It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. A high ethical standard extends to customers as well. many Americans decide what's ethical based upon the situation in which they find themselves. D. management is insensitive to ethical issues. Vanessa recognizes this as a(n) ________-based code of ethics. human resource support staff B. being socially responsible is all about being ethical. 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. Which of the following is not one of the approaches associated with corporate social responsibility? Value (ethics and social sciences) - Wikipedia Though there are many ethical opinions that most people share, ethics will differ from person to person. Its easier for a business to retain employees when they work for a company that they believe in. insider trading. [B] Bribery Explanation True false question. 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 . a clear set of rules and regulations Sherman Act Who sets the standards of right and wrong as defined by ethics? In the following sentence, circle the subject of the underlined verb. Multiple select question. Integrity-based ethics codes reducing most costs D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? It could also mention specific protocol within the business. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. [A] relate well to employees at all levels Multiple choice question. Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet ethical officers To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. Another reason why business ethics is important is that it can improve profitability. 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. Whistleblowers are often concerned about retaliation. However, it was disclosed that somehow a member of Paulie's management team mentioned the deal to a person he sat next to on a flight from LA to Seattle. A. profits. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility Rank the following jobs according to their importance in influencing the implementation of ethical standards. In the long run, they believe 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. School McMaster University; Course Title COMMERCE 1E03; Type. 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. [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is holding international suppliers to different standards than American companies must adhere to in the United States. unethical A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. [A] making the charges public before the investigation Multiple select question. The most basic question in an ethics-based management system is. Multiple Choice Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. The deliberative system leads to more-ethical behaviors. A. We covered: How data teams can actually design ethical ML models, after . moral impropriety. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: 8 Mini-Case Study, Intro-Into-Business: Ch. Ethical Marketing - Marketing Schools B. maintaining proper accounting procedures. Chapter 4 LearnSmart Quiz Flashcards | Quizlet B. opportunity. The employees of a corporation are stakeholders who are affected by management practices. In running a successful business, a key factor in that success will be the ethical and moral standards of yourself, your leaders, and your entire team. Becoming an environmentally friendly business | Business Queensland D. integrity. C. Increased penalties for code violators. A. code of ethics. If the verb is already correct, write C above it. This is called a bounty provision because as stated, they may receive a monetary award for their actions. (B) lack of trust in the free market system C. teamwork eliminates a need for personal ethics. socially conscious research organizations. general guiding values Supervisor stockholders [C] To increase employee turnover An important reason for a company to maintain its ethical reputation is acquisition stalking. 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} of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. Multiple choice question. social media. Source interviews were conducted for a previous version of this article. The purpose of a code of ethics is to guide employees in handling ethical dilemmas. B. . varies among those who are interested in corporate responsibility. Increased control over employee actions. [A] Influence peddling A business's responsibilities to its owners and investors include D. expanding the opportunity to behave ethically by providing punishments for following the rules. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . It is essentially a moral compass. retaliation Periodically asking every employee to evaluate the company's ethics performance. B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and B. ability to plan for the unexpected. to increase employee turnover A company that has socially responsible human resources management is A. Diversity and discrimination B. Should an instance occur, the result could be devastating to your company's finances and reputation. Why Are Business Ethics Important? A Guide - Investopedia Integrity-based ethics codes D. Outsourcing practices D. concern for the welfare of society. Full-time co-workers 3. 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. Multiple choice question. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. integrity-based ethics On the line provided after the sentence, write the possessive form of the underlined words. It is the right thing to do. 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. <br> I . Managing data ethics | Deloitte Insights An organization's managers instill corporate values and _____________________ in employees by the examples they set. When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. Multiple Choice Unfair competitive practices in the computer industry Explanation Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. It's the age-old reality: "Out-of-sight, out-of-mind." Multiple Choice False. lower ethical standards than in the past. 8 Current Ethical Issues in Business (and How to Manage Them) Distributors. Whistleblowers are insiders who report illegal or unethical behavior. Explanation Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? Multinational corporations are committed to operating within the legal limits of U.S. law. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. 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. D. Outsiders must be told about the ethics program. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: Typically, it is the kind of information where parties in the know can benefit. Ethical problems such as influence peddling and bribery: 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. Due to the fact that it is not yet public, those who act upon the information have an unfair advantage and stand to gain financially. Employees and management alike can work together to create businesses that have high standards. Multiple Choice C. helps government officials develop appropriate legislation. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. Ethics in the Workplace: Examples & Tips | PayScale (C) gains for investors in 2008 and 2009 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. for the welfare of society as a whole, about being fair and honest with their stakeholders The rent charge above is based on space utilized in the plant. [D] allows them to connect directly with customers. additional taxes All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. Multiple Choice "It's an ongoing phenomenon that must be better understood and managed and . Economics - Wikipedia A. guilt payments. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. Businesses must abide by some basic principles. It is actually a structure of moral principles and code of conduct applicable to a business. 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? 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. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. How does the action I am proposing to take make me feel about myself? Government and business leaders are being held to 051-Methods for Designing Ethical, Human-Centered AI with Undock Head C. providing all relevant information about current and projected performance of the firm. Ethical behavior positively impacts a businesss financial performance. 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. B. Ethics can be rooted in belief or the pursuit of making the world better. Fraud Multiple choice question. reducing regulations about labeling 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. Ethical behavior does not matter to investors. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. BUS-112 Chapter 4 - Subjecto.com Notes. (C) make students who know how to plagiarize well acceptable to employers Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. An ethically managed business helps to reduce employee turnover. B. varies even among those who are interested in corporate responsibility. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. Which of the following is the BEST reason for a business to be managed ethically? Example 1. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . Ethical Definition & Meaning - Merriam-Webster 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: (D) affect hiring practices very little. B. disgruntled workers manipulating budgets and expenses. Chapter 4 - Business Flashcards | Quizlet Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. 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? C. diversity corporate social responsibility, Corporate social responsibility is when businesses are concerned It seeks to promote honesty, fairness, and responsibility in all advertising. CSR can lead to even more profits. How are these two rates measured? Business should be managed ethically because Businesses with good reputations attract customers It reduces employee turnover It reduces the likelihood of lawsuits by employees or customers True or false: individuals have social responsibilities regarding their ethical behavior in the business world. B. an individual's behaviour is influenced by the behaviour of others. A. the breakdown of traditional religious institutions. corporate beneficial management information technology Supervisor 2. 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. Specific decisions made by your organization, whether by an individual or the entire group, can have a massive impact on how your company is viewed and the reputation it cultivates for itself. Top management The authors start from the assumption that most people wish to behave ethically. B. a failure of leadership to establish ethical standards. B. $A supervisor would have to be hired to oversee production of the starters. allow for complete anonymity [D] businesses with good reputations attract customers. What Are Business Ethics? Definition, Types and Examples B. philanthropy. According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? Chapter 4 - Homework ( Introduction To Business) - Quizlet Multiple Choice [C] allows them to reach specific groups more directly C. An ethics office must be set up. decreased financial donations and eliminated support in almost every way. \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ 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? Which of the following were not identified as being fundamental to the CSR definition? using recyclable packaging Both positive and negative activities are measured. higher ethical standards than in the past. 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? A. Overstating an expense report. Chapter 4. providing safety equipment and training for their workers, increasing the diversity of their workforce A. D. shift the production of goods to foreign facilities and layoff Canadian workers. An organization's managers instill corporate values and _____________ in employees by the examples they set. aggregate independent appraisal. B. expressing dissatisfaction by protesting. \text{Total production cost} & \text{\$ 9.20}\\ demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Multiple select question. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ Compliance-driven ethics standards (C) likely to perform worse financially America's CEOs Seek a New Purpose for the Corporation E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. Which of the following would be a unique focus of an integrity-based ethics code? A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. Multiple select question. 2. 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 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. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. [A] outsourcing enforcement of the laws to private firms 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. it reduces laws and regulations Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. [C] lack of trust in the free market system 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. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Supports ethically sound behavior In a business setting, ethical behavior applies to any employee, team lead or supervisor. Multiple select question. Which of the following should help reduce the incidence of unethical behavior in an organization? A business should be managed ethically for many E. all of the answers are correct. 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 If an underlined word is already in the correct possessive form, write a C on the line. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. Corporate social responsibility describes the firm's: A. responsibility to their stockholders. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. [D] Political risk taking. Business principle (3) Flashcards | Quizlet It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. A. Internet tax officials. D. the nation's business schools that tolerate unethical behaviour in students. 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. (D) 3 out of 4 citizens volunteer, but cheat on their taxes, Using information from the internet or other sources without giving credit to the author is, The strong relationship between academic dishonesty and dishonesty at work is likely to She was even _____ after her solo than before. Top management must adopt and support a corporate code of conduct. Which of the following represent examples of how corporations set positive standards of ethical behavior? 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. False. The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. Giving back to society A. Governments This includes managers and subordinates, peers and clients. (C) to increase employee turnover How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. Ethical Dilemmas: How Scandals Damage Companies 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. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. (D) long jail terms for those who acted unethically. 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 . 1. [B] To maintain a good reputation