Often, business ethics involve a system of practices and procedures that help build trust with the. create an open-door policy, protect them from retaliation 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? She was even _____ after her solo than before. These examples of ethical behaviors ensures maximum productivity output at work. [D] businesses with good reputations attract customers. (B) it attracts and retains customers 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. Ethical behavior can have negative consequences to the bottom line in the long run. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. ", Corporate social responsibility is when businesses are concerned 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. C. energy consumption Research into ethics and business performance has shown the two are linked in some important ways. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Multiple choice question. Business Ethics - Stanford Encyclopedia Of Philosophy (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: A. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. A. Internet Its premise is based on integrity, fairness, and respect for others. building parks Socially conscious investors insist that a company extend its own high standards to its ____________________. Top management 1. Rohit Sharma - Lead Technical Product Manager - LinkedIn (C) gains for investors in 2008 and 2009 In the long run, they believe Which of the following are reasons a business should be managed ethically? B. being socially responsible is all about being ethical. How can. [B] it increases the likelihood of government intervention A. guilt payments. Deceptive advertising of medicines and toys ___________ __________ ______________is a business's concern for the welfare of society. [D] severe financial crises. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . D. guideline. How does the action I am proposing to take make me feel about myself? setting a good example. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. corporate responsibility social media. [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is Example 1. corporate beneficial management First and foremost, father of 5 and grandfather to 3.<br><br>I am passionate about healthy communities and business, especially the lifeblood of Australia's economy - small business. An important factor in enforcing an ethics code is: 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. retaliation This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. Complete each sentence with the comparative or superlative form of the modifier in parentheses. C. a loss of employee commitment and trust in the company and its management. [A] To attract customers A business should be managed ethically for many. hiring only women and minorities not concerned with the ethical or socially responsible behavior of their international suppliers. D. Integrity watchdog. 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. Companies that participate in CSR typically have more loyal employees and customers. higher ethical standards than in the past. After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. Multiple Choice Ethics are the standards of right and wrong set for us by society, whereas legality refers to. [C] allows them to reach specific groups more directly A Understanding that individual moral standards, the influence of managers and coworkers, and (C) occur in many countries True Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. 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. [B] share all information with managers when requested This includes managers and subordinates, peers and clients. the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. E. law. It does not subtract from the bottom line; it adds to it. Is it acceptable if everyone else is doing it? Which of the following are reasons a business should be managed ethically? [A] it reduces employee turnover Written ethics codes can be categorized as List the most influential on top. Thinking Ethically - Markkula Center for Applied Ethics Italian Stallion stockholders got a very fair deal for the stock they owned in the company. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. 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. The owners of Good Eats Restaurant in St. Louis drove several hours with a van of employees, equipment, and food to donate what they could to help the storm victims. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. Reevaluating its ethics codes based on the input of its customers. False. Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. Prepare computations showing how much profits will increase or decrease as a result of making the starters. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". In the long run, CSR enhances profits. (B) it is using investors' money in ways they did not intend A business should be managed ethically for many reasons to maintain a good. retain better employees 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. secondary market companies. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. What Are Business Ethics and Why Are They Important? Another reason why business ethics is important is that it can improve profitability. Target is a business. Ethical Definition & Meaning - Merriam-Webster When Paulsen describes Storm, he also gives clues about his own personality. enjoy greater employee loyalty Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