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Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. (A) investors putting more money into both markets Top officials in countries like Japan, South Korea, and China have faced legal charges of influence peddling and __________ charges, which serve as examples of the unethical behavior that U.S. companies face in overseas markets. Multiple select question. [B] They may choose to cancel orders when there are human rights abuses. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. <br> I . The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Codes of ethics foster ethical behavior by it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? Stresses shared accountability Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. . B. an individual's behavior is influenced by the behavior of others. A. expanding the opportunity to behave ethically by providing rewards for following the rules. (C) 4 out 5 citizens volunteer an hour each week In a business setting, ethical behavior applies to any employee, team lead or supervisor. Ethics can be rooted in belief or the pursuit of making the world better. C. teamwork eliminates a need for personal ethics. likely to perform better financially socially conscious research organizations. In the following sentence, circle the subject of the underlined verb. Multiple choice question. C. diversity True false question. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ B. expressing dissatisfaction by protesting. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: customers 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: allows them to connect directly with customers SE Oklahoma's MBA Programs Teaches Ethics Often, business ethics involve a system of practices and procedures that help build trust with the. List the most influential on top. standards. Workplace and colleague wellbeing. (A) matter very little to employers B. philanthropy. Eric Allgood - Managing Director - Small Business Assistance and Both positive and negative activities are measured. only with their responsibility to their shareholders moral impropriety. True The firm has evolved into a big business due to quality and innovative work. (A) have fewer loyal customers but attract more of them HR Ethical Dilemmas - SHRM corporate raiders. Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. Therefore, it is the most significant resource to run or upgrade any business. Businesses can show their CSR in many ways. Multiple Choice There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. What is ethical is determined by the public, government regulators, interest groups, competitors and each individuals personal moral values, Studying business ethics will not necessarily, Inform you concerning the impact of the work group on ethical decisions. \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ Multiple choice question. What kind of person do you think Paulsen is? D. Outsourcing practices Multiple choice question. 360-review. human resource support staff Multiple choice question. [C] lack of trust in the free market system 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? Business principle (3) Flashcards | Quizlet 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. called stakeholder interest She has asked you to give her information about what determines the level of various interest rates. 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. Other countries also follow capitalist principles. B. varies even among those who are interested in corporate responsibility. B. improve corporate profits. E. all of the answers are correct. corporate social responsibility, Corporate social responsibility is when businesses are concerned It does not subtract from the bottom line; it adds to it. going to save money by not hiring those who are disabled Managing data ethics | Deloitte Insights [B] share all information with managers when requested A. guilt payments. An ethical business will get your employees to respect your company . 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. lower ethical standards than in the past. D. maximizing their investment in the firm. Those who argue in favour of corporate social responsibility suggest that: acquisition stalking. Multiple select question. A. based on a commitment to integrity and respect and C. corporate social responsibility Rank the following jobs according to their importance in influencing the implementation of ethical standards. D. structure and strategy. D. Pricing practices Chapter 4 - Business Flashcards | Quizlet Fraud A business should be managed ethically for many reasons to maintain a good. This, then, creates greater stability within the company.. A. delight them with a quality product at a fair price. Recently, top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and to list negative occurrences that supervisors observed. C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics [C] The U.S. government will use military force to enforce labor laws.. Chapter 4 LearnSmart Quiz Flashcards | Quizlet An important factor in enforcing an ethics code is: A business should be managed ethically because, businesses with good reputations attract customers. True Rohit Sharma - Lead Technical Product Manager - LinkedIn Multiple choice question. Multiple choice question. social order 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 Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Multiple Choice The total rent on the plant is$80.000 per period. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". 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? The benefit of using __________ to communicate a business's CSR efforts to the public is that it allows companies to reach broad and diverse groups directly in a low-cost, efficient way. A business's responsibilities to its owners and investors include Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by B. philanthropy vigilantes. 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. 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. Which of the following would be a unique focus of an integrity-based ethics code? 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. A. Overstating an expense report. Emphasizes strong penalties for wrongdoers D. help investors recoup their losses. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. 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. 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. This will ensure that you have trustworthy employees working for you. Ethical behavior does not matter to investors. In fact, data collected by Ethisphere, an organization that tracks the ethical conduct of the worlds largest companies, found that the businesses listed on its 2022 list of most ethical companies outperformed an index of similar large cap companies by 24.6 percent overall. A business starts with the correct usage and allocation of finances and cost management. Multiple choice question. B. Horn blower \text{Direct materials} & \text{\$ 3.10}\\ 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 Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. B. the police in jurisdictions where the business has operations. Ethical behavior can have negative consequences to the bottom line in the long run. The side effects are so great that the society urges that the business should always be ethically and socially responsible. 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? They should display behavior that is honest and fair in their relationships with co-workers and their. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. Ethical Marketing - Marketing Schools Multiple select question. increasing control Corporate policy refers to the position a firm takes on ______________ and __________________ issues. offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? Multiple Choice To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. (C) make students who know how to plagiarize well acceptable to employers C. Investor relations E. all of the answers are correct. Which of the following were not identified as being fundamental to the CSR definition? is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . Personal projects capitalism retain better employees Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. 