You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. In a business setting, ethical behavior applies to any employee, team lead or supervisor. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are penalizing wrong-doers. internal search and occupy organizations. Multiple Choice Those who have others interests in mind when they make decisions are displaying ethical behavior. 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. it makes financial as well as moral sense to invest in companies that plan to create a better environment, Companies that try to act in a socially responsible way are likely to focus on such activities as punishing unethical behavior and rewarding ethical behavior privately B. [A] few losses to investors Prepare computations showing how much profits will increase or decrease as a result of making the starters. A. the breakdown of traditional religious institutions. 'Business Ethics' can be termed as a study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. Personal projects Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. In the following sentence, circle the subject of the underlined verb. Distributors. global policy . Startup Costs: How Much Cash Will You Need? Multiple choice question. Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. aggregate independent appraisal. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. 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? increased financial donations to local areas but pulled away from national and global contributions. The findings reveal that quality service and an ethical business plan are essential to long-term business success. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . Shared accountability among employees. 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. Practice deception regarding product safety issues. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: One strategy guaranteed to displease your customers is to: acquisition stalking. Safe working conditions According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Think about a business that hires only family or one that gives inappropriate incentives, for example. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. Jake knew that several other employees followed strict company policy every day and always wore their headgear; yet, they were not being acknowledged for their compliance. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. With regard to socially responsible behavior, American businesses are For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. 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. Which of the following statements reflects the difficulty companies face when requiring international suppliers to follow environmental and human rights standards set by U.S. firms? (B) make employers reluctant to hire those who have cheated Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. Multiple choice question. Rank the following jobs according to their importance in influencing the implementation of ethical standards. The term business ethics refers to the set of moral principles that guides a company's conduct. True false question. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is Often, business ethics involve a system of practices and procedures that help build trust with the. \text{Direct materials} & \text{\$ 3.10}\\ The majority of CEOs blame unethical employee conduct on: That person called five of his relatives and several friends. 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. 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. As a philosophy, ethics are the principles that guide a person's behaviour. 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. 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: Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. An important factor in enforcing an ethics code is: separating themselves from suppliers who violate. A. shareholders 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. Multiple select questions. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. Businesses can show their CSR in many ways. True demanding that international suppliers adhere to higher, more costly standards than their American counterparts. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. Society Ethical behavior positively impacts a businesss financial performance. Multiple choice question. allows them to connect directly with customers stockholders Unethical behavior by financial and real estate businesses has led to Multiple choice question. Socially conscious investors insist that a company extend its own high standards to its ____________________. Who sets the standards of right and wrong as defined by ethics? 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. Multiple choice question. With respect to business ethics, it can be said that "it takes two to tango." This indicates that: A. dancing around issues should be part of a firm's code of ethics. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." In fact they contribute to it: 1. Global Business Ethics. integrity-based ethics Supports ethically sound behavior Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. A business should be managed ethically because, businesses with good reputations attract customers. D. Improved awareness of the relevant laws. asking suppliers to lower their standards to be in compliance with What Does Ethical Decision Making Mean? A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . This includes managers and subordinates, peers and clients. Which of the following describes charitable donations by corporations to nonprofit organizations? of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition Marketing, Finance, Sales), technical roles (e.g. D. Integrity watchdog. many Americans decide what's ethical based upon the situation in which they find themselves. U.S. companies tend to overlook and forget human rights abuses abroad. providing safety equipment and training for their workers, increasing the diversity of their workforce All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. I'm a Product Manager with experience working cross-functionally with business roles (e.g. A. Internet [B] Bribery A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. C. energy consumption 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. ethical officers hiring only women and minorities because strict global regulations require it Corporate values are: Multiple select question. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. Top management is essentially conducting a(n) 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. Even small companies participate in _______ through donations and volunteer support of local causes and national charities, such as the Red Cross and the United Way. (A) investors putting more money into both markets unethical False. A. B. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. concern for the welfare of society draw more customers, Many investors believe Economic conditions in some developing countries make child labor a necessity for the survival of families. Morality codes Multiple choice question. Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. a written code of ethics 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. The side effects are so great that the society urges that the business should always be ethically and socially responsible. retain better employees It is essentially a moral compass. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. Multiple choice question. She was even _____ after her solo than before. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. Business Ethics refers to carrying business as per self-acknowledged moral standards. customers An organization's managers instill corporate values and _____________________ in employees by the examples they set. A high ethical standard extends to customers as well. C. Education and training Recently, top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and to list negative occurrences that supervisors observed. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. Multiple choice question. [A] outsourcing enforcement of the laws to private firms [A] They will bribe local officials to change their policies. A. Explanation This sort of behavior is not limited to the workplace; it can be present in every facet of life. D. buying the company's products. Companies Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? Ethics may seem like an intangible, but there is a clear connection to overall performance. corporate inclusion policy The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. School McMaster University; Course Title COMMERCE 1E03; Type. Which of the following statements is false? 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. 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. Government and business leaders are being held to A company's effectiveness and financial performance are most affected by responsible _________ _________ management. C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. D. Outsourcing practices C. providing all relevant information about current and projected performance of the firm. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be Which of the following would be a unique focus of an integrity-based ethics code? On the flip side, a leader who personifies ethical behavior will be fair in all situations. Fraud Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. B. And could be pivotal for career growth. Example 1. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. Customers increasing control Ignoring hazardous job conditions that exist in the company's facilities The following data have been assembled for the business: InsuranceExpense$2,000SalariesExpense$37,000ServiceRevenue80,000AccountsPayable4,300UtilitiesExpense500OfficeSupplies1,500RentExpense11,000Dividends4,500CommonStock8,500AccountsReceivable7,500Cash7,000Equipment26,600RetainedEarnings,Jan.1,20164,800\begin{array}{lrlr} [C] allows them to reach specific groups more directly How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. 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. [B] They may choose to cancel orders when there are human rights abuses. Internal Audit Company Protection Act In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. An ethical business will get your employees to respect your company . B. the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. What are the causes of pay discrimination in the labor market? Explanation C. business exists only to make money for shareholders. Paying employees on specified pay dates most of the time. D. short run profit maximization. A. you need to justify socially responsible behaviour from an investors standpoint only. (B) 3 out of 4 citizens think they should be paid for their volunteer work Part-time co-workers. 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. 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: (C) gains for investors in 2008 and 2009 Full-time co-workers 3. C. Watch tower sentinel Determining what is involved for a firm to be socially responsible: A. is easy. social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? The You Design, We Build Company makes custom furniture of all kinds. Multiple Choice An important reason for a company to maintain its ethical reputation is Supervisor using recyclable packaging 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. (D) affect hiring practices very little. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. [B] most of those who caused the crisis going to jail Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. Explanation B. a failure of leadership to establish ethical standards. This, then, creates greater stability within the company.. D. maximizing their investment in the firm. A. C. Increased penalties for code violators. Responsible business behavior depends on the responsible behavior of each ______ in the business world. C. Research practices corporate social initiative (C) 4 out 5 citizens volunteer an hour each week Companies that participate in CSR typically have more loyal employees and customers. To allow whistleblowers to come forward with information organizations should Ethics can be rooted in belief or the pursuit of making the world better. analysts. because strict global regulations require it, learned by observing the actions of others in the organization. Maximizing ethical conflict in work groups building parks True D. integrity. Defines an organization's guiding principles. Chapter 4. What kind of person do you think Paulsen is? Dodd-Frank Wall Street Reform and Consumer Protection Act. Which of the following statements about business ethics is false? Team and business confidence. B. [D] favor management in their investigations, A communication tool many companies use to inform diverse groups of their social responsibility efforts at little cost is. It emphasizes sustainability, customer loyalty, brand image, and employee retention. about being fair and honest with their stakeholders B. expressing dissatisfaction by protesting. (C) benevolence is the highest virtue [D] They may choose to cancel orders when there are environmental abuses.
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