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called stakeholder interest (C) gains for investors in 2008 and 2009 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. benevolence can lead to a vote of no confidence by company stakeholders. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? it reduces laws and regulations B. Horn blower A. guilt payments. aggregate independent appraisal. If an ethical tone is set at the top and followed by management, everyone who works there will hold themselves and each other to those standards. Business ethics isnt always exalted in every workplace, but its critically important when it comes to providing customers with quality service, adhering to regulatory compliance standards, and avoiding steep fines and lawsuits. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. C. teamwork eliminates a need for personal ethics. C. Operational initiatives Multiple Choice Ethics in the workplace: the ethical manager | HRZone Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? B. maintaining proper accounting procedures. acquisition stalking. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. [A] relate well to employees at all levels [D] Political risk taking. because strict global regulations require it, learned by observing the actions of others in the organization. Dodd-Frank Wall Street Reform and Consumer Protection Act. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. Management ethics can factor into issues including coworker interactions, conflicts of interest, customer safety, honest advertising, customer information security and the responsible use of corporate resources. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility CSR can lead to even more profits. Which of the following is a reason why a business should be managed ethically? Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. D. Outsourcing practices Multiple choice 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. 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. [C] it reduces the likelihood of lawsuits by employees or customers CSR can lead to even more profits. B. a failure of leadership to establish ethical standards. [D] To avoid lawsuits, Effective ethics officers: Explanation 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. information technology D. stockholders. commitment to maximizing shareholder profits in all decisions, Insiders, such as employees, who report concerns about a company's accounting or auditing practices are called: 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. Though there are many ethical opinions that most people share, ethics will differ from person to person. 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. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. Startup Costs: How Much Cash Will You Need? Should an instance occur, the result could be devastating to your company's finances and reputation. True social impact program. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. B. 1. 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. Businesses can show their CSR in many ways. A. Ethical Marketing - Marketing Schools It is a set of guidelines for dealing with various procedures ethically. B. philanthropy. This indicates that: A. dancing around issues should be part of a firm's code of ethics. Multiple select question. A Understanding that individual moral standards, the influence of managers and coworkers, and However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. D. help investors recoup their losses. [D] They may choose to cancel orders when there are environmental abuses. Multiple select question. [A] it reduces employee turnover E. law. Society Prepare computations showing how much profits will increase or decrease as a result of making the starters. government-supported direct mail campaigns Customers A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . 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? All successful businesses communicate effectively. An important reason for a company to maintain its ethical reputation is The purpose of a code of ethics is to guide employees in handling ethical dilemmas. additional taxes [B] reaches broad and diverse groups compliance police. I'm a Product Manager with experience working cross-functionally with business roles (e.g. Stresses shared accountability Multiple select questions. Why You Need to Create a Fantastic Workplace Culture, 10 Employee Recruitment Strategies for Success, Best Accounting Software and Invoice Generators of 2023, Best Call Centers and Answering Services for Businesses for 2023. In "Two Kinds," how does the narrator feel after the talent show? Managing data ethics | Deloitte Insights Sherman Act [D] severe financial crises. 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. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: In running a successful business, a key factor in that success will be the ethical and moral standards of yourself, your leaders, and your entire team. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . This is called a bounty provision because as stated, they may receive a monetary award for their actions. This, then, creates greater stability within the company.. What does the research into business ethics say? C. Research practices B. helping others Financial transparency internal search and occupy organizations. Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by Compliance-based ethics codes focus on: C. the increase in lawsuits used to avoid personal responsibility. When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. Which step is the most critical to help improve business ethics? D. Outsiders must be told about the ethics program. B. because strict global regulations require it. 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. SE Oklahoma's MBA Programs Teaches Ethics Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. draw more customers, retain better employees Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; [A] is costly, but worthwhile in reaching specific customers Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. higher ethical standards than in the past. 1. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. To manage these risks and the ethical obligations they imply, CDOs should work on developing institutional practices for continual learning and interaction with external experts. The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. Multiple select question. 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. the federal government D. management is insensitive to ethical issues. Business Ethics - Overview, Examples, Components of Business Ethics Ch 4 Flashcards | Quizlet allows them to reach specific groups more directly. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is Business ethics helps to optimize company resources. <br> I . B. (C) likely to perform worse financially Multiple choice question. [A] Influence peddling Explanation For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. Dont make ethics an afterthought in your company culture. separating themselves from suppliers who violate. Explanation In the study, researchers determined that a higher quality of service positively impacted business operations when ethical adherence was also high. Dodd-Frank Wall Street Reform and Consumer Protection Act Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. However, anyone caught violating a law will be immediately fired." Integrity-based ethics codes Additionally, business ethics can help to build trust between the organization and its stakeholders. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Which of the following is a reason why a business should be managed Resource procurement and consumption practices B. C. moral philosophy. It does not subtract from the bottom line; it adds to it. What Does Ethical Decision Making Mean? Explanation True hiring only women and minorities After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. 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.