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. analysts. Responsible business behavior depends on the responsible behavior of each ______ in the business world. Reading: Global Business Ethics | International Business - Lumen Learning Explanation 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 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. Amber was observing an example of the ___________ followed at this organization. tax officials. corporate inclusion policy firms should take added caution not to support government programs that protect the environment. Employees and management alike can work together to create businesses that have high standards. [A] it reduces employee turnover D. Integrity watchdog. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. 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. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. Basic ethical practices have been gleaned through research and practical study of how businesses function, and how they operate, both independently and with one another. Multiple select question. The Sarbanes-Oxley Act and Ontario's Bill C-198 were both passed to A. punish those who committed accounting fraud in the late 1990s. the federal government E. Employee benefit programs. P 145 avoiding lawsuits is one reason to manage a - Course Hero Here are other common examples of ethical behavior: No matter the relationship between two people and what they agree or disagree upon, people within an organization should always respect each other. The second major meaning behind the term is . A. Trustworthiness. D. expanding the opportunity to behave ethically by providing punishments for following the rules. [C] making businesspeople more accountable for their actions [A] relate well to employees at all levels shareholders G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . plan to maximize profits for shareholders to spend in communities True Why Should Businesses Act Ethically? - Business Ethics and Corporate a clear set of rules and regulations 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. an individual's ethics socialism social media. 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: Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? [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. The last recession changed the way many companies offer support to people and communities in need. D. the nation's business schools that tolerate unethical behaviour in students. Multiple Choice 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. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. whistleblowers. 3 Reasons Why Business Ethics Is Important - Redlands What are the causes of pay discrimination in the labor market? How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. social impact program. Companies that participate in CSR typically have more loyal employees and customers. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. A business should be managed ethically for many. A business should be managed ethically for many B. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: (D) businesses cannot succeed in societies that fail. From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. An important factor in enforcing ethics codes is selecting a(n) ________ ________. C. Accounting fraud \text{Variable manufacturing overhead} & \text{0.60}\\ 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: Putting Ethical Design into Practice. Ch 4 Flashcards | Quizlet Business Ethics - Stanford Encyclopedia Of Philosophy Multiple select question. When Paulsen describes Storm, he also gives clues about his own personality. clarifying what green means [A] Influence peddling However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. Businesses must abide by some basic principles. The first area is productivity. A high ethical standard extends to customers as well. ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. An important reason for a company to maintain its ethical reputation is Additionally, business ethics can help to build trust between the organization and its stakeholders. A. responsibility \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ Paying employees on specified pay dates most of the time. 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." (B) 3 out of 4 citizens think they should be paid for their volunteer work 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? Top management must adopt and support a corporate code of conduct. allow for complete anonymity Multiple choice question. However, anyone caught violating a law will be immediately fired." This is due to the fact that our ethics are shaped by our moral code. Multiple select question. With respect to business ethics, it can be said that "it takes two to tango." How to Manage a Business Effectively (7 Key Elements) U.S. law does not require U.S. firms to comply because of competitive advantage concerns. C. Increased penalties for code violators. 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. But when they do, employees need to take accountability for their actions. help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. Dodd-Frank Wall Street Reform and Consumer Protection Act 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. Complete each sentence with the comparative or superlative form of the modifier in parentheses. 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. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. How are these two rates measured? ethical officers (C) attract and retain better employees [D] requiring all bankers to sign ethical codes. What occurs when an employee exposes an employer's wrongdoing to outsiders? whistleblowers. [B] Bribery A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. Which of the following represent examples of how corporations set positive standards of ethical behavior? compliance-based It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . Multiple Choice B. personal responsibility C. compliance Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? C. energy consumption retaliation Determining what is involved for a firm to be socially responsible: A. is easy. If the verb is already correct, write C above it. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? pro-current procurement. Packaging requirements The Importance of Business Ethics | Maryville Online Customer privacy policies and practices compliance-based ethics How can. Deceptive advertising of medicines and toys This includes managers and subordinates, peers and clients. Ethics in Management | Encyclopedia.com Multiple Choice On the line provided after the sentence, write the possessive form of the underlined words. cultural and accountable 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. True 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. C. to attract new customers and retain existing customers. Source interviews were conducted for a previous version of this article. Suppliers B. False. Product safety based on a commitment to integrity and respect C. Operational initiatives Think about a business that hires only family or one that gives inappropriate incentives, for example. 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. 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. formal and informal. ___________ __________ ______________is a business's concern for the welfare of society. School McMaster University; Course Title COMMERCE 1E03; Type. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. 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. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. D. varies from industry to industry. Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? integrity-based ethics Your boss has prepared some questions for you to consider. 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. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. This indicates that: A. dancing around issues should be part of a firm's code of ethics. Research has shown that companies engaged in corporate social responsibility (CSR): B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and separating themselves from suppliers who violate. integrity-based ethics Multiple choice question. Explanation (C) likely to perform worse financially customers Maria Juarez is a professional tennis player, and your firm manages her money. 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? standards. D. buying the company's products. These actions are general guiding values A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. \text{ } & \text{Per Unit} & \text{Total}\\ insider trading. socially conscious research organizations. 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) ? It is actually a structure of moral principles and code of conduct applicable to a business. for the welfare of society as a whole, about being fair and honest with their stakeholders