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retaliation going to save money by not hiring those who are disabled \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ That person called five of his relatives and several friends. 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, Chapter 18 APUSH The Victorian Era 1880-1917. 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 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. How Managers Can Encourage Ethical Behavior | Principles of Management Multiple choice question. True false question. This is an example of corporate: In a business setting, ethical behavior applies to any employee, team lead or supervisor. corporate raider divisions. The concern businesses have for the welfare of society, not just for their owners is: Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. It's the age-old reality: "Out-of-sight, out-of-mind." acquisition stalking. Resource procurement and consumption practices C. Accounting fraud Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. 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. Rohit Sharma - Lead Technical Product Manager - LinkedIn (A) are just part of doing business E. all of the answers are correct. Unethical behavior by financial and real estate businesses has led to How are these two rates measured? tax officials. As a philosophy, ethics are the principles that guide a person's behaviour. Multiple Choice 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. 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. social justice. Multiple select question. providing safety equipment and training for their workers, increasing the diversity of their workforce Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? 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. One employee whose name was at the top of everybody's list was instrumental in helping another employee who failed to wear his protective headgear to avoid suffering a serious head injury. Multiple select questions. (C) 4 out 5 citizens volunteer an hour each week Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? enjoy greater employee loyalty Here are five reasons why you should keep things legal and follow business ethics in accounting. Putting Ethical Design into Practice. B. being socially responsible is all about being ethical. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". Product safety Discrimination and Harassment. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. B. helping others reducing regulations about labeling the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. [D] severe financial crises. to increase employee turnover D. buying the company's products. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. Multiple Choice It is essentially a moral compass. 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. Rank the following jobs according to their importance in influencing the implementation of ethical standards. Explanation \end{matrix} Ethics can be rooted in belief or the pursuit of making the world better. Customer privacy policies and practices Amber was observing an example of the ___________ followed at this organization. asking suppliers to lower their standards to be in compliance with When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. B. philanthropy. 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. corporate social responsibility, Corporate social responsibility is when businesses are concerned A Understanding that individual moral standards, the influence of managers and coworkers, and On the flip side, a leader who personifies ethical behavior will be fair in all situations. Which of the following would be a unique focus of an integrity-based ethics code? [A] making the charges public before the investigation C. Investor relations An important factor in enforcing an ethics code is: 8 Mini-Case Study, Intro-Into-Business: Ch. because strict global regulations require it Corporate values are: 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. ___________ __________ ______________is a business's concern for the welfare of society. Is it acceptable if everyone else is doing it? Explanation Multiple select question. reaches broad and diverse groups Internal Audit Company Protection Act HR Ethical Dilemmas - SHRM (D) occur in only a few countries. Compliance-driven ethics standards B. an individual's behavior is influenced by the behavior of others. One strategy guaranteed to displease your customers is to: How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. Ethical Dilemmas: How Scandals Damage Companies Increased control over employee actions. 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. \text{Direct materials} & \text{\$ 3.10}\\ Multiple select question. Business ethics helps to optimize company resources. A. Whistleblower Chapter 4. Marketing, Finance, Sales), technical roles (e.g. (D) long jail terms for those who acted unethically. Multiple select question. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: Which of the following should help reduce the incidence of unethical behavior in an organization? it attracts and retains customers C. energy consumption . Ethical behavior positively impacts a businesss financial performance. Displaying good ethical behavior can boost company morale and client relations. 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 List the most influential on top. All else held equal, socially responsible firms: A. are viewed more favourably by consumers. 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. A. responsibility You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. [B] Bribery demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. A. The total rent on the plant is$80.000 per period. Which of the following represent examples of how corporations set positive standards of ethical behavior? Business Ethics - Definition, Principles, Types, Examples - WallStreetMojo Business principle (3) Flashcards | Quizlet Morality codes 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. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? not concerned with the ethical or socially responsible behavior of their international suppliers. 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. If an underlined word is already in the correct possessive form, write a C on the line. Corporate responsibility building parks Which of the following are examples of outside stakeholders that must be told about a company's ethics program? C. diversity True In the long run, they believe 360-review. B. Whistleblowers are insiders who report illegal or unethical behavior. C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics the collection of laws to protect society from fraud, theft, and violence. social audit. Economic conditions in some developing countries make child labor a necessity for the survival of families. protect them from retaliation A. Overstating an expense report. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. P 145 avoiding lawsuits is one reason to manage a - Course Hero D. Outsiders must be told about the ethics program. 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 Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. 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: Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and D. help investors recoup their losses. draw more customers, Many investors believe Financial transparency Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. A. based on a commitment to integrity and respect and C. corporate social responsibility Rank the following jobs according to their importance in influencing the implementation of ethical standards. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. America's CEOs Seek a New Purpose for the Corporation \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ separating themselves from suppliers who violate. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. [C] The U.S. government will use military force to enforce labor laws.. Ethical standards are different from country to country. (A) investors putting more money into both markets It does not subtract from the bottom line; it adds to it. \text{Total production cost} & \text{\$ 9.20}\\ 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. 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. In a business setting, ethical behavior applies to any employee, team lead or supervisor. ERIC - EJ817941 - Using Ethics Vignettes in Introductory Finance D. fail to earn sufficient profits for their owners. 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. \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ The companys vision, values and mission should be clearly stated and visible to both employees and clients so that the company can be held to those standards. [C] To increase employee turnover School McMaster University; Course Title COMMERCE 1E03; Type. A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. 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. Responsible business behavior depends on the responsible behavior of each ______ in the business world. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. Top officials in countries like Japan, South Korea, and China have faced legal charges of influence peddling and __________ charges, which serve as examples of the unethical behavior that U.S. companies face in overseas markets. integrity-based ethics Multiple select question. Multiple choice question. D. the nation's business schools that tolerate unethical behaviour in students. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? Explanation Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. based on a commitment to integrity and respect 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. Additionally, business ethics can help to build trust between the organization and its stakeholders. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. socially conscious research organizations. Article. 1. Positive Effects of . socialism Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is 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 Multiple Choice When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. Fraud 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. B. Government and business leaders are being held to 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. 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 . _____________________ _____________________ _____________________is a business's concern for the welfare of society. 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: 051-Methods for Designing Ethical, Human-Centered AI with Undock Head Ethics in Management | Encyclopedia.com Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management Managing data ethics | Deloitte Insights According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? D. management is insensitive to ethical issues. social initiatives A. varies among those who are interested in corporate responsibility. B. focus on cost and quality control systems within your organization. Its premise is based on integrity, fairness, and respect for others. B. compliance police. A. They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. Top management must adopt and support a corporate code of conduct. Notes. Businesses must abide by some basic principles. corporate social initiative 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. general guiding values Explanation (B) make employers reluctant to hire those who have cheated called stakeholder interest (nervous). Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. This indicates that: A. dancing around issues should be part of a firm's code of ethics. However, anyone caught violating a law will be immediately fired." 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 . According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Global Business Ethics. True Taking Advantage of the Advantages: Gifts, Bribes, and Kickbacks D. Mayhem Studies have shown that what most influences a company's effectiveness and financial performance is: responsible management of human resources, Which of the following behaviors are illegal in the United States, but potentially put our companies at a disadvantage in overseas markets? True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. 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. Explanation shareholders Intro. business chapter 5 Flashcards | Quizlet Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. ethical officers Stresses shared accountability A company that has socially responsible human resources management is it reduces laws and regulations draw more customers, retain better employees A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. This will ensure that you have trustworthy employees working for you. Value (ethics and social sciences) - Wikipedia B. Workplace and colleague wellbeing. _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . Why Should Businesses Act Ethically? - Business Ethics and Corporate In one such study, led by Kaifeng Jiang, a professor at the Ohio State University Fisher College of Business, researchers examined the intersection between the quality of service a business offers and its adherence to ethical mores by looking into conditions at nearly 200 movie theaters. A business should be managed ethically because, businesses with good reputations attract customers. Ignoring hazardous job conditions that exist in the company's facilities Reading: Global Business Ethics | International Business - Lumen Learning Which of the following were not identified as being fundamental to the CSR definition? The deliberative system leads to more-ethical behaviors. Compliance-based ethics codes focus on: D. to please customers, employees, and society. moral impropriety. An environmentally friendly business: operates in a sustainable manner, causing minimal damage to the environment and using renewable resources where possible considers where its supplies come from and how they are madeit will work with environmentally responsible suppliers and source materials locally to reduce its carbon footprint Multiple choice question. China is a communist country. Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. 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. Multiple choice question. offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. Chapter 4 LearnSmart Quiz Flashcards | Quizlet Shared accountability among employees. lose sales revenues U.S. companies tend to overlook and forget human rights abuses abroad. Thinking Ethically - Markkula Center for Applied Ethics Then, of course, there are the more serious consequences of highly unethical behavior. "It's an ongoing phenomenon that must be better understood and managed and . B. varies even among those who are interested in corporate responsibility. profitable charities Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ Vanessa recognizes this as a(n) ________-based code of ethics. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. B. personal responsibility C. compliance \text{Direct labor} & \text{2.70}\\ The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. social policy Demanding Ethical and Socially Res, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Natuurwetenschappen eerste jaar examen trimes. Socially conscious investors insist that a company extend its own high standards to its ____________________. D. integrity. ", Corporate social responsibility is when businesses are concerned Multiple Choice Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ enjoy greater employee loyalty promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Another reason why business ethics is important is that it can improve profitability. Ethics in the Workplace: Examples & Tips | PayScale [B] share all information with managers when requested \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ He also believed anything other than that would be considered: going to lose money by providing pay raises (A) have fewer loyal customers but attract more of them 2. Multiple choice question.