Compliance-based ethics codes [B] passing laws to make accounting records more transparent Full-time co-workers 3. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. Businesses should create and display their code of ethics publicly. Though there are many ethical opinions that most people share, ethics will differ from person to person. C. Operational initiatives whistleblowers Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. Defines an organization's guiding principles. It could also mention specific protocol within the business. False. [B] most of those who caused the crisis going to jail likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." A well-implemented ethics program can also reduce losses. Should an instance occur, the result could be devastating to your company's finances and reputation. B. varies even among those who are interested in corporate responsibility. D. stockholders. 22. Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. 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 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.. Businesses must abide by some basic principles. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. 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. D. structure and strategy. called stakeholder interest about being fair and honest with their stakeholders Business ethics concerns ethical dilemmas or controversial issues faced by a company. A business's responsibilities to its owners and investors include (C) occur in many countries Top management is essentially conducting a(n) Multiple choice question. Practice deception regarding product safety issues. Integrity-driven ethics codes communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: 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. B. [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is using recyclable packaging A business should be managed ethically for many reasons to maintain a good. If the verb is already correct, write C above it. increasing the diversity of their workforce to increase employee turnover If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: A business starts with the correct usage and allocation of finances and cost management. Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Multiple choice question. 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. D. Mayhem An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. Ethics are the standards of right and wrong set for us by society, whereas legality refers to. going to save money by not hiring those who are disabled pro-current procurement. Governments HR professionals sometimes face ethical or moral dilemmas. 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. Those who argue in favour of corporate social responsibility suggest that: 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. 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. protecting the owners' rights and investments. (D) occur in only a few countries. (D) going to lose money by providing pay raises, A business should be managed ethically because While these actions might not be illegal, they can definitely have negative effects on the morale and success of a company, especially if their dirty laundry is aired publicly. C. writing their representatives in Congress. Studies have found a _____ correlation between academic dishonesty and dishonesty at work. [D] allows them to connect directly with customers. Ethical behavior includes honesty, fairness, integrity and understanding. corporate raiders. C. help laid-off employees get their jobs back. E. All of the answers are correct. Which step is the most critical to help improve business ethics? increased their financial donations because they understood how badly society needed a helping hand. 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. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? C. diversity Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that 1 Mini-Case Study, (Learning Curve 11 a) Body Development; Cogni, (LearningCurve 11b) Becoming Your Own Person-, chapter 3 psy 200 (LearningCurve 3b) Survivin, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. Who sets the standards of right and wrong as defined by ethics? 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. (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: C. moral philosophy. 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? Vanessa recognizes this as a(n) ________-based code of ethics. Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. compliance police. Sherman Act [B] Bribery What kind of person do you think Paulsen is? 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. The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. In "Two Kinds," how does the narrator feel after the talent show? How to Write a Self-Assessment: 5 Tips to Improve Do Not Sell/Share My Personal Information, Limit the Use of My Sensitive Personal Information. When management considers ethics in its actions toward stakeholders, employees can be positively affected. Unfair competitive practices in the computer industry In one such study, led by Kaifeng Jiang, a professor at the Ohio State University Fisher College of Business, researchers examined the intersection between the quality of service a business offers and its adherence to ethical mores by looking into conditions at nearly 200 movie theaters. Explanation Supervisor A. responsibility DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. [C] only to compete and make a profit reaches broad and diverse groups C. An ethics office must be set up. Multiple Choice Multiple select questions. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. enjoy greater employee loyalty C. the increase in lawsuits used to avoid personal responsibility. Deceptive advertising of medicines and toys Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. (C) benevolence is the highest virtue \text{Total production cost} & \text{\$ 9.20}\\ 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. Which of the following are true regarding ethical behavior? setting a good example. Therefore, it is the most significant resource to run or upgrade any business. Other countries also follow capitalist principles. Here are five reasons why you should keep things legal and follow business ethics in accounting. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. varies among those who are interested in corporate responsibility. When Paulsen describes Storm, he also gives clues about his own personality. information technology Multiple select question. general guiding values B. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. 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? When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. Multiple Choice social audit. Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? Ethical management generates trust, and trust increases productivity. reducing most costs School McMaster University; Course Title COMMERCE 1E03; Type. Multiple Choice Strict global regulations require it. Workplace and colleague wellbeing. Explanation It may just be the cornerstone of your success. Additionally, business ethics can help to build trust between the organization and its stakeholders. B. maintaining proper accounting procedures. CSR can lead to even more profits. Dodd-Frank Wall Street Reform and Consumer Protection Act Religious institutions, Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? Multiple Choice Then, of course, there are the more serious consequences of highly unethical behavior. 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. A high ethical standard extends to customers as well. B. Horn blower social audit. compliance-based ethics D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. Explanation The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. reaches broad and diverse groups That person called five of his relatives and several friends. 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. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. B. 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: Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. It does not subtract from the bottom line; it adds to it. Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. Multiple choice question. social order ethics 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. A. 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 . Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? (D) long jail terms for those who acted unethically. corporate policy Multiple select question. Full-time co-workers Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. There are a wide variety of examples of ethical behavior in the workplace. [A] few losses to investors The You Design, We Build Company makes custom furniture of all kinds. based on a commitment to integrity and respect (A) businesses who are socially responsible will earn more internal investigation. [D] requiring all bankers to sign ethical codes. 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. \end{matrix} D. companies who are perceived as being socially responsible will ultimately earn more profits for their Today, as many Americans (64%) say that a company's "primary purpose" should include "making the world better" as say it should include "making money for shareholders." Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it.
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