a business should be managed ethically because a business should be managed ethically because

[D] businesses with good reputations attract customers. The first area is productivity. 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. When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and going to save money by not hiring those who are disabled Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that 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. Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet 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) ? They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. $A supervisor would have to be hired to oversee production of the starters. The majority of CEOs blame unethical employee conduct on: C. helps government officials develop appropriate legislation. retain better employees With regard to socially responsible behavior, American businesses are Managing Business Ethics - Ethical Systems 360-review. draw more customers, retain better employees Sherman Act Business Ethics - Definition, Principles, Types, Examples - WallStreetMojo 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. D. guideline. Ethics may seem like an intangible, but there is a clear connection to overall performance. punishing unethical behavior and rewarding ethical behavior privately [D] Political risk taking. E. law. Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? secondary market companies. For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. asking suppliers to lower their standards to be in compliance with The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. C. It is the law in the U.S. D. Employees. 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. Target is a business. 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. Its easier for a business to retain employees when they work for a company that they believe in. (D) affect hiring practices very little. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. penalizing wrong-doers, increasing control Which of the following statements about business ethics is false? Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. enjoy greater employee loyalty Cari Miller, MBA, CMP, FHCA - Sr. Principal - LinkedIn Compliance-based ethics codes varies among those who are interested in corporate responsibility. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. 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. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? retaliation D. buying the company's products. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. that only society's health is improved when they invest in companies whose goods and services benefit the community that they can improve their own financial health by investing in companies whose goods and services benefit the community ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. Businesses must abide by some basic principles. A. protecting the owners' rights and investments. The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. reaches broad and diverse groups C. all levels of management. Research into ethics and business performance has shown the two are linked in some important ways. Which of the following is the BEST reason for a business to be managed ethically? Multiple choice question. \text{Variable manufacturing overhead} & \text{0.60}\\ Chapter 4. The employment of ethical business practices can enhance overall corporate health in three important areas. (D) occur in only a few countries. statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility Full-time co-workers 3. There are a wide variety of examples of ethical behavior in the workplace. Which of the following statements is false? School McMaster University; Course Title COMMERCE 1E03; Type. C. a loss of employee commitment and trust in the company and its management. Customer privacy policies and practices \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ True false question. A. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. Multiple choice question. Society D. expanding the opportunity to behave ethically by providing punishments for following the rules. Multiple choice question. C. teamwork eliminates a need for personal ethics. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . With respect to business ethics, it can be said that "it takes two to tango." Explanation Managing data ethics | Deloitte Insights Corporate responsibility B. disgruntled workers manipulating budgets and expenses. firms should take added caution not to support government programs that protect the environment. allows them to connect directly with customers using recyclable packaging 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. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. Top management 4. 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. corporate responsibility Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. Emphasizes strong penalties for wrongdoers The second major meaning behind the term is . A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. <br> I . Supervisor 4. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: a clear set of rules and regulations P 145 avoiding lawsuits is one reason to manage a - Course Hero Value (ethics and social sciences) - Wikipedia E. A criminal lawsuit. B. helping others 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 can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. Explanation Multiple select question. Business Ethics - A Successful way of conducting business A. Internet TV ads B. personal responsibility C. compliance Multiple choice question. responsible management of human resources, responsible management of human resources. Ethical issues are limited to for-profit organizations. Your boss has prepared some questions for you to consider. By being ethical, leaders can foster an environment that rewards and encourages good attitudes. Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. [D] severe financial crises. An important reason for a company to maintain its ethical reputation is How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. [B] most of those who caused the crisis going to jail Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. The concern businesses have for the welfare of society, not just for their owners is: Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. [A] making the charges public before the investigation This is due to the fact that our ethics are shaped by our moral code. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. How are these two rates measured? Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? Thinking Ethically - Markkula Center for Applied Ethics Top management 1. compliance police. 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 reducing regulations about labeling A. you need to justify socially responsible behaviour from an investors standpoint only. Ethical behavior does not matter to investors. U.S. companies tend to overlook and forget human rights abuses abroad. 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. Dont make ethics an afterthought in your company culture. 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. C. Education and training B. It does not subtract from the bottom line; it adds to it. Top management must adopt and support a corporate code of conduct. B. the police in jurisdictions where the business has operations. A. the breakdown of traditional religious institutions. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. Multiple select question. On the line provided after the sentence, write the possessive form of the underlined words. Resource procurement and consumption practices B. ERIC - EJ817941 - Using Ethics Vignettes in Introductory Finance whistleblowers Socially conscious investors insist that a company extend its own high standards to its ____________________. 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. building parks The side effects are so great that the society urges that the business should always be ethically and socially responsible. 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. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility 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. Rank the following jobs according to their importance in influencing the implementation of ethical standards. If the verb is already correct, write C above it. Study 19 Terms | Philosophy Flashcards | Quizlet 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. Multiple choice question. (nervous). Who sets the standards of right and wrong as defined by ethics? cultural and accountable Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? [D] They may choose to cancel orders when there are environmental abuses. requiring suppliers to be evaluated monthly concerning D. varies from industry to industry. How Does 401(k) Matching Work for Employers? Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. Supervisor 2. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. Morality codes Explanation Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. Multiple Choice A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. Internal auditors A. Overstating an expense report. Shared accountability among employees. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. (C) benevolence is the highest virtue Chapter 4. Multiple choice question. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. compliance-based ethics [A] They will bribe local officials to change their policies. (A) likely to perform better financially D. Pricing practices Vanessa recognizes this as a(n) ________-based code of ethics. C. structure and strategy. Ethical Definition & Meaning - Merriam-Webster D. the nation's business schools that tolerate unethical behaviour in students. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. B. an individual's behavior is influenced by the behavior of others. Ethical behavior includes honesty, fairness, integrity and understanding. reaches broad and diverse groups All else held equal, socially responsible firms: A. are viewed more favourably by consumers. The firm has evolved into a big business due to quality and innovative work. ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. D. maximizing their investment in the firm. [D] To avoid lawsuits, Effective ethics officers: ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. [A] To attract customers Synonym Discussion of Ethical. 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. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. I'm a Product Manager with experience working cross-functionally with business roles (e.g. Ch 4 Flashcards | Quizlet Written ethics codes can be categorized as A business starts with the correct usage and allocation of finances and cost management. Why a Business Should be Managed Ethically? - The Business Guru 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 Full-time co-workers A business should be managed ethically for many C. to attract new customers and retain existing customers. Multiple select question. pro-current procurement. E. help restore confidence in Corporate America and Canada. ignoring both ethical and unethical behavior Multiple select questions. Multiple Choice 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. E. filing complaints with the company. whistleblowers social order ethics Strict global regulations require it. Explanation (A) have fewer loyal customers but attract more of them In turn, employees will trust that their leadership team is working toward the greater good of the entire company. [C] Paying U.S. minimum wage help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? (A) it prevents government audits 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. 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. Business principle (3) Flashcards | Quizlet 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. D. companies who are perceived as being socially responsible will ultimately earn more profits for their based on a commitment to integrity and respect C. Watch tower sentinel Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . Multiple select question. CSR can lead to even more profits. Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful;