a business should be managed ethically because a business should be managed ethically because

Reevaluating its ethics codes based on the input of its customers. ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Multiple Choice E. all of the answers are correct. Those who have others interests in mind when they make decisions are displaying ethical behavior. Paying employees on specified pay dates most of the time. False. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. 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. shareholders create an open-door policy, protect them from retaliation Economic conditions in some developing countries make child labor a necessity for the survival of families. (D) it reduces laws and regulations, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: Responsible business behavior depends on the responsible behavior of each ______ in the business world. it makes financial as well as moral sense to invest in companies that plan to create a better environment, Companies that try to act in a socially responsible way are likely to focus on such activities as 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 D. buying the company's products. D. Outsourcing practices Which of the following is a reason why a business should be managed ethically? Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. formal and informal. D. short run profit maximization. Think about a business that hires only family or one that gives inappropriate incentives, for example. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: However, anyone caught violating a law will be immediately fired." B. ability to plan for the unexpected. Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. 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. D. Pricing practices help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. D. to please customers, employees, and society. it attracts and retains customers 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. C. An ethics office must be set up. Deceptive advertising of medicines and toys All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. 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. increased their financial donations because they understood how badly society needed a helping hand. B C. helps government officials develop appropriate legislation. Explanation The firm has evolved into a big business due to quality and innovative work. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but C. business exists only to make money for shareholders. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Ethical behavior can have negative consequences to the bottom line in the long run. whistleblowers penalizing wrong-doers, increasing control D. concern for the welfare of society. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Multiple choice question. whistleblowers. The concern businesses have for the welfare of society, not just for their owners is: Suppliers penalizing wrong-doers. Explanation But when they do, employees need to take accountability for their actions. D. help investors recoup their losses. B. philanthropy 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? Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. Global Business Ethics. <br> I . (D) affect hiring practices very little. An ethical business will get your employees to respect your company . In "Two Kinds," how does the narrator feel after the talent show? Its premise is based on integrity, fairness, and respect for others. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: 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: Attracting and retaining better employees is an example of a corporate social responsibility: Unethical behavior in business, especially in the real estate and banking industries, has resulted in the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. E. All of the answers are correct. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that An important reason for a company to maintain its ethical reputation is Complete each sentence with the comparative or superlative form of the modifier in parentheses. Which of the following are reasons a business should be managed ethically? Ethical issues are limited to for-profit organizations. Everyone with whom the business has dealings. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. True false question. Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. corporate inclusion policy 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. . It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Part-time co-worker 3. Explanation Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. Here are five reasons why you should keep things legal and follow business ethics in accounting. E. help restore confidence in Corporate America and Canada. Customers is costly, but worthwhile in reaching specific customers Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. B. being socially responsible is all about being ethical. 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. increasing control (C) occur in many countries 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. higher ethical standards than in the past. 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: E. A criminal lawsuit. Distributors. B. social media 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? 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. B. enjoy significantly higher profits. (A) matter very little to employers only with their responsibility to their shareholders Which of the following should help reduce the incidence of unethical behavior in an organization? 22. A business should be managed ethically because, businesses with good reputations attract customers. Supervisor 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 ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. [B] They may choose to cancel orders when there are human rights abuses. Strategic partnering D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. True American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. 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? 2. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." corporate raider divisions. (D) make more money for investors in the short run. statement by Milton Friedman that maximizing shareholder profits is businesses' only 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. It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. In ethics and social sciences, value denotes the degree of importance of some thing or action, with the aim of determining which actions are best to do or what way is best to live (normative ethics in ethics), or to describe the significance of different actions.Value systems are prospective and prescriptive beliefs; they affect the ethical behavior of a person or are the basis of their . free from the concern of On the line provided after the sentence, write the possessive form of the underlined words. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. A. Ethical behavior includes honesty, fairness, integrity and understanding. 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. A. Organizational ethics begins Multiple Choice at the top levels of management. [A] relate well to employees at all levels moral impropriety. [A] outsourcing enforcement of the laws to private firms The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. Which of the following would least likely involve ethical concerns? (A) businesses who are socially responsible will earn more U.S. law does not require U.S. firms to comply because of competitive advantage concerns. Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. Multiple select questions. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. social audit. Multiple Choice E. law. setting a good example. secondary market companies. A business should be managed ethically for many. Multiple choice question. Tejas Vemparala also contributed to this article. To allow whistleblowers to come forward with information organizations should Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Whistleblowers are often concerned about retaliation. Multiple choice question. Businesses can show their CSR in many ways. Mistakes and misunderstandings are bound to happen in any work setting. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. holding international suppliers to different standards than American companies must adhere to in the United States. C. to attract new customers and retain existing customers. going to lose money by providing pay raises Byron Almen, Dorothy Payne, Stefan Kostka, The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Eric Hinderaker, James A. Henretta, Rebecca Edwards, Robert O. Self, Chapter 18 APUSH The Victorian Era 1880-1917. Top management 4. 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. 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. social impact program. Which of the following statements is false? 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. They should display behavior that is honest and fair in their relationships with co-workers and their. It is a set of guidelines for dealing with various procedures ethically. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. C. teamwork eliminates a need for personal ethics. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. Society According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? 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 (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. using recyclable packaging the federal government A company's effectiveness and financial performance are most affected by responsible _________ _________ management. Startup Costs: How Much Cash Will You Need? Marketing, Finance, Sales), technical roles (e.g. Supervisor 2. increased financial donations to local areas but pulled away from national and global contributions. These actions are opportunity influence ethical behavior He also believed anything other than that would be considered: Top management a clear set of rules and regulations A. Multiple Choice Defines an organization's guiding principles. 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. E. all of the answers are correct. allows them to reach specific groups more directly. In a business setting, ethical behavior applies to any employee, team lead or supervisor. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. (C) likely to perform worse financially E. filing complaints with the company. [D] To avoid lawsuits, Effective ethics officers: A. guilt payments. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. increasing the diversity of their workforce [D] requiring all bankers to sign ethical codes. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ It is the right thing to do. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. B. information technology D. management is insensitive to ethical issues. Strict global regulations require it. 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. C. often experience customer loyalty problems. Multiple choice question. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a 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. capitalism 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. [A] Influence peddling 1. Corporate social responsibility is based on a 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. (D) businesses cannot succeed in societies that fail. C. Research practices \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ Rank the following jobs according to their importance in influencing the implementation of ethical standards. lower ethical standards than in the past. The total rent on the plant is$80.000 per period.