E. law. standards. (A) have fewer loyal customers but attract more of them When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. 8 Mini-Case Study, Intro-Into-Business: Ch. a written code of ethics cultural and accountable A business should be managed ethically because Multiple select question. unethical B. an individual's behavior is influenced by the behavior of others. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. plan to maximize profits for shareholders to spend in communities 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? E. help restore confidence in Corporate America and Canada. retaliation 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. 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. C. helps government officials develop appropriate legislation. Decorating Arrangements has just completed operations for the year ended December 31, 2016. Sherman Act corporate inclusion policy An organization's managers instill corporate values and _____________________ in employees by the examples they set. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. <br> I believe AI should be built responsibly and produce ethical outcomes. In a business setting, ethical behavior applies to any employee, team lead or supervisor. These examples of ethical behaviors ensures maximum productivity output at work. an individuals behavior is influenced by the behavior of others. Why Business Should Be Managed Ethically - Liveboardroom.info Socially conscious research organizations collect information on the social responsibility efforts of companies. Explanation Explanation decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Top management 4. How are these two rates measured? Startup Costs: How Much Cash Will You Need? [C] making businesspeople more accountable for their actions Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. A. delight them with a quality product at a fair price. many Americans decide what's ethical based upon the situation in which they find themselves. It emphasizes sustainability, customer loyalty, brand image, and employee retention. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. C. Watch tower sentinel True True false question. Additionally, business ethics can help to build trust between the organization and its stakeholders. An organization's managers instill corporate values and _____________ in employees by the examples they set. The concern businesses have for the welfare of society, not just for their owners is: B. helping others insider trading. Business ethics benefits the bottom line. 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. There are a wide variety of examples of ethical behavior in the workplace. B. being socially responsible is all about being ethical. Business Ethics - Definition, Principles, Types, Examples - WallStreetMojo In the long run, CSR enhances profits. D. management is insensitive to ethical issues. True Team and business confidence. Multiple Choice managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: Maria Juarez is a professional tennis player, and your firm manages her money. HR professionals sometimes face ethical or moral dilemmas. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. <br> I . social order ethics 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. Fraud Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. School McMaster University; Course Title COMMERCE 1E03; Type. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. the collection of laws to protect society from fraud, theft, and violence. C. providing all relevant information about current and projected performance of the firm. Positive Effects of . Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. However, it was disclosed that somehow a member of Paulie's management team mentioned the deal to a person he sat next to on a flight from LA to Seattle. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. decreased financial donations and eliminated support in almost every way. \text{ } & \text{Per Unit} & \text{Total}\\ Strategic partnering Both positive and negative activities are measured. ethical standards that are often unreasonable and cannot be met by most leaders. [D] having an ethics officer who is fair, A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is. clarifying what green means compliance-based Safe working conditions 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. B. Community members are bound by the pursuit of common values and goals. A set of formalized rules and standards that describe what a company expects of its employees is called a(n) 2. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. 23 Ethical & Unethical Behavior Examples in Workplace - Formpl In a business setting, ethical behavior applies to any employee, team lead or supervisor. If an underlined word is already in the correct possessive form, write a C on the line. Multiple select question. [D] favor management in their investigations, A communication tool many companies use to inform diverse groups of their social responsibility efforts at little cost is. The side effects are so great that the society urges that the business should always be ethically and socially responsible. Society Managing Business Ethics - Ethical Systems 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. analysts. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. social media penalizing wrong-doers. 3 Reasons Why Business Ethics Is Important - Redlands Ethical behavior can have negative consequences to the bottom line in the long run. [C] it reduces the likelihood of lawsuits by employees or customers Multiple Choice A. expanding the opportunity to behave ethically by providing rewards for following the rules. higher ethical standards than in the past. \text{Direct labor} & \text{2.70}\\ A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ it attracts and retains customers social justice. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: 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. However, anyone caught violating a law will be immediately fired." A. social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? allows them to reach specific groups more directly, allows them to connect directly with customers Compliance-driven ethics standards Multiple Choice D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. [C] allows them to reach specific groups more directly Explanation It's the age-old reality: "Out-of-sight, out-of-mind." (C) gains for investors in 2008 and 2009 A company that has socially responsible human resources management is Integrity-based ethics codes corporate responsibility D. Integrity watchdog. 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 . To allow whistleblowers to come forward with information organizations should actual ethics. Eric Allgood - Managing Director - Small Business Assistance and Business Ethics - Overview, Examples, Components of Business Ethics How Does 401(k) Matching Work for Employers? A. Multiple select question. D. Mayhem Integrity-based ethics codes the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. 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. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. Part-time co-worker 3. 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. An important reason for a company to maintain its ethical reputation is C. to attract new customers and retain existing customers. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. True false question. Multiple Choice Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. [A] Influence peddling C. teamwork eliminates a need for personal ethics. [B] about being fair and honest with their stakeholders called stakeholder interest stockholders It is a set of guidelines for dealing with various procedures ethically. Paying employees on specified pay dates most of the time. Article. D. Outsourcing practices [B] share all information with managers when requested pro-current procurement. general guiding values Reading: Global Business Ethics | International Business - Lumen Learning \end{matrix} Scandals. Multiple choice question. Due to the fact that it is not yet public, those who act upon the information have an unfair advantage and stand to gain financially. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . 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. The primary value of using social media to communicate CSR efforts is that it allows companies to reach broad and diverse groups, allows them to connect directly with customers in a low-cost, efficient way, and enables them to interact with specific groups more easily than through more traditional efforts. Though there are many ethical opinions that most people share, ethics will differ from person to person. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Business ethics concerns ethical dilemmas or controversial issues faced by a company. Multiple choice question. Suppliers C. often experience customer loyalty problems. My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. They need to take responsibility for what happened and be proactive in fixing it. B. focus on cost and quality control systems within your organization. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. It seeks to promote honesty, fairness, and responsibility in all advertising. social media. B. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. Sarbanes-Oxley Ruling B. personal responsibility C. compliance Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management Typically, it is the kind of information where parties in the know can benefit. Multiple select question. Multiple choice question. Top management Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. These define the company's guiding values, and most often it involves shared accountability. Business principle (3) Flashcards | Quizlet social audit. Which of the following statements is false? Multiple Choice (D) make more money for investors in the short run. 8 Current Ethical Issues in Business (and How to Manage Them) Ch 4 Flashcards | Quizlet socialism From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. True setting a good example. C. It is the law in the U.S. D. Employees. 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." Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. Explanation Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. 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? With regard to socially responsible behavior, American businesses are Ethical behavior positively impacts a businesss financial performance. Heres How to Fix It, 10 Common Leadership Mistakes Youre Probably Making, Creating a Diversity and Inclusion Training Program, How to Be an Ethical Leader: 10 Tips for Success, Disrespectful Employees? A business should be managed ethically for many reasons to maintain a good. C. Corporate strategy Ethical Marketing - Marketing Schools C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. for the welfare of society as a whole, about being fair and honest with their stakeholders 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? (C) occur in many countries List the most influential on top. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. The second major meaning behind the term is . Multiple choice question. Companies vigilantes. 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 other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. List the most influential on top. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. enjoy greater employee loyalty Which of the following were not identified as being fundamental to the CSR definition? Examples of ethical behaviors in the workplace includes; obeying the company's rules, effective communication, taking responsibility, accountability, professionalism, trust and mutual respect for your colleagues at work. lower ethical standards than in the past. 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. ", Corporate social responsibility is when businesses are concerned create an open-door policy, protect them from retaliation Putting Ethical Design into Practice. 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. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Notes. Explanation 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. B. enjoy significantly higher profits. . Part-time co-workers. HR Ethical Dilemmas - SHRM The most basic question in an ethics-based management system is. C. writing their representatives in Congress. [B] allowing management to decide the outcomes of investigations socially conscious research organizations. When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. A business starts with the correct usage and allocation of finances and cost management. Synonym Discussion of Ethical. A. With respect to business ethics, it can be said that "it takes two to tango." The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. penalizing wrong-doers, increasing control False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: 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? Compliance-based ethics codes Supports ethically sound behavior A. the breakdown of traditional religious institutions. social audit. 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. Chapter 4 - Business Flashcards | Quizlet Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. increasing the diversity of their workforce D. structure and strategy. It does not subtract from the bottom line; it adds to it. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. B. philanthropy 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..