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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. corporate responsibility social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Multiple choice question. called stakeholder interest about being fair and honest with their stakeholders A company that has socially responsible human resources management is 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. Stresses shared accountability Think about a business that hires only family or one that gives inappropriate incentives, for example. [C] Paying U.S. minimum wage Explanation C. An ethics office must be set up. All else held equal, socially responsible firms: A. are viewed more favourably by consumers. Chapter 4. Ch 4 Flashcards | Quizlet This is called a bounty provision because as stated, they may receive a monetary award for their actions. Multiple choice question. C. practice deception regarding product safety issues. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. Deceptive advertising of medicines and toys [B] it increases the likelihood of government intervention The employees of a corporation are stakeholders who are affected by management practices. Multiple choice question. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. They need to take responsibility for what happened and be proactive in fixing it. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. C. Watch tower sentinel Multiple choice question. 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? fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. enjoy greater employee loyalty B. Horn blower C. Corporate strategy [A] Influence peddling \text{Variable manufacturing overhead} & \text{0.60}\\ Intro. business chapter 5 Flashcards | Quizlet The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. Multiple select questions. social order ethics Why Are Business Ethics Important? A Guide - Investopedia The majority of CEOs blame unethical employee conduct on: Value (ethics and social sciences) - Wikipedia (A) are just part of doing business A. benevolence can lead to a vote of no confidence by company stakeholders. Multiple Choice U.S. companies tend to overlook and forget human rights abuses abroad. A. only to compete and make a profit investors. 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. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: The most basic question in an ethics-based management system is. 051-Methods for Designing Ethical, Human-Centered AI with Undock Head A Understanding that individual moral standards, the influence of managers and coworkers, and True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Tejas Vemparala also contributed to this article. Answer (1 of 4): When you manage a business ethically it attracts the right people that can suit your company culture and proficiently fit with your business. They define crimes more narrowly than do ethics protect from fraud, theft, and violence, while are used to decide how we treat others responsibly to society's views of right and wrong Ethically Behaving often requires more than obeying the law. Business Should Always Be Ethically and Socially Responsible 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. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. D. short run profit maximization. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility Sherman Act 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 A. Diversity and discrimination B. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. Becoming an environmentally friendly business | Business Queensland Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. We covered: How data teams can actually design ethical ML models, after . Putting Ethical Design into Practice. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? (D) occur in only a few countries. Notes. False. an individual's ethics C. moral philosophy. Ethics in the workplace: the ethical manager | HRZone socially conscious research organizations. 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. 2. [C] can be trusted to maintain confidentiality internal search and occupy organizations. Part-time co-worker 3. 3 Reasons Why Business Ethics Is Important - Redlands With regard to socially responsible behavior, American businesses are A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. B. helping others commitment to maximizing shareholder profits in all decisions, Insiders, such as employees, who report concerns about a company's accounting or auditing practices are called: Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are (D) make more money for investors in the short run. In the long run, CSR enhances profits. Dodd-Frank Wall Street Reform and Consumer Protection Act. True Corporate policy refers to the position a firm takes on ______________ and __________________ issues. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: 360-review. 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. My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. 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. D. buying the company's products. Multiple choice question. based on a commitment to integrity and respect (C) make students who know how to plagiarize well acceptable to employers This is the third year of operations for the company. D. management is insensitive to ethical issues. Depreciation is due to obsolescence rather then wear and tear. A. reduced employee turnover. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. 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. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but It does not subtract from the bottom line; it adds to it. They should display behavior that is honest and fair in their relationships with co-workers and their. Distributors. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. Why Business Should Be Managed Ethically - Liveboardroom.info Supports ethically sound behavior [B] To maintain a good reputation \text{Total production cost} & \text{\$ 9.20}\\ What does the research into business ethics say? E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. firms should take added caution not to support government programs that protect the environment. Multiple select question. D. Pricing practices What are the causes of pay discrimination in the labor market? It may just be the cornerstone of your success. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ It is an act that is against the law and against Securities and Exchange Commission policy. Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; reducing most costs Multiple Choice B. Whistleblowing C. Plagiarism 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. [C] conducting objective investigations B. improve corporate profits. How does the action I am proposing to take make me feel about myself? Multiple choice question. integrity-based Those who argue in favour of corporate social responsibility suggest that: Business Ethics - A Successful way of conducting business Companies 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. (D) it reduces laws and regulations, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: acquisition stalking. 1. In the long run, they believe The first area is productivity. Supervisor 4. the collection of laws to protect society from fraud, theft, and violence. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. Displaying good ethical behavior can boost company morale and client relations. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: ERIC - EJ817941 - Using Ethics Vignettes in Introductory Finance Internal auditors [A] To attract customers Explanation Explanation Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. [D] having an ethics officer who is fair, A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is. B. Multiple Choice C. teamwork eliminates a need for personal ethics. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. compliance-based ethics demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. A business's responsibilities to its owners and investors include The first day on the job waiting tables at a popular restaurant, Amber noticed that when one member of the waitstaff was serving a very large party, the other waiters would help carry food to the tables and even check to make sure water glasses were filled. CSR can lead to even more profits. B. opportunity. As a philosophy, ethics are the principles that guide a person's behaviour. compliance-based [C] it reduces the likelihood of lawsuits by employees or customers [B] Bribery Integrity-based ethics codes When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. Typically, it is the kind of information where parties in the know can benefit. D. stockholders. draw more customers, Many investors believe True false question. Multiple choice question. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. $A supervisor would have to be hired to oversee production of the starters. Multiple choice question. concern for the welfare of society An important reason for a company to maintain its ethical reputation is insider trading. Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. Many companies It is essentially a moral compass. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. C. providing all relevant information about current and projected performance of the firm. [B] about being fair and honest with their stakeholders _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? Ethical Dilemmas: How Scandals Damage Companies An organization's managers instill corporate values and _____________ in employees by the examples they set. penalizing wrong-doers, increasing control A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . ", Corporate social responsibility is when businesses are concerned corporate social initiative Top management 1. C. all levels of management. Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. Chapter 4. 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. Trust and cooperation between workers and managers must be based on which of the following? D. concern for the welfare of society. Multinational corporations are committed to operating within the legal limits of U.S. law. (A) have fewer loyal customers but attract more of them Which of the following would least likely involve ethical concerns? Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. ignoring both ethical and unethical behavior What Are Business Ethics and Why Are They Important?