Multiple choice question. Ethical Behavior Is Essential to Business - Business News Daily Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. List the most influential on top. U.S. companies follow the lead of consumers, and at this time, there is no evidence of a trend toward concern for better human rights and environmental standards. A. Internet A. reduced employee turnover. employees and internal public relations HR Ethical Dilemmas - SHRM of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition Many businesses believe that they should have an influential and important role in: Societies set the standards for moral behavior, known as, About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through __________ work. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Multiple select question. Explanation Multiple Choice (nervous). G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . Distributors. E. help restore confidence in Corporate America and Canada. Ethical issues are limited to for-profit organizations. corporate policy Emphasizes strong penalties for wrongdoers Multinational corporations are committed to operating within the legal limits of U.S. law. Motivation. Resource procurement and consumption practices B. Which of the following are true regarding ethical behavior? Top leaders from other countries have been charged with bribery. technical policy Ethical standards are different from country to country. free from the concern of Article. What Are Business Ethics and Why Are They Important? Reading: Global Business Ethics | International Business - Lumen Learning C. diversity (D) 3 out of 4 citizens volunteer, but cheat on their taxes, Using information from the internet or other sources without giving credit to the author is, The strong relationship between academic dishonesty and dishonesty at work is likely to C. Investor relations 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: True false question. 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. Ethical Definition & Meaning - Merriam-Webster he 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. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? D. stockholders. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. B. a failure of leadership to establish ethical standards. Scandals. holding international suppliers to different standards than American companies must adhere to in the United States. [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. Explanation corporate social responsibility, Corporate social responsibility is when businesses are concerned Managing Business Ethics takes the view that ethical and unethical conduct are primarily the product of how systems align within an organization to promote certain kinds of behavior. Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. The last recession changed the way many companies offer support to people and communities in need. D. concern for the welfare of society. CSR can lead to even more profits. Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. integrity-based True actual ethics. Determining what is involved for a firm to be socially responsible: A. is easy. leaving unethical behavior unpunished Whistleblowers are insiders who report illegal or unethical behavior. Studies have found a _____ correlation between academic dishonesty and dishonesty at work. The total rent on the plant is$80.000 per period. B. varies even among those who are interested in corporate responsibility. C. teamwork eliminates a need for personal ethics. Product safety False. (B) it is using investors' money in ways they did not intend (B) have higher turnover Multiple choice question. Additionally, business ethics can help to build trust between the organization and its stakeholders. draw more customers, Many investors believe allow for complete anonymity 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. 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 . This indicates that: A. dancing around issues should be part of a firm's code of ethics. standards. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. The majority of CEOs blame unethical employee conduct on: B. expressing dissatisfaction by protesting. Examples of ethical behaviors in the workplace includes; obeying the company's rules, effective communication, taking responsibility, accountability, professionalism, trust and mutual respect for your colleagues at work. Multiple Choice The moral and ethical standards by which leaders are judged are far stricter than in the past. Explanation Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. True false question. formal and informal. Full-time co-workers 3. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. plan to maximize profits for shareholders to spend in communities With respect to business ethics, it can be said that "it takes two to tango." social justice. Synonym Discussion of Ethical. 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} D. Improved awareness of the relevant laws. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Why Should Businesses Act Ethically? - Business Ethics and Corporate A well-implemented ethics program can also reduce losses. integrity-based ethics The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. (A) investors putting more money into both markets Multiple Choice Maximizing ethical conflict in work groups How can. 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. Multiple choice question. True When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. C. Accounting fraud InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. general guiding values Global Business Ethics. Although these actions were not part of the mandatory waitstaff training, Amber perceived that waitstaff members who were not helping out were not viewed as team players by the majority of employees. A. Overstating an expense report. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. Increased control over employee actions. It is the right thing to do. How are these two rates measured? A company that has socially responsible human resources management is Value (ethics and social sciences) - Wikipedia tax officials. social policy When Paulsen describes Storm, he also gives clues about his own personality. Responsible business behavior depends on the responsible behavior of each ______ in the business world. All else held equal, socially responsible firms: A. are viewed more favourably by consumers. D. maximizing their investment in the firm. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. corporate inclusion policy A business's responsibilities to its owners and investors include By being ethical, leaders can foster an environment that rewards and encourages good attitudes. Managing Business Ethics - Ethical Systems 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. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. varies among those who are interested in corporate responsibility. aggregate independent appraisal. In a business setting, ethical behavior applies to any employee, team lead or supervisor. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. A. [A] for the welfare of society as a whole C. to attract new customers and retain existing customers. only with their responsibility to their shareholders Top management at Lancer Distributing is convinced that they have a social responsibility to their community. A. 