C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and If an underlined word is already in the correct possessive form, write a C on the line. Another reason why business ethics is important is that it can improve profitability. [B] They may choose to cancel orders when there are human rights abuses. Many companies Which of the following is a reason why a business should be managed ethically? Multiple choice question. Full-time co-workers A. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. Prepare computations showing how much profits will increase or decrease as a result of making the starters. Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. A Understanding that individual moral standards, the influence of managers and coworkers, and draw more customers, Many investors believe '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. [B] it increases the likelihood of government intervention D. to please customers, employees, and society. B. personal responsibility C. compliance A set of formalized rules and standards that describe what a company expects of its employees is called a(n) 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. Employees and management alike can work together to create businesses that have high standards. Multiple select question. Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. Which of the following represent examples of how corporations set positive standards of ethical behavior? increasing control When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. 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 systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . (C) occur in many countries Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be C. often experience customer loyalty problems. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. Ethical behavior does not matter to investors. social policy China is a communist country. the collection of laws to protect society from fraud, theft, and violence. C. commitment to a management training program. standards. An important factor in enforcing ethics codes is selecting a(n) ________ ________. 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. Explanation Fraud 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. 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.. In the following sentence, circle the subject of the underlined verb. E. filing complaints with the company. [A] for the welfare of society as a whole Explanation Those who argue in favour of corporate social responsibility suggest that: cultural and accountable Whistleblowers are insiders who report illegal or unethical behavior. There are a wide variety of examples of ethical behavior in the workplace. the federal government Multiple choice question. socially conscious research organizations. 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 [A] it reduces employee turnover It emphasizes sustainability, customer loyalty, brand image, and employee retention. All else held equal, socially responsible firms: A. are viewed more favourably by consumers. Putting Ethical Design into Practice. Strict global regulations require it. customers [B] most of those who caused the crisis going to jail corporate social responsibility, Corporate social responsibility is when businesses are concerned 1. It does not subtract from the bottom line; it adds to it. [B] reaches broad and diverse groups E. Employee benefit programs. True Multiple choice question. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. C. Research practices insider trading. going to save money by not hiring those who are disabled Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Government and business leaders are being held to (nervous). D. concern for the welfare of society. Dodd-Frank Wall Street Reform and Consumer Protection Act corporate social initiative Multinational corporations are committed to operating within the legal limits of U.S. law. social media. 360-review. C. Research practices C. practice deception regarding product safety issues. Which of the following statements is false? draw more customers, retain better employees Multiple select questions. Its easier for a business to retain employees when they work for a company that they believe in. It is essentially a moral compass. The term business ethics refers to the set of moral principles that guides a company's conduct. \end{array} information technology 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. A company that has socially responsible human resources management is All successful businesses communicate effectively. 2. 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. Amber was observing an example of the ___________ followed at this organization. Top management 4. (B) it is using investors' money in ways they did not intend Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. corporate raider divisions. False. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." Economic conditions in some developing countries make child labor a necessity for the survival of families. not concerned with the ethical or socially responsible behavior of their international suppliers. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility How Does 401(k) Matching Work for Employers? E. all of the answers are correct. Workplace and colleague wellbeing. Displaying good ethical behavior can boost company morale and client relations. Explanation This will ensure the stability of all structural parts, help to form a sense of belonging to one community with the same goals and aspirations. requiring suppliers to be evaluated monthly concerning Multiple select question. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. D. stockholders. B. D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. 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. True false question. 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. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. 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. (C) 4 out 5 citizens volunteer an hour each week [C] only to compete and make a profit B. Whistleblowing C. Plagiarism benevolence can lead to a vote of no confidence by company stakeholders. D. short run profit maximization. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and They should display behavior that is honest and fair in their relationships with co-workers and their clients. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. B. philanthropy False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: Think about a business that hires only family or one that gives inappropriate incentives, for example. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. (C) gains for investors in 2008 and 2009 (A) matter very little to employers In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. Multiple choice question. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. Multiple choice question. leaving unethical behavior unpunished corporate inclusion policy Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? Research has shown that companies engaged in corporate social responsibility (CSR): Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. 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. The last recession changed the way many companies offer support to people and communities in need. Which of the following are reasons a business should be managed ethically? <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . The concern businesses have for the welfare of society, not just for their owners is: The following data have been assembled for the business: InsuranceExpense$2,000SalariesExpense$37,000ServiceRevenue80,000AccountsPayable4,300UtilitiesExpense500OfficeSupplies1,500RentExpense11,000Dividends4,500CommonStock8,500AccountsReceivable7,500Cash7,000Equipment26,600RetainedEarnings,Jan.1,20164,800\begin{array}{lrlr} Who sets the standards of right and wrong as defined by ethics? Explanation promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: A. code of ethics. Reevaluating its ethics codes based on the input of its customers. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. socialism integrity-based ethics Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. This indicates that: A. dancing around issues should be part of a firm's code of ethics. 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 company's effectiveness and financial performance are most affected by responsible _________ _________ management. This sort of behavior is not limited to the workplace; it can be present in every facet of life. With over 20 years of consulting experience across various industries throughout Australia and abroad, I am known for my ability to develop and turn creative strategies into efficient execution and excellent . 'Business' can mean an activity of exchange. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. Answer (1 of 4): When you manage a business ethically it attracts the right people that can suit your company culture and proficiently fit with your business. It is a set of guidelines for dealing with various procedures ethically. An organization's managers instill corporate values and _____________ in employees by the examples they set. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. Multiple choice question. corporate social initiative Defines an organization's guiding principles. D. employee retaliation by doing the minimum needed to get by. Ethical issues are limited to for-profit organizations. Multiple Choice Multiple Choice help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? Basic ethical practices have been gleaned through research and practical study of how businesses function, and how they operate, both independently and with one another. additional taxes InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. [A] outsourcing enforcement of the laws to private firms It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. tax officials. Socially conscious investors insist that a company extend its own high standards to its ____________________. global policy True Sarbanes-Oxley Ruling 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. C. writing their representatives in Congress. \text{ } & \text{Per Unit} & \text{Total}\\ Marketing, Finance, Sales), technical roles (e.g. Rank the following jobs according to their importance in influencing the implementation of ethical standards. separating themselves from suppliers who violate. How does the action I am proposing to take make me feel about myself? Distributors. [D] businesses with good reputations attract customers. [C] To increase employee turnover True false question. social order ethics (B) have higher turnover Multiple choice question. ", Corporate social responsibility is when businesses are concerned 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. that only society's health is improved when they invest in companies whose goods and services benefit the community Business ethics helps to optimize company resources. Unfair competitive practices in the computer industry The 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. Explanation Businesses should create and display their code of ethics publicly. [C] making businesspeople more accountable for their actions It may just be the cornerstone of your success. D. integrity. C. Investor relations Product safety C. diversity [B] Bribery [A] is costly, but worthwhile in reaching specific customers Dont make ethics an afterthought in your company culture. B. maintaining proper accounting procedures. Multiple Choice Ethics are the standards of right and wrong set for us by society, whereas legality refers to. The companys vision, values and mission should be clearly stated and visible to both employees and clients so that the company can be held to those standards. called stakeholder interest Businesses can show their CSR in many ways. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. 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. Trust and cooperation between workers and managers must be based on which of the following? \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ allow for complete anonymity Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. Multiple choice question. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. 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. 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. Trustworthiness. many Americans decide what's ethical based upon the situation in which they find themselves. 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? Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma?
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