Multiple choice question. Tejas Vemparala also contributed to this article. [D] Political risk taking. China is a communist country. Motivation. Written ethics codes can be categorized as 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(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? Trust and cooperation between workers and managers must be based on which of the following? B. disgruntled workers manipulating budgets and expenses. Dont make ethics an afterthought in your company culture. Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. D. Mayhem government-supported direct mail campaigns Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. Multiple choice question. Chapter 4. internal search and occupy organizations. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. Multiple choice question. \text{Direct labor} & \text{2.70}\\ Which of the following represent examples of how corporations set positive standards of ethical behavior? separating themselves from suppliers who violate. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. These principles govern every aspect of the company's operations, including its interaction with the government and other businesses, its treatment of its employees and its relationship with its customers. [C] it reduces the likelihood of lawsuits by employees or customers A business should be managed ethically for many reasons to maintain a good. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. Integrity-based ethics codes True false question. Prepare computations showing how much profits will increase or decrease as a result of making the starters. (B) it is using investors' money in ways they did not intend Personal projects Multiple choice question. D. Improved awareness of the relevant laws. 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. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. C. to attract new customers and retain existing customers. Multiple select question. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. \text{Total production cost} & \text{\$ 9.20}\\ Explanation Business ethics helps to optimize company resources. Which of the following would be a unique focus of an integrity-based ethics code? 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. It does not subtract from the bottom line; it adds to it. D. fail to earn sufficient profits for their owners. A. B. being socially responsible is all about being ethical. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ fascism This sort of behavior is not limited to the workplace; it can be present in every facet of life. Organizational ethics begins Multiple Choice at the top levels of management. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: (C) gains for investors in 2008 and 2009 How can. B. an individual's behavior is influenced by the behavior of others. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. 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. Emphasizes strong penalties for wrongdoers Sarbanes-Oxley Ruling is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . Periodically asking every employee to evaluate the company's ethics performance. opportunity influence ethical behavior communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: 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. How does the action I am proposing to take make me feel about myself? B. maintaining proper accounting procedures. 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. [A] making the charges public before the investigation Multiple choice question. Executives at Enron and Tyco were found guilty ____________ of behavior that damaged their companies' reputations, The emergence of the green movement has affected businesses by. C. Investor relations Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. 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. Multiple choice question. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. The employees of a corporation are stakeholders who are affected by management practices. The You Design, We Build Company makes custom furniture of all kinds. C. help laid-off employees get their jobs back. (D) affect hiring practices very little. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Corporate social responsibility is based on a Corporate responsibility An important reason for a company to maintain its ethical reputation is 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. E. A criminal lawsuit. For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. ", Corporate social responsibility is when businesses are concerned He also believed anything other than that would be considered: D. employee retaliation by doing the minimum needed to get by. 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. allows them to connect directly with customers Displaying good ethical behavior can boost company morale and client relations. True B. personal responsibility C. compliance The term business ethics refers to the set of moral principles that guides a company's conduct. Article. B. a failure of leadership to establish ethical standards. Ethical problems such as influence peddling and bribery: Multiple choice question. <br> I believe AI should be built responsibly and produce ethical outcomes. E. Employee benefit programs. (C) attract and retain better employees Multiple choice question. True Which of the following is NOT a part of an integrity-based ethics code? C. Operational initiatives Corporate social responsibility describes the firm's: A. responsibility to their stockholders. [A] few losses to investors 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. whistleblowers. Which of the following are true regarding ethical behavior? Shared accountability among employees. A. protecting the owners' rights and investments. Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. Multiple choice question. Supervisor 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: In the long run, CSR enhances profits. Then, of course, there are the more serious consequences of highly unethical behavior. internal investigation. 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. Business ethics concerns ethical dilemmas or controversial issues faced by a company. \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ D. Outsourcing practices [B] Bribery Due to the fact that it is not yet public, those who act upon the information have an unfair advantage and stand to gain financially. 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.. social order ethics Ignoring hazardous job conditions that exist in the company's facilities The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. B. Codes of ethics foster ethical behavior by InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. Society An organization's managers instill corporate values and _____________________ in employees by the examples they set. Which of the following statements is false? When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. Discrimination and Harassment. 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? C. Research practices C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and The companys vision, values and mission should be clearly stated and visible to both employees and clients so that the company can be held to those standards. The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. social policy cultural and accountable American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. (A) 3 out of 4 citizens do not give any time to the communities in which they live an individuals behavior is influenced by the behavior of others. The deliberative system leads to more-ethical behaviors. Those who have others interests in mind when they make decisions are displaying ethical behavior. whistleblowers. lose sales revenues An important factor in enforcing an ethics code is: What kind of person do you think Paulsen is? to increase employee turnover 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. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. A. expanding the opportunity to behave ethically by providing rewards for following the rules. It could also mention specific protocol within the business. However, anyone caught violating a law will be immediately fired." HR professionals sometimes face ethical or moral dilemmas. Should an instance occur, the result could be devastating to your company's finances and reputation. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? likely to perform better financially How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. 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. corporate beneficial management Multiple choice question. only with their responsibility to their shareholders D. stockholders. Deceptive advertising of medicines and toys True false question. using recyclable packaging 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. The total rent on the plant is$80.000 per period. True B. 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. They should display behavior that is honest and fair in their relationships with co-workers and their clients. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. Target is a business. Jake knew that several other employees followed strict company policy every day and always wore their headgear; yet, they were not being acknowledged for their compliance. based on a commitment to integrity and respect Business Ethics refers to carrying business as per self-acknowledged moral standards. [B] They may choose to cancel orders when there are human rights abuses. Business ethics benefits the bottom line. create an open-door policy, protect them from retaliation human resource support staff If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that In the following sentence, circle the subject of the underlined verb. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. It is actually a structure of moral principles and code of conduct applicable to a business. In the workplace, there might be a standard for ethics set throughout the company. Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by Dodd-Frank Wall Street Reform and Consumer Protection Act (C) 4 out 5 citizens volunteer an hour each week A. Internet higher ethical standards than in the past. going to save money by not hiring those who are disabled Explanation 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. These actions are (A) are just part of doing business According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? Decorating Arrangements has just completed operations for the year ended December 31, 2016. Multiple Choice With respect to business ethics, it can be said that "it takes two to tango." Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. D. to please customers, employees, and society. In a business setting, ethical behavior applies to any employee, team lead or supervisor. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? enjoy greater employee loyalty Vanessa recognizes this as a(n) ________-based code of ethics. A. social media. D. concern for the welfare of society. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? [A] outsourcing enforcement of the laws to private firms stockholders socially conscious research organizations. The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. [D] allows them to connect directly with customers. integrity-based ethics (D) 3 out of 4 citizens volunteer, but cheat on their taxes, Using information from the internet or other sources without giving credit to the author is, The strong relationship between academic dishonesty and dishonesty at work is likely to Maximizing ethical conflict in work groups Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. The ethics code must be enforced. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. [B] most of those who caused the crisis going to jail 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. A well-implemented ethics program can also reduce losses. 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. C. teamwork eliminates a need for personal ethics. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. an individual's ethics corporate social responsibility, Corporate social responsibility is when businesses are concerned This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. B. enjoy significantly higher profits. firms should take added caution not to support government programs that protect the environment. Many companies \end{array} Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. investors. Putting Ethical Design into Practice. To allow whistleblowers to come forward with information organizations should 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. This is due to the fact that our ethics are shaped by our moral code. Multiple choice question. Multiple choice question. Explanation Additionally, business ethics can help to build trust between the organization and its stakeholders. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. All else held equal, socially responsible firms: A. are viewed more favourably by consumers. 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. 1. C. An ethics office must be set up. concern for the welfare of society ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. it attracts and retains customers As a philosophy, ethics are the principles that guide a person's behaviour. integrity-based (A) businesses who are socially responsible will earn more Those who argue in favour of corporate social responsibility suggest that: B. What does the research into business ethics say? False. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. Top management 4. 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. True false question. The purpose of a code of ethics is to guide employees in handling ethical dilemmas. True false question. When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. Responsible business behavior depends on the responsible behavior of each ______ in the business world. CSR can lead to even more profits. Workplace and colleague wellbeing. [B] allowing management to decide the outcomes of investigations C. often experience customer loyalty problems. A Understanding that individual moral standards, the influence of managers and coworkers, and An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. B. helping others Ethics can be rooted in belief or the pursuit of making the world better. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ Strategic partnering about being fair and honest with their stakeholders Which of the following statements about business ethics is false? reaches broad and diverse groups 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. A high ethical standard extends to customers as well. social media Ethical standards are different from country to country. Unethical businesses also lose favor with consumers. It is essentially a moral compass. responsible management of human resources, responsible management of human resources. The moral and ethical standards by which leaders are judged are far stricter than in the past. In fact they contribute to it: 1. Internal auditors An important reason for a company to maintain its ethical reputation is compliance-based ethics Community members are bound by the pursuit of common values and goals. Complete each sentence with the comparative or superlative form of the modifier in parentheses. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. pro-current procurement. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products.