursuit of common values and goals. 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. She was even _____ after her solo than before. human resource support staff D. integrity. How are these two rates measured? Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management A. [B] allowing management to decide the outcomes of investigations Society 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. social initiatives B Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Multiple Choice What Does Ethical Decision Making Mean? corporate raiders. School McMaster University; Course Title COMMERCE 1E03; Type. 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. C. energy consumption In fact they contribute to it: 1. [C] lack of trust in the free market system In the long run, CSR enhances profits. [B] share all information with managers when requested B. Horn blower Corporate responsibility Multiple select question. internal search and occupy organizations. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. Business Ethics - Stanford Encyclopedia Of Philosophy Corporate philanthropy Multiple choice question. To allow whistleblowers to come forward with information organizations should Distributors. Other countries also follow capitalist principles. Businesses should create and display their code of ethics publicly. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. analysts. Integrity-driven ethics codes B. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that How to Get a Bank Loan for Your Small Business, How to Conduct a Market Analysis for Your Business, Guide to Developing a Training Program for New Employees. ___________ __________ ______________is a business's concern for the welfare of society. It seeks to promote honesty, fairness, and responsibility in all advertising. A. False, Whistleblowers can be helped by protecting them from: Multiple choice question. separating themselves from suppliers who violate Unethical businesses also lose favor with consumers. [A] is costly, but worthwhile in reaching specific customers 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. 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. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and compliance-based Explanation Scandals. Multinational corporations are committed to operating within the legal limits of U.S. law. 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: that they can improve their own financial health by investing in companies whose goods and services benefit the community Reevaluating its ethics codes based on the input of its customers. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. leaving unethical behavior unpunished social audit. Though there are many ethical opinions that most people share, ethics will differ from person to person. Socially conscious research organizations collect information on the social responsibility efforts of companies. 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? In the study, researchers determined that a higher quality of service positively impacted business operations when ethical adherence was also high. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. Multiple select question. E. all of the answers are correct. Why Are Business Ethics Important? A Guide - Investopedia Business ethics benefits the bottom line. D. stockholders. Multiple Choice integrity-based The moral and ethical standards by which leaders are judged are far stricter than in the past. Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. Discrimination and Harassment. 1. reaches broad and diverse groups Ethics can be rooted in belief or the pursuit of making the world better. 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 Full-time co-workers 3. higher ethical standards than in the past. This, then, creates greater stability within the company.. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. Source interviews were conducted for a previous version of this article. This sort of behavior is not limited to the workplace; it can be present in every facet of life. [B] Bribery (C) gains for investors in 2008 and 2009 (B) it attracts and retains customers D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. B. setting a good example. Multiple choice question. Organizational ethics begins Multiple Choice at the top levels of management. A. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. Maximizing ethical conflict in work groups Here are five reasons why you should keep things legal and follow business ethics in accounting. 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. Who sets the standards of right and wrong as defined by ethics? decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Then, of course, there are the more serious consequences of highly unethical behavior. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Chapter 4. The deliberative system leads to more-ethical behaviors. C. to attract new customers and retain existing customers. social policy internal investigation. Increased control over employee actions. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. A. True false question. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. (B) have higher turnover Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. Multiple choice question. global policy U.S. law does not require U.S. firms to comply because of competitive advantage concerns. Periodically asking every employee to evaluate the company's ethics performance. Taking Advantage of the Advantages: Gifts, Bribes, and Kickbacks social justice. A Understanding that individual moral standards, the influence of managers and coworkers, and Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. 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. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? Product safety based on a commitment to integrity and respect Multiple Choice These principles govern every aspect of the company's operations, including its interaction with the government and other businesses, its treatment of its employees and its relationship with its customers. C. An ethics office must be set up. However, anyone caught violating a law will be immediately fired." It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. businesses with good reputations attract customers it reduces the likelihood of lawsuits by employees or customers it reduces employee turnover it increases the likelihood of government intervention businesses with good reputations attract customers 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. 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. corporate social initiative Multiple Choice It's the age-old reality: "Out-of-sight, out-of-mind." D. Outsourcing practices Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. acquisition stalking. Top management 4. Team and business confidence. [B] it increases the likelihood of government intervention (C) likely to perform worse financially Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. 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.. Shared accountability among employees. In a business setting, ethical behavior applies to any employee, team lead or supervisor. reducing regulations about labeling A company's effectiveness and financial performance are most affected by responsible _________ _________ management. Multiple select question. [D] businesses with good reputations attract customers. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. An ethically managed business helps to reduce employee turnover. Governments allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: Morality codes it attracts and retains customers It is essentially a moral compass. Multiple choice question. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. She has asked you to give her information about what determines the level of various interest rates. Explanation But when they do, employees need to take accountability for their actions. Ethics in Management | Encyclopedia.com Explanation D. companies who are perceived as being socially responsible will ultimately earn more profits for their B. maintaining proper accounting procedures. pro-current procurement.
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