D. Pricing practices C. to attract new customers and retain existing customers. corporate social initiative [D] To avoid lawsuits, Effective ethics officers: C. Increased penalties for code violators. A. Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. Tejas Vemparala also contributed to this article. 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. As a philosophy, ethics are the principles that guide a person's behaviour. Explanation This will ensure the stability of all structural parts, help to form a sense of belonging to one community with the same goals and aspirations. profitable charities List the most influential on top. With respect to business ethics, it can be said that "it takes two to tango." A. Whistleblower By being ethical, leaders can foster an environment that rewards and encourages good attitudes. In fact they contribute to it: 1. stockholders A. B. a failure of leadership to establish ethical standards. 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 . For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. What are the causes of pay discrimination in the labor market? \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ Which of the following would least likely involve ethical concerns? B. expressing dissatisfaction by protesting. Which of the following statements about business ethics is false? There are a wide variety of examples of ethical behavior in the workplace. C. providing all relevant information about current and projected performance of the firm. A business starts with the correct usage and allocation of finances and cost management. Top management Ethical standards are different from country to country. 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. The moral and ethical standards by which leaders are judged are far stricter than in the past. Think about a business that hires only family or one that gives inappropriate incentives, for example. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. C. structure and strategy. Stresses shared accountability Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. the federal government free from the concern of Supervisor Explanation Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. Multiple choice question. U.S. companies tend to overlook and forget human rights abuses abroad. Global Business Ethics. D. Outsiders must be told about the ethics program. A Understanding that individual moral standards, the influence of managers and coworkers, and Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that increased financial donations to local areas but pulled away from national and global contributions. Many companies An organization's managers instill corporate values and _____________ in employees by the examples they set. In the long run, CSR enhances profits. Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. Explanation Community members are bound by the pursuit of common values and goals. (D) make more money for investors in the short run. Sarbanes-Oxley Ruling Decorating Arrangements has just completed operations for the year ended December 31, 2016. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ (C) attract and retain better employees Multiple choice question. A. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. D. to please customers, employees, and society. The employees of a corporation are stakeholders who are affected by management practices. Giving back to society A high ethical standard extends to customers as well. True false question. likely to perform better financially increasing the diversity of their workforce 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. Ignoring hazardous job conditions that exist in the company's facilities Supervisor 2. A. reduced employee turnover. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. B. 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. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". Multiple Choice social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? whistleblowers communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: 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: Displaying good ethical behavior can boost company morale and client relations. 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 social responsibility is when businesses are concerned Top management 4. [B] allowing management to decide the outcomes of investigations A business should be managed ethically because, businesses with good reputations attract customers. A business should be managed ethically for many. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. 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. The motives of those involved in unethical behavior that caused the financial crisis in the real estate, banking, and mortgage industries included: Who sets the standards of right and wrong as defined by ethics? The ethics code must be enforced. E. law. 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. Deceptive advertising of medicines and toys The international Day Of Pe, Chapter 3 Doing Business in a Global Markets, 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, Spring 2018 Final Exam Review Chapters 8,9,10. Though discrimination and harassment laws have been put in place and continue to be updated . Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ Ethical issues are limited to for-profit organizations. Ethical behavior includes honesty, fairness, integrity and understanding. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. All successful businesses communicate effectively. Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. [A] To attract customers List the most influential on top. The employment of ethical business practices can enhance overall corporate health in three important areas. Multiple select question. It is a set of guidelines for dealing with various procedures ethically. only to compete and make a profit U.S. companies follow the lead of consumers, and at this time, there is no evidence of a trend toward concern for better human rights and environmental standards. 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. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. (C) occur in many countries The primary value of using social media to communicate CSR efforts is that it allows companies to reach broad and diverse groups, allows them to connect directly with customers in a low-cost, efficient way, and enables them to interact with specific groups more easily than through more traditional efforts. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ demanding that international suppliers adhere to higher, more costly standards than their American counterparts. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance 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. "It's an ongoing phenomenon that must be better understood and managed and . To allow whistleblowers to come forward with information organizations should Unethical businesses also lose favor with consumers. Demanding Ethical and Socially Res, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Natuurwetenschappen eerste jaar examen trimes. Research has shown that companies engaged in corporate social responsibility (CSR): Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Multiple Choice 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. Strict global regulations require it. government-supported direct mail campaigns They should display behavior that is honest and fair in their relationships with co-workers and their clients. A. based on a commitment to integrity and respect and C. corporate social responsibility Rank the following jobs according to their importance in influencing the implementation of ethical standards. True An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. An ethically managed business helps to reduce employee turnover. Compliance-based ethics codes focus on: Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. The owners of Good Eats Restaurant in St. Louis drove several hours with a van of employees, equipment, and food to donate what they could to help the storm victims. 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? 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. 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. B. [A] it reduces employee turnover A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. Which of the following are true regarding ethical behavior? about being fair and honest with their stakeholders of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition allows them to connect directly with customers Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. TV ads [C] allows them to reach specific groups more directly 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. fascism A business's responsibilities to its owners and investors include A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. In a business setting, ethical behavior applies to any employee, team lead or supervisor.
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