The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. Vanessa recognizes this as a(n) ________-based code of ethics. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? (D) long jail terms for those who acted unethically. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) This sort of behavior is not limited to the workplace; it can be present in every facet of life. 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. True false question. 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 Strict global regulations require it. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. socialism A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. (B) 3 out of 4 citizens think they should be paid for their volunteer work 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. D. management is insensitive to ethical issues. Top management is essentially conducting a(n) A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. B. [A] relate well to employees at all levels ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. In "Two Kinds," how does the narrator feel after the talent show? True [D] allows them to connect directly with customers. A business should be managed ethically for many. How Does 401(k) Matching Work for Employers? 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. because strict global regulations require it, learned by observing the actions of others in the organization. It emphasizes sustainability, customer loyalty, brand image, and employee retention. whistleblowers corporate social initiative Article. 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. B. ability to plan for the unexpected. decreased financial donations and eliminated support in almost every way. the federal government Why You Need to Create a Fantastic Workplace Culture, 10 Employee Recruitment Strategies for Success, Best Accounting Software and Invoice Generators of 2023, Best Call Centers and Answering Services for Businesses for 2023. Which of the following were not identified as being fundamental to the CSR definition? Dodd-Frank Wall Street Reform and Consumer Protection Act These examples of ethical behaviors ensures maximum productivity output at work. The business term we use to describe this philanthropic action is ___________________, where a company donates what it does best to help make a situation better. corporate social responsibility, Corporate social responsibility is when businesses are concerned A. guilt payments. A. profits. 8 Mini-Case Study, Intro-Into-Business: Ch. Corporate responsibility Discrimination and Harassment. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? that only society's health is improved when they invest in companies whose goods and services benefit the community Multiple choice question. The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. D. Outsiders must be told about the ethics program. Multiple choice question. The World Trade Organization (WTO) Corporate policy refers to the position a firm takes on ______________ and __________________ issues. only to compete and make a profit This is called a bounty provision because as stated, they may receive a monetary award for their actions. Tejas Vemparala also contributed to this article. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? I'm a Product Manager with experience working cross-functionally with business roles (e.g. These actions are increasing the diversity of their workforce Multiple choice 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. Businesses must abide by some basic principles. Though there are many ethical opinions that most people share, ethics will differ from person to person. Businesses can show their CSR in many ways. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. B. the police in jurisdictions where the business has operations. (C) occur in many countries Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. In addition to researching trends, reviewing products and writing articles that help small business owners, Sean runs a content marketing agency that creates high-quality editorial content for both B2B and B2C businesses. It is a set of guidelines for dealing with various procedures ethically. Ethical issues are limited to for-profit organizations. 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. Multiple Choice The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. [A] it reduces employee turnover social media. C. Research practices Internal auditors \text{Direct materials} & \text{\$ 3.10}\\ When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. about being fair and honest with their stakeholders Ignoring hazardous job conditions that exist in the company's facilities According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? Companies Which of the following are reasons a business should be managed ethically? compliance-based ethics Practice deception regarding product safety issues. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. reducing most costs 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. (A) are just part of doing business insider trading. Multiple Choice Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Mistakes and misunderstandings are bound to happen in any work setting. An organization's managers instill corporate values and _____________________ in employees by the examples they set. Dont make ethics an afterthought in your company culture. [A] few losses to investors Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. The deliberative system leads to more-ethical behaviors. Executives at Enron and Tyco were found guilty ____________ of behavior that damaged their companies' reputations, The emergence of the green movement has affected businesses by. One strategy guaranteed to displease your customers is to: B. (A) 3 out of 4 citizens do not give any time to the communities in which they live Positive Effects of . secondary market companies. How does the action I am proposing to take make me feel about myself? [A] To attract customers C. all levels of management. An important factor in enforcing ethics codes is selecting a(n) ________ ________. ethical officers social initiatives 'Business' can mean an activity of exchange. E. all of the answers are correct. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. With respect to business ethics, it can be said that "it takes two to tango." After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. Multiple select question. B. Horn blower Part-time co-worker 3. B. a failure of leadership to establish ethical standards. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? protect them from retaliation Global Business Ethics. 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. B. because strict global regulations require it. And could be pivotal for career growth. integrity-based ethics additional taxes going to lose money by providing pay raises Top leaders from other countries have been charged with bribery. C. structure and strategy. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. CSR can lead to even more profits. The employment of ethical business practices can enhance overall corporate health in three important areas. \text{Direct labor} & \text{2.70}\\ Its premise is based on integrity, fairness, and respect for others. D. Integrity watchdog. (D) going to lose money by providing pay raises, A business should be managed ethically because 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. Which of the following represent examples of how corporations set positive standards of ethical behavior? C. helps government officials develop appropriate legislation. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. Which step is the most critical to help improve business ethics? 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. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. Think about a business that hires only family or one that gives inappropriate incentives, for example. TV ads Top management 4. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. She was even _____ after her solo than before. help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Multiple Choice B. focus on cost and quality control systems within your organization. [B] about being fair and honest with their stakeholders C. It is the law in the U.S. D. Employees. responsible management of human resources, responsible management of human resources. Ethical standards are different from country to country. Community members are bound by the pursuit of common values and goals. Marketing, Finance, Sales), technical roles (e.g. D. help investors recoup their losses. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition 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. create an open-door policy, protect them from retaliation The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. C. teamwork eliminates a need for personal ethics. social audit. Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. A. you need to justify socially responsible behaviour from an investors standpoint only. A business should be managed ethically for many reasons to maintain a good. increased financial donations to local areas but pulled away from national and global contributions. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are Examples of ethical behaviors in the workplace includes; obeying the company's rules, effective communication, taking responsibility, accountability, professionalism, trust and mutual respect for your colleagues at work. Motivation. B. 1. The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. providing safety equipment and training for their workers, increasing the diversity of their workforce Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. Explanation B. philanthropy Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. B. helping others Strategic partnering It's the age-old reality: "Out-of-sight, out-of-mind." That person called five of his relatives and several friends. A. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. Governments Should an instance occur, the result could be devastating to your company's finances and reputation. In fact they contribute to it: 1. general guiding values Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. D. management is insensitive to ethical issues. Example 1. 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. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. allow for complete anonymity Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. 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 . 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 . A. expanding the opportunity to behave ethically by providing rewards for following the rules. 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 (B) are limited to the United States Notes. (B) have higher turnover likely to perform better financially [C] only to compete and make a profit They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. \end{array} Displaying good ethical behavior can boost company morale and client relations. B 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: 360-review. 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. Target is a business. A. reduced employee turnover. firms should take added caution not to support government programs that protect the environment. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. Financial transparency Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices.
a business should be managed ethically because