Motivation. allow for complete anonymity Community members are bound by the pursuit of common values and goals. Everyone with whom the business has dealings. Reevaluating its ethics codes based on the input of its customers. B. Whistleblowing C. Plagiarism However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. Multinational corporations are committed to operating within the legal limits of U.S. law. True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. [A] Influence peddling C. Research practices Multiple Choice Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. \text{Total production cost} & \text{\$ 9.20}\\ A. code of ethics. Synonym Discussion of Ethical. not concerned with the ethical or socially responsible behavior of their international suppliers. D. Outsiders must be told about the ethics program. C. An ethics office must be set up. 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? Shared accountability among employees. Which of the following represent examples of how corporations set positive standards of ethical behavior? (C) occur in many countries There are a wide variety of examples of ethical behavior in the workplace. pro-current procurement. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; 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? True Supports ethically sound behavior 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. (D) going to lose money by providing pay raises, A business should be managed ethically because With respect to business ethics, it can be said that "it takes two to tango." varies among those who are interested in corporate responsibility. A. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. Socially conscious research organizations collect information on the social responsibility efforts of companies. An ethical business will get your employees to respect your company . What are the causes of pay discrimination in the labor market? Which of the following is not one of the approaches associated with corporate social responsibility? allows them to connect directly with customers Multiple select questions. D. Outsourcing practices Complete each sentence with the comparative or superlative form of the modifier in parentheses. _____________________ _____________________ _____________________is a business's concern for the welfare of society. Multiple choice question. Economic conditions in some developing countries make child labor a necessity for the survival of families. 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. D. fail to earn sufficient profits for their owners. D. Outsourcing practices Reevaluating its ethics codes based on the input of its customers. A well-implemented ethics program can also reduce losses. The employment of ethical business practices can enhance overall corporate health in three important areas. B. ability to plan for the unexpected. Studies have found a _____ correlation between academic dishonesty and dishonesty at work. It does not subtract from the bottom line; it adds to it. Distributors. stockholders Then, of course, there are the more serious consequences of highly unethical behavior. Explanation social order ethics A. Ethical standards are different from country to country. 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. According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by The authors start from the assumption that most people wish to behave ethically. [C] The U.S. government will use military force to enforce labor laws.. only to compete and make a profit a written code of ethics 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. 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. Business ethics helps to optimize company resources. What occurs when an employee exposes an employer's wrongdoing to outsiders? Socially conscious investors insist that a company extend its own high standards to its ____________________. ethical standards that are often unreasonable and cannot be met by most leaders. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. C. Investor relations social media Responsible business behavior depends on the responsible behavior of each ______ in the business world. For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. Example 1. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. "It's an ongoing phenomenon that must be better understood and managed and . Multiple select question. [C] making businesspeople more accountable for their actions The chief engineer has recommended against this move, however, pointing out that the cost to produce the starters would be greater than the current 8.40perunitpurchaseprice:8.40 per unit purchase price:8.40perunitpurchaseprice: PerUnitTotalDirectmaterials$3.10Directlabor2.70Supervision1.50$60.000Depreciation1.00$40.000Variablemanufacturingoverhead0.60Rent0.30$12.000Totalproductioncost$9.20\begin{matrix} It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. punishing unethical behavior and rewarding ethical behavior privately Depreciation is due to obsolescence rather then wear and tear. It's the age-old reality: "Out-of-sight, out-of-mind." he 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. socially conscious research organizations. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. Government and business leaders are being held to [B] it increases the likelihood of government intervention Team and business confidence. Companies higher ethical standards than in the past. Both positive and negative activities are measured. Multiple choice question. actual ethics. Ignoring hazardous job conditions that exist in the company's facilities reducing regulations about labeling Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. based on a commitment to integrity and respect (D) occur in only a few countries. Multiple choice question. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. E. law. C. Watch tower sentinel whistleblowers secondary market companies. Society With regard to socially responsible behavior, American businesses are Multiple choice question. The amount of pollutants a firm unleashes into the environment would serve as an example of a negative activity that would be included in the social audit measurements. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? In the long run, CSR enhances profits. ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. Explanation Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. Top management must adopt and support a corporate code of conduct. In this episode of Experiencing Data, Chenda and I explore her actual methods to designing ethical AI solutions as well as how she works with UX and product teams on ML solutions. Corporate philanthropy A. expanding the opportunity to behave ethically by providing rewards for following the rules. <br> I . concern for the welfare of society About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. If an underlined word is already in the correct possessive form, write a C on the line. it makes financial as well as moral sense to invest in companies that plan to create a better environment, that they can improve their own financial health by investing in companies whose goods and services benefit the community internal investigation. Its easier for a business to retain employees when they work for a company that they believe in. Compliance-driven ethics standards It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. All successful businesses communicate effectively. Periodically asking every employee to evaluate the company's ethics performance. Multiple choice question. Multiple Choice These principles govern every aspect of the company's operations, including its interaction with the government and other businesses, its treatment of its employees and its relationship with its customers. [D] severe financial crises. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. employees and internal public relations She has asked you to give her information about what determines the level of various interest rates. Multiple choice question. Businesses can show their CSR in many ways. 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. offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. 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. going to lose money by providing pay raises B. disgruntled workers manipulating budgets and expenses. \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ 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. Who sets the standards of right and wrong as defined by ethics? To allow whistleblowers to come forward with information organizations should corporate responsibility D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. [A] making the charges public before the investigation moral impropriety. Explanation [C] only to compete and make a profit Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. Explanation Written ethics codes can be categorized as only with their responsibility to their shareholders True false question. 