(D) affect hiring practices very little. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . Multiple choice question. Serves as full-time, tenure tracked Business Instructor for the college's Bachelor of Applied Science in Organizational Management (BAS-OM) program, teaching classroom, hybrid, and online courses. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility Paying employees on specified pay dates most of the time. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. During the last recession monetary contributions decreased and companies found ways to continue their philanthropic participation by asking employees to donate time to corporate social initiatives and other projects. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility By being ethical, leaders can foster an environment that rewards and encourages good attitudes. Think about a business that hires only family or one that gives inappropriate incentives, for example. (B) it is using investors' money in ways they did not intend Startup Costs: How Much Cash Will You Need? Which of the following is NOT a part of an integrity-based ethics code? D. structure and strategy. D. Pricing practices B. maintaining proper accounting procedures. The employees of a corporation are stakeholders who are affected by management practices. <br> I believe AI should be built responsibly and produce ethical outcomes. On the line provided after the sentence, write the possessive form of the underlined words. These actions are [B] share all information with managers when requested stockholders \text{Variable manufacturing overhead} & \text{0.60}\\ Multiple Choice Full-time co-workers 3. 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. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Corporate social responsibility describes the firm's: A. responsibility to their stockholders. If an underlined word is already in the correct possessive form, write a C on the line. corporate responsibility Then, of course, there are the more serious consequences of highly unethical behavior. True false question. 1. Many companies When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. 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. 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. Which of the following are true regarding ethical behavior? For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. CSR can lead to even more profits. D. guideline. Ethical behavior includes honesty, fairness, integrity and understanding. Maria Juarez is a professional tennis player, and your firm manages her money. B. the police in jurisdictions where the business has operations. Top management According to recent U.S. Census Bureau research volunteerism is at an all-time high, but False. building parks Sarbanes-Oxley Ruling ", Corporate social responsibility is when businesses are concerned likely to perform better financially Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. D. stockholders. That person called five of his relatives and several friends. [B] passing laws to make accounting records more transparent allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: C. Operational initiatives varies among those who are interested in corporate responsibility. C. teamwork eliminates a need for personal ethics. A. Overstating an expense report. The field of ethics is a branch of philosophy that seeks virtue and morality, addressing questions about "right" and "wrong" behavior for people in a variety of settings; the standards of behavior that tell how human beings ought to act. After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. create an open-door policy, protect them from retaliation Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. Explanation A Understanding that individual moral standards, the influence of managers and coworkers, and socially conscious research organizations. Multiple select question. reducing regulations about labeling It does not subtract from the bottom line; it adds to it. D. integrity. \end{array} asking suppliers to lower their standards to be in compliance with Supervisor 2. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. A business starts with the correct usage and allocation of finances and cost management. 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. Multiple Choice HR professionals sometimes face ethical or moral dilemmas. This is especially so when the market is very competitive, because then the customers have a lot of options and could switch to another product or service provider.. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. But when they do, employees need to take accountability for their actions. [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. According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. [A] making the charges public before the investigation Top management must adopt and support a corporate code of conduct. Heres How to Fix It, 10 Common Leadership Mistakes Youre Probably Making, Creating a Diversity and Inclusion Training Program, How to Be an Ethical Leader: 10 Tips for Success, Disrespectful Employees? Multiple choice question. Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. However, it was disclosed that somehow a member of Paulie's management team mentioned the deal to a person he sat next to on a flight from LA to Seattle. Are Workplace Politics Destroying Your Business? Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. compliance-based ethics Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. The total rent on the plant is$80.000 per period. ethical officers reducing most costs actual ethics. (B) have higher turnover In turn, employees will trust that their leadership team is working toward the greater good of the entire company. A. protecting the owners' rights and investments. The deliberative system leads to more-ethical behaviors. It is the right thing to do. (nervous). based on a commitment to integrity and respect internal search and occupy organizations. D. varies from industry to industry. 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. B. an individual's behavior is influenced by the behavior of others. setting a good example. 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. What kind of person do you think Paulsen is? corporate policy the collection of laws to protect society from fraud, theft, and violence. Multiple select question. 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. Multiple choice question. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. It could also mention specific protocol within the business. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". that only society's health is improved when they invest in companies whose goods and services benefit the community Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that E. all of the answers are correct. 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. Ethical issues are limited to for-profit organizations. Who sets the standards of right and wrong as defined by ethics? The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. Marketing, Finance, Sales), technical roles (e.g. Supervisor (C) 4 out 5 citizens volunteer an hour each week An ethically managed business helps to reduce employee turnover. analysts. Ethical standards are different from country to country. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? C. writing their representatives in Congress. Multiple Choice Tejas Vemparala also contributed to this article. The side effects are so great that the society urges that the business should always be ethically and socially responsible. whistleblowers not concerned with the ethical or socially responsible behavior of their international suppliers. Chapter 4. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. secondary market companies. Multiple Choice D. the nation's business schools that tolerate unethical behaviour in students. because strict global regulations require it, learned by observing the actions of others in the organization. When Paulsen describes Storm, he also gives clues about his own personality. Target is a business. 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. Compliance-based ethics codes focus on: acquisition stalking. This is called a bounty provision because as stated, they may receive a monetary award for their actions. 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? Governments punishing unethical behavior and rewarding ethical behavior privately Ethical behavior does not matter to investors. They need to take responsibility for what happened and be proactive in fixing it. E. filing complaints with the company. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. Ethics may seem like an intangible, but there is a clear connection to overall performance. Those who have others interests in mind when they make decisions are displaying ethical behavior. B. helping others C. Increased penalties for code violators. D. Improved awareness of the relevant laws. When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. D. Outsiders must be told about the ethics program. How are these two rates measured? 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. They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. It seeks to promote honesty, fairness, and responsibility in all advertising. Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. only to compete and make a profit A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. [A] outsourcing enforcement of the laws to private firms 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. Whistleblowers are insiders who report illegal or unethical behavior. 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. E. Employee benefit programs. firms should take added caution not to support government programs that protect the environment. C. help laid-off employees get their jobs back. draw more customers, retain better employees Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. Organizational ethics begins Multiple Choice at the top levels of management. higher ethical standards than in the past. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Often, business ethics involve a system of practices and procedures that help build trust with the. Notes. A. the breakdown of traditional religious institutions. ignoring both ethical and unethical behavior To attract customers To avoid lawsuits To maintain a good reputation Making decisions that we know are different from what is right erodes our self-esteem. Business ethics helps to optimize company resources. [C] can be trusted to maintain confidentiality social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? She has asked you to give her information about what determines the level of various interest rates. retaliation Which of the following are examples of outside stakeholders that must be told about a company's ethics program? A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. increasing control C. Research practices Codes of ethics foster ethical behavior by The World Trade Organization (WTO) E. All of the answers are correct. \text{Total production cost} & \text{\$ 9.20}\\ allow for complete anonymity 22. Compliance-based ethics codes Displaying good ethical behavior can boost company morale and client relations. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. [A] To attract customers The second major meaning behind the term is . B. philanthropy Which of the following are reasons a business should be managed ethically? Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. D. expanding the opportunity to behave ethically by providing punishments for following the rules. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. Vanessa recognizes this as a(n) ________-based code of ethics. C. to attract new customers and retain existing customers. Though there are many ethical opinions that most people share, ethics will differ from person to person. Internal Audit Company Protection Act corporate social initiative tax officials. ___________ __________ ______________is a business's concern for the welfare of society. "It's an ongoing phenomenon that must be better understood and managed and . D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. A. Diversity and discrimination B. is costly, but worthwhile in reaching specific customers It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. going to save money by not hiring those who are disabled They should display behavior that is honest and fair in their relationships with co-workers and their. [C] only to compete and make a profit To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. (D) make more money for investors in the short run. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. (C) likely to perform worse financially The purpose of a code of ethics is to guide employees in handling ethical dilemmas. [A] for the welfare of society as a whole Emphasizes strong penalties for wrongdoers The You Design, We Build Company makes custom furniture of all kinds. In the workplace, there might be a standard for ethics set throughout the company. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. 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? Which of the following represent examples of how corporations set positive standards of ethical behavior? A high ethical standard extends to customers as well. A. profits. The most basic question in an ethics-based management system is. (C) occur in many countries B. Whistleblowing C. Plagiarism China is a communist country. 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: E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? J. M. D'Aquila, D. F. Bean, and E. G. Procario- Foley (2004) reported that 97% of business leaders perceive American businesses as ethical, versus 24.5% of students. 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. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. C. Investor relations Top leaders from other countries have been charged with bribery. Multiple select question. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? Resource procurement and consumption practices B. reaches broad and diverse groups 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. [B] reaches broad and diverse groups A. Internet It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. Complete each sentence with the comparative or superlative form of the modifier in parentheses. A. delight them with a quality product at a fair price. The moral and ethical standards by which leaders are judged are far stricter than in the past. Multiple choice question. Increased control over employee actions. Multiple Choice Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . Explanation whistleblowers. Multiple Choice D. maximizing their investment in the firm.
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