integrity-based ethics C. energy consumption There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ Depreciation is due to obsolescence rather then wear and tear. investors. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: corporate social initiative A business should be managed ethically for many. 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 . Corporate social responsibility is based on a Scandals. global policy This is an example of corporate: Supports ethically sound behavior B. Ethical behavior means your team operates according to fair and transparent standards, not just complying with legal rules or regulatory requirements, but going above and beyond to ensure decisions are applied through an ethical lens. The rent charge above is based on space utilized in the plant. \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ D. management is insensitive to ethical issues. Codes of ethics foster ethical behavior by \text{Direct labor} & \text{2.70}\\ going to save money by not hiring those who are disabled Everyone with whom the business has dealings. Multiple select question. Which of the following is a reason why a business should be managed ethically? internal search and occupy organizations. Displaying good ethical behavior can boost company morale and client relations. Whistleblowers are often concerned about retaliation. All else held equal, socially responsible firms: A. are viewed more favourably by consumers. A. The You Design, We Build Company makes custom furniture of all kinds. Ethical behavior includes honesty, fairness, integrity and understanding. This will ensure that you have trustworthy employees working for you. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. Internal auditors social media 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. C. It is the law in the U.S. D. Employees. 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. [B] allowing management to decide the outcomes of investigations D. maximizing their investment in the firm. using recyclable packaging A business should be managed ethically because, businesses with good reputations attract customers. Startup Costs: How Much Cash Will You Need? likely to perform better financially 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. 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. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. 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. Multinational corporations are committed to operating within the legal limits of U.S. law. 1. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. Chapter 4. Explanation Which of the following should help reduce the incidence of unethical behavior in an organization? insider trading. Which of the following would be a unique focus of an integrity-based ethics code? Emphasizes strong penalties for wrongdoers Sherman Act U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. 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. In the study, researchers determined that a higher quality of service positively impacted business operations when ethical adherence was also high. Ethical behavior can have negative consequences to the bottom line in the long run. A. C. Accounting fraud Source interviews were conducted for a previous version of this article. C. commitment to a management training program. The side effects are so great that the society urges that the business should always be ethically and socially responsible. Amber was observing an example of the ___________ followed at this organization. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." concern for the welfare of society D. Outsiders must be told about the ethics program. Answer (1 of 4): When you manage a business ethically it attracts the right people that can suit your company culture and proficiently fit with your business. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. C. business exists only to make money for shareholders. that only society's health is improved when they invest in companies whose goods and services benefit the community Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. 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 Which of the following describes charitable donations by corporations to nonprofit organizations? Part-time co-worker 3. 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. Which of the following are reasons a business should be managed ethically? D. short run profit maximization. The employees of a corporation are stakeholders who are affected by management practices. 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. Multiple select questions. D. employee retaliation by doing the minimum needed to get by. D. structure and strategy. B. Whistleblowing C. Plagiarism protect them from retaliation How does the action I am proposing to take make me feel about myself? Multiple choice question. increased financial donations to local areas but pulled away from national and global contributions. A. Internet Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? (C) likely to perform worse financially Which of the following are true regarding ethical behavior? Article. (B) are limited to the United States [D] Political risk taking. [A] Influence peddling 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: additional taxes D. Integrity watchdog. [B] passing laws to make accounting records more transparent reaches broad and diverse groups Multiple choice question. free from the concern of 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. corporate responsibility TV ads Whistleblowers are insiders who report illegal or unethical behavior. Multiple choice question. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Increased control over employee actions. C. Research practices penalizing wrong-doers, increasing control Mistakes and misunderstandings are bound to happen in any work setting. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ Think about a business that hires only family or one that gives inappropriate incentives, for example. compliance police. D. guideline. fascism because strict global regulations require it, learned by observing the actions of others in the organization. Explanation Stresses shared accountability Multiple Choice During the last recession monetary contributions decreased and companies found ways to continue their philanthropic participation by asking employees to donate time to corporate social initiatives and other projects. C. Research practices C. Operational initiatives C. the increase in lawsuits used to avoid personal responsibility. Top management must adopt and support a corporate code of conduct. