a business should be managed ethically because

offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. (A) businesses who are socially responsible will earn more C. Operational initiatives Multiple select questions. (C) to increase employee turnover ethical standards that are often unreasonable and cannot be met by most leaders. E. All of the answers are correct. 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) ? called stakeholder interest An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. C. teamwork eliminates a need for personal ethics. Team and business confidence. A. 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. B. An important factor in enforcing ethics codes is selecting a(n) ________ ________. False. [B] They may choose to cancel orders when there are human rights abuses. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. general guiding values 2. Which of the following were not identified as being fundamental to the CSR definition? Businesses should create and display their code of ethics publicly. Multiple Choice Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. Dodd-Frank Wall Street Reform and Consumer Protection Act Research has shown that companies engaged in corporate social responsibility (CSR): promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: C. writing their representatives in Congress. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. . (A) have fewer loyal customers but attract more of them going to save money by not hiring those who are disabled the collection of laws to protect society from fraud, theft, and violence. moral impropriety. Explanation B. improve corporate profits. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. B. because strict global regulations require it. This sort of behavior is not limited to the workplace; it can be present in every facet of life. Multiple select question. <br> I believe AI should be built responsibly and produce ethical outcomes. Governments Multiple Choice [B] about being fair and honest with their stakeholders . A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. corporate raiders. using recyclable packaging additional taxes ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. C. Corporate strategy D. Improved awareness of the relevant laws. A Understanding that individual moral standards, the influence of managers and coworkers, and True false question. Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. whistleblowers (D) make more money for investors in the short run. A. reduced employee turnover. (A) 3 out of 4 citizens do not give any time to the communities in which they live (A) investors putting more money into both markets When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. corporate responsibility ignoring both ethical and unethical behavior D. shift the production of goods to foreign facilities and layoff Canadian workers. 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. They define crimes more narrowly than do ethics protect from fraud, theft, and violence, while are used to decide how we treat others responsibly to society's views of right and wrong Ethically Behaving often requires more than obeying the law. What Does Ethical Decision Making Mean? Compliance-based ethics codes focus on: D. fail to earn sufficient profits for their owners. a written code of ethics The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. D. varies from industry to industry. Stresses shared accountability The firm has evolved into a big business due to quality and innovative work. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. 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. Multiple choice question. <br> I . Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. 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. True false question. D. Mayhem Businesses must abide by some basic principles. B. philanthropy. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and These steps included creating a climate based on service quality and ethical behavior that guides employees without direct supervision, taking corrective actions before unethical behaviors occur by periodically measuring employees perceptions of the companys ethical climate, and emphasizing the importance of service quality and ethical behaviors as they relate to competition in the marketplace. [C] Paying U.S. minimum wage _____________________ _____________________ _____________________is a business's concern for the welfare of society. providing safety equipment and training for their workers, 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: In a business setting, ethical behavior applies to any employee, team lead or supervisor. (A) it prevents government audits 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. C. Research practices Which of the following are true regarding ethical behavior? Putting Ethical Design into Practice. A business should be managed ethically because Multiple select question. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. Demanding Ethical and Socially Res, Intro-Into-Business: Ch. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. standards. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Explanation E. A criminal lawsuit. Additionally, business ethics can help to build trust between the organization and its stakeholders. Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. draw more customers, retain better employees Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. Are Workplace Politics Destroying Your Business? A. Whistleblower When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. Business Ethics refers to carrying business as per self-acknowledged moral standards. What are the causes of pay discrimination in the labor market? Increased control over employee actions. (nervous). Distributors. Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. Unethical businesses also lose favor with consumers. C. Research practices All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. 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. 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. Positive Effects of . American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. social audit. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. B. being socially responsible is all about being ethical. 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. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? Here are five reasons why you should keep things legal and follow business ethics in accounting. 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 of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition Multiple choice question. Top management is essentially conducting a(n) An ethically managed business helps to reduce employee turnover. Multiple choice question. only to compete and make a profit After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. 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. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". [A] few losses to investors can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility (D) businesses cannot succeed in societies that fail. Many companies (B) are limited to the United States E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? D. stockholders. create an open-door policy, protect them from retaliation If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: Product safety about being fair and honest with their stakeholders Ethical behavior positively impacts a businesss financial performance. 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. B. varies even among those who are interested in corporate responsibility. providing safety equipment and training for their workers, increasing the diversity of their workforce allows them to reach specific groups more directly. A. Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. [B] Bribery The most basic question in an ethics-based management system is. Corporate social responsibility describes the firm's: A. responsibility to their stockholders. 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. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. [C] making businesspeople more accountable for their actions Integrity-based ethics codes A. the breakdown of traditional religious institutions. The authors start from the assumption that most people wish to behave ethically. higher ethical standards than in the past. Corporate social responsibility is based on a Ethics can be rooted in belief or the pursuit of making the world better. Typically, it is the kind of information where parties in the know can benefit. Compliance-based ethics codes corporate policy Which step is the most critical to help improve business ethics? 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. A company that has socially responsible human resources management is On the flip side, a leader who personifies ethical behavior will be fair in all situations. Multiple Choice Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ B. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. C. business exists only to make money for shareholders. compliance-based ethics socially conscious research organizations. 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. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ (B) going to save money by not hiring those who are disabled Determining what is involved for a firm to be socially responsible: A. is easy. U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. Whistleblowers are insiders who report illegal or unethical behavior. B. enjoy significantly higher profits. Explanation When Paulsen describes Storm, he also gives clues about his own personality. setting a good example. True false question. social media. Ethical behavior has significant upfront costs which may never be recovered. 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. Fraud D. Pricing practices A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. 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 corporate raider divisions. An important reason for a company to maintain its ethical reputation is It is actually a structure of moral principles and code of conduct applicable to a business. 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. [A] They will bribe local officials to change their policies. Think about a business that hires only family or one that gives inappropriate incentives, for example. [D] businesses with good reputations attract customers. free from the concern of False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each.

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