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? Prepare computations showing how much profits will increase or decrease as a result of making the starters. True false question. 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. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. True A business should be managed ethically because, businesses with good reputations attract customers. [C] To increase employee turnover D. Improved awareness of the relevant laws. opportunity influence ethical behavior only to compete and make a profit _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. 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. Multiple choice question. America's CEOs Seek a New Purpose for the Corporation [A] Influence peddling social initiatives A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. 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. All successful businesses communicate effectively. C. Investor relations additional taxes (D) long jail terms for those who acted unethically. To allow whistleblowers to come forward with information organizations should Motivation. Multiple select question. ignoring both ethical and unethical behavior Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. 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. retaliation Which of the following represent examples of how corporations set positive standards of ethical behavior? B. enjoy significantly higher profits. Ignoring hazardous job conditions that exist in the company's facilities False. increasing the diversity of their workforce Top management Compliance-based ethics codes social impact program. Why Business Should Be Managed Ethically - Liveboardroom.info Multiple Choice 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: Depreciation is due to obsolescence rather then wear and tear. [D] favor management in their investigations, A communication tool many companies use to inform diverse groups of their social responsibility efforts at little cost is. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. Explanation Multiple choice question. C. writing their representatives in Congress. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ U.S. law does not require U.S. firms to comply because of competitive advantage concerns. clarifying what green means 8 Current Ethical Issues in Business (and How to Manage Them) insider trading. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. Multiple Choice [D] To avoid lawsuits, Effective ethics officers: Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. (A) matter very little to employers Corporate philanthropy Reading: Global Business Ethics | International Business - Lumen Learning The World Trade Organization (WTO) 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. The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. Multiple choice question. This includes managers and subordinates, peers and clients. An ethical business will get your employees to respect your company . shareholders True false question. 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. 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. 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. And could be pivotal for career growth. 2. False, Whistleblowers can be helped by protecting them from: whistleblowers But when they do, employees need to take accountability for their actions. 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. The employees of a corporation are stakeholders who are affected by management practices. hiring only women and minorities Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Paying employees on specified pay dates most of the time. Supervisor 4. 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. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. fascism . A. delight them with a quality product at a fair price. not concerned with the ethical or socially responsible behavior of their international suppliers. higher ethical standards than in the past. Often, business ethics involve a system of practices and procedures that help build trust with the. D. varies from industry to industry. 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. 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) ? B. disgruntled workers manipulating budgets and expenses. 3 Reasons Why Business Ethics Is Important - Redlands \end{array} using recyclable packaging C. diversity The employment of ethical business practices can enhance overall corporate health in three important areas. 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. A business should be managed ethically because Multiple select question. Explanation corporate raider divisions. providing safety equipment and training for their workers, increasing the diversity of their workforce \text{ } & \text{Per Unit} & \text{Total}\\ Article. a written code of ethics The findings reveal that quality service and an ethical business plan are essential to long-term business success. B. ability to plan for the unexpected. [B] passing laws to make accounting records more transparent Multinational corporations are committed to operating within the legal limits of U.S. law. D. shift the production of goods to foreign facilities and layoff Canadian workers. An important reason for a company to maintain its ethical reputation is The main principles of business ethics are based in academia and on academic writings on proper business operations. about being fair and honest with their stakeholders 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? B. moral impropriety. Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. 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? Putting Ethical Design into Practice. (A) 3 out of 4 citizens do not give any time to the communities in which they live Study 19 Terms | Philosophy Flashcards | Quizlet (B) make employers reluctant to hire those who have cheated Therefore, it is the most significant resource to run or upgrade any business. A. (C) occur in many countries C. An ethics office must be set up. separating themselves from suppliers who violate. Religious institutions, Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? On the line provided after the sentence, write the possessive form of the underlined words. This is an example of corporate: A. expanding the opportunity to behave ethically by providing rewards for following the rules. [B] most of those who caused the crisis going to jail <br> I believe AI should be built responsibly and produce ethical outcomes. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. Whistleblowers are often concerned about retaliation. 360-review. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". E. law. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. Defines an organization's guiding principles. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. A. you need to justify socially responsible behaviour from an investors standpoint only. Explanation can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. lose sales revenues likely to perform better financially Multiple choice question. D. structure and strategy. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. I'm a Product Manager with experience working cross-functionally with business roles (e.g. Multiple choice question. E. all of the answers are correct. B. D. management is insensitive to ethical issues. internal investigation. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. C. Operational initiatives Which of the following statements is false? C. teamwork eliminates a need for personal ethics. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Customer privacy policies and practices Workplace and colleague wellbeing. Ethical problems such as influence peddling and bribery: A. code of ethics. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. capitalism C. moral philosophy. Resource procurement and consumption practices [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is [A] To attract customers True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. 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. Multiple choice question. allows them to reach specific groups more directly. A. (C) attract and retain better employees the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. It does not subtract from the bottom line; it adds to it. 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. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. based on a commitment to integrity and respect True [B] it increases the likelihood of government intervention Corporate social responsibility describes the firm's: A. responsibility to their stockholders. Personal projects Multiple choice question. He also believed anything other than that would be considered: pro-current procurement. Which of the following were not identified as being fundamental to the CSR definition? free from the concern of This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? "It's an ongoing phenomenon that must be better understood and managed and . Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. Which of the following are true regarding ethical behavior? E. A criminal lawsuit. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. Increased control over employee actions. Multiple Choice Eric Allgood - Managing Director - Small Business Assistance and an individuals behavior is influenced by the behavior of others. The deliberative system leads to more-ethical behaviors. This, then, creates greater stability within the company.. An important reason for a company to maintain its ethical reputation is 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} The authors start from the assumption that most people wish to behave ethically. These examples of ethical behaviors ensures maximum productivity output at work. 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 . [C] making businesspeople more accountable for their actions ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. The Importance of Business Ethics | Maryville Online The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. 1. The purpose of a code of ethics is to guide employees in handling ethical dilemmas. When management considers ethics in its actions toward stakeholders, employees can be positively affected. CSR can lead to even more profits. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Explanation B. 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. China is a communist country. D. Outsourcing practices it attracts and retains customers When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. [A] relate well to employees at all levels social media. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. (D) affect hiring practices very little. penalizing wrong-doers, increasing control cultural and accountable E. filing complaints with the company. Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. Many companies believe they have a role in promoting ______________ ___________________ , so they donate to local food banks, promote literacy, and provide computer lessons for inner city children. 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. How to Manage a Business Effectively (7 Key Elements) [D] allows them to connect directly with customers.

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