promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: enjoy greater employee loyalty True false question. In fact they contribute to it: 1. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are C. Operational initiatives Which of the following is the BEST reason for a business to be managed ethically? 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. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: Synonym Discussion of Ethical. corporate responsibility Multiple Choice D. companies who are perceived as being socially responsible will ultimately earn more profits for their Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. D. the nation's business schools that tolerate unethical behaviour in students. \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ Business ethics helps to optimize company resources. Strategic partnering By being ethical, leaders can foster an environment that rewards and encourages good attitudes. . You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. _____________________ _____________________ _____________________is a business's concern for the welfare of society. Demanding Ethical and Socially Res, Intro-Into-Business: Ch. whistleblowers C. Accounting fraud True Business ethics benefits the bottom line. (C) make students who know how to plagiarize well acceptable to employers Economics (/ k n m k s, i k -/) is the social science that studies the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work. statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility enjoy greater employee loyalty A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. What occurs when an employee exposes an employer's wrongdoing to outsiders? It does not subtract from the bottom line; it adds to it. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: shareholders Multiple Choice [A] for the welfare of society as a whole unethical Socially conscious research organizations collect information on the social responsibility efforts of companies. Multiple select question. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. only with their responsibility to their shareholders Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. D. fail to earn sufficient profits for their owners. Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. Today, as many Americans (64%) say that a company's "primary purpose" should include "making the world better" as say it should include "making money for shareholders." B. helping others 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 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. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. C. Education and training C. all levels of management. C. Increased penalties for code violators. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ 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. C. Corporate strategy [B] it increases the likelihood of government intervention Article. To manage these risks and the ethical obligations they imply, CDOs should work on developing institutional practices for continual learning and interaction with external experts. 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. C. teamwork eliminates a need for personal ethics. E. all of the answers are correct. CSR can lead to even more profits. because strict global regulations require it Corporate values are: D. integrity. [C] lack of trust in the free market system Ethical behavior means your team operates according to fair and transparent standards, not just complying with legal rules or regulatory requirements, but going above and beyond to ensure decisions are applied through an ethical lens. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. Multiple Choice D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and Organizational ethics begins Multiple Choice at the top levels of management. Studies have found a _____ correlation between academic dishonesty and dishonesty at work. C. help laid-off employees get their jobs back. D. Outsourcing practices C. teamwork eliminates a need for personal ethics. Ethical behavior can have negative consequences to the bottom line in the long run. [B] They may choose to cancel orders when there are human rights abuses. increased their financial donations because they understood how badly society needed a helping hand. TV ads D. to please customers, employees, and society. Suppliers reducing most costs allows them to reach specific groups more directly, allows them to connect directly with customers Target is a business. An important reason for a company to maintain its ethical reputation is 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. Supervisor 2. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. A. delight them with a quality product at a fair price. 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? Emphasizes strong penalties for wrongdoers it attracts and retains customers Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. "It's an ongoing phenomenon that must be better understood and managed and . Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. A. guilt payments. _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. C. structure and strategy. Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. Which of the following should help reduce the incidence of unethical behavior in an organization? Multiple choice question. (D) long jail terms for those who acted unethically. [C] can be trusted to maintain confidentiality Multiple choice question. (B) 3 out of 4 citizens think they should be paid for their volunteer work integrity-based Supervisor 4. (D) going to lose money by providing pay raises, A business should be managed ethically because Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? (C) occur in many countries (C) attract and retain better employees Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. 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. 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. higher ethical standards than in the past. many Americans decide what's ethical based upon the situation in which they find themselves. (C) likely to perform worse financially D. structure and strategy. Research has shown that companies engaged in corporate social responsibility (CSR): social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Explanation Workplace and colleague wellbeing. A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . [A] it reduces employee turnover Explanation allow for complete anonymity China is a communist country. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. called stakeholder interest The business term we use to describe this philanthropic action is ___________________, where a company donates what it does best to help make a situation better. a clear set of rules and regulations The most basic question in an ethics-based management system is. Supports ethically sound behavior Many companies Corporate responsibility Multiple choice question. 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. 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. C. practice deception regarding product safety issues. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. True Multiple choice question. Mistakes and misunderstandings are bound to happen in any work setting. Written ethics codes can be categorized as The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) 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. B. [A] is costly, but worthwhile in reaching specific customers Top leaders from other countries have been charged with bribery. Dont make ethics an afterthought in your company culture. D. Improved awareness of the relevant laws. A. 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. I'm a Product Manager with experience working cross-functionally with business roles (e.g. [B] passing laws to make accounting records more transparent How Does 401(k) Matching Work for Employers? My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. Ethics are the standards of right and wrong set for us by society, whereas legality refers to. Explanation Ethical behavior positively impacts a businesss financial performance. social media. Ethical behavior has significant upfront costs which may never be recovered. [A] relate well to employees at all levels Corporate policy refers to the position a firm takes on ______________ and __________________ issues. 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 . 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. She has asked you to give her information about what determines the level of various interest rates. Are Workplace Politics Destroying Your Business? However, anyone caught violating a law will be immediately fired." Which of the following would least likely involve ethical concerns? ignoring both ethical and unethical behavior stockholders Maria Juarez is a professional tennis player, and your firm manages her money. Your boss has prepared some questions for you to consider. In the study, researchers determined that a higher quality of service positively impacted business operations when ethical adherence was also high. E. help restore confidence in Corporate America and Canada. Which of the following represent examples of how corporations set positive standards of ethical behavior? It could also mention specific protocol within the business. Multiple choice question. corporate social initiative Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. Multiple Choice corporate policy This is an example of corporate: 2. D. maximizing their investment in the firm. Internal Audit Company Protection Act (C) 4 out 5 citizens volunteer an hour each week Explanation opportunity influence ethical behavior Explanation 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. 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? \text{Direct labor} & \text{2.70}\\ This is especially so when the market is very competitive, because then the customers have a lot of options and could switch to another product or service provider.. <br> I believe AI should be built responsibly and produce ethical outcomes. Stresses shared accountability Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. This will ensure that you have trustworthy employees working for you. [D] allows them to connect directly with customers. Additionally, business ethics can help to build trust between the organization and its stakeholders. Top management 1. [C] it reduces the likelihood of lawsuits by employees or customers How can. 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. 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: technical policy actual ethics. Multiple choice question. With regard to socially responsible behavior, American businesses are increasing the diversity of their workforce If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: What motivated the unethical behavior of real estate agents, lenders, and borrowers that led to the financial crisis of 2008? B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and Multiple Choice DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. D. varies from industry to industry. Companies that participate in CSR typically have more loyal employees and customers. Positive Effects of . 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. D. short run profit maximization. Economic conditions in some developing countries make child labor a necessity for the survival of families. Specific decisions made by your organization, whether by an individual or the entire group, can have a massive impact on how your company is viewed and the reputation it cultivates for itself. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Safe working conditions B. because strict global regulations require it. In a business setting, ethical behavior applies to any employee, team lead or supervisor. punishing unethical behavior and rewarding ethical behavior privately The firm has evolved into a big business due to quality and innovative work. The amount of pollutants a firm unleashes into the environment would serve as an example of a negative activity that would be included in the social audit measurements. In "Two Kinds," how does the narrator feel after the talent show? Multiple choice question. Companies 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 Multiple select question. [B] about being fair and honest with their stakeholders it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? Dodd-Frank Wall Street Reform and Consumer Protection Act Is it acceptable if everyone else is doing it? A high ethical standard extends to customers as well. Tejas Vemparala also contributed to this article. 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 . 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) ? 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. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. information technology The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. B. personal responsibility C. compliance separating themselves from suppliers who violate. The ethics code must be enforced. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? Multiple choice question. There are a wide variety of examples of ethical behavior in the workplace. (A) likely to perform better financially social impact program. D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. The second major meaning behind the term is . Supervisor Business ethics concerns ethical dilemmas or controversial issues faced by a company. Codes of ethics foster ethical behavior by In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. 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? A. protecting the owners' rights and investments. Fraud 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. Example 1. It may just be the cornerstone of your success. B. disgruntled workers manipulating budgets and expenses. Compliance-driven ethics standards In a business setting, ethical behavior applies to any employee, team lead or supervisor. [D] businesses with good reputations attract customers. Top management must adopt and support a corporate code of conduct. Chapter 4. Which of the following would be a unique focus of an integrity-based ethics code? Trust and cooperation between workers and managers must be based on which of the following? E. filing complaints with the company. Which of the following statements reflects the difficulty companies face when requiring international suppliers to follow environmental and human rights standards set by U.S. firms? This is called a bounty provision because as stated, they may receive a monetary award for their actions. Multiple choice question. 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. That person called five of his relatives and several friends. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. [A] outsourcing enforcement of the laws to private firms [D] severe financial crises. D. employee retaliation by doing the minimum needed to get by. asking suppliers to lower their standards to be in compliance with Multiple choice question. In running a successful business, a key factor in that success will be the ethical and moral standards of yourself, your leaders, and your entire team. Ethical behavior includes honesty, fairness, integrity and understanding. Resource procurement and consumption practices it reduces laws and regulations The total rent on the plant is$80.000 per period. C. business exists only to make money for shareholders. Which of the following are reasons a business should be managed ethically? Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? A. the breakdown of traditional religious institutions. Multiple Choice demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Paying employees on specified pay dates most of the time. 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. 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. B. philanthropy. . likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." customers \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ 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. school districts The benefit of using __________ to communicate a business's CSR efforts to the public is that it allows companies to reach broad and diverse groups directly in a low-cost, efficient way. investors. D. buying the company's products. 2. Complete each sentence with the comparative or superlative form of the modifier in parentheses. Prepare computations showing how much profits will increase or decrease as a result of making the starters. C. diversity B. improve corporate profits. Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. C. often experience customer loyalty problems. It seeks to promote honesty, fairness, and responsibility in all advertising. Multiple choice question. Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. D. Integrity watchdog. True 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. formal and informal. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: [C] allows them to reach specific groups more directly Whistleblowers are insiders who report illegal or unethical behavior. It is a set of guidelines for dealing with various procedures ethically. 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. Multiple Choice Integrity-driven ethics codes Many businesses believe that they should have an influential and important role in: Societies set the standards for moral behavior, known as, About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through __________ work. allows them to reach specific groups more directly. Which of the following were not identified as being fundamental to the CSR definition? Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. that they can improve their own financial health by investing in companies whose goods and services benefit the community social initiatives integrity-based ethics help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? Explanation A. reduced employee turnover. D. management is insensitive to ethical issues. A. Internet B. Whistleblowing C. Plagiarism The employees of a corporation are stakeholders who are affected by management practices. Multiple Choice E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? Customers Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. ", Corporate social responsibility is when businesses are concerned Multiple choice question. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues.