a business should be managed ethically because

(C) likely to perform worse financially Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. acquisition stalking. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. Top leaders from other countries have been charged with bribery. whistleblowers Periodically asking every employee to evaluate the company's ethics performance. (B) make employers reluctant to hire those who have cheated For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. Why Is Ethical Decision Making Important? - Lisa Jeffs What does the research into business ethics say? Another reason why business ethics is important is that it can improve profitability. not concerned with the ethical or socially responsible behavior of their international suppliers. An important factor in enforcing an ethics code is: reducing regulations about labeling An ethically managed business helps to reduce employee turnover. A. you need to justify socially responsible behaviour from an investors standpoint only. 360-review. Multiple select question. [B] allowing management to decide the outcomes of investigations allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: an individual's ethics integrity-based ethics Organizational ethics begins Multiple Choice at the top levels of management. Resource procurement and consumption practices It could also mention specific protocol within the business. 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. A business starts with the correct usage and allocation of finances and cost management. Part-time co-worker 3. C. structure and strategy. (C) benevolence is the highest virtue Business ethics benefits the bottom line. varies among those who are interested in corporate responsibility. Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. Businesses should create and display their code of ethics publicly. Multiple choice question. firms should take added caution not to support government programs that protect the environment. separating themselves from suppliers who violate. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ A set of formalized rules and standards that describe what a company expects of its employees is called a(n) \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Multiple choice question. The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. D. management is insensitive to ethical issues. Explanation What are the causes of pay discrimination in the labor market? Multiple choice question. cultural and accountable DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . Ethical Behavior Is Essential to Business - Business News Daily America's CEOs Seek a New Purpose for the Corporation In ethics and social sciences, value denotes the degree of importance of some thing or action, with the aim of determining which actions are best to do or what way is best to live (normative ethics in ethics), or to describe the significance of different actions.Value systems are prospective and prescriptive beliefs; they affect the ethical behavior of a person or are the basis of their . Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. [B] it increases the likelihood of government intervention The concern businesses have for the welfare of society, not just for their owners is: B. [C] To increase employee turnover It does not subtract from the bottom line; it adds to it. (C) occur in many countries China is a communist country. Cari Miller, MBA, CMP, FHCA - Sr. Principal - LinkedIn Defines an organization's guiding principles. C. providing all relevant information about current and projected performance of the firm. Vanessa recognizes this as a(n) ________-based code of ethics. A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. 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. (C) attract and retain better employees (C) to increase employee turnover This includes managers and subordinates, peers and clients. The World Trade Organization (WTO) When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. Business principle (3) Flashcards | Quizlet 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. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. 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. reduced employee turnover. social audit. Multiple choice question. They define crimes more narrowly than do ethics protect from fraud, theft, and violence, while are used to decide how we treat others responsibly to society's views of right and wrong Ethically Behaving often requires more than obeying the law. it makes financial as well as moral sense to invest in companies that plan to create a better environment, Companies that try to act in a socially responsible way are likely to focus on such activities as 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 . Research into ethics and business performance has shown the two are linked in some important ways. Ethics may seem like an intangible, but there is a clear connection to overall performance. Chapter 4 - Homework ( Introduction To Business) - Quizlet Which of the following is a reason why a business should be managed Periodically asking every employee to evaluate the company's ethics performance. (A) 3 out of 4 citizens do not give any time to the communities in which they live Business ethics concerns ethical dilemmas or controversial issues faced by a company. True false question. 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. 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. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. the collection of laws to protect society from fraud, theft, and violence. Fraud 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} HR Ethical Dilemmas - SHRM A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. A. Diversity and discrimination B. penalizing wrong-doers. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. Businesses can show their CSR in many ways. 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. Ethical standards are different from country to country. the federal government [C] The U.S. government will use military force to enforce labor laws.. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. The side effects are so great that the society urges that the business should always be ethically and socially responsible. Which of the following represent examples of how corporations set positive standards of ethical behavior? True false question. C. teamwork eliminates a need for personal ethics. Business ethics helps to optimize company resources. corporate inclusion policy Strict global regulations require it. Shared accountability among employees. Ethical behavior can have negative consequences to the bottom line in the long run. Trust and cooperation between workers and managers must be based on which of the following? Multiple Choice socialism moral impropriety. 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. If an underlined word is already in the correct possessive form, write a C on the line. (A) are just part of doing business 2. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Displaying good ethical behavior can boost company morale and client relations. HR professionals sometimes face ethical or moral dilemmas. In the following sentence, circle the subject of the underlined verb. A. protecting the owners' rights and investments. Multiple select question. [B] They may choose to cancel orders when there are human rights abuses. Whistleblowers are insiders who report illegal or unethical behavior. C. Increased penalties for code violators. Explanation Studies have found a _____ correlation between academic dishonesty and dishonesty at work. Explanation Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. Decorating Arrangements has just completed operations for the year ended December 31, 2016. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? Top management must adopt and support a corporate code of conduct. 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. True false question. Explanation [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is school districts Intro. business chapter 5 Flashcards | Quizlet building parks [C] Paying U.S. minimum wage Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. This is called a bounty provision because as stated, they may receive a monetary award for their actions. In the long run, they believe 051-Methods for Designing Ethical, Human-Centered AI with Undock Head The first area is productivity. whistleblowers. B. maintaining proper accounting procedures. Explanation requiring suppliers to be evaluated monthly concerning reaches broad and diverse groups \end{matrix} Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management that they can improve their own financial health by investing in companies whose goods and services benefit the community Multiple Choice of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition 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. Becoming an environmentally friendly business | Business Queensland 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. ___________ __________ ______________is a business's concern for the welfare of society. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and In fact they contribute to it: 1. A. 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 Deceptive advertising of medicines and toys Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. Multiple Choice (D) affect hiring practices very little. Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; corporate policy Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Business Ethics - A Successful way of conducting business Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. (nervous). A. the breakdown of traditional religious institutions. Then, of course, there are the more serious consequences of highly unethical behavior. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. B. Complete each sentence with the comparative or superlative form of the modifier in parentheses. Supervisor Why You Need to Create a Fantastic Workplace Culture, 10 Employee Recruitment Strategies for Success, Best Accounting Software and Invoice Generators of 2023, Best Call Centers and Answering Services for Businesses for 2023. In the workplace, there might be a standard for ethics set throughout the company. D. stockholders. (B) going to save money by not hiring those who are disabled whistleblowers about being fair and honest with their stakeholders an individuals behavior is influenced by the behavior of others. To attract customers To avoid lawsuits To maintain a good reputation Making decisions that we know are different from what is right erodes our self-esteem. Chapter 4 LearnSmart Quiz Flashcards | Quizlet Part-time co-workers. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are leaving unethical behavior unpunished An important factor in enforcing ethics codes is selecting a(n) ________ ________. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. B. expressing dissatisfaction by protesting. technical policy using recyclable packaging A well-implemented ethics program can also reduce losses. Multiple choice question. The employees of a corporation are stakeholders who are affected by management practices. internal search and occupy organizations. With over 20 years of consulting experience across various industries throughout Australia and abroad, I am known for my ability to develop and turn creative strategies into efficient execution and excellent . D. Pricing practices Which of the following should help reduce the incidence of unethical behavior in an organization? Which of the following statements about business ethics is false? When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. They should display behavior that is honest and fair in their relationships with co-workers and their. A New Model for Ethical Leadership - Harvard Business Review Compliance-based ethics codes focus on: Managing data ethics | Deloitte Insights D. employee retaliation by doing the minimum needed to get by. Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. Business Ethics: Definition, Principles, Why They're Important Safe working conditions (B) are limited to the United States B. philanthropy A high ethical standard extends to customers as well. C. Research practices Which of the following are true regarding ethical behavior? The findings reveal that quality service and an ethical business plan are essential to long-term business success. capitalism is costly, but worthwhile in reaching specific customers general guiding values ", Corporate social responsibility is when businesses are concerned (C) 4 out 5 citizens volunteer an hour each week Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. Study 19 Terms | Philosophy Flashcards | Quizlet 8 Mini-Case Study, Intro-Into-Business: Ch. whistleblowers. 22. C. helps government officials develop appropriate legislation. Compliance-based ethics codes An ethical business will get your employees to respect your company . Chapter 4. C. energy consumption Which of the following are reasons a business should be managed ethically? The total rent on the plant is$80.000 per period. Socially conscious investors insist that a company extend its own high standards to its ____________________. A. 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. Top management is essentially conducting a(n) 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. Corporate responsibility True Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. Here are five reasons why you should keep things legal and follow business ethics in accounting. Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. B. enjoy significantly higher profits. Multiple choice question. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. These actions are To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. Explanation _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Resource procurement and consumption practices B. D. help investors recoup their losses. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. 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] conducting objective investigations E. filing complaints with the company. Often, business ethics involve a system of practices and procedures that help build trust with the. Multiple choice question. 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. Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. 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. 1. 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. the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. . Though there are many ethical opinions that most people share, ethics will differ from person to person. CSR can lead to even more profits. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is Positive Effects of . [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. B. disgruntled workers manipulating budgets and expenses. formal and informal. ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Ethical behavior positively impacts a businesss financial performance. draw more customers, retain better employees Which of the following would be a unique focus of an integrity-based ethics code? 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. compliance-based ethics With regard to socially responsible behavior, American businesses are protect them from retaliation Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet This is an example of corporate: When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. Ethical behavior does not matter to investors. Community members are bound by the pursuit of common values and goals. Ethics can be rooted in belief or the pursuit of making the world better. E. Employee benefit programs. D. concern for the welfare of society. Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. The companys vision, values and mission should be clearly stated and visible to both employees and clients so that the company can be held to those standards. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Governments (A) investors putting more money into both markets The deliberative system leads to more-ethical behaviors. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. Multiple Choice An organization's managers instill corporate values and _____________ in employees by the examples they set. Distributors. Full-time co-workers 3. insider trading. corporate raiders. Why Should Businesses Act Ethically? - Business Ethics and Corporate Startup Costs: How Much Cash Will You Need? Multiple choice question. On the line provided after the sentence, write the possessive form of the underlined words. A business should be managed ethically for many. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be An important reason for a company to maintain its ethical reputation is C. Research practices likely to perform better financially Its premise is based on integrity, fairness, and respect for others. D. buying the company's products. Team and business confidence. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. A. responsibility Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: How does the action I am proposing to take make me feel about myself? (B) have higher turnover (B) it attracts and retains customers corporate social initiative [A] making the charges public before the investigation 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. increasing control Think about a business that hires only family or one that gives inappropriate incentives, for example. On the flip side, a leader who personifies ethical behavior will be fair in all situations. Ethical Marketing - Marketing Schools employees and internal public relations vigilantes. Written ethics codes can be categorized as retain better employees That person called five of his relatives and several friends. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. This indicates that: A. dancing around issues should be part of a firm's code of ethics. What Does Ethical Decision Making Mean? 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. C. help laid-off employees get their jobs back. About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work.

Terence Mckenna Wife, Articles A