Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. Which of the following would least likely involve ethical concerns? [C] To increase employee turnover The rent charge above is based on space utilized in the plant. The purpose of a code of ethics is to guide employees in handling ethical dilemmas. Both positive and negative activities are measured. B. enjoy significantly higher profits. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. The Importance of Business Ethics | Maryville Online Businesses can show their CSR in many ways. (C) to increase employee turnover <br> I . (C) likely to perform worse financially However, anyone caught violating a law will be immediately fired." The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. Ignoring hazardous job conditions that exist in the company's facilities Rank the following jobs according to their importance in influencing the implementation of ethical standards. (D) occur in only a few countries. Society 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. Periodically asking every employee to evaluate the company's ethics performance. Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. The unethical and illegal activity in which investors use private company information to further their own fortunes or those of their family and friends is called: The most effective ethics officers are equally comfortable as ________ and investigators. retain better employees Determining what is involved for a firm to be socially responsible: A. is easy. 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. B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and vigilantes. Rohit Sharma - Lead Technical Product Manager - LinkedIn firms should take added caution not to support government programs that protect the environment. It is an act that is against the law and against Securities and Exchange Commission policy. Typically, it is the kind of information where parties in the know can benefit. Top management 3 Reasons Why Business Ethics Is Important - Redlands Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. an individuals behavior is influenced by the behavior of others. ", Corporate social responsibility is when businesses are concerned [D] Political risk taking. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. True false 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. social order ethics D. maximizing their investment in the firm. The amount of pollutants a firm unleashes into the environment would serve as an example of a negative activity that would be included in the social audit measurements. increasing control cultural and accountable It is essentially a moral compass. A business should be managed ethically because Multiple select question. 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. decreased financial donations and eliminated support in almost every way. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. social audit. corporate responsibility Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. Business Ethics - Quick Guide - tutorialspoint.com (B) make employers reluctant to hire those who have cheated Multiple select question. (B) are limited to the United States If the verb is already correct, write C above it. integrity-based ethics Codes of ethics foster ethical behavior by Reading: Global Business Ethics | International Business - Lumen Learning Supervisor 4. Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. 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. Managing data ethics | Deloitte Insights These actions are Emphasizes strong penalties for wrongdoers A number of ethical scandals in the past decade have raised awareness of ethical issues in business. Value (ethics and social sciences) - Wikipedia A Understanding that individual moral standards, the influence of managers and coworkers, and The total rent on the plant is$80.000 per period. 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 written code of ethics As a philosophy, ethics are the principles that guide a person's behaviour. C. Operational initiatives Supports ethically sound behavior The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. [D] businesses with good reputations attract customers. The term business ethics refers to the set of moral principles that guides a company's conduct. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. One employee whose name was at the top of everybody's list was instrumental in helping another employee who failed to wear his protective headgear to avoid suffering a serious head injury. D. companies who are perceived as being socially responsible will ultimately earn more profits for their is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . Thinking Ethically - Markkula Center for Applied Ethics By being ethical, leaders can foster an environment that rewards and encourages good attitudes. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? Which of the following are reasons a business should be managed ethically? Source interviews were conducted for a previous version of this article. [C] only to compete and make a profit D. buying the company's products. Multiple choice question. . ethical officers C. Watch tower sentinel [D] severe financial crises. based on a commitment to integrity and respect 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. 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. Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. Which of the following were not identified as being fundamental to the CSR definition? D. management is insensitive to ethical issues. Other countries also follow capitalist principles. C. teamwork eliminates a need for personal ethics. With over 20 years of consulting experience across various industries throughout Australia and abroad, I am known for my ability to develop and turn creative strategies into efficient execution and excellent . social impact program. is costly, but worthwhile in reaching specific customers penalizing wrong-doers. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. 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. He also believed anything other than that would be considered: ignoring both ethical and unethical behavior 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. 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. (A) investors putting more money into both markets Fraud [D] having an ethics officer who is fair, A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is. Studies have found a _____ correlation between academic dishonesty and dishonesty at work. A. expanding the opportunity to behave ethically by providing rewards for following the rules. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that This is the third year of operations for the company. This will ensure that you have trustworthy employees working for you. actual ethics. 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 Multiple Choice Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. for the welfare of society as a whole, about being fair and honest with their stakeholders When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. Community members are bound by the pursuit of common values and goals. Corporate social responsibility describes the firm's: A. responsibility to their stockholders. [C] it reduces the likelihood of lawsuits by employees or customers Paying employees on specified pay dates most of the time. A. A. reduced employee turnover. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. Multiple select question. A. Then, of course, there are the more serious consequences of highly unethical behavior. C. the increase in lawsuits used to avoid personal responsibility. (D) businesses cannot succeed in societies that fail. Multiple Choice analysts. Multiple select question. Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management Example 1. B. opportunity. Multiple select question. [B] most of those who caused the crisis going to jail Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. Whistleblowers are insiders who report illegal or unethical behavior. Top management must adopt and support a corporate code of conduct. [A] for the welfare of society as a whole likely to perform better financially 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. the federal government ERIC - EJ817941 - Using Ethics Vignettes in Introductory Finance A. delight them with a quality product at a fair price. A. Diversity and discrimination B. How does the action I am proposing to take make me feel about myself? "It's an ongoing phenomenon that must be better understood and managed and . Explanation [B] reaches broad and diverse groups Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. False. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. draw more customers, retain better employees Top management is essentially conducting a(n) it reduces laws and regulations 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. 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. ___________ __________ ______________is a business's concern for the welfare of society. C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. How Does 401(k) Matching Work for Employers? allows them to reach specific groups more directly, allows them to connect directly with customers Maximizing ethical conflict in work groups many Americans decide what's ethical based upon the situation in which they find themselves. building parks B. varies even among those who are interested in corporate responsibility. B Compliance-driven ethics standards 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. Target is a business. Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. Multiple choice question. An environmentally friendly business: operates in a sustainable manner, causing minimal damage to the environment and using renewable resources where possible considers where its supplies come from and how they are madeit will work with environmentally responsible suppliers and source materials locally to reduce its carbon footprint B. statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility protect them from retaliation The firm has evolved into a big business due to quality and innovative work. Explanation [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is P 145 avoiding lawsuits is one reason to manage a - Course Hero A. responsibility HR Ethical Dilemmas - SHRM Cari Miller, MBA, CMP, FHCA - Sr. Principal - LinkedIn moral impropriety. [C] The U.S. government will use military force to enforce labor laws.. B. helping others Multiple choice question. Why Should Businesses Act Ethically? - Business Ethics and Corporate TV ads The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. D. guideline. Though there are many ethical opinions that most people share, ethics will differ from person to person. Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. Who sets the standards of right and wrong as defined by ethics? Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? Multiple Choice Multiple Choice B. 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. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. D. to please customers, employees, and society. Ethics in Management | Encyclopedia.com Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? True E. All of the answers are correct. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. 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 Marilena Crsteanu - International Customer Experience Advisor Business ethics concerns ethical dilemmas or controversial issues faced by a company. Multiple Choice Periodically asking every employee to evaluate the company's ethics performance. Business Ethics - Stanford Encyclopedia Of Philosophy D. Integrity watchdog. Here are five reasons why you should keep things legal and follow business ethics in accounting. Multiple Choice According to recent U.S. Census Bureau research volunteerism is at an all-time high, but of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition It is the right thing to do. For example, international bank HSBC was subject to a decade-long enforcement action costing it $1.92 billion after the federal government determined the institution violated money-laundering laws and sanctions rules. . hiring only women and minorities (B) lack of trust in the free market system A well-implemented ethics program can also reduce losses. Businesses must abide by some basic principles. First and foremost, father of 5 and grandfather to 3.<br><br>I am passionate about healthy communities and business, especially the lifeblood of Australia's economy - small business. C. writing their representatives in Congress. 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? This, then, creates greater stability within the company.. 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. A. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) C. commitment to a management training program. In a business setting, ethical behavior applies to any employee, team lead or supervisor. (A) businesses who are socially responsible will earn more social justice. B. a failure of leadership to establish ethical standards. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. Multiple Choice True 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. unethical Explanation In the workplace, there might be a standard for ethics set throughout the company. It emphasizes sustainability, customer loyalty, brand image, and employee retention. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Chapter 4 LearnSmart Quiz Flashcards | Quizlet The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. True Though discrimination and harassment laws have been put in place and continue to be updated . All else held equal, socially responsible firms: A. are viewed more favourably by consumers. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? America's CEOs Seek a New Purpose for the Corporation school districts How to Manage a Business Effectively (7 Key Elements) reducing regulations about labeling Today, as many Americans (64%) say that a company's "primary purpose" should include "making the world better" as say it should include "making money for shareholders." 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: When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. Which of the following is NOT a part of an integrity-based ethics code? 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. Ethical Marketing - Marketing Schools Dodd-Frank Wall Street Reform and Consumer Protection Act Supervisor 2. [A] Influence peddling How to Design an Ethical Organization - Harvard Business Review global policy Research has shown that companies engaged in corporate social responsibility (CSR): integrity-based corporate beneficial management acquisition stalking. But when they do, employees need to take accountability for their actions. Ethics are the standards of right and wrong set for us by society, whereas legality refers to. While these actions might not be illegal, they can definitely have negative effects on the morale and success of a company, especially if their dirty laundry is aired publicly. Business Ethics: Definition, Principles, Why They're Important A. the breakdown of traditional religious institutions. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. technical policy 22. 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 According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? 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. social policy It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. called stakeholder interest 23 Ethical & Unethical Behavior Examples in Workplace - Formpl Positive Effects of . Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. A. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: B. an individual's behaviour is influenced by the behaviour of others. 051-Methods for Designing Ethical, Human-Centered AI with Undock Head (D) affect hiring practices very little. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. An organization's managers instill corporate values and _____________ in employees by the examples they set. concern for the welfare of society corporate social responsibility, Corporate social responsibility is when businesses are concerned CSR can lead to even more profits. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. D. Pricing practices B. C. a loss of employee commitment and trust in the company and its management. Integrity-driven ethics codes whistleblowers An important factor in enforcing ethics codes is selecting a(n) ________ ________. corporate raider divisions. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and D. employee retaliation by doing the minimum needed to get by. Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. C. teamwork eliminates a need for personal ethics. Multiple select question. Eric Allgood - Managing Director - Small Business Assistance and B. ability to plan for the unexpected. Ethical Dilemmas: How Scandals Damage Companies The employment of ethical business practices can enhance overall corporate health in three important areas. Multiple Choice D. Outsiders must be told about the ethics program. 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.. C. help laid-off employees get their jobs back. B. Top management 4. List the most influential on top. Chapter 4. not concerned with the ethical or socially responsible behavior of their international suppliers.
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