a business should be managed ethically because

Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. \text{Direct labor} & \text{2.70}\\ Team and business confidence. Which of the following would be a unique focus of an integrity-based ethics code? Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that (C) benevolence is the highest virtue draw more customers, Many investors believe (D) affect hiring practices very little. 2. profitable charities D. help investors recoup their losses. Strict global regulations require it. Financial transparency Due to a reduction in output, the company has idle capacity that could be used to produce the starters. ignoring both ethical and unethical behavior Is it acceptable if everyone else is doing it? Dodd-Frank Wall Street Reform and Consumer Protection Act 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. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. C. to attract new customers and retain existing customers. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? compliance-based ethics When management considers ethics in its actions toward stakeholders, employees can be positively affected. 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. Which of the following are reasons a business should be managed ethically? Unfair competitive practices in the computer industry school districts social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Businesses can show their CSR in many ways. A business should be managed ethically for many reasons: to maintain a good reputation; to keep existing customers and attract new ones; to avoid lawsuits; to reduce employee turnover; to avoid government intervention; and to please customers, employees, and society. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. A business should be managed ethically because, businesses with good reputations attract customers. C. Accounting fraud She has asked you to give her information about what determines the level of various interest rates. B. opportunity. 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. 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. 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. True false question. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. D. guideline. C. It is the law in the U.S. D. Employees. B. because strict global regulations require it. Article. Multiple Choice C. diversity C. teamwork eliminates a need for personal ethics. it reduces laws and regulations In a business setting, ethical behavior applies to any employee, team lead or supervisor. [D] Political risk taking. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Many companies Reevaluating its ethics codes based on the input of its customers. It emphasizes sustainability, customer loyalty, brand image, and employee retention. that only society's health is improved when they invest in companies whose goods and services benefit the community D. companies who are perceived as being socially responsible will ultimately earn more profits for their 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. Amber was observing an example of the ___________ followed at this organization. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . [D] requiring all bankers to sign ethical codes. 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. It could also mention specific protocol within the business. compliance-based With regard to socially responsible behavior, American businesses are [B] reaches broad and diverse groups capitalism Both positive and negative activities are measured. (nervous). How are these two rates measured? A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is D. management is insensitive to ethical issues. Corporate social responsibility is based on a Decorating Arrangements has just completed operations for the year ended December 31, 2016. Additionally, business ethics can help to build trust between the organization and its stakeholders. (D) occur in only a few countries. Though there are many ethical opinions that most people share, ethics will differ from person to person. 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 Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. enjoy greater employee loyalty an individual's ethics Here are five reasons why you should keep things legal and follow business ethics in accounting. pro-current procurement. Studies have found a _____ correlation between academic dishonesty and dishonesty at work. A. (B) it is using investors' money in ways they did not intend Multiple choice question. Explanation Multiple Choice social order ethics On the line provided after the sentence, write the possessive form of the underlined words. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. D. stockholders. First and foremost, father of 5 and grandfather to 3.<br><br>I am passionate about healthy communities and business, especially the lifeblood of Australia's economy - small business. A. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. standards. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ the collection of laws to protect society from fraud, theft, and violence. False. 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. retaliation Socially conscious research organizations collect information on the social responsibility efforts of companies. whistleblowers. increasing the diversity of their workforce [A] relate well to employees at all levels tax officials. C. helps government officials develop appropriate legislation. They need to take responsibility for what happened and be proactive in fixing it. A. expanding the opportunity to behave ethically by providing rewards for following the rules. Community members are bound by the pursuit of common values and goals. secondary market companies. A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . Businesses should create and display their code of ethics publicly. (A) investors putting more money into both markets Those who have others interests in mind when they make decisions are displaying ethical behavior. Ethical issues are limited to for-profit organizations. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". \text{Direct materials} & \text{\$ 3.10}\\ D. buying the company's products. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. integrity-based ethics [D] businesses with good reputations attract customers. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: A. you need to justify socially responsible behaviour from an investors standpoint only. A. protecting the owners' rights and investments. Demanding Ethical and Socially Res, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Natuurwetenschappen eerste jaar examen trimes. Chapter 4. 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 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. 1. Multiple choice question. Multiple choice question. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. 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? Ethical behavior does not matter to investors. Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. many Americans decide what's ethical based upon the situation in which they find themselves. Ethics may seem like an intangible, but there is a clear connection to overall performance. [A] They will bribe local officials to change their policies. 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 . It is essentially a moral compass. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. C. Watch tower sentinel enjoy greater employee loyalty Top management Multiple Choice Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. (A) are just part of doing business It does not subtract from the bottom line; it adds to it. An appearance of conflict exists when a reasonable person looking at the situation from outside (and without personal knowledge of anyone involved) will conclude from the circumstances that the employee's ability to perform his or her duties may be compromised by personal interest. (C) to increase employee turnover A. profits. Supervisor C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics She was even _____ after her solo than before. 