Explanation 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. Multiple select question. Corporate philanthropy Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. Supervisor 2. Notes. clarifying what green means Businesses can show their CSR in many ways. The deliberative system leads to more-ethical behaviors. (A) are just part of doing business B. Stresses shared accountability Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. 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? ethical officers corporate raiders. (D) affect hiring practices very little. The primary value of using social media to communicate CSR efforts is that it allows companies to reach broad and diverse groups, allows them to connect directly with customers in a low-cost, efficient way, and enables them to interact with specific groups more easily than through more traditional efforts. \text{Total production cost} & \text{\$ 9.20}\\ C. the increase in lawsuits used to avoid personal responsibility. Compliance-based ethics codes focus on: Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. A. profits. A business should be managed ethically for many. E. help restore confidence in Corporate America and Canada. is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . D. management is insensitive to ethical issues. lower ethical standards than in the past. The employees of a corporation are stakeholders who are affected by management practices. 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. analysts. Multiple choice question. D. buying the company's products. integrity-based ethics An ethical business will get your employees to respect your company . \text{Variable manufacturing overhead} & \text{0.60}\\ [B] allowing management to decide the outcomes of investigations Displaying good ethical behavior can boost company morale and client relations. A. Companies Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. increased their financial donations because they understood how badly society needed a helping hand. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Unfair competitive practices in the computer industry separating themselves from suppliers who violate A well-implemented ethics program can also reduce losses. social audit. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. \end{array} Multiple select question. internal investigation. B. focus on cost and quality control systems within your organization. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. holding international suppliers to different standards than American companies must adhere to in the United States. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ By being ethical, leaders can foster an environment that rewards and encourages good attitudes. Integrity-driven ethics codes The first area is productivity. This, then, creates greater stability within the company.. unethical [D] Political risk taking. Which of the following should help reduce the incidence of unethical behavior in an organization? Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. 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. The ethics code must be enforced. Multiple Choice Multiple select question. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. 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. Giving back to society a clear set of rules and regulations social media A. In fact they contribute to it: 1. C. a loss of employee commitment and trust in the company and its management. A. human resource support staff Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Explanation Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. 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. Business Ethics - Stanford Encyclopedia Of Philosophy Supports ethically sound behavior How does the action I am proposing to take make me feel about myself? 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. [D] businesses with good reputations attract customers. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. government-supported direct mail campaigns In "Two Kinds," how does the narrator feel after the talent show? ___________ __________ ______________is a business's concern for the welfare of society. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. A business's responsibilities to its owners and investors include The side effects are so great that the society urges that the business should always be ethically and socially responsible. D. management is insensitive to ethical issues. C. all levels of management. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. that only society's health is improved when they invest in companies whose goods and services benefit the community 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? Multiple Choice She has asked you to give her information about what determines the level of various interest rates. It could also mention specific protocol within the business. What Are Business Ethics? Definition, Types and Examples Business Ethics - A Successful way of conducting business To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. Explanation higher ethical standards than in the past. Multiple select question. using recyclable packaging [C] Paying U.S. minimum wage D. Improved awareness of the relevant laws. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. List the most influential on top. acquisition stalking. Top management must adopt and support a corporate code of conduct. Whistleblowers are insiders who report illegal or unethical behavior. Ethical Dilemmas: How Scandals Damage Companies Your boss has prepared some questions for you to consider. Paying employees on specified pay dates most of the time. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. 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. 23 Ethical & Unethical Behavior Examples in Workplace - Formpl Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. Maria Juarez is a professional tennis player, and your firm manages her money. allow for complete anonymity Ethical problems such as influence peddling and bribery: In the following sentence, circle the subject of the underlined verb. Multiple choice question. Research has shown that companies engaged in corporate social responsibility (CSR): They need to take responsibility for what happened and be proactive in fixing it. Managing data ethics | Deloitte Insights C. often experience customer loyalty problems. Should an instance occur, the result could be devastating to your company's finances and reputation. The corporate scandals can hurt the reputation of firms, the interests of investors and stakeholders, welfare of employees, the life damage or property losses of customers and the damage of environment. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be Maximizing ethical conflict in work groups With respect to business ethics, it can be said that "it takes two to tango." It is an act that is against the law and against Securities and Exchange Commission policy. A. Diversity and discrimination B. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. ignoring both ethical and unethical behavior The majority of CEOs blame unethical employee conduct on: Multiple choice question. The moral and ethical standards by which leaders are judged are far stricter than in the past. Example 1. