___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. socially conscious research organizations. Multiple Choice Think about a business that hires only family or one that gives inappropriate incentives, for example. corporate raiders. Which of the following are examples of outside stakeholders that must be told about a company's ethics program? (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: How can. The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. compliance-based Unethical businesses also lose favor with consumers. C. Investor relations The concern businesses have for the welfare of society, not just for their owners is: penalizing wrong-doers. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. B. maintaining proper accounting procedures. D. short run profit maximization. Global Business Ethics. social justice. B. About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. reducing regulations about labeling Strategic partnering punishing unethical behavior and rewarding ethical behavior privately Motivation. corporate inclusion policy Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. This, then, creates greater stability within the company.. [C] it reduces the likelihood of lawsuits by employees or customers A high ethical standard extends to customers as well. C. teamwork eliminates a need for personal ethics. A. Whistleblower (B) going to save money by not hiring those who are disabled The best way to instill a culture of ethics among your employees is to lead by example and maintain a clear zero-tolerance policy on specific unethical behaviors, such as lying, cheating, stealing and fraud. Integrity-based ethics codes What Does Ethical Decision Making Mean? Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. It emphasizes sustainability, customer loyalty, brand image, and employee retention. 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. D. buying the company's products. Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. The moral and ethical standards by which leaders are judged are far stricter than in the past. The rent charge above is based on space utilized in the plant. A. the breakdown of traditional religious institutions. 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. By being ethical, leaders can foster an environment that rewards and encourages good attitudes. Example 1. Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. (D) long jail terms for those who acted unethically. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. global policy Safe working conditions Displaying good ethical behavior can boost company morale and client relations. [A] relate well to employees at all levels It is actually a structure of moral principles and code of conduct applicable to a business. Chapter 4 LearnSmart Quiz Flashcards | Quizlet A. delight them with a quality product at a fair price. $A supervisor would have to be hired to oversee production of the starters. (B) have higher turnover Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? 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? unethical This is an example of corporate: Explanation Ethics in the Workplace: Examples & Tips | PayScale Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. 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. Marketing, Finance, Sales), technical roles (e.g. Explanation D. management is insensitive to ethical issues. Multiple choice question. draw more customers, Many investors believe It is the right thing to do. (A) have fewer loyal customers but attract more of them Those who argue in favour of corporate social responsibility suggest that: 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. False, Whistleblowers can be helped by protecting them from: Explanation 1. (A) businesses who are socially responsible will earn more (C) gains for investors in 2008 and 2009 Corporate social responsibility describes the firm's: A. responsibility to their stockholders. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. 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. [C] only to compete and make a profit Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: 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. Business ethics benefits the bottom line. Explanation According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? Ethical behavior includes honesty, fairness, integrity and understanding. Organizational ethics begins Multiple Choice at the top levels of management. Corporate philanthropy [B] They may choose to cancel orders when there are human rights abuses. internal investigation. reaches broad and diverse groups Scandals. [B] passing laws to make accounting records more transparent help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". Multiple Choice Economic conditions in some developing countries make child labor a necessity for the survival of families. Determining what is involved for a firm to be socially responsible: A. is easy. Fraud B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and We covered: How data teams can actually design ethical ML models, after . Team and business confidence. A. To allow whistleblowers to come forward with information organizations should Multiple Choice Supervisor 2. In a business setting, ethical behavior applies to any employee, team lead or supervisor. E. A criminal lawsuit. Reevaluating its ethics codes based on the input of its customers. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. Ethical behavior does not matter to investors. 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. All successful businesses communicate effectively. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. The total rent on the plant is$80.000 per period. Multiple select questions. C. providing all relevant information about current and projected performance of the firm. She was even _____ after her solo than before. A. Overstating an expense report. An important reason for a company to maintain its ethical reputation is (B) are limited to the United States True Multiple Choice _____________________ _____________________ _____________________is a business's concern for the welfare of society. D. shift the production of goods to foreign facilities and layoff Canadian workers. (B) it attracts and retains customers Explanation B. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. 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: Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. it attracts and retains customers Decorating Arrangements has just completed operations for the year ended December 31, 2016. requiring suppliers to be evaluated monthly concerning Business ethics concerns ethical dilemmas or controversial issues faced by a company. 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. \text{ } & \text{Per Unit} & \text{Total}\\ The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. Its premise is based on integrity, fairness, and respect for others. A. To manage these risks and the ethical obligations they imply, CDOs should work on developing institutional practices for continual learning and interaction with external experts. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. Which of the following should help reduce the incidence of unethical behavior in an organization? ethical officers Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. C. practice deception regarding product safety issues. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? Morality codes <br> I believe AI should be built responsibly and produce ethical outcomes. Chapter 4. Product safety the collection of laws to protect society from fraud, theft, and violence. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? socially conscious research organizations. stockholders Vanessa recognizes this as a(n) ________-based code of ethics. Business ethics isnt always exalted in every workplace, but its critically important when it comes to providing customers with quality service, adhering to regulatory compliance standards, and avoiding steep fines and lawsuits. The majority of CEOs blame unethical employee conduct on: B. an individual's behavior is influenced by the behavior of others. The international Day Of Pe, Chapter 3 Doing Business in a Global Markets, 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, Spring 2018 Final Exam Review Chapters 8,9,10. 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. 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. providing safety equipment and training for their workers, 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: How to Get a Bank Loan for Your Small Business, How to Conduct a Market Analysis for Your Business, Guide to Developing a Training Program for New Employees. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. B. because strict global regulations require it. [A] making the charges public before the investigation InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. B. Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. Is it acceptable if everyone else is doing it? Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. During the last recession monetary contributions decreased and companies found ways to continue their philanthropic participation by asking employees to donate time to corporate social initiatives and other projects. \text{Variable manufacturing overhead} & \text{0.60}\\ B. improve corporate profits. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ It's the age-old reality: "Out-of-sight, out-of-mind." The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. lose sales revenues Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. aggregate independent appraisal. opportunity influence ethical behavior When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. In the workplace, there might be a standard for ethics set throughout the company. B. enjoy significantly higher profits. It could also mention specific protocol within the business. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. 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. Which of the following is the BEST reason for a business to be managed ethically? D. companies who are perceived as being socially responsible will ultimately earn more profits for their How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. penalizing wrong-doers, increasing control social initiatives (D) occur in only a few countries. (A) are just part of doing business Top management (C) likely to perform worse financially Companies that participate in CSR typically have more loyal employees and customers. The main principles of business ethics are based in academia and on academic writings on proper business operations. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. Why Should Businesses Act Ethically? - Business Ethics and Corporate likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." Multiple Choice 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. corporate policy Businesses should be managed ethically because it is the right thing to do, it is legal and keeps the government from writing new laws, it is good for employee turnover, maintains a good reputation, keeps customers and attracts new ones, pleases employees and society Compliance based ethics code Dont make ethics an afterthought in your company culture. Reevaluating its ethics codes based on the input of its customers. As a philosophy, ethics are the principles that guide a person's behaviour. Top management is essentially conducting a(n) The last recession changed the way many companies offer support to people and communities in need. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management Multiple choice question. 8 Current Ethical Issues in Business (and How to Manage Them) 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. America's CEOs Seek a New Purpose for the Corporation A. Which of the following would least likely involve ethical concerns? A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. higher ethical standards than in the past. insider trading. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Studies have found a _____ correlation between academic dishonesty and dishonesty at work. B. being socially responsible is all about being ethical. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? [D] To avoid lawsuits, Effective ethics officers: A. CSR can lead to even more profits. B. focus on cost and quality control systems within your organization. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: Multiple choice question. technical policy Multiple choice question. C. often experience customer loyalty problems. \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ 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. allows them to reach specific groups more directly, allows them to connect directly with customers 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. retain better employees E. All of the answers are correct. Multiple choice question. Maximizing ethical conflict in work groups An ethically managed business helps to reduce employee turnover. Packaging requirements increased financial donations to local areas but pulled away from national and global contributions. corporate social initiative allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: (A) likely to perform better financially Multiple choice question. How does the action I am proposing to take make me feel about myself? B. varies even among those who are interested in corporate responsibility. This is due to the fact that our ethics are shaped by our moral code. When management considers ethics in its actions toward stakeholders, employees can be positively affected. A business should be managed ethically because Multiple select question. D. Deceptive advertising of food products E. All of the answers are correct, As a new employee, Vanessa has heard her boss say, "Do whatever it takes to meet your sales quota. D. Integrity watchdog. Top management 4. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. An organization's managers instill corporate values and _____________ in employees by the examples they set. Part-time co-worker 3. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc.
