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. Ethical management generates trust, and trust increases productivity. [A] few losses to investors Distributors. Everyone with whom the business has dealings. Employees and management alike can work together to create businesses that have high standards. Dodd-Frank Wall Street Reform and Consumer Protection Act. 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. 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 . can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. This is the third year of operations for the company. Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? C. Education and training A. Multiple Choice B. being socially responsible is all about being ethical. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. unethical Financial transparency [C] Paying U.S. minimum wage The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. 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. free from the concern of List the most influential on top. 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. 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. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. Multiple choice question. (B) it is using investors' money in ways they did not intend The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. Supervisor 4. leaving unethical behavior unpunished It seeks to promote honesty, fairness, and responsibility in all advertising. TV ads Explanation Explanation firms should take added caution not to support government programs that protect the environment. In "Two Kinds," how does the narrator feel after the talent show? the federal government Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. corporate social initiative Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Backend and front-end engineers, data scientists) as well as designers and UX researchers to bring products to life that make our users' problems and pain-points go away!<br><br>As a product manager I have to wear different hats every day and I excel at . Fraud Companies that participate in CSR typically have more loyal employees and customers. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. B. an individual's behaviour is influenced by the behaviour of others. an individuals behavior is influenced by the behavior of others. Multiple choice question. (D) occur in only a few countries. Think about a business that hires only family or one that gives inappropriate incentives, for example. (A) have fewer loyal customers but attract more of them ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. Multiple choice question. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. likely to perform better financially In the workplace, there might be a standard for ethics set throughout the company. One strategy guaranteed to displease your customers is to: Scandals. not concerned with the ethical or socially responsible behavior of their international suppliers. Jake knew that several other employees followed strict company policy every day and always wore their headgear; yet, they were not being acknowledged for their compliance. internal search and occupy organizations. Ignoring hazardous job conditions that exist in the company's facilities 22. separating themselves from suppliers who violate. Business ethics benefits the bottom line. E. law. [D] severe financial crises. 'Business Ethics' can be termed as a study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. A. Sherman Act An organization's managers instill corporate values and _____________ in employees by the examples they set. 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. create an open-door policy, protect them from retaliation Which of the following is not one of the approaches associated with corporate social responsibility? Packaging requirements Businesses can show their CSR in many ways. Unethical behavior by financial and real estate businesses has led to 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. C. often experience customer loyalty problems. Management ethics can factor into issues including coworker interactions, conflicts of interest, customer safety, honest advertising, customer information security and the responsible use of corporate resources. \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ C. writing their representatives in Congress. D. Outsourcing practices B. enjoy significantly higher profits. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. B. philanthropy. (A) investors putting more money into both markets ___________ __________ ______________is a business's concern for the welfare of society. (D) affect hiring practices very little. First and foremost, father of 5 and grandfather to 3.<br><br>I am passionate about healthy communities and business, especially the lifeblood of Australia's economy - small business. businesses with good reputations attract customers it reduces the likelihood of lawsuits by employees or customers it reduces employee turnover it increases the likelihood of government intervention businesses with good reputations attract customers 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. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. The findings reveal that quality service and an ethical business plan are essential to long-term business success. The concern businesses have for the welfare of society, not just for their owners is: Typically, it is the kind of information where parties in the know can benefit. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. social policy When there is a base level of respect established, people take criticism less personally, are able to communicate more openly, and can see and value the other persons perspective. reaches broad and diverse groups There are a wide variety of examples of ethical behavior in the workplace. Multiple Choice Strategic partnering punishing unethical behavior and rewarding ethical behavior privately tax officials. whistleblowers 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 A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. 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. Chapter 4. \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ Managing Business Ethics takes the view that ethical and unethical conduct are primarily the product of how systems align within an organization to promote certain kinds of behavior. [C] The U.S. government will use military force to enforce labor laws.. (A) matter very little to employers Which of the following should help reduce the incidence of unethical behavior in an organization? The corporate scandals can hurt the reputation of firms, the interests of investors and stakeholders, welfare of employees, the life damage or property losses of customers and the damage of environment. E. help restore confidence in Corporate America and Canada. Compliance-based ethics codes Multiple select question. It does not subtract from the bottom line; it adds to it. All successful businesses communicate effectively. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. Notes. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? Top management 1. formal and informal. 8 Mini-Case Study, Intro-Into-Business: Ch. It is actually a structure of moral principles and code of conduct applicable to a business. <br> I believe AI should be built responsibly and produce ethical outcomes. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. Startup Costs: How Much Cash Will You Need? In the long run, CSR enhances profits. \text{Total production cost} & \text{\$ 9.20}\\ (A) are just part of doing business 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. allows them to reach specific groups more directly. Marketing, Finance, Sales), technical roles (e.g. Resource procurement and consumption practices B. Increased control over employee actions. When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. The employees of a corporation are stakeholders who are affected by management practices. Giving back to society This includes managers and subordinates, peers and clients. False. [C] allows them to reach specific groups more directly Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. Part-time co-worker 3. C. to attract new customers and retain existing customers. enjoy greater employee loyalty If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: What motivated the unethical behavior of real estate agents, lenders, and borrowers that led to the financial crisis of 2008? fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. lower ethical standards than in the past. Multinational corporations are committed to operating within the legal limits of U.S. law. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. What Does Ethical Decision Making Mean? Corporate philanthropy A set of formalized rules and standards that describe what a company expects of its employees is called a(n) And could be pivotal for career growth. It is a set of guidelines for dealing with various procedures ethically. corporate responsibility C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. D. short run profit maximization. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? Multiple Choice Product safety Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is A. protecting the owners' rights and investments. A. reduced employee turnover. Top management 4. compliance-based ethics Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. Multiple Choice The main principles of business ethics are based in academia and on academic writings on proper business operations. Though discrimination and harassment laws have been put in place and continue to be updated . B. maintaining proper accounting procedures. Corporate social responsibility is based on a B 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. This indicates that: A. dancing around issues should be part of a firm's code of ethics. B. 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.. Those who argue in favour of corporate social responsibility suggest that: Multiple Choice Putting Ethical Design into Practice. Multiple Choice C. the increase in lawsuits used to avoid personal responsibility. Which step is the most critical to help improve business ethics? True false question. Part-time co-workers. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. When Paulsen describes Storm, he also gives clues about his own personality. 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. socially conscious research organizations. Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. Multiple choice question. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. With respect to business ethics, it can be said that "it takes two to tango." A. code of ethics. 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. (D) long jail terms for those who acted unethically. (B) make employers reluctant to hire those who have cheated In turn, employees will trust that their leadership team is working toward the greater good of the entire company. The second major meaning behind the term is . 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. Is it acceptable if everyone else is doing it? Synonym Discussion of Ethical. Supports ethically sound behavior opportunity influence ethical behavior The moral and ethical standards by which leaders are judged are far stricter than in the past. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: Complete each sentence with the comparative or superlative form of the modifier in parentheses. [A] outsourcing enforcement of the laws to private firms Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. [B] To maintain a good reputation Multiple select questions. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. A business should be managed ethically because Multiple select question. going to save money by not hiring those who are disabled decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. . Written ethics codes can be categorized as 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. 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) ? Multiple select question. C. energy consumption (C) occur in many countries 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. C. teamwork eliminates a need for personal ethics. An environmentally friendly business: operates in a sustainable manner, causing minimal damage to the environment and using renewable resources where possible considers where its supplies come from and how they are madeit will work with environmentally responsible suppliers and source materials locally to reduce its carbon footprint Are Workplace Politics Destroying Your Business? Multiple choice question. It does not subtract from the bottom line; it adds to it. C. An ethics office must be set up. Explanation $A supervisor would have to be hired to oversee production of the starters. But when they do, employees need to take accountability for their actions. These define the company's guiding values, and most often it involves shared accountability. The mortgage bankers and real estate companies who helped create the financial crisis of 2008 were driven by, Financial and political leaders can restore trust in the free market system by: A. expanding the opportunity to behave ethically by providing rewards for following the rules. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . Corporate policy refers to the position a firm takes on ______________ and __________________ issues. [D] They may choose to cancel orders when there are environmental abuses. Which of the following are reasons a business should be managed ethically? C. Research practices This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community.