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? A. profits. It is essentially a moral compass. aggregate independent appraisal. They need to take responsibility for what happened and be proactive in fixing it. [A] They will bribe local officials to change their policies. allows them to reach specific groups more directly. Marketing, Finance, Sales), technical roles (e.g. 1. government-supported direct mail campaigns Financial transparency This, then, creates greater stability within the company.. She was even _____ after her solo than before. Which of the following describes charitable donations by corporations to nonprofit organizations? (B) 3 out of 4 citizens think they should be paid for their volunteer work (D) long jail terms for those who acted unethically. It emphasizes sustainability, customer loyalty, brand image, and employee retention. Business Ethics refers to carrying business as per self-acknowledged moral standards. customers clarifying what green means The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. [B] They may choose to cancel orders when there are human rights abuses. many Americans decide what's ethical based upon the situation in which they find themselves. An important factor in enforcing an ethics code is: Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. Determining what is involved for a firm to be socially responsible: A. is easy. Codes of ethics foster ethical behavior by Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. Mistakes and misunderstandings are bound to happen in any work setting. Multiple Choice When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. Emphasizes strong penalties for wrongdoers True false question. Deceptive advertising of medicines and toys 2. corporate social initiative B. an individual's behaviour is influenced by the behaviour of others. technical policy [A] relate well to employees at all levels Multiple select question. going to save money by not hiring those who are disabled D. the nation's business schools that tolerate unethical behaviour in students. C. structure and strategy. A business should be managed ethically because, businesses with good reputations attract customers. A business starts with the correct usage and allocation of finances and cost management. retaliation 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. Dodd-Frank Wall Street Reform and Consumer Protection Act (nervous). [A] it reduces employee turnover shareholders 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. Packaging requirements (A) are just part of doing business What Does Ethical Decision Making Mean? False. The concern businesses have for the welfare of society, not just for their owners is: Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. C. practice deception regarding product safety issues. integrity-based ethics True C. moral philosophy. An important reason for a company to maintain its ethical reputation is They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. firms should take added caution not to support government programs that protect the environment. Honorees on this year's list of the World's Most Ethical Companies outperformed the Large Cap Index by 10.5 percent over three years. whistleblowers. lower ethical standards than in the past. Multiple choice question. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. Which of the following are reasons a business should be managed ethically? free from the concern of It is a set of guidelines for dealing with various procedures ethically. unethical Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ A. C. help laid-off employees get their jobs back. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ 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. likely to perform better financially B. personal responsibility C. compliance U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. True B. philanthropy A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. In a business setting, ethical behavior applies to any employee, team lead or supervisor. It seeks to promote honesty, fairness, and responsibility in all advertising. 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. 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: C. providing all relevant information about current and projected performance of the firm. C. a loss of employee commitment and trust in the company and its management. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. capitalism True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. Multiple select question. [C] lack of trust in the free market system insider trading. create an open-door policy, protect them from retaliation insider trading. Part-time co-worker 3. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition Its premise is based on integrity, fairness, and respect for others. Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. Sarbanes-Oxley Ruling In "Two Kinds," how does the narrator feel after the talent show? 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: D. shift the production of goods to foreign facilities and layoff Canadian workers. A. delight them with a quality product at a fair price. The You Design, We Build Company makes custom furniture of all kinds. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. (B) it is using investors' money in ways they did not intend B. socially conscious research organizations. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. increased their financial donations because they understood how badly society needed a helping hand. D. Improved awareness of the relevant laws. [D] To avoid lawsuits, Effective ethics officers: Maria Juarez is a professional tennis player, and your firm manages her money. social audit. B. A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? 1. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. B. philanthropy. D. expanding the opportunity to behave ethically by providing punishments for following the rules. because strict global regulations require it Corporate values are: True false question. A. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. [C] Paying U.S. minimum wage draw more customers, retain better employees Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. The moral and ethical standards by which leaders are judged are far stricter than in the past. Ethical behavior includes honesty, fairness, integrity and understanding. Research has shown that companies engaged in corporate social responsibility (CSR): The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. cultural and accountable Ethics are the standards of right and wrong set for us by society, whereas legality refers to. Defines an organization's guiding principles. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: These actions are By being ethical, leaders can foster an environment that rewards and encourages good attitudes. (C) likely to perform worse financially Those who argue in favour of corporate social responsibility suggest that: separating themselves from suppliers who violate 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 . tax officials. benevolence can lead to a vote of no confidence by company stakeholders. It does not subtract from the bottom line; it adds to it. Supervisor 2. False. D. companies who are perceived as being socially responsible will ultimately earn more profits for their Article. Another reason why business ethics is important is that it can improve profitability. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? An organization's managers instill corporate values and _____________________ in employees by the examples they set. [C] allows them to reach specific groups more directly There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. Multiple Choice Business ethics benefits the bottom line. Target is a business. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . Ethical behavior has significant upfront costs which may never be recovered. [B] Bribery Which of the following would be a unique focus of an integrity-based ethics code? (A) likely to perform better financially B. maintaining proper accounting procedures. C. writing their representatives in Congress. That person called five of his relatives and several friends. Source interviews were conducted for a previous version of this article. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\