Ethics in the workplace: the ethical manager | HRZone D. help investors recoup their losses. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. As a philosophy, ethics are the principles that guide a person's behaviour. [A] is costly, but worthwhile in reaching specific customers 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. insider trading. What Are Business Ethics and Why Are They Important? (C) 4 out 5 citizens volunteer an hour each week D. short run profit maximization. Companies 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. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. A. profits. increasing control socially conscious research organizations. information technology Part-time co-workers. 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. firms should take added caution not to support government programs that protect the environment. Tejas Vemparala also contributed to this article. True (B) it is using investors' money in ways they did not intend Socially conscious investors insist that a company extend its own high standards to its ____________________. Ethics are the standards of right and wrong set for us by society, whereas legality refers to. Those who have others interests in mind when they make decisions are displaying ethical behavior. formal and informal. 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. There are a number of reasons why businesses should act ethically: to protect its own interest; to protect the interests of the business community as a whole so that the public will have trust in it; to keep its commitment to society to act ethically; to meet stakeholder expectations; to prevent . 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 Multiple choice question. A. Managing data ethics | Deloitte Insights Multiple choice question. On the flip side, a leader who personifies ethical behavior will be fair in all situations. that they can improve their own financial health by investing in companies whose goods and services benefit the community 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: Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. 1. Which of the following is the BEST reason for a business to be managed ethically? This indicates that: A. dancing around issues should be part of a firm's code of ethics. is costly, but worthwhile in reaching specific customers Sarbanes-Oxley Ruling B. focus on cost and quality control systems within your organization. The benefit of using __________ to communicate a business's CSR efforts to the public is that it allows companies to reach broad and diverse groups directly in a low-cost, efficient way. Ethical Dilemmas: How Scandals Damage Companies Maximizing ethical conflict in work groups general guiding values These examples of ethical behaviors ensures maximum productivity output at work. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. 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 C. Research practices Rank the following jobs according to their importance in influencing the implementation of ethical standards. [A] it reduces employee turnover Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? ", Corporate social responsibility is when businesses are concerned Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. Business ethics helps to optimize company resources. 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. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. shareholders for the welfare of society as a whole, about being fair and honest with their stakeholders D. employee retaliation by doing the minimum needed to get by. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. [C] allows them to reach specific groups more directly [C] To increase employee turnover \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ capitalism B. philanthropy How can. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. The Importance of Business Ethics | Maryville Online Synonym Discussion of Ethical. Here are five reasons why you should keep things legal and follow business ethics in accounting. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. standards. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. <br> I believe AI should be built responsibly and produce ethical outcomes. employees and internal public relations protect them from retaliation The last recession changed the way many companies offer support to people and communities in need. Multiple Choice 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. Think about a business that hires only family or one that gives inappropriate incentives, for example. Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. Explanation Multiple Choice Corporate social responsibility is based on a A. Which of the following statements about business ethics is false? [C] lack of trust in the free market system That person called five of his relatives and several friends. Multiple Choice 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) ? based on a commitment to integrity and respect A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . Often, business ethics involve a system of practices and procedures that help build trust with the. It is the right thing to do. moral impropriety. There are a wide variety of examples of ethical behavior in the workplace. integrity-based ethics A. protecting the owners' rights and investments. C. Operational initiatives It emphasizes sustainability, customer loyalty, brand image, and employee retention. opportunity influence ethical behavior CSR can lead to even more profits. Supports ethically sound behavior can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. varies among those who are interested in corporate responsibility. Ethical behavior positively impacts a businesss financial performance. Maria Juarez is a professional tennis player, and your firm manages her money. reaches broad and diverse groups 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: G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . True Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. B. Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet C. Increased penalties for code violators. social initiatives additional taxes The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. A. B. personal responsibility C. compliance Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) Explanation Business Ethics - A Successful way of conducting business Companies that participate in CSR typically have more loyal employees and customers. Explanation B. J. M. D'Aquila, D. F. Bean, and E. G. Procario- Foley (2004) reported that 97% of business leaders perceive American businesses as ethical, versus 24.5% of students. Which of the following are true regarding ethical behavior? Multiple choice question. Explanation Ethical management generates trust, and trust increases productivity. socialism 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? True false question. Article. U.S. companies tend to overlook and forget human rights abuses abroad. TV ads TRUE There are many reasons why a business should be managed ethically : ( 1 ) to maintain a good reputation , ( 2 ) to keep existing customers , ( 3 ) to attract new customers , ( 4 ) to avoid lawsuits , ( 5 ) to reduce turnover , ( 6 ) to avoid government intervention , ( 7 ) to please customers , employees , and society , and ( 8 ) because it is the right thing to do . 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. Team and business confidence. D. Improved awareness of the relevant laws. Research has shown that companies engaged in corporate social responsibility (CSR): In the long run, CSR enhances profits. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and 5 Reasons Why Ethics Is Important in Accounting for Business 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} promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: In the workplace, there might be a standard for ethics set throughout the company. Though there are many ethical opinions that most people share, ethics will differ from person to person. [B] allowing management to decide the outcomes of investigations leaving unethical behavior unpunished ethical standards that are often unreasonable and cannot be met by most leaders. Which of the following represent examples of how corporations set positive standards of ethical behavior? BUS-112 Chapter 4 - Subjecto.com False. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. B. expressing dissatisfaction by protesting. a clear set of rules and regulations B. human resource support staff Government and business leaders are being held to C. Accounting fraud 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. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: (A) matter very little to employers C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics social audit. 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. The side effects are so great that the society urges that the business should always be ethically and socially responsible. Then, of course, there are the more serious consequences of highly unethical behavior. Taking Advantage of the Advantages: Gifts, Bribes, and Kickbacks (C) attract and retain better employees D. stockholders. With regard to socially responsible behavior, American businesses are D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. Reevaluating its ethics codes based on the input of its customers. [B] it increases the likelihood of government intervention Additionally, business ethics can help to build trust between the organization and its stakeholders. [A] They will bribe local officials to change their policies. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. In a business setting, ethical behavior applies to any employee, team lead or supervisor. higher ethical standards than in the past. plan to maximize profits for shareholders to spend in communities A number of ethical scandals in the past decade have raised awareness of ethical issues in business. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. The deliberative system leads to more-ethical behaviors. A. setting a good example. However, anyone caught violating a law will be immediately fired." D. Outsiders must be told about the ethics program. [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. Marilena Crsteanu - International Customer Experience Advisor A. Whistleblower Multiple Choice [B] Bribery D. structure and strategy. Should an instance occur, the result could be devastating to your company's finances and reputation. A. delight them with a quality product at a fair price. 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. about being fair and honest with their stakeholders A. code of ethics. B. improve corporate profits. Multiple choice question. stockholders 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. How to Design an Ethical Organization - Harvard Business Review Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Multiple Choice the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? How does the action I am proposing to take make me feel about myself? Backend and front-end engineers, data scientists) as well as designers and UX researchers to bring products to life that make our users' problems and pain-points go away!<br><br>As a product manager I have to wear different hats every day and I excel at . 23 Ethical & Unethical Behavior Examples in Workplace - Formpl Multiple choice question. This will ensure that you have trustworthy employees working for you. C. teamwork eliminates a need for personal ethics. The rent charge above is based on space utilized in the plant. Multiple choice question. Which of the following describes charitable donations by corporations to nonprofit organizations? [A] making the charges public before the investigation The most basic question in an ethics-based management system is. A. the breakdown of traditional religious institutions. It does not subtract from the bottom line; it adds to it. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. social impact program. It is a set of guidelines for dealing with various procedures ethically. 2. If the verb is already correct, write C above it. draw more customers, Many investors believe A business should be managed ethically for many This is due to the fact that our ethics are shaped by our moral code. (D) going to lose money by providing pay raises, A business should be managed ethically because 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. An organization's managers instill corporate values and _____________ in employees by the examples they set. B. free from the concern of American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ 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. An important reason for a company to maintain its ethical reputation is Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. Which of the following is a reason why a business should be managed Startup Costs: How Much Cash Will You Need? She has asked you to give her information about what determines the level of various interest rates. the federal government SE Oklahoma's MBA Programs Teaches Ethics acquisition stalking. Economics - Wikipedia Emphasizes strong penalties for wrongdoers clarifying what green means A business should be managed ethically for many reasons to maintain a good. An ethical business will get your employees to respect your company . Business ethics concerns ethical dilemmas or controversial issues faced by a company. (D) long jail terms for those who acted unethically. The majority of CEOs blame unethical employee conduct on: It is essentially a moral compass. \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . because strict global regulations require it Corporate values are: Integrity-driven ethics codes True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. Other countries also follow capitalist principles.