a business should be managed ethically because

A. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. moral impropriety. whistleblowers 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. Religious institutions, Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? Source interviews were conducted for a previous version of this article. Multiple Choice human resource support staff Becoming an environmentally friendly business | Business Queensland 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. A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. [C] The U.S. government will use military force to enforce labor laws.. E. law. Unethical behavior by financial and real estate businesses has led to 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. Multiple Choice A. Diversity and discrimination B. (D) going to lose money by providing pay raises, A business should be managed ethically because managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: C. energy consumption Multiple select question. protect them from retaliation Multiple select question. [B] passing laws to make accounting records more transparent Explanation (D) businesses cannot succeed in societies that fail. The deliberative system leads to more-ethical behaviors. Businesses must abide by some basic principles. acquisition stalking. 360-review. Dont make ethics an afterthought in your company culture. _____________________ _____________________ _____________________is a business's concern for the welfare of society. Whistleblowers are often concerned about retaliation. Research has shown that companies engaged in corporate social responsibility (CSR): C. commitment to a management training program. [C] it reduces the likelihood of lawsuits by employees or customers They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. D. Improved awareness of the relevant laws. Defines an organization's guiding principles. I'm a Product Manager with experience working cross-functionally with business roles (e.g. 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. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. 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. What occurs when an employee exposes an employer's wrongdoing to outsiders? [D] severe financial crises. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. Maria Juarez is a professional tennis player, and your firm manages her money. Business ethics concerns ethical dilemmas or controversial issues faced by a company. If an underlined word is already in the correct possessive form, write a C on the line. Ethical problems such as influence peddling and bribery: Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. Socially conscious investors insist that a company extend its own high standards to its ____________________. C. help laid-off employees get their jobs back. penalizing wrong-doers, increasing control (C) likely to perform worse financially 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 . It seeks to promote honesty, fairness, and responsibility in all advertising. Managing data ethics | Deloitte Insights Heres How to Fix It, 10 Common Leadership Mistakes Youre Probably Making, Creating a Diversity and Inclusion Training Program, How to Be an Ethical Leader: 10 Tips for Success, Disrespectful Employees? These actions are Multiple Choice decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. clarifying what green means '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. Multiple select question. An important factor in enforcing ethics codes is selecting a(n) ________ ________. The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. Why Are Business Ethics Important? A Guide - Investopedia Another reason why business ethics is important is that it can improve profitability. The You Design, We Build Company makes custom furniture of all kinds. B. philanthropy Multiple select question. socially conscious research organizations. Explanation [C] can be trusted to maintain confidentiality B. maintaining proper accounting procedures. Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. Top management 1. During the last recession monetary contributions decreased and companies found ways to continue their philanthropic participation by asking employees to donate time to corporate social initiatives and other projects. A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. Business ethics benefits the bottom line. an individual's 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. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. fascism Organizational ethics begins Multiple Choice at the top levels of 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. This includes managers and subordinates, peers and clients. The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: A systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs is called: How are U.S. companies likely to pressure foreign companies to change their standards of ethics and social responsibility? social order ethics 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. (D) make more money for investors in the short run. B. ERIC - EJ817941 - Using Ethics Vignettes in Introductory Finance Compliance-based ethics codes Complete each sentence with the comparative or superlative form of the modifier in parentheses. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: Rank the following jobs according to their importance in influencing the implementation of ethical standards. In fact, data collected by Ethisphere, an organization that tracks the ethical conduct of the worlds largest companies, found that the businesses listed on its 2022 list of most ethical companies outperformed an index of similar large cap companies by 24.6 percent overall. A. D. to please customers, employees, and society. Is it acceptable if everyone else is doing it? (A) 3 out of 4 citizens do not give any time to the communities in which they live Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. B. because strict global regulations require it. Which of the following is a reason why a business should be managed (B) going to save money by not hiring those who are disabled (C) attract and retain better employees (B) it is using investors' money in ways they did not intend The Importance of Business Ethics | Maryville Online At a college, a code of ethics could include being honest and unbiased when grading and being a catalyst for diverse perspectives in the classroom. it reduces laws and regulations 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. 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. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. 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. The main principles of business ethics are based in academia and on academic writings on proper business operations. 8 Current Ethical Issues in Business (and How to Manage Them) building parks B. Scandals. Startup Costs: How Much Cash Will You Need? C. teamwork eliminates a need for personal ethics. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . Marilena Crsteanu - International Customer Experience Advisor D. structure and strategy. create an open-door policy, protect them from retaliation Should an instance occur, the result could be devastating to your company's finances and reputation. 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. Multiple choice question. 