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draw more customers, retain better employees corporate beneficial management True 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. A. Overstating an expense report. \text{Direct labor} & \text{2.70}\\ What kind of person do you think Paulsen is? 360-review. profitable charities Multinational corporations are committed to operating within the legal limits of U.S. law. allows them to reach specific groups more directly, allows them to connect directly with customers Which of the following would be a unique focus of an integrity-based ethics code? C. a loss of employee commitment and trust in the company and its management. The firm has evolved into a big business due to quality and innovative work. When management considers ethics in its actions toward stakeholders, employees can be positively affected. The You Design, We Build Company makes custom furniture of all kinds. It is essentially a moral compass. List the most influential on top. 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. Research into ethics and business performance has shown the two are linked in some important ways. In the study, researchers determined that a higher quality of service positively impacted business operations when ethical adherence was also high. Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. A. Whistleblower many Americans decide what's ethical based upon the situation in which they find themselves. [A] outsourcing enforcement of the laws to private firms Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. Its premise is based on integrity, fairness, and respect for others. Which of the following represent examples of how corporations set positive standards of ethical behavior? the collection of laws to protect society from fraud, theft, and violence. capitalism Supervisor Which of the following are true regarding ethical behavior? 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? The World Trade Organization (WTO) (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 (C) make students who know how to plagiarize well acceptable to employers social media. D. Outsourcing practices Complete each sentence with the comparative or superlative form of the modifier in parentheses. Sherman Act Additionally, business ethics can help to build trust between the organization and its stakeholders. 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. [C] Paying U.S. minimum wage The international Day Of Pe, Chapter 3 Doing Business in a Global Markets, 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, Spring 2018 Final Exam Review Chapters 8,9,10. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. Multiple select questions. \end{matrix} [D] businesses with good reputations attract customers. 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. aggregate independent appraisal. These principles govern every aspect of the company's operations, including its interaction with the government and other businesses, its treatment of its employees and its relationship with its customers. Which of the following were not identified as being fundamental to the CSR definition? 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. Maximizing ethical conflict in work groups Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. internal investigation. [D] They may choose to cancel orders when there are environmental abuses. [C] can be trusted to maintain confidentiality whistleblowers. lower ethical standards than in the past. ethical standards that are often unreasonable and cannot be met by most leaders. holding international suppliers to different standards than American companies must adhere to in the United States. Explanation (A) matter very little to employers Top management is essentially conducting a(n) The side effects are so great that the society urges that the business should always be ethically and socially responsible. (B) are limited to the United States InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. With respect to business ethics, it can be said that "it takes two to tango." A. The rent charge above is based on space utilized in the plant. ", Corporate social responsibility is when businesses are concerned of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition (A) likely to perform better financially It's the age-old reality: "Out-of-sight, out-of-mind." going to save money by not hiring those who are disabled Specific decisions made by your organization, whether by an individual or the entire group, can have a massive impact on how your company is viewed and the reputation it cultivates for itself. Multiple select question. Displaying good ethical behavior can boost company morale and client relations. Full-time co-workers 3. Multiple Choice Depreciation is due to obsolescence rather then wear and tear. A. the breakdown of traditional religious institutions. B. personal responsibility C. compliance ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Though there are many ethical opinions that most people share, ethics will differ from person to person. D. employee retaliation by doing the minimum needed to get by. The many small choices we make daily about working or goofing off, using company phones and computers responsibly, and following safety rules, make it clear that __________ decisions start with each individual. Codes of ethics foster ethical behavior by Who sets the standards of right and wrong as defined by ethics? Multiple choice question. whistleblowers 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. insider trading. Defines an organization's guiding principles. Explanation \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ (A) it prevents government audits Another reason why business ethics is important is that it can improve profitability. In fact they contribute to it: 1. only with their responsibility to their shareholders True or false: Many investors believe that by choosing to put their money into companies whose goods and services benefit society, they can improve society's financial health as well as their own. Business ethics benefits the bottom line. 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. This includes managers and subordinates, peers and clients. The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. 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. Which of the following would least likely involve ethical concerns? Which of the following are reasons a business should be managed ethically? going to lose money by providing pay raises False. 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. draw more customers, Many investors believe A. C. help laid-off employees get their jobs back. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. Everyone with whom the business has dealings. Corporate social responsibility is based on a B. being socially responsible is all about being ethical. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Multiple choice question. social justice. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ Multiple Choice [A] is costly, but worthwhile in reaching specific customers [C] conducting objective investigations Multiple select question. Explanation Those who argue in favour of corporate social responsibility suggest that: They need to take responsibility for what happened and be proactive in fixing it. Multiple choice question. increased their financial donations because they understood how badly society needed a helping hand. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. (nervous). She has asked you to give her information about what determines the level of various interest rates. an individuals behavior is influenced by the behavior of others. D. guideline. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility E. Employee benefit programs. Responsible business behavior depends on the responsible behavior of each ______ in the business world. additional taxes Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. One entity (e.g., a person, a firm) "does business" with another when it exchanges a good or service for valuable consideration, i.e., a benefit such as money. When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. that only society's health is improved when they invest in companies whose goods and services benefit the community 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 [C] only to compete and make a profit decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. employees and internal public relations Explanation Multiple choice question. Periodically asking every employee to evaluate the company's ethics performance. allow for complete anonymity True he many small choices we make daily about working or goofing off, using company phones and computers responsibly, and following safety rules, make it clear that ____________________decisions start with each individual. social policy C. all levels of management. [A] for the welfare of society as a whole Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; The second major meaning behind the term is . concern for the welfare of society 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. Multiple select question. Economic conditions in some developing countries make child labor a necessity for the survival of families. 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. corporate inclusion policy [A] few losses to investors allows them to connect directly with customers human resource support staff 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. 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. corporate responsibility B. helping others Multiple Choice Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Suppliers Corporate social responsibility describes the firm's: A. responsibility to their stockholders. Multiple Choice Businesses should create and display their code of ethics publicly. 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. Notes. Multiple choice question. (A) are just part of doing business Multiple choice question. In the long run, CSR enhances profits. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. 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. Multiple Choice [B] most of those who caused the crisis going to jail B. True All else held equal, socially responsible firms: A. are viewed more favourably by consumers. Rank the following jobs according to their importance in influencing the implementation of ethical standards. There are a wide variety of examples of ethical behavior in the workplace. Startup Costs: How Much Cash Will You Need? standards. (B) it is using investors' money in ways they did not intend internal search and occupy organizations. What occurs when an employee exposes an employer's wrongdoing to outsiders? What are the causes of pay discrimination in the labor market? [A] They will bribe local officials to change their policies. D. maximizing their investment in the firm. Integrity-based ethics codes B. improve corporate profits. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? D. Integrity watchdog. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? corporate policy C. Research practices using recyclable packaging The mortgage bankers and real estate companies who helped create the financial crisis of 2008 were driven by, Financial and political leaders can restore trust in the free market system by: Article. integrity-based ethics C. Increased penalties for code violators. 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. These actions are Financial transparency plan to maximize profits for shareholders to spend in communities Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. Explanation The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. Should an instance occur, the result could be devastating to your company's finances and reputation. C. teamwork eliminates a need for personal ethics. For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. Multiple select question. increasing the diversity of their workforce Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. Emphasizes strong penalties for wrongdoers requiring suppliers to be evaluated monthly concerning [B] about being fair and honest with their stakeholders 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: 1. [D] severe financial crises. \text{Direct materials} & \text{\$ 3.10}\\ B. maintaining proper accounting procedures. because strict global regulations require it, learned by observing the actions of others in the organization. for the welfare of society as a whole, about being fair and honest with their stakeholders allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? 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. not concerned with the ethical or socially responsible behavior of their international suppliers. 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. Top management 4. B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and Companies that participate in CSR typically have more loyal employees and customers. It emphasizes sustainability, customer loyalty, brand image, and employee retention. firms should take added caution not to support government programs that protect the environment. 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. The best way to instill a culture of ethics among your employees is to lead by example and maintain a clear zero-tolerance policy on specific unethical behaviors, such as lying, cheating, stealing and fraud. 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. B. The ethics code must be enforced. Which of the following statements about business ethics is false? Deceptive advertising of medicines and toys Multiple select question. Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. [A] making the charges public before the investigation Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. Although this can be a lot of work, it can also positively impact the bottom line, protect a companys brand and result in higher customer satisfaction. A business starts with the correct usage and allocation of finances and cost management. 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. A. you need to justify socially responsible behaviour from an investors standpoint only. As a philosophy, ethics are the principles that guide a person's behaviour. . (C) occur in many countries Which of the following is not one of the approaches associated with corporate social responsibility? Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. B. 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.. False, Whistleblowers can be helped by protecting them from: Multiple Choice Many companies True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. B. B. disgruntled workers manipulating budgets and expenses. [D] requiring all bankers to sign ethical codes. Explanation It does not subtract from the bottom line; it adds to it. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. higher ethical standards than in the past. Putting Ethical Design into Practice. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. A. Internet Increased control over employee actions. Explanation shareholders According to recent U.S. Census Bureau research volunteerism is at an all-time high, but D. structure and strategy. social media A high ethical standard extends to customers as well. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. allows them to reach specific groups more directly. 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.

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