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. A. profits. What is ethical is determined by the public, government regulators, interest groups, competitors and each individuals personal moral values, Studying business ethics will not necessarily, Inform you concerning the impact of the work group on ethical decisions. Rank the following jobs according to their importance in influencing the implementation of ethical standards. \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ an individual's ethics This includes managers and subordinates, peers and clients. global policy Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. Which of the following represent examples of how corporations set positive standards of ethical behavior? Trust and cooperation between workers and managers must be based on which of the following? Who sets the standards of right and wrong as defined by ethics? retaliation social audit. \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ [B] most of those who caused the crisis going to jail The Sarbanes-Oxley Act and Ontario's Bill C-198 were both passed to A. punish those who committed accounting fraud in the late 1990s. Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; lower ethical standards than in the past. Team and business confidence. [D] They may choose to cancel orders when there are environmental abuses. Multiple choice question. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. Putting Ethical Design into Practice. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. that they can improve their own financial health by investing in companies whose goods and services benefit the community Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. [A] few losses to investors Its easier for a business to retain employees when they work for a company that they believe in. He also believed anything other than that would be considered: Deceptive advertising of medicines and toys Which of the following were not identified as being fundamental to the CSR definition? From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. [D] allows them to connect directly with customers. requiring suppliers to be evaluated monthly concerning 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. D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. Explanation Companies that participate in CSR typically have more loyal employees and customers. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. Which of the following would be a unique focus of an integrity-based ethics code? 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 Strategic partnering E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? 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. Multiple Choice Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. social impact program. [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is whistleblowers. Top management must adopt and support a corporate code of conduct. Your boss has prepared some questions for you to consider. E. law. An organization's managers instill corporate values and _____________ in employees by the examples they set. firms should take added caution not to support government programs that protect the environment. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. Think about a business that hires only family or one that gives inappropriate incentives, for example. A. code of ethics. compliance police. Ethical management generates trust, and trust increases productivity. This is the third year of operations for the company. Dont make ethics an afterthought in your company culture. Part-time co-workers. Business Ethics - Stanford Encyclopedia Of Philosophy Which of the following are reasons a business should be managed Safe working conditions A business should be managed ethically because, businesses with good reputations attract customers. The owners of Good Eats Restaurant in St. Louis drove several hours with a van of employees, equipment, and food to donate what they could to help the storm victims. 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. is costly, but worthwhile in reaching specific customers B. D. Pricing practices going to lose money by providing pay raises Ethics in Management | Encyclopedia.com False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: Unfair competitive practices in the computer industry D. management is insensitive to ethical issues. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. 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. allows them to connect directly with customers Dodd-Frank Wall Street Reform and Consumer Protection Act U.S. companies that operate abroad, particularly those who contract with foreign companies, are now ________ human rights and environmental standards followed by U.S. law. [C] Paying U.S. minimum wage [C] it reduces the likelihood of lawsuits by employees or customers (B) lack of trust in the free market system Multiple choice question. Unethical businesses also lose favor with consumers. The most basic question in an ethics-based management system is. (A) have fewer loyal customers but attract more of them A New Model for Ethical Leadership - Harvard Business Review Chapter 4 LearnSmart Quiz Flashcards | Quizlet Corporate social responsibility describes the firm's: A. responsibility to their stockholders. Socially conscious investors insist that a company extend its own high standards to its ____________________. (D) occur in only a few countries. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: Multiple choice question. A. Whistleblower C. a loss of employee commitment and trust in the company and its management. Ethical behavior has significant upfront costs which may never be recovered. [A] relate well to employees at all levels (D) affect hiring practices very little. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. The concern businesses have for the welfare of society, not just for their owners is: 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. It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. False. C. help laid-off employees get their jobs back. social initiatives And could be pivotal for career growth. internal investigation. Rohit Sharma - Lead Technical Product Manager - LinkedIn Trustworthiness. D. varies from industry to industry. going to save money by not hiring those who are disabled \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ A. delight them with a quality product at a fair price. B. the police in jurisdictions where the business has operations. (A) it prevents government audits Many companies standards. [A] making the charges public before the investigation allows them to reach specific groups more directly, allows them to connect directly with customers The main principles of business ethics are based in academia and on academic writings on proper business operations. Prepare computations showing how much profits will increase or decrease as a result of making the starters. 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. Integrity-based ethics codes B. helping others Shared accountability among employees. [C] The U.S. government will use military force to enforce labor laws.. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? E. all of the answers are correct. vigilantes. Multiple select question. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) A. 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. 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. B. enjoy significantly higher profits. C. Operational initiatives Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. Sarbanes-Oxley Ruling For example, international bank HSBC was subject to a decade-long enforcement action costing it $1.92 billion after the federal government determined the institution violated money-laundering laws and sanctions rules. Companies 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. 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. The benefit of using __________ to communicate a business's CSR efforts to the public is that it allows companies to reach broad and diverse groups directly in a low-cost, efficient way. C. writing their representatives in Congress. 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..
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