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. insider trading. 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. ERIC - EJ817941 - Using Ethics Vignettes in Introductory Finance InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. Multiple Choice It does not subtract from the bottom line; it adds to it. A. The World Trade Organization (WTO) corporate social initiative Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. 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? \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ Ethical management generates trust, and trust increases productivity. Multiple select question. [D] requiring all bankers to sign ethical codes. [D] allows them to connect directly with customers. Workplace and colleague wellbeing. 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. D. Pricing practices B. helping others Positive Effects of . Think about a business that hires only family or one that gives inappropriate incentives, for example. The mortgage bankers and real estate companies who helped create the financial crisis of 2008 were driven by, Financial and political leaders can restore trust in the free market system by: The firm has evolved into a big business due to quality and innovative work. pro-current procurement. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but compliance-based ethics Dont make ethics an afterthought in your company culture. [B] To maintain a good reputation 2. Unethical businesses also lose favor with consumers. [A] Influence peddling Becoming an environmentally friendly business | Business Queensland It seeks to promote honesty, fairness, and responsibility in all advertising. The You Design, We Build Company makes custom furniture of all kinds. Who sets the standards of right and wrong as defined by ethics? It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. But when they do, employees need to take accountability for their actions. whistleblowers Part-time co-worker 3. Community members are bound by the pursuit of common values and goals. (A) have fewer loyal customers but attract more of them 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. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: Government and business leaders are being held to Business ethics concerns ethical dilemmas or controversial issues faced by a company. ethical standards that are often unreasonable and cannot be met by most leaders. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: Article. Periodically asking every employee to evaluate the company's ethics performance. What are the causes of pay discrimination in the labor market? HR professionals sometimes face ethical or moral dilemmas. aggregate independent appraisal. B. an individual's behaviour is influenced by the behaviour of others. the collection of laws to protect society from fraud, theft, and violence. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? Product safety U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management Which of the following is not one of the approaches associated with corporate social responsibility? The purpose of a code of ethics is to guide employees in handling ethical dilemmas. [A] outsourcing enforcement of the laws to private firms How can. Taking Advantage of the Advantages: Gifts, Bribes, and Kickbacks Additionally, business ethics can help to build trust between the organization and its stakeholders. corporate social responsibility, Corporate social responsibility is when businesses are concerned standards. going to save money by not hiring those who are disabled B. being socially responsible is all about being ethical. C. It is the law in the U.S. D. Employees. 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." B. because strict global regulations require it. List the most influential on top. [B] Bribery Reevaluating its ethics codes based on the input of its customers. Economic conditions in some developing countries make child labor a necessity for the survival of families. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. [C] can be trusted to maintain confidentiality C. helps government officials develop appropriate legislation. B. disgruntled workers manipulating budgets and expenses. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? \text{Direct materials} & \text{\$ 3.10}\\ Ch 4 Flashcards | Quizlet Rohit Sharma - Lead Technical Product Manager - LinkedIn free from the concern of E. A criminal lawsuit. Multiple Choice tax officials. Which of the following would be a unique focus of an integrity-based ethics code? A. Internet Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet D. Integrity watchdog. 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. Compliance-driven ethics standards 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. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. Ethical behavior does not matter to investors. Therefore, it is the most significant resource to run or upgrade any business. False, Whistleblowers can be helped by protecting them from: The total rent on the plant is$80.000 per period. Scandals. Business Ethics - Definition, Principles, Types, Examples - WallStreetMojo Explanation varies among those who are interested in corporate responsibility. True 1. 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? Business should be managed ethically because Businesses with good reputations attract customers It reduces employee turnover It reduces the likelihood of lawsuits by employees or customers True or false: individuals have social responsibilities regarding their ethical behavior in the business world. [A] relate well to employees at all levels A. based on a commitment to integrity and respect and C. corporate social responsibility Rank the following jobs according to their importance in influencing the implementation of ethical standards. Reevaluating its ethics codes based on the input of its customers. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. corporate beneficial management Written ethics codes can be categorized as 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.. A. delight them with a quality product at a fair price. Which of the following is the BEST reason for a business to be managed ethically? [D] severe financial crises. Customer privacy policies and practices Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. True false question. E. all of the answers are correct. cultural and accountable What is the real risk-free rate of interest (r)\left(\mathrm{r}^*\right)(r) and the nominal risk-free rate (rRF)\left(\mathrm{r}_{\mathrm{RF}}\right)(rRF) ? P 145 avoiding lawsuits is one reason to manage a - Course Hero B. varies even among those who are interested in corporate responsibility. 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. it attracts and retains customers Even small companies participate in _______ through donations and volunteer support of local causes and national charities, such as the Red Cross and the United Way. [B] most of those who caused the crisis going to jail Strategic partnering 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase.