'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. D. expanding the opportunity to behave ethically by providing punishments for following the rules. 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. Customers They should display behavior that is honest and fair in their relationships with co-workers and their clients. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ 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? corporate inclusion policy help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? Integrity-based ethics codes C. It is the law in the U.S. D. Employees. draw more customers, retain better employees Unethical businesses also lose favor with consumers. (A) it prevents government audits social initiatives 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 term business ethics refers to the set of moral principles that guides a company's conduct. An ethical business will get your employees to respect your company . Internal Audit Company Protection Act penalizing wrong-doers, increasing control The most basic question in an ethics-based management system is. 1. 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. Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. It is a set of guidelines for dealing with various procedures ethically. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. A. C. help laid-off employees get their jobs back. lower ethical standards than in the past. Top management 4. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition False, Whistleblowers can be helped by protecting them from: 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. Governments The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. \text{Direct labor} & \text{2.70}\\ internal search and occupy organizations. separating themselves from suppliers who violate Which of the following statements is false? Trustworthiness. 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. Integrity-based ethics codes Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. 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. The rent charge above is based on space utilized in the plant. 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. Multiple choice question. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? Explanation If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. What occurs when an employee exposes an employer's wrongdoing to outsiders? corporate policy C. helps government officials develop appropriate legislation. general guiding values compliance-based ethics reaches broad and diverse groups The findings reveal that quality service and an ethical business plan are essential to long-term business success. Part-time co-workers. Ethics can be rooted in belief or the pursuit of making the world better. 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) ? 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. The employees of a corporation are stakeholders who are affected by management practices. (C) likely to perform worse financially Multiple select question. opportunity influence ethical behavior This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. These define the company's guiding values, and most often it involves shared accountability. corporate social responsibility, Corporate social responsibility is when businesses are concerned \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ Multiple Choice [A] To attract customers Explanation Society A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . By being ethical, leaders can foster an environment that rewards and encourages good attitudes. 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. If the verb is already correct, write C above 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. the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. Typically, it is the kind of information where parties in the know can benefit. Which of the following are reasons a business should be managed ethically? 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 [D] businesses with good reputations attract customers. D. help investors recoup their losses. D. Outsourcing practices Vanessa recognizes this as a(n) ________-based code of ethics. Employees and management alike can work together to create businesses that have high standards. Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. Ethical problems such as influence peddling and bribery: False. [A] for the welfare of society as a whole Dodd-Frank Wall Street Reform and Consumer Protection Act A. expanding the opportunity to behave ethically by providing rewards for following the rules. B. an individual's behavior is influenced by the behavior of others. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: The majority of CEOs blame unethical employee conduct on: [A] is costly, but worthwhile in reaching specific customers Explanation 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. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. [A] relate well to employees at all levels 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? Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. Distributors. retain better employees enjoy greater employee loyalty 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. True True false question. It may just be the cornerstone of your success. 1. whistleblowers. 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. 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. Codes of ethics foster ethical behavior by Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are (C) to increase employee turnover \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ A. protecting the owners' rights and investments. investors. The last recession changed the way many companies offer support to people and communities in need. This includes managers and subordinates, peers and clients. A. A. Diversity and discrimination B. Think about a business that hires only family or one that gives inappropriate incentives, for example. Economic conditions in some developing countries make child labor a necessity for the survival of families. aggregate independent appraisal. This is an example of corporate: 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. Amber was observing an example of the ___________ followed at this organization. social impact program. She has asked you to give her information about what determines the level of various interest rates. 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 leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . Multinational corporations are committed to operating within the legal limits of U.S. law. Explanation (A) 3 out of 4 citizens do not give any time to the communities in which they live moral impropriety. requiring suppliers to be evaluated monthly concerning Periodically asking every employee to evaluate the company's ethics performance. compliance-based (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: Periodically asking every employee to evaluate the company's ethics performance. It emphasizes sustainability, customer loyalty, brand image, and employee retention. government-supported direct mail campaigns providing safety equipment and training for their workers, increasing the diversity of their workforce Prepare computations showing how much profits will increase or decrease as a result of making the starters. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. A company that has socially responsible human resources management is ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. When there is a base level of respect established, people take criticism less personally, are able to communicate more openly, and can see and value the other persons perspective. employees and internal public relations setting a good example. statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility Ethical behavior does not matter to investors. Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. Explanation Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. Multiple choice question. Compliance-based ethics codes D. concern for the welfare of society. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. Multiple select question. insider trading. In fact they contribute to it: 1. 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. Emphasizes strong penalties for wrongdoers An organization's managers instill corporate values and _____________________ in employees by the examples they set. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? This is due to the fact that our ethics are shaped by our moral code. \end{matrix} Multiple choice question. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". 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.. socially conscious research organizations. Internal auditors E. All of the answers are correct.
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