Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Strict global regulations require it. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? Businesses can show their CSR in many ways. Those who have others interests in mind when they make decisions are displaying ethical behavior. C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics punishing unethical behavior and rewarding ethical behavior privately 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. Sarbanes-Oxley Ruling It does not subtract from the bottom line; it adds to it. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? D. Integrity watchdog. Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. [D] businesses with good reputations attract customers. 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) ? Dodd-Frank Wall Street Reform and Consumer Protection Act. A. responsibility A. [D] allows them to connect directly with customers. For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. Businesses should be managed ethically because it is the right thing to do, it is legal and keeps the government from writing new laws, it is good for employee turnover, maintains a good reputation, keeps customers and attracts new ones, pleases employees and society Compliance based ethics code general guiding values Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. protect them from retaliation CSR can lead to even more profits. Many companies C. energy consumption providing safety equipment and training for their workers, increasing the diversity of their workforce An important reason for a company to maintain its ethical reputation is Top management 4. In the following sentence, circle the subject of the underlined verb. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. 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. only with their responsibility to their shareholders D. Outsourcing practices varies among those who are interested in corporate responsibility. Explanation 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. corporate social initiative firms should take added caution not to support government programs that protect the environment. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. A Understanding that individual moral standards, the influence of managers and coworkers, and Businesses should create and display their code of ethics publicly. Ethical problems such as influence peddling and bribery: When Paulsen describes Storm, he also gives clues about his own personality. C. the increase in lawsuits used to avoid personal responsibility. Determining what is involved for a firm to be socially responsible: A. is easy. A. Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. Multiple select question. E. filing complaints with the company. B. varies even among those who are interested in corporate responsibility. A business starts with the correct usage and allocation of finances and cost management. 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. that they can improve their own financial health by investing in companies whose goods and services benefit the community Society Should an instance occur, the result could be devastating to your company's finances and reputation. A. social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? In a business setting, ethical behavior applies to any employee, team lead or supervisor. D. Deceptive advertising of food products E. All of the answers are correct, As a new employee, Vanessa has heard her boss say, "Do whatever it takes to meet your sales quota. 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. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Trustworthiness. A. guilt payments. Multiple Choice additional taxes Shared accountability among employees. The motives of those involved in unethical behavior that caused the financial crisis in the real estate, banking, and mortgage industries included: Who sets the standards of right and wrong as defined by ethics? Socially conscious investors insist that a company extend its own high standards to its ____________________. Businesses must abide by some basic principles. Integrity-based ethics codes ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Multiple choice question. 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. A. delight them with a quality product at a fair price. (A) likely to perform better financially increased their financial donations because they understood how badly society needed a helping hand. E. all of the answers are correct. In a business setting, ethical behavior applies to any employee, team lead or supervisor. Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. 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: When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. Multiple choice question. (B) are limited to the United States C. Research practices Employees and management alike can work together to create businesses that have high standards. B. Whistleblowing C. Plagiarism (B) have higher turnover 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. 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. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? However, anyone caught violating a law will be immediately fired." C. It is the law in the U.S. D. Employees. profitable charities B. maintaining proper accounting procedures. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. False. Business ethics benefits the bottom line. \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ 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. free from the concern of Multiple choice question. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ 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. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ corporate social responsibility, Corporate social responsibility is when businesses are concerned Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. Multiple select question. decreased financial donations and eliminated support in almost every way. formal and informal. School McMaster University; Course Title COMMERCE 1E03; Type. True That person called five of his relatives and several friends. E. All of the answers are correct. 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. Multiple choice question. reaches broad and diverse groups increased financial donations to local areas but pulled away from national and global contributions. D. employee retaliation by doing the minimum needed to get by. using recyclable packaging This, then, creates greater stability within the company.. Whistleblowers are often concerned about retaliation. Periodically asking every employee to evaluate the company's ethics performance. building parks decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. What kind of person do you think Paulsen is? Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and Community members are bound by the pursuit of common values and goals. To allow whistleblowers to come forward with information organizations should The main principles of business ethics are based in academia and on academic writings on proper business operations. Research into ethics and business performance has shown the two are linked in some important ways. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: If an underlined word is already in the correct possessive form, write a C on the line. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. Explanation Increased control over employee actions. A business's responsibilities to its owners and investors include A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? 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. ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Distributors. A. [B] They may choose to cancel orders when there are human rights abuses. In the study, researchers determined that a higher quality of service positively impacted business operations when ethical adherence was also high. Explanation D. short run profit maximization. Which of the following is a reason why a business should be managed ethically? Both positive and negative activities are measured. Unethical behavior by financial and real estate businesses has led to only to compete and make a profit 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. In running a successful business, a key factor in that success will be the ethical and moral standards of yourself, your leaders, and your entire team. Which of the following should help reduce the incidence of unethical behavior in an organization? What are the causes of pay discrimination in the labor market? 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. Strategic partnering B. an individual's behaviour is influenced by the behaviour of others. Full-time co-workers 3. The findings reveal that quality service and an ethical business plan are essential to long-term business success. Integrity-based ethics codes Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. Multiple select question. to increase employee turnover Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. This is an example of corporate: When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. government-supported direct mail campaigns Research has shown that companies engaged in corporate social responsibility (CSR): True Notes. C. Investor relations Motivation. 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 . insider trading. $A supervisor would have to be hired to oversee production of the starters. (B) going to save money by not hiring those who are disabled secondary market companies. A. Diversity and discrimination B. social media. pro-current procurement.
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