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. Practice deception regarding product safety issues. Codes of ethics foster ethical behavior by vigilantes. Internal Audit Company Protection Act for the welfare of society as a whole, about being fair and honest with their stakeholders An ethically managed business helps to reduce employee turnover. Then, of course, there are the more serious consequences of highly unethical behavior. Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. Multiple choice question. [A] To attract customers A. guilt payments. Today, as many Americans (64%) say that a company's "primary purpose" should include "making the world better" as say it should include "making money for shareholders." Trustworthiness. C. the increase in lawsuits used to avoid personal responsibility. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and (C) gains for investors in 2008 and 2009 insider trading. E. all of the answers are correct. 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} (D) make more money for investors in the short run. Typically, it is the kind of information where parties in the know can benefit. A Understanding that individual moral standards, the influence of managers and coworkers, and Ethical problems such as influence peddling and bribery: In turn, employees will trust that their leadership team is working toward the greater good of the entire company. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: corporate social initiative 2. Multiple Choice Increased control over employee actions. 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. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. Multinational corporations are committed to operating within the legal limits of U.S. law. When there is a base level of respect established, people take criticism less personally, are able to communicate more openly, and can see and value the other persons perspective. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. global policy formal and informal. 8 Mini-Case Study, Intro-Into-Business: Ch. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. 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 Distributors. Whistleblowers are often concerned about retaliation. What are the causes of pay discrimination in the labor market? Multiple choice question. Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. (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: Employees and management alike can work together to create businesses that have high standards. D. Deceptive advertising of food products E. All of the answers are correct, As a new employee, Vanessa has heard her boss say, "Do whatever it takes to meet your sales quota. [D] To avoid lawsuits, Effective ethics officers: 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. Multiple choice question. corporate responsibility [C] making businesspeople more accountable for their actions With respect to business ethics, it can be said that "it takes two to tango." Ethical behavior includes honesty, fairness, integrity and understanding. corporate raiders. draw more customers, retain better employees . I'm a Product Manager with experience working cross-functionally with business roles (e.g. Integrity-based ethics codes \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ The findings reveal that quality service and an ethical business plan are essential to long-term business success. ___________ __________ ______________is a business's concern for the welfare of society. because strict global regulations require it Corporate values are: \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." 22. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. 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. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. It does not subtract from the bottom line; it adds to it. C. business exists only to make money for shareholders. The second major meaning behind the term is . 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. 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. Multiple Choice . In the long run, they believe Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be Workplace and colleague wellbeing. Companies Fraud [D] They may choose to cancel orders when there are environmental abuses. Explanation D. Integrity watchdog. Periodically asking every employee to evaluate the company's ethics performance. C. a loss of employee commitment and trust in the company and its management. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. B. While these actions might not be illegal, they can definitely have negative effects on the morale and success of a company, especially if their dirty laundry is aired publicly. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. increased financial donations to local areas but pulled away from national and global contributions. Explanation Suppliers C. providing all relevant information about current and projected performance of the firm. using recyclable packaging Compliance-based ethics codes focus on: (C) occur in many countries C. energy consumption Notes. Society B. an individual's behavior is influenced by the behavior of others. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. A. Multiple Choice D. Outsourcing practices Multiple Choice Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility B. customers B. maintaining proper accounting procedures. Multiple choice question. Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. Written ethics codes can be categorized as social initiatives analysts. If the verb is already correct, write C above it. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? information technology Shared accountability among employees. It is actually a structure of moral principles and code of conduct applicable to a business. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. C. moral philosophy. [B] share all information with managers when requested compliance police. 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. Another reason why business ethics is important is that it can improve profitability. True Internal auditors 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) attract and retain better employees The business term we use to describe this philanthropic action is ___________________, where a company donates what it does best to help make a situation better. Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. As a philosophy, ethics are the principles that guide a person's behaviour. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. 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 . How can. reducing most costs promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Business ethics benefits the bottom line. Depreciation is due to obsolescence rather then wear and tear. Multiple select question. B. enjoy significantly higher profits. 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. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. B. Whistleblowing C. Plagiarism A number of ethical scandals in the past decade have raised awareness of ethical issues in business. B. ability to plan for the unexpected. A few months ago, Paulie's Pizza House, a large nationwide chain of restaurants, purchased one of its competitors, Italian Stallion Pizza Stations, for $800 million. An organization's managers instill corporate values and _____________________ in employees by the examples they set. E. law. E. A criminal lawsuit. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. A business should be managed ethically for many reasons to maintain a good. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. Economics (/ k n m k s, i k -/) is the social science that studies the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work.