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be This is called a bounty provision because as stated, they may receive a monetary award for their actions. Both positive and negative activities are measured. Workplace and colleague wellbeing. offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. As a philosophy, ethics are the principles that guide a person's behaviour. B. Explanation To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. Multiple select question. Serves as full-time, tenure tracked Business Instructor for the college's Bachelor of Applied Science in Organizational Management (BAS-OM) program, teaching classroom, hybrid, and online courses. benevolence can lead to a vote of no confidence by company stakeholders. E. filing complaints with the company. [A] few losses to investors Explanation (C) occur in many countries Multiple Choice An ethical business will get your employees to respect your company . 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. Multiple Choice draw more customers, retain better employees <br> I believe AI should be built responsibly and produce ethical outcomes. 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. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: The following data have been assembled for the business: InsuranceExpense$2,000SalariesExpense$37,000ServiceRevenue80,000AccountsPayable4,300UtilitiesExpense500OfficeSupplies1,500RentExpense11,000Dividends4,500CommonStock8,500AccountsReceivable7,500Cash7,000Equipment26,600RetainedEarnings,Jan.1,20164,800\begin{array}{lrlr} allows them to reach specific groups more directly, allows them to connect directly with customers Top management 1. The most basic question in an ethics-based management system is. Full-time co-workers 3. All successful businesses communicate effectively. whistleblowers $A supervisor would have to be hired to oversee production of the starters. Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. [B] Bribery higher ethical standards than in the past. Many companies Research has shown that companies engaged in corporate social responsibility (CSR): increasing control Complete each sentence with the comparative or superlative form of the modifier in parentheses. Putting Ethical Design into Practice. Which of the following were not identified as being fundamental to the CSR definition? unethical demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. penalizing wrong-doers. The findings reveal that quality service and an ethical business plan are essential to long-term business success. B. ability to plan for the unexpected. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. \end{matrix} Often, business ethics involve a system of practices and procedures that help build trust with the. Paying employees on specified pay dates most of the time. Multiple select question. employees and internal public relations Businesses can show their CSR in many ways. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. (B) have higher turnover These actions are government-supported direct mail campaigns Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ 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. 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 well-implemented ethics program can also reduce losses. Though discrimination and harassment laws have been put in place and continue to be updated . Dont make ethics an afterthought in your company culture. A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . (A) it prevents government audits Which of the following would least likely involve ethical concerns? going to lose money by providing pay raises __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. 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. D. varies from industry to industry. Multiple select question. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? A company that has socially responsible human resources management is When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: customers 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: C. to attract new customers and retain existing customers. Explanation [D] favor management in their investigations, A communication tool many companies use to inform diverse groups of their social responsibility efforts at little cost is. Ethical behavior has significant upfront costs which may never be recovered. And could be pivotal for career growth. Corporate philanthropy 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 management generates trust, and trust increases productivity. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ True false question. Compliance-based ethics codes Practice deception regarding product safety issues. analysts. [B] share all information with managers when requested Multiple select question. Business ethics benefits the bottom line. an individual's ethics (C) attract and retain better employees Explanation How to Get a Bank Loan for Your Small Business, How to Conduct a Market Analysis for Your Business, Guide to Developing a Training Program for New Employees. A. (C) to increase employee turnover C. often experience customer loyalty problems. E. all of the answers are correct. separating themselves from suppliers who violate Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. An important factor in enforcing an ethics code is: Synonym Discussion of Ethical. C. writing their representatives in Congress. lose sales revenues Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. retaliation [D] requiring all bankers to sign ethical codes. C. practice deception regarding product safety issues. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. for the welfare of society as a whole, about being fair and honest with their stakeholders Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. Compliance-based ethics codes focus on: Full-time co-workers social audit. Multiple Choice An important reason for a company to maintain its ethical reputation is Discrimination and Harassment. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: opportunity influence ethical behavior My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. These examples of ethical behaviors ensures maximum productivity output at work. enjoy greater employee loyalty True ", Corporate social responsibility is when businesses are concerned When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. 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? Multiple select question. leaving unethical behavior unpunished Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? (B) it is using investors' money in ways they did not intend (A) have fewer loyal customers but attract more of them (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: C. An ethics office must be set up. 8 Mini-Case Study, Intro-Into-Business: Ch. B. philanthropy InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. A. code of ethics. Multiple Choice Part-time co-workers. [C] The U.S. government will use military force to enforce labor laws.. Chapter 4. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. [A] is costly, but worthwhile in reaching specific customers ethical officers help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? In a business setting, ethical behavior applies to any employee, team lead or supervisor. [B] reaches broad and diverse groups Top management is essentially conducting a(n) C. Corporate strategy 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. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. 1. A. the breakdown of traditional religious institutions. (A) investors putting more money into both markets Multiple select question. E. help restore confidence in Corporate America and Canada. 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. A. Overstating an expense report. D. Pricing practices The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. Which of the following represent examples of how corporations set positive standards of ethical behavior? False, Whistleblowers can be helped by protecting them from: ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Strategic partnering In the long run, CSR enhances profits. [A] for the welfare of society as a whole Decorating Arrangements has just completed operations for the year ended December 31, 2016. Employees and management alike can work together to create businesses that have high standards. social order ethics socialism D. integrity. social justice. Ignoring hazardous job conditions that exist in the company's facilities 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. 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 Multiple Choice Businesses should create and display their code of ethics publicly. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. C. teamwork eliminates a need for personal ethics. Ethics can be rooted in belief or the pursuit of making the world better. 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. corporate social responsibility, Corporate social responsibility is when businesses are concerned Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. On the line provided after the sentence, write the possessive form of the underlined words. 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. With regard to socially responsible behavior, American businesses are 2. Shared accountability among employees. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. (D) 3 out of 4 citizens volunteer, but cheat on their taxes, Using information from the internet or other sources without giving credit to the author is, The strong relationship between academic dishonesty and dishonesty at work is likely to using recyclable packaging C. a loss of employee commitment and trust in the company and its management. A. Whistleblower It could also mention specific protocol within the business. 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? C. helps government officials develop appropriate legislation. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. The moral and ethical standards by which leaders are judged are far stricter than in the past. 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) ? <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . (B) going to save money by not hiring those who are disabled Tejas Vemparala also contributed to this article. D. to please customers, employees, and society. [A] relate well to employees at all levels called stakeholder interest There are a wide variety of examples of ethical behavior in the workplace. (A) businesses who are socially responsible will earn more List the most influential on top. (D) occur in only a few countries. It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. social impact program. (D) make more money for investors in the short run. A. It is essentially a moral compass. What occurs when an employee exposes an employer's wrongdoing to outsiders? CSR can lead to even more profits. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. [A] They will bribe local officials to change their policies. Supervisor [C] Paying U.S. minimum wage Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. allow for complete anonymity 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. A. profits. 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. Managing Business Ethics takes the view that ethical and unethical conduct are primarily the product of how systems align within an organization to promote certain kinds of behavior. A. expanding the opportunity to behave ethically by providing rewards for following the rules. Multiple select question. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. punishing unethical behavior and rewarding ethical behavior privately Supervisor 2. True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. B. philanthropy. B. an individual's behaviour is influenced by the behaviour of others. How are these two rates measured? It emphasizes sustainability, customer loyalty, brand image, and employee retention. Then, of course, there are the more serious consequences of highly unethical behavior. setting a good example. 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. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. Multiple choice question. Though there are many ethical opinions that most people share, ethics will differ from person to person. \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ B. C. Investor relations Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. Which of the following represent examples of how corporations set positive standards of ethical behavior? demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues.