A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. Corporate social responsibility describes the firm's: A. responsibility to their stockholders. It emphasizes sustainability, customer loyalty, brand image, and employee retention. standards. This, then, creates greater stability within the company.. 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. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. C. structure and strategy. social initiatives Business ethics helps to optimize company resources. [B] They may choose to cancel orders when there are human rights abuses. Which of the following statements about business ethics is false? Multiple select question. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. 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 set of formalized rules and standards that describe what a company expects of its employees is called a(n) The concern businesses have for the welfare of society, not just for their owners is: profitable charities draw more customers, Many investors believe Tejas Vemparala also contributed to this article. reducing regulations about labeling $A supervisor would have to be hired to oversee production of the starters. [B] it increases the likelihood of government intervention socially conscious research organizations. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. social audit. decreased financial donations and eliminated support in almost every way. about being fair and honest with their stakeholders Ethical behavior includes honesty, fairness, integrity and understanding. B. ability to plan for the unexpected. Multiple select question. A. [C] allows them to reach specific groups more directly A. \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. C. Investor relations cultural and accountable corporate policy Multiple choice question. 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. All successful businesses communicate effectively. [C] it reduces the likelihood of lawsuits by employees or customers They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. 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. The majority of CEOs blame unethical employee conduct on: A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? [A] for the welfare of society as a whole C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and Written ethics codes can be categorized as C. the increase in lawsuits used to avoid personal responsibility. Periodically asking every employee to evaluate the company's ethics performance. Explanation D. structure and strategy. general guiding values draw more customers, retain better employees What are the causes of pay discrimination in the labor market? By being ethical, leaders can foster an environment that rewards and encourages good attitudes. D. Mayhem A business should be managed ethically for many reasons to maintain a good. Multiple select question. Multiple Choice Safe working conditions Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. True false question. B While these actions might not be illegal, they can definitely have negative effects on the morale and success of a company, especially if their dirty laundry is aired publicly. 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. [C] The U.S. government will use military force to enforce labor laws.. protect them from retaliation Resource procurement and consumption practices B. Multiple choice question. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be U.S. companies follow the lead of consumers, and at this time, there is no evidence of a trend toward concern for better human rights and environmental standards. B. an individual's behavior is influenced by the behavior of others. Which of the following were not identified as being fundamental to the CSR definition? The total rent on the plant is$80.000 per period. ", Corporate social responsibility is when businesses are concerned B. helping others 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. What Does Ethical Decision Making Mean? A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. Full-time co-workers 3. B. to increase employee turnover Multiple select questions. Which of the following is NOT a part of an integrity-based ethics code? D. expanding the opportunity to behave ethically by providing punishments for following the rules. Organizational ethics begins Multiple Choice at the top levels of management. These examples of ethical behaviors ensures maximum productivity output at work. C. helps government officials develop appropriate legislation. False, Whistleblowers can be helped by protecting them from: Dodd-Frank Wall Street Reform and Consumer Protection Act. Complete each sentence with the comparative or superlative form of the modifier in parentheses. social order ethics concern for the welfare of society An ethically managed business helps to reduce employee turnover. [C] conducting objective investigations Top management Its premise is based on integrity, fairness, and respect for others. False. U.S. companies tend to overlook and forget human rights abuses abroad. corporate raider divisions. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. aggregate independent appraisal. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. With over 20 years of consulting experience across various industries throughout Australia and abroad, I am known for my ability to develop and turn creative strategies into efficient execution and excellent . reaches broad and diverse groups Multiple select question. shareholders There are a wide variety of examples of ethical behavior in the workplace. [B] Bribery On the line provided after the sentence, write the possessive form of the underlined words. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. D. short run profit maximization. Positive Effects of . It does not subtract from the bottom line; it adds to it. Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. However, anyone caught violating a law will be immediately fired." tax officials. (C) 4 out 5 citizens volunteer an hour each week [D] allows them to connect directly with customers. True It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. B. maintaining proper accounting procedures. (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: B. social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? The main principles of business ethics are based in academia and on academic writings on proper business operations. 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. Government and business leaders are being held to Multiple select question. C. all levels of management. reducing most costs D. Integrity watchdog. Multiple Choice B. opportunity. 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. D. Improved awareness of the relevant laws. Notes. 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. whistleblowers. B. enjoy significantly higher profits. corporate inclusion policy Unethical businesses also lose favor with consumers. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. Multiple select question. D. Outsiders must be told about the ethics program. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are the collection of laws to protect society from fraud, theft, and violence. investors. B. A. you need to justify socially responsible behaviour from an investors standpoint only. Multiple select question. Strict global regulations require it. Mistakes and misunderstandings are bound to happen in any work setting. Ethical problems such as influence peddling and bribery: 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. 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. Top leaders from other countries have been charged with bribery. U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. TV ads D. stockholders. insider trading. Emphasizes strong penalties for wrongdoers Codes of ethics foster ethical behavior by . (B) it is using investors' money in ways they did not intend An ethical business will get your employees to respect your company . 2. To allow whistleblowers to come forward with information organizations should Whistleblowers are insiders who report illegal or unethical behavior. The corporate scandals can hurt the reputation of firms, the interests of investors and stakeholders, welfare of employees, the life damage or property losses of customers and the damage of environment. B. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Periodically asking every employee to evaluate the company's ethics performance. C. a loss of employee commitment and trust in the company and its management. C. writing their representatives in Congress. Ethical issues are limited to for-profit organizations. 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. \end{array} 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. Multiple Choice (C) make students who know how to plagiarize well acceptable to employers [A] To attract customers False. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. An important reason for a company to maintain its ethical reputation is C. Accounting fraud Which of the following should help reduce the incidence of unethical behavior in an organization? C. Education and training C. Research practices Society \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. (C) occur in many countries In the following sentence, circle the subject of the underlined verb. providing safety equipment and training for their workers, increasing the diversity of their workforce Resource procurement and consumption practices Maximizing ethical conflict in work groups 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. Who sets the standards of right and wrong as defined by ethics? Compliance-driven ethics standards According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? a written code of ethics D. employee retaliation by doing the minimum needed to get by. Top management 4. The ethics code must be enforced. 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} demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. commitment to maximizing shareholder profits in all decisions, Insiders, such as employees, who report concerns about a company's accounting or auditing practices are called: A. guilt payments. E. filing complaints with the company. 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) ? (C) gains for investors in 2008 and 2009 It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. Business ethics benefits the bottom line. Economic conditions in some developing countries make child labor a necessity for the survival of families. Why You Need to Create a Fantastic Workplace Culture, 10 Employee Recruitment Strategies for Success, Best Accounting Software and Invoice Generators of 2023, Best Call Centers and Answering Services for Businesses for 2023. D. Outsourcing practices What occurs when an employee exposes an employer's wrongdoing to outsiders? The best way to instill a culture of ethics among your employees is to lead by example and maintain a clear zero-tolerance policy on specific unethical behaviors, such as lying, cheating, stealing and fraud. Scandals. True Explanation Global Business Ethics. B. a failure of leadership to establish ethical standards. Trustworthiness. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. Are Workplace Politics Destroying Your Business? ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. \text{Variable manufacturing overhead} & \text{0.60}\\ 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. Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. This is an example of corporate: 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. (A) matter very little to employers [B] allowing management to decide the outcomes of investigations D. fail to earn sufficient profits for their owners. The moral and ethical standards by which leaders are judged are far stricter than in the past. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations.
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