for the welfare of society as a whole, about being fair and honest with their stakeholders The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. A. [D] Political risk taking. Emphasizes strong penalties for wrongdoers When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. [C] Paying U.S. minimum wage What is the best reason for a business to be managed ethically? (B) 3 out of 4 citizens think they should be paid for their volunteer work C. Investor relations Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? D. guideline. 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. True HR professionals sometimes face ethical or moral dilemmas. Strategic partnering B. [B] most of those who caused the crisis going to jail Multiple choice question. D. Integrity watchdog. corporate social initiative 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 Personal projects Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. This is due to the fact that our ethics are shaped by our moral code. Employees and management alike can work together to create businesses that have high standards. 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 (A) likely to perform better financially that they can improve their own financial health by investing in companies whose goods and services benefit the community [A] outsourcing enforcement of the laws to private firms Here are five reasons why you should keep things legal and follow business ethics in accounting. Codes of ethics foster ethical behavior by promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: 'Business' can mean an activity of exchange. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Business Ethics - A Successful way of conducting business (C) gains for investors in 2008 and 2009 Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. An important factor in enforcing ethics codes is selecting a(n) ________ ________. Strict global regulations require it. 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. True An important reason for a company to maintain its ethical reputation is D. varies from industry to industry. C. Research practices A. 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 D. employee retaliation by doing the minimum needed to get by. reducing most costs information technology Compliance-driven ethics standards B. being socially responsible is all about being ethical. corporate raiders. A Understanding that individual moral standards, the influence of managers and coworkers, and What Does Ethical Decision Making Mean? Customer privacy policies and practices D. stockholders. concern for the welfare of society global policy Managing Business Ethics - Ethical Systems Explanation Multiple select question. Packaging requirements likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." Ethical issues are limited to for-profit organizations. She has asked you to give her information about what determines the level of various interest rates. higher ethical standards than in the past. What are the causes of pay discrimination in the labor market? Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. Morality codes False, Whistleblowers can be helped by protecting them from: Business Should Always Be Ethically and Socially Responsible One employee whose name was at the top of everybody's list was instrumental in helping another employee who failed to wear his protective headgear to avoid suffering a serious head injury. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? opportunity influence ethical behavior A. responsibility By being ethical, leaders can foster an environment that rewards and encourages good attitudes. B. How Managers Can Encourage Ethical Behavior | Principles of Management Maximizing ethical conflict in work groups A high ethical standard extends to customers as well. penalizing wrong-doers, increasing control punishing unethical behavior and rewarding ethical behavior privately 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. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Unfair competitive practices in the computer industry draw more customers, Many investors believe 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. Corporate social responsibility describes the firm's: A. responsibility to their stockholders. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. Even small companies participate in _______ through donations and volunteer support of local causes and national charities, such as the Red Cross and the United Way. Resource procurement and consumption practices B. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Those who argue in favour of corporate social responsibility suggest that: C. Watch tower sentinel Which of the following is a reason why a business should be managed compliance-based ethics Chapter 4 - Business Flashcards | Quizlet This will ensure that you have trustworthy employees working for you. tax officials. [B] reaches broad and diverse groups . [C] lack of trust in the free market system All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. U.S. companies that operate abroad, particularly those who contract with foreign companies, are now ________ human rights and environmental standards followed by U.S. law. My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. A. expanding the opportunity to behave ethically by providing rewards for following the rules. A company that has socially responsible human resources management is How to Write a Self-Assessment: 5 Tips to Improve Do Not Sell/Share My Personal Information, Limit the Use of My Sensitive Personal Information. D. buying the company's products. [C] it reduces the likelihood of lawsuits by employees or customers It is a set of guidelines for dealing with various procedures ethically. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . D. concern for the welfare of society. 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. 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. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. B. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. 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. Community members are bound by the pursuit of common values and goals. The total rent on the plant is$80.000 per period. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. A business should be managed ethically because Multiple select question. A. Internet A business starts with the correct usage and allocation of finances and cost management. Which of the following is NOT a part of an integrity-based ethics code? (A) businesses who are socially responsible will earn more D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. 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? enjoy greater employee loyalty Part-time co-worker 3. A. Business Ethics refers to carrying business as per self-acknowledged moral standards. [B] They may choose to cancel orders when there are human rights abuses. Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management providing safety equipment and training for their workers, increasing the diversity of their workforce The deliberative system leads to more-ethical behaviors. B. because strict global regulations require it. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. [A] Influence peddling List the most influential on top. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: insider trading. (A) are just part of doing business Explanation Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Multiple Choice Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. Discrimination and Harassment. The firm has evolved into a big business due to quality and innovative work. 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 . Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. (D) long jail terms for those who acted unethically. social order ethics allows them to connect directly with customers Article. Suppliers The employees of a corporation are stakeholders who are affected by management practices. True false question. On the flip side, a leader who personifies ethical behavior will be fair in all situations. lower ethical standards than in the past. The employment of ethical business practices can enhance overall corporate health in three important areas. There are a wide variety of examples of ethical behavior in the workplace. Multiple choice question. Multiple choice question. But when they do, employees need to take accountability for their actions. human resource support staff This, then, creates greater stability within the company.. B. socialism Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. An organization's managers instill corporate values and _____________________ in employees by the examples they set. On the line provided after the sentence, write the possessive form of the underlined words. \text{Variable manufacturing overhead} & \text{0.60}\\ technical policy reaches broad and diverse groups 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. 1. This indicates that: A. dancing around issues should be part of a firm's code of ethics. Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. insider trading. Synonym Discussion of Ethical. (A) it prevents government audits It is actually a structure of moral principles and code of conduct applicable to a business. Although these actions were not part of the mandatory waitstaff training, Amber perceived that waitstaff members who were not helping out were not viewed as team players by the majority of employees. Explanation Periodically asking every employee to evaluate the company's ethics performance. Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. Integrity-driven ethics codes corporate policy Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. For example, international bank HSBC was subject to a decade-long enforcement action costing it $1.92 billion after the federal government determined the institution violated money-laundering laws and sanctions rules. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are A. protecting the owners' rights and investments. This is an example of corporate: Trust and cooperation between workers and managers must be based on which of the following? Many companies Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. Business ethics concerns ethical dilemmas or controversial issues faced by a company. Which of the following is a reason why a business should be managed ethically? social policy Which of the following describes charitable donations by corporations to nonprofit organizations?