When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. E. law. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. [D] To avoid lawsuits, Effective ethics officers: Prepare computations showing how much profits will increase or decrease as a result of making the starters. enjoy greater employee loyalty An important reason for a company to maintain its ethical reputation is [B] about being fair and honest with their stakeholders Decorating Arrangements has just completed operations for the year ended December 31, 2016. A well-implemented ethics program can also reduce losses. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? B. the police in jurisdictions where the business has operations. benevolence can lead to a vote of no confidence by company stakeholders. Organizational ethics begins Multiple Choice at the top levels of management. A. reduced employee turnover. (A) have fewer loyal customers but attract more of them C. providing all relevant information about current and projected performance of the firm. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are B. because strict global regulations require it. Giving back to society Example 1. 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? [C] making businesspeople more accountable for their actions An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. retaliation Multiple choice question. social order ethics D. varies from industry to industry. (D) occur in only a few countries. A business should be managed ethically for many reasons to maintain a good. 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. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? D. shift the production of goods to foreign facilities and layoff Canadian workers. draw more customers, retain better employees Italian Stallion stockholders got a very fair deal for the stock they owned in the company. Top management must adopt and support a corporate code of conduct. C. Increased penalties for code violators. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Reevaluating its ethics codes based on the input of its customers. social impact program. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ A. Suppliers Full-time co-workers 3. analysts. Explanation Explanation \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. (D) going to lose money by providing pay raises, A business should be managed ethically because A. Explanation \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ 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? D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. Which of the following would least likely involve ethical concerns? 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. List the most influential on top. Multiple choice question. Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. corporate inclusion policy When there is a base level of respect established, people take criticism less personally, are able to communicate more openly, and can see and value the other persons perspective. Ethical behavior does not matter to investors. providing safety equipment and training for their workers, increasing the diversity of their workforce 360-review. Supervisor 4. ethical officers E. help restore confidence in Corporate America and Canada. increased their financial donations because they understood how badly society needed a helping hand. [D] severe financial crises. It is an act that is against the law and against Securities and Exchange Commission policy. Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. Explanation How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. Integrity-driven ethics codes C. Corporate strategy 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.. (B) going to save money by not hiring those who are disabled Business Ethics refers to carrying business as per self-acknowledged moral standards. It's the age-old reality: "Out-of-sight, out-of-mind." (D) 3 out of 4 citizens volunteer, but cheat on their taxes, Using information from the internet or other sources without giving credit to the author is, The strong relationship between academic dishonesty and dishonesty at work is likely to D. expanding the opportunity to behave ethically by providing punishments for following the rules. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. C. helps government officials develop appropriate legislation. [C] can be trusted to maintain confidentiality Product safety Management ethics can factor into issues including coworker interactions, conflicts of interest, customer safety, honest advertising, customer information security and the responsible use of corporate resources. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. One strategy guaranteed to displease your customers is to: With respect to business ethics, it can be said that "it takes two to tango." A business starts with the correct usage and allocation of finances and cost management. The second major meaning behind the term is . By being ethical, leaders can foster an environment that rewards and encourages good attitudes. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. The employment of ethical business practices can enhance overall corporate health in three important areas. socially conscious research organizations. Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; To allow whistleblowers to come forward with information organizations should 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. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be aggregate independent appraisal. Packaging requirements Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. (A) 3 out of 4 citizens do not give any time to the communities in which they live Which of the following would be a unique focus of an integrity-based ethics code? What kind of person do you think Paulsen is? draw more customers, Many investors believe B. Whistleblowing C. Plagiarism My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. 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. fascism 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. All else held equal, socially responsible firms: A. are viewed more favourably by consumers. C. moral philosophy. going to save money by not hiring those who are disabled Team and business confidence. $A supervisor would have to be hired to oversee production of the starters. that they can improve their own financial health by investing in companies whose goods and services benefit the community social media Sarbanes-Oxley Ruling [D] businesses with good reputations attract customers. managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: [C] Paying U.S. minimum wage 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 . Unethical behavior by financial and real estate businesses has led to Multiple Choice it attracts and retains customers It is the right thing to do. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. In a business setting, ethical behavior applies to any employee, team lead or supervisor. Explanation ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. 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. This is an example of corporate: In the long run, CSR enhances profits. B. disgruntled workers manipulating budgets and expenses. [D] allows them to connect directly with customers. Defines an organization's guiding principles. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. an individuals behavior is influenced by the behavior of others. lose sales revenues [A] few losses to investors However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. Explanation Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. 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. acquisition stalking. Which of the following is NOT a part of an integrity-based ethics code? Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility D. Improved awareness of the relevant laws. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Periodically asking every employee to evaluate the company's ethics performance. social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. social audit. Explanation ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. increasing the diversity of their workforce a clear set of rules and regulations of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition These steps included creating a climate based on service quality and ethical behavior that guides employees without direct supervision, taking corrective actions before unethical behaviors occur by periodically measuring employees perceptions of the companys ethical climate, and emphasizing the importance of service quality and ethical behaviors as they relate to competition in the marketplace. An appearance of conflict exists when a reasonable person looking at the situation from outside (and without personal knowledge of anyone involved) will conclude from the circumstances that the employee's ability to perform his or her duties may be compromised by personal interest. Though there are many ethical opinions that most people share, ethics will differ from person to person. 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. The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. Therefore, it is the most significant resource to run or upgrade any business. 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. 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. A business should be managed ethically because Multiple select question. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Written ethics codes can be categorized as [A] for the welfare of society as a whole B. opportunity. Multiple select question. How can. opportunity influence ethical behavior Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? [C] allows them to reach specific groups more directly The majority of CEOs blame unethical employee conduct on: \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. firms should take added caution not to support government programs that protect the environment. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . A company's effectiveness and financial performance are most affected by responsible _________ _________ management. 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. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? (B) have higher turnover 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. And could be pivotal for career growth. [D] Political risk taking. The total rent on the plant is$80.000 per period. Both positive and negative activities are measured. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. E. Employee benefit programs.