[C] The U.S. government will use military force to enforce labor laws.. Explanation separating themselves from suppliers who violate. ___________ __________ ______________is a business's concern for the welfare of society. Your boss has prepared some questions for you to consider. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. Periodically asking every employee to evaluate the company's ethics performance. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. 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 . These examples of ethical behaviors ensures maximum productivity output at work. acquisition stalking. for the welfare of society as a whole, about being fair and honest with their stakeholders Explanation Top management is essentially conducting a(n) Strict global regulations require it. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: [D] Political risk taking. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. Explanation A. True Full-time co-workers 3. (C) attract and retain better employees Its premise is based on integrity, fairness, and respect for others. going to save money by not hiring those who are disabled Which of the following is the BEST reason for a business to be managed ethically? (A) businesses who are socially responsible will earn more A. Diversity and discrimination B. Multiple choice question. Which of the following statements about business ethics is false? [B] about being fair and honest with their stakeholders Multiple Choice Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". She has asked you to give her information about what determines the level of various interest rates. [B] Bribery [A] it reduces employee turnover Multiple choice question. List the most influential on top. Supervisor 2. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. Multiple select question. 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. (B) are limited to the United States A business starts with the correct usage and allocation of finances and cost management. Positive Effects of . based on a commitment to integrity and respect Studies have shown that what most influences a company's effectiveness and financial performance is: responsible management of human resources, Which of the following behaviors are illegal in the United States, but potentially put our companies at a disadvantage in overseas markets? 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. 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. lose sales revenues D. Outsourcing practices 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. Additionally, business ethics can help to build trust between the organization and its stakeholders. 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. The You Design, We Build Company makes custom furniture of all kinds. shareholders Multiple choice question. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. 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. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Ethical behavior positively impacts a businesss financial performance. reaches broad and diverse groups ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. Reevaluating its ethics codes based on the input of its customers. 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 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. technical policy 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. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. Compliance-driven ethics standards Compliance-based ethics codes B. philanthropy. 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. human resource support staff B. opportunity. $A supervisor would have to be hired to oversee production of the starters. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Multiple select question. B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and D. management is insensitive to ethical issues. D. fail to earn sufficient profits for their owners. social impact program. 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) ? An important reason for a company to maintain its ethical reputation is setting a good example. Top management It may just be the cornerstone of your success. compliance-based ethics However, anyone caught violating a law will be immediately fired." According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Stresses shared accountability Multiple choice question. A well-implemented ethics program can also reduce losses. Multiple choice question. social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Internal Audit Company Protection Act Which of the following statements is false? It does not subtract from the bottom line; it adds to it. [D] severe financial crises. C. teamwork eliminates a need for personal ethics. Here are five reasons why you should keep things legal and follow business ethics in accounting. 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. <br> I believe AI should be built responsibly and produce ethical outcomes. 360-review. [A] relate well to employees at all levels create an open-door policy, protect them from retaliation In the long run, CSR enhances profits. a clear set of rules and regulations [D] allows them to connect directly with customers. a written code of ethics (C) 4 out 5 citizens volunteer an hour each week is costly, but worthwhile in reaching specific customers Integrity-based ethics codes social initiatives An ethical business will get your employees to respect your company . Which of the following are reasons a business should be managed ethically? It seeks to promote honesty, fairness, and responsibility in all advertising. On the line provided after the sentence, write the possessive form of the underlined words. _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Explanation D. buying the company's products. formal and informal. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. Though there are many ethical opinions that most people share, ethics will differ from person to person. Multiple select question. aggregate independent appraisal. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. (C) occur in many countries 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. B. 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. (A) investors putting more money into both markets When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. Multiple Choice Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. [D] businesses with good reputations attract customers. Research into ethics and business performance has shown the two are linked in some important ways. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . (A) it prevents government audits Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. . U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. The international Day Of Pe, Chapter 3 Doing Business in a Global Markets, 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, Spring 2018 Final Exam Review Chapters 8,9,10. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Morality codes Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. [A] Influence peddling Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. likely to perform better financially A. B. varies even among those who are interested in corporate responsibility. 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.. Multiple Choice Which step is the most critical to help improve business ethics? 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 Multiple Choice Dont make ethics an afterthought in your company culture. 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. (B) lack of trust in the free market system Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. Studies have found a _____ correlation between academic dishonesty and dishonesty at work. True or false: Many investors believe that by choosing to put their money into companies whose goods and services benefit society, they can improve society's financial health as well as their own. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. 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. Explanation internal search and occupy organizations. Ethical behavior has significant upfront costs which may never be recovered. An important reason for a company to maintain its ethical reputation is A business should be managed ethically for many reasons to maintain a good. A. expanding the opportunity to behave ethically by providing rewards for following the rules. \text{ } & \text{Per Unit} & \text{Total}\\ unethical D. guideline. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. False. A. reduced employee turnover. for the welfare of society as a whole, True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: A systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs is called: How are U.S. companies likely to pressure foreign companies to change their standards of ethics and social responsibility? demanding that international suppliers adhere to higher, more costly standards than their American counterparts. corporate social initiative When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. not concerned with the ethical or socially responsible behavior of their international suppliers. Ethical management generates trust, and trust increases productivity. allows them to connect directly with customers The best way to instill a culture of ethics among your employees is to lead by example and maintain a clear zero-tolerance policy on specific unethical behaviors, such as lying, cheating, stealing and fraud. Trustworthiness. [D] requiring all bankers to sign ethical codes. A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. 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 social responsibility is when businesses are concerned D. help investors recoup their losses. Mistakes and misunderstandings are bound to happen in any work setting. Part-time co-worker 3. How Does 401(k) Matching Work for Employers? 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 . Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. Which of the following are reasons a business should be managed ethically? On the flip side, a leader who personifies ethical behavior will be fair in all situations. only with their responsibility to their shareholders (B) make employers reluctant to hire those who have cheated True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? Amber was observing an example of the ___________ followed at this organization. E. filing complaints with the company. This is due to the fact that our ethics are shaped by our moral code. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are socially conscious research organizations. [B] allowing management to decide the outcomes of investigations School McMaster University; Course Title COMMERCE 1E03; Type. concern for the welfare of society D. varies from industry to industry.
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