Explanation Multiple select question. How Does 401(k) Matching Work for Employers? Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . A. responsibility 1. (A) are just part of doing business C. a loss of employee commitment and trust in the company and its management. Unethical businesses also lose favor with consumers. On the flip side, a leader who personifies ethical behavior will be fair in all situations. Product safety Multiple choice question. only with their responsibility to their shareholders 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 The rent charge above is based on space utilized in the plant. Amber was observing an example of the ___________ followed at this organization. Demanding Ethical and Socially Res, Intro-Into-Business: Ch. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Multiple Choice Ethical Behavior Is Essential to Business - Business News Daily B. the police in jurisdictions where the business has operations. socially conscious research organizations. \text{Variable manufacturing overhead} & \text{0.60}\\ A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. Corporate responsibility leaving unethical behavior unpunished True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. $A supervisor would have to be hired to oversee production of the starters. an individuals behavior is influenced by the behavior of others. The first area is productivity. Which of the following is not one of the approaches associated with corporate social responsibility? decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. P 145 avoiding lawsuits is one reason to manage a - Course Hero Which of the following statements reflects the difficulty companies face when requiring international suppliers to follow environmental and human rights standards set by U.S. firms? allow for complete anonymity The main principles of business ethics are based in academia and on academic writings on proper business operations. Maximizing ethical conflict in work groups Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Why Business Should Be Managed Ethically - Liveboardroom.info Ethical management generates trust, and trust increases productivity. 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. Stresses shared accountability Which of the following statements about business ethics is false? B. philanthropy D. companies who are perceived as being socially responsible will ultimately earn more profits for their corporate beneficial management B. varies even among those who are interested in corporate responsibility. Explanation Multinational corporations are committed to operating within the legal limits of U.S. law. D. management is insensitive to ethical issues. Studies have found a _____ correlation between academic dishonesty and dishonesty at work. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? True fascism Vanessa recognizes this as a(n) ________-based code of ethics. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. an individual's ethics Here are five reasons why you should keep things legal and follow business ethics in accounting. Multiple choice question. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. Are Workplace Politics Destroying Your Business? Chapter 4 - Business Flashcards | Quizlet 22. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. the federal government With regard to socially responsible behavior, American businesses are Multiple select question. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Compliance-based ethics codes focus on: Why Should Businesses Act Ethically? - Business Ethics and Corporate demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Multiple choice question. Ethics in the workplace: the ethical manager | HRZone Explanation B. 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. draw more customers, retain better employees How can. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. In a business setting, ethical behavior applies to any employee, team lead or supervisor. profitable charities A set of formalized rules and standards that describe what a company expects of its employees is called a(n) At a college, a code of ethics could include being honest and unbiased when grading and being a catalyst for diverse perspectives in the classroom. retaliation C. Watch tower sentinel This is the third year of operations for the company. (B) 3 out of 4 citizens think they should be paid for their volunteer work ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Ethical Definition & Meaning - Merriam-Webster Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet C. energy consumption ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. because strict global regulations require it, learned by observing the actions of others in the organization. 8 Mini-Case Study, Intro-Into-Business: Ch. _____________________ _____________________ _____________________is a business's concern for the welfare of society. B. opportunity. Top management is essentially conducting a(n) Chapter 4. A business's responsibilities to its owners and investors include An important reason for a company to maintain its ethical reputation is List the most influential on top. 1. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Shared accountability among employees. B. B. clarifying what green means tax officials. Determining what is involved for a firm to be socially responsible: A. is easy. Practice deception regarding product safety issues. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. ethical officers Depreciation is due to obsolescence rather then wear and tear. Complete each sentence with the comparative or superlative form of the modifier in parentheses. ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. cultural and accountable A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. A. reduced employee turnover. (B) are limited to the United States The purpose of a code of ethics is to guide employees in handling ethical dilemmas. Explanation 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? using recyclable packaging This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. human resource support staff \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ Both positive and negative activities are measured. Which of the following are reasons a business should be managed ethically? 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. In the long run, they believe [A] They will bribe local officials to change their policies. Multiple choice question. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. It's the age-old reality: "Out-of-sight, out-of-mind." Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. Business Ethics - Overview, Examples, Components of Business Ethics When Paulsen describes Storm, he also gives clues about his own personality. Another reason why business ethics is important is that it can improve profitability. The total rent on the plant is$80.000 per period. D. Integrity watchdog. What are the causes of pay discrimination in the labor market? D. Outsourcing practices In one such study, led by Kaifeng Jiang, a professor at the Ohio State University Fisher College of Business, researchers examined the intersection between the quality of service a business offers and its adherence to ethical mores by looking into conditions at nearly 200 movie theaters. [B] share all information with managers when requested China is a communist country. Though there are many ethical opinions that most people share, ethics will differ from person to person. Multiple Choice Community members are bound by the pursuit of common values and goals. D. varies from industry to industry. Multiple Choice TRUE There are many reasons why a business should be managed ethically : ( 1 ) to maintain a good reputation , ( 2 ) to keep existing customers , ( 3 ) to attract new customers , ( 4 ) to avoid lawsuits , ( 5 ) to reduce turnover , ( 6 ) to avoid government intervention , ( 7 ) to please customers , employees , and society , and ( 8 ) because it is the right thing to do . B Your boss has prepared some questions for you to consider. These actions are (C) 4 out 5 citizens volunteer an hour each week A. Internet A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? Full-time co-workers 3. Ethical behavior does not matter to investors. Supervisor 2. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. Financial transparency Which of the following are reasons a business should be managed [B] allowing management to decide the outcomes of investigations Unethical behavior by financial and real estate businesses has led to \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ corporate social initiative In turn, employees will trust that their leadership team is working toward the greater good of the entire company. 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. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? Positive Effects of . ethical standards that are often unreasonable and cannot be met by most leaders. The findings reveal that quality service and an ethical business plan are essential to long-term business success. Business Ethics - A Successful way of conducting business Business Ethics - Definition, Principles, Types, Examples - WallStreetMojo (A) likely to perform better financially 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. Businesses should create and display their code of ethics publicly. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. \text{Direct labor} & \text{2.70}\\ 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. The amount of pollutants a firm unleashes into the environment would serve as an example of a negative activity that would be included in the social audit measurements. [D] Political risk taking. Business ethics helps to optimize company resources. A Understanding that individual moral standards, the influence of managers and coworkers, and D. the nation's business schools that tolerate unethical behaviour in students. They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. (A) investors putting more money into both markets It is a set of guidelines for dealing with various procedures ethically. HR professionals sometimes face ethical or moral dilemmas. Multiple select question. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. B. ability to plan for the unexpected. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. It does not subtract from the bottom line; it adds to it. that only society's health is improved when they invest in companies whose goods and services benefit the community There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Ethical behavior positively impacts a businesss financial performance. How Managers Can Encourage Ethical Behavior | Principles of Management 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. Top management must adopt and support a corporate code of conduct. The firm has evolved into a big business due to quality and innovative work. responsible management of human resources, responsible management of human resources. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? The motives of those involved in unethical behavior that caused the financial crisis in the real estate, banking, and mortgage industries included: Who sets the standards of right and wrong as defined by ethics? Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. B. C. diversity Defines an organization's guiding principles. B. focus on cost and quality control systems within your organization. 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. Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. customers corporate responsibility going to save money by not hiring those who are disabled (C) likely to perform worse financially Which of the following is a reason why a business should be managed ethically? Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be [A] Influence peddling An ethical business will get your employees to respect your company . reaches broad and diverse groups E. A criminal lawsuit. Part-time co-workers. Compliance-based ethics codes Packaging requirements Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. A. D. integrity. C. all levels of management. Becoming an environmentally friendly business | Business Queensland Business Should Always Be Ethically and Socially Responsible Multiple choice question. Emphasizes strong penalties for wrongdoers They should display behavior that is honest and fair in their relationships with co-workers and their clients. Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. Ethical problems such as influence peddling and bribery: 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. Socially conscious investors insist that a company extend its own high standards to its ____________________. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. J. M. D'Aquila, D. F. Bean, and E. G. Procario- Foley (2004) reported that 97% of business leaders perceive American businesses as ethical, versus 24.5% of students. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. A. the breakdown of traditional religious institutions. increasing control (D) going to lose money by providing pay raises, A business should be managed ethically because D. Mayhem 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. Multiple choice question. Integrity-based ethics codes pro-current procurement. school districts plan to maximize profits for shareholders to spend in communities Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. A. (B) it is using investors' money in ways they did not intend Multiple Choice Multiple choice question. likely to perform better financially (D) affect hiring practices very little. 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. Multiple choice question. [B] They may choose to cancel orders when there are human rights abuses. (B) have higher turnover These principles govern every aspect of the company's operations, including its interaction with the government and other businesses, its treatment of its employees and its relationship with its customers. It could also mention specific protocol within the business. Multiple Choice Which of the following represent examples of how corporations set positive standards of ethical behavior? Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. In addition to researching trends, reviewing products and writing articles that help small business owners, Sean runs a content marketing agency that creates high-quality editorial content for both B2B and B2C businesses. Tejas Vemparala also contributed to this article. D. stockholders. List the most influential on top. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. True B. improve corporate profits. standards. Which of the following would least likely involve ethical concerns? (C) gains for investors in 2008 and 2009 Implementing ethical standards within an organization starts with: An employee who reported her boss to the SEC for insider trading would be considered a(n) _____________ protected by law. Reevaluating its ethics codes based on the input of its customers. Multiple Choice InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. Which of the following is the BEST reason for a business to be managed ethically? Strict global regulations require it. Maria Juarez is a professional tennis player, and your firm manages her money. Decorating Arrangements has just completed operations for the year ended December 31, 2016. only to compete and make a profit . 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: 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 government-supported direct mail campaigns corporate raiders. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. providing safety equipment and training for their workers, increasing the diversity of their workforce Multiple Choice C. teamwork eliminates a need for personal ethics. Source interviews were conducted for a previous version of this article. [A] To attract customers The side effects are so great that the society urges that the business should always be ethically and socially responsible. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. Synonym Discussion of Ethical. 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.. insider trading. requiring suppliers to be evaluated monthly concerning Giving back to society Workplace and colleague wellbeing. 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. It may just be the cornerstone of your success. Multiple select question. Fraud Multiple select question. Which of the following statements is false? it reduces laws and regulations 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.