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. B. being socially responsible is all about being ethical. \text{ } & \text{Per Unit} & \text{Total}\\ Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". increased their financial donations because they understood how badly society needed a helping hand. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. Article. Ethics may seem like an intangible, but there is a clear connection to overall performance. corporate social responsibility, Corporate social responsibility is when businesses are concerned Which of the following is NOT a part of an integrity-based ethics code? Business Should Always Be Ethically and Socially Responsible D. shift the production of goods to foreign facilities and layoff Canadian workers. E. All of the answers are correct. Explanation Supports ethically sound behavior False. Business Ethics - Definition, Principles, Types, Examples - WallStreetMojo Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. . Other countries also follow capitalist principles. 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. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. going to lose money by providing pay raises [B] They may choose to cancel orders when there are human rights abuses. <br> I . Compliance-based ethics codes focus on: Studies have found a _____ correlation between academic dishonesty and dishonesty at work. Multiple Choice statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. It could also mention specific protocol within the business. Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. If your supervisor directed you to enter false information into a sales order book and told you if you refused that you would lose your opportunity for promotion, you would probably consider this situation to be a(n), According to the text, ethical behavior begins with. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. False, Whistleblowers can be helped by protecting them from: Value (ethics and social sciences) - Wikipedia \text{Total production cost} & \text{\$ 9.20}\\ Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. Multiple choice question. Which of the following are reasons a business should be managed True It is an act that is against the law and against Securities and Exchange Commission policy. When Paulsen describes Storm, he also gives clues about his own personality. A. code of ethics. (C) 4 out 5 citizens volunteer an hour each week What Are Business Ethics? Definition, Types and Examples Paying employees on specified pay dates most of the time. Multiple choice question. Stresses shared accountability [A] it reduces employee turnover Multiple Choice D. integrity. tax officials. \text{Direct materials} & \text{\$ 3.10}\\ Ethical behavior can have negative consequences to the bottom line in the long run. Explanation Multiple choice question. it attracts and retains customers Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. Written ethics codes can be categorized as Which of the following represent examples of how corporations set positive standards of ethical behavior? Multiple Choice Why a Business Should be Managed Ethically? - The Business Guru school districts School McMaster University; Course Title COMMERCE 1E03; Type. C. Increased penalties for code violators. C. providing all relevant information about current and projected performance of the firm. A. Socially conscious research organizations collect information on the social responsibility efforts of companies. [D] To avoid lawsuits, Effective ethics officers: Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. (C) to increase employee turnover ethical standards that are often unreasonable and cannot be met by most leaders. Research into ethics and business performance has shown the two are linked in some important ways. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. Multiple select question. 2. Emphasizes strong penalties for wrongdoers vigilantes. D. buying the company's products. corporate policy CSR can lead to even more profits. Community members are bound by the pursuit of common values and goals. (A) it prevents government audits Full-time co-workers A. the breakdown of traditional religious institutions. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. Ethical Marketing - Marketing Schools The concern businesses have for the welfare of society, not just for their owners is: A. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. Unfair competitive practices in the computer industry Putting Ethical Design into Practice. 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. Chapter 4 - Homework ( Introduction To Business) - Quizlet True false question. 2. Both positive and negative activities are measured. social justice. It does not subtract from the bottom line; it adds to it. Which of the following are reasons a business should be managed ethically? As a philosophy, ethics are the principles that guide a person's behaviour. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. Multiple select question. Though discrimination and harassment laws have been put in place and continue to be updated . Business Ethics - A Successful way of conducting business An important factor in enforcing an ethics code is: Example 1. Global Business Ethics. punishing unethical behavior and rewarding ethical behavior privately 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. Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet Giving back to society fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. Ethical management generates trust, and trust increases productivity. Why Should Businesses Act Ethically? - Business Ethics and Corporate What is ethical is determined by the public, government regulators, interest groups, competitors and each individuals personal moral values, Studying business ethics will not necessarily, Inform you concerning the impact of the work group on ethical decisions. Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. Deceptive advertising of medicines and toys Reevaluating its ethics codes based on the input of its customers. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: 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 . Business ethics isnt always exalted in every workplace, but its critically important when it comes to providing customers with quality service, adhering to regulatory compliance standards, and avoiding steep fines and lawsuits. This is the third year of operations for the company. cultural and accountable 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. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." C. the increase in lawsuits used to avoid personal responsibility. D. the nation's business schools that tolerate unethical behaviour in students. 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. This, then, creates greater stability within the company.. Trustworthiness. Who sets the standards of right and wrong as defined by ethics? socialism Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? BUS-112 Chapter 4 - Subjecto.com A. Whistleblower D. Outsiders must be told about the ethics program. Multinational corporations are committed to operating within the legal limits of U.S. law. B. Horn blower What does the research into business ethics say? Full-time co-workers 3. The first day on the job waiting tables at a popular restaurant, Amber noticed that when one member of the waitstaff was serving a very large party, the other waiters would help carry food to the tables and even check to make sure water glasses were filled.

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