___________ __________ ______________is a business's concern for the welfare of society. Multiple select questions. Community members are bound by the pursuit of common values and goals. That person called five of his relatives and several friends. Which of the following is the BEST reason for a business to be managed ethically? [B] They may choose to cancel orders when there are human rights abuses. lower ethical standards than in the past. a written code of ethics Motivation. B Business Ethics - Overview, Examples, Components of Business Ethics B. philanthropy. Multiple Choice What kind of person do you think Paulsen is? \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ (D) long jail terms for those who acted unethically. Sarbanes-Oxley Ruling It is actually a structure of moral principles and code of conduct applicable to a business. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility [A] few losses to investors Strict global regulations require it. Explanation 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. Written ethics codes can be categorized as A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: 360-review. An ethical business will get your employees to respect your company . There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. [B] passing laws to make accounting records more transparent D. help investors recoup their losses. B. ability to plan for the unexpected. pro-current procurement. Depreciation is due to obsolescence rather then wear and tear. Multiple Choice To attract customers To avoid lawsuits To maintain a good reputation Making decisions that we know are different from what is right erodes our self-esteem. C. often experience customer loyalty problems. Multiple select question. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: Multiple choice question. 051-Methods for Designing Ethical, Human-Centered AI with Undock Head Periodically asking every employee to evaluate the company's ethics performance. U.S. companies tend to overlook and forget human rights abuses abroad. (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] Bribery D. fail to earn sufficient profits for their owners. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. 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. A. protecting the owners' rights and investments. (C) benevolence is the highest virtue Multiple choice question. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Whistleblowers are insiders who report illegal or unethical behavior. Emphasizes strong penalties for wrongdoers Business Should Always Be Ethically and Socially Responsible __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. C. Operational initiatives C. Research practices draw more customers, Many investors believe (D) businesses cannot succeed in societies that fail. (A) it prevents government audits A. code of ethics. Corporate philanthropy Another reason why business ethics is important is that it can improve profitability. employees and internal public relations Business Ethics - Quick Guide - tutorialspoint.com 3 Reasons Why Business Ethics Is Important - Redlands Explanation C. teamwork eliminates a need for personal ethics. (C) to increase employee turnover \text{Direct labor} & \text{2.70}\\ Multiple Choice Defines an organization's guiding principles. 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. 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. There are a wide variety of examples of ethical behavior in the workplace. 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 . A. Part-time co-workers. With respect to business ethics, it can be said that "it takes two to tango." For example, international bank HSBC was subject to a decade-long enforcement action costing it $1.92 billion after the federal government determined the institution violated money-laundering laws and sanctions rules. A. profits. enjoy greater employee loyalty Which of the following should help reduce the incidence of unethical behavior in an organization? B. Many companies [A] They will bribe local officials to change their policies. Top management is essentially conducting a(n) (B) it attracts and retains customers Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. Organizational ethics begins Multiple Choice at the top levels of management. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are social order ethics 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. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. Everyone with whom the business has dealings. Multiple Choice the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. social audit. Multiple Choice \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ socialism asking suppliers to lower their standards to be in compliance with In the workplace, there might be a standard for ethics set throughout the company. When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. Then, of course, there are the more serious consequences of highly unethical behavior. \end{matrix} varies among those who are interested in corporate responsibility. 8 Current Ethical Issues in Business (and How to Manage Them) Which of the following were not identified as being fundamental to the CSR definition? Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. higher ethical standards than in the past. [C] Paying U.S. minimum wage Integrity-driven ethics codes Shared accountability among employees. B. maintaining proper accounting procedures. 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. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. [C] it reduces the likelihood of lawsuits by employees or customers separating themselves from suppliers who violate. many Americans decide what's ethical based upon the situation in which they find themselves. Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? Trustworthiness. standards. About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition Why Are Business Ethics Important? A Guide - Investopedia Explanation A high ethical standard extends to customers as well. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. This will ensure that you have trustworthy employees working for you. 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. A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . Study 19 Terms | Philosophy Flashcards | Quizlet Customers Strategic partnering Ethical Definition & Meaning - Merriam-Webster These define the company's guiding values, and most often it involves shared accountability. Businesses must abide by some basic principles. Supervisor 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. Government and business leaders are being held to Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. However, anyone caught violating a law will be immediately fired." Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. whistleblowers A. Whistleblower
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