A. guilt payments. Startup Costs: How Much Cash Will You Need? it reduces laws and regulations Determining what is involved for a firm to be socially responsible: A. is easy. On the line provided after the sentence, write the possessive form of the underlined words. Which of the following are reasons a business should be managed ethically? Motivation. Which of the following represent examples of how corporations set positive standards of ethical behavior? (D) going to lose money by providing pay raises, A business should be managed ethically because allows them to connect directly with customers insider trading. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. (C) likely to perform worse financially The concern businesses have for the welfare of society, not just for their owners is: allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Though there are many ethical opinions that most people share, ethics will differ from person to person. In this episode of Experiencing Data, Chenda and I explore her actual methods to designing ethical AI solutions as well as how she works with UX and product teams on ML solutions. Which of the following are reasons a business should be managed ethically? (nervous). reducing most costs Scandals. Practice deception regarding product safety issues. In the following sentence, circle the subject of the underlined verb. D. Outsourcing practices based on a commitment to integrity and respect offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. penalizing wrong-doers, increasing control [C] making businesspeople more accountable for their actions C. business exists only to make money for shareholders. Periodically asking every employee to evaluate the company's ethics performance. B. an individual's behavior is influenced by the behavior of others. They need to take responsibility for what happened and be proactive in fixing it. Multiple choice question. 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. B. social media. Vanessa recognizes this as a(n) ________-based code of ethics. Executives at Enron and Tyco were found guilty ____________ of behavior that damaged their companies' reputations, The emergence of the green movement has affected businesses by. A Understanding that individual moral standards, the influence of managers and coworkers, and [D] businesses with good reputations attract customers. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. Safe working conditions Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? B. an individual's behaviour is influenced by the behaviour of others. E. filing complaints with the company. Explanation Ethics can be rooted in belief or the pursuit of making the world better. The World Trade Organization (WTO) Which of the following is the BEST reason for a business to be managed ethically? Multiple choice question. In the long run, CSR enhances profits. 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. Resource procurement and consumption practices (C) make students who know how to plagiarize well acceptable to employers There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Prepare computations showing how much profits will increase or decrease as a result of making the starters. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. corporate raiders. Multiple select question. Displaying good ethical behavior can boost company morale and client relations. (B) it attracts and retains customers 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. 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. C. practice deception regarding product safety issues. TV ads Explanation 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. Top management 4. (B) are limited to the United States For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. The authors start from the assumption that most people wish to behave ethically. Emphasizes strong penalties for wrongdoers 1. higher ethical standards than in the past. CSR can lead to even more profits. This is an example of corporate: A set of formalized rules and standards that describe what a company expects of its employees is called a(n) [B] passing laws to make accounting records more transparent E. All of the answers are correct. 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. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. asking suppliers to lower their standards to be in compliance with B. philanthropy. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? that only society's health is improved when they invest in companies whose goods and services benefit the community Multiple choice question. Organizational ethics begins Multiple Choice at the top levels of management. Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: A systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs is called: How are U.S. companies likely to pressure foreign companies to change their standards of ethics and social responsibility? The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ to increase employee turnover about being fair and honest with their stakeholders [B] most of those who caused the crisis going to jail C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics (A) likely to perform better financially 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. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. a written code of ethics It seeks to promote honesty, fairness, and responsibility in all advertising. compliance-based ethics the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. unethical 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. Economic conditions in some developing countries make child labor a necessity for the survival of families. 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. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. Personal projects All successful businesses communicate effectively. Which of the following is not one of the approaches associated with corporate social responsibility? E. law. ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Multiple Choice C. teamwork eliminates a need for personal ethics. Rank the following jobs according to their importance in influencing the implementation of ethical standards. D. guideline. The chief engineer has recommended against this move, however, pointing out that the cost to produce the starters would be greater than the current 8.40perunitpurchaseprice:8.40 per unit purchase price:8.40perunitpurchaseprice: PerUnitTotalDirectmaterials$3.10Directlabor2.70Supervision1.50$60.000Depreciation1.00$40.000Variablemanufacturingoverhead0.60Rent0.30$12.000Totalproductioncost$9.20\begin{matrix} A. The purpose of a code of ethics is to guide employees in handling ethical dilemmas. allows them to reach specific groups more directly, allows them to connect directly with customers (D) occur in only a few countries. (A) it prevents government audits American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. 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. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? 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. It's the age-old reality: "Out-of-sight, out-of-mind." Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. Many companies going to lose money by providing pay raises Multiple select question. 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 . Economics (/ k n m k s, i k -/) is the social science that studies the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work. Therefore, it is the most significant resource to run or upgrade any business. Multiple Choice [B] reaches broad and diverse groups 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 In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. whistleblowers C. a loss of employee commitment and trust in the company and its management. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ D. help investors recoup their losses. reaches broad and diverse groups Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. CSR can lead to even more profits. C. It is the law in the U.S. D. Employees. 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. Fraud Multiple select question. 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? social audit. The firm has evolved into a big business due to quality and innovative work. corporate responsibility B. focus on cost and quality control systems within your organization. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. moral impropriety. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that Here are five reasons why you should keep things legal and follow business ethics in accounting. 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. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". [C] it reduces the likelihood of lawsuits by employees or customers This sort of behavior is not limited to the workplace; it can be present in every facet of life. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. Multiple select question. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. D. concern for the welfare of society. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. Top management [C] allows them to reach specific groups more directly Which of the following is NOT a part of an integrity-based ethics code? integrity-based ethics A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. providing safety equipment and training for their workers, increasing the diversity of their workforce 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. Depreciation is due to obsolescence rather then wear and tear. 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. A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. Emphasizes strong penalties for wrongdoers \text{ } & \text{Per Unit} & \text{Total}\\ [B] about being fair and honest with their stakeholders . Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. [C] The U.S. government will use military force to enforce labor laws.. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. Periodically asking every employee to evaluate the company's ethics performance. Top management is essentially conducting a(n) (D) long jail terms for those who acted unethically. Morality codes There are a wide variety of examples of ethical behavior in the workplace. 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. Government and business leaders are being held to A. the breakdown of traditional religious institutions. Supervisor Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. whistleblowers. Customers Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. 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 Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. The findings reveal that quality service and an ethical business plan are essential to long-term business success. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. Its premise is based on integrity, fairness, and respect for others. Compliance-based ethics codes The term business ethics refers to the set of moral principles that guides a company's conduct.
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