offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. 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. 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. Deceptive advertising of medicines and toys [B] passing laws to make accounting records more transparent D. Outsourcing practices They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. 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. Ethical problems such as influence peddling and bribery: What kind of person do you think Paulsen is? Think about a business that hires only family or one that gives inappropriate incentives, for example. B. disgruntled workers manipulating budgets and expenses. social order ethics [D] requiring all bankers to sign ethical codes. using recyclable packaging Corporate responsibility 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. A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? whistleblowers. B. an individual's behaviour is influenced by the behaviour of others. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? tax officials. B. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. Unethical behavior by financial and real estate businesses has led to corporate social responsibility, Corporate social responsibility is when businesses are concerned Top leaders from other countries have been charged with bribery. responsible management of human resources, responsible management of human resources. A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. [B] about being fair and honest with their stakeholders [D] To avoid lawsuits, Effective ethics officers: When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: 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: Attracting and retaining better employees is an example of a corporate social responsibility: Unethical behavior in business, especially in the real estate and banking industries, has resulted in _____________________ _____________________ _____________________is a business's concern for the welfare of society. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. With respect to business ethics, it can be said that "it takes two to tango." about being fair and honest with their stakeholders There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. D. structure and strategy. (D) affect hiring practices very little. It emphasizes sustainability, customer loyalty, brand image, and employee retention. Periodically asking every employee to evaluate the company's ethics performance. A. insider trading. Scandals. 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. Multiple Choice Synonym Discussion of Ethical. Multiple Choice <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . [B] share all information with managers when requested Supervisor Multiple select question. An important reason for a company to maintain its ethical reputation is [B] allowing management to decide the outcomes of investigations B. philanthropy. lose sales revenues technical policy socially conscious research organizations. Ethical standards are different from country to country. D. buying the company's products. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Multiple Choice Source interviews were conducted for a previous version of this article. social audit. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. A. And could be pivotal for career growth. E. law. 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. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. A. you need to justify socially responsible behaviour from an investors standpoint only. An organization's managers instill corporate values and _____________________ in employees by the examples they set. It does not subtract from the bottom line; it adds to it. 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. Those who argue in favour of corporate social responsibility suggest that: A. Internet D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. A company that has socially responsible human resources management is [C] allows them to reach specific groups more directly A. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: The World Trade Organization (WTO) social initiatives What Does Ethical Decision Making Mean? separating themselves from suppliers who violate. D. companies who are perceived as being socially responsible will ultimately earn more profits for their Who sets the standards of right and wrong as defined by ethics? corporate social initiative 1. Explanation Its premise is based on integrity, fairness, and respect for others. (A) matter very little to employers increased financial donations to local areas but pulled away from national and global contributions. allows them to reach specific groups more directly, allows them to connect directly with customers They define crimes more narrowly than do ethics protect from fraud, theft, and violence, while are used to decide how we treat others responsibly to society's views of right and wrong Ethically Behaving often requires more than obeying the law. Its easier for a business to retain employees when they work for a company that they believe in. 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. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. D. employee retaliation by doing the minimum needed to get by. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. It seeks to promote honesty, fairness, and responsibility in all advertising. Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. The first area is productivity. Ethical behavior includes honesty, fairness, integrity and understanding. The term business ethics refers to the set of moral principles that guides a company's conduct. Multiple choice question. Governments There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. B. helping others A. reduced employee turnover. Business ethics concerns ethical dilemmas or controversial issues faced by a company. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. Research into ethics and business performance has shown the two are linked in some important ways. insider trading. B. because strict global regulations require it. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. Article. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) This is an example of corporate: A company's effectiveness and financial performance are most affected by responsible _________ _________ management. social audit. On the flip side, a leader who personifies ethical behavior will be fair in all situations. retaliation The main principles of business ethics are based in academia and on academic writings on proper business operations. 360-review. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. benevolence can lead to a vote of no confidence by company stakeholders. Defines an organization's guiding principles. ethical standards that are often unreasonable and cannot be met by most leaders. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. increasing the diversity of their workforce In the following sentence, circle the subject of the underlined verb. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. It does not subtract from the bottom line; it adds to it. List the most influential on top. 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} called stakeholder interest ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. social impact program. These define the company's guiding values, and most often it involves shared accountability. Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. integrity-based ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. She has asked you to give her information about what determines the level of various interest rates. 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. The employment of ethical business practices can enhance overall corporate health in three important areas. Trustworthiness. The firm has evolved into a big business due to quality and innovative work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . Multiple Choice statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. That person called five of his relatives and several friends. An important reason for a company to maintain its ethical reputation is 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. is costly, but worthwhile in reaching specific customers moral impropriety. Paying employees on specified pay dates most of the time. D. integrity. [D] businesses with good reputations attract customers. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. separating themselves from suppliers who violate The chief engineer has recommended against this move, however, pointing out that the cost to produce the starters would be greater than the current 8.40perunitpurchaseprice:8.40 per unit purchase price:8.40perunitpurchaseprice: PerUnitTotalDirectmaterials$3.10Directlabor2.70Supervision1.50$60.000Depreciation1.00$40.000Variablemanufacturingoverhead0.60Rent0.30$12.000Totalproductioncost$9.20\begin{matrix} social policy All successful businesses communicate effectively. A. It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. an individual's ethics for the welfare of society as a whole, about being fair and honest with their stakeholders decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. because strict global regulations require it, learned by observing the actions of others in the organization. government-supported direct mail campaigns Multiple select question. \text{Variable manufacturing overhead} & \text{0.60}\\ investors. 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: The most basic question in an ethics-based management system is. 'Business' can mean an activity of exchange. 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. B. Giving back to society Employees and management alike can work together to create businesses that have high standards. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? D. Pricing practices Product safety B. global policy B. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. Top management 1. B. building parks Multiple choice question. A. A. expanding the opportunity to behave ethically by providing rewards for following the rules. [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is Integrity-based ethics codes 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. Another reason why business ethics is important is that it can improve profitability. 2. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. C. Watch tower sentinel (C) occur in many countries When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. <br> I . '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. 8 Mini-Case Study, Intro-Into-Business: Ch. Multiple choice question. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ If an ethical tone is set at the top and followed by management, everyone who works there will hold themselves and each other to those standards. A. responsibility A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. reaches broad and diverse groups B. maintaining proper accounting procedures. 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. 1. Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by Explanation Target is a business. A well-implemented ethics program can also reduce losses. Business Ethics refers to carrying business as per self-acknowledged moral standards. She was even _____ after her solo than before. Ethical behavior has significant upfront costs which may never be recovered. The side effects are so great that the society urges that the business should always be ethically and socially responsible. 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. Which of the following are reasons a business should be managed ethically? (B) are limited to the United States A business should be managed ethically because, businesses with good reputations attract customers. A. Diversity and discrimination 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. C. the increase in lawsuits used to avoid personal responsibility. 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 . In ethics and social sciences, value denotes the degree of importance of some thing or action, with the aim of determining which actions are best to do or what way is best to live (normative ethics in ethics), or to describe the significance of different actions.Value systems are prospective and prescriptive beliefs; they affect the ethical behavior of a person or are the basis of their . Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . (C) likely to perform worse financially corporate social initiative True Which of the following is not one of the approaches associated with corporate social responsibility? setting a good example. Explanation free from the concern of Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. Companies Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. (D) it reduces laws and regulations, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: The moral and ethical standards by which leaders are judged are far stricter than in the past. Multiple select question. [A] is costly, but worthwhile in reaching specific customers because strict global regulations require it Corporate values are: China is a communist country. There are a number of reasons why businesses should act ethically: to protect its own interest; to protect the interests of the business community as a whole so that the public will have trust in it; to keep its commitment to society to act ethically; to meet stakeholder expectations; to prevent . Suppliers C. Research practices Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. additional taxes help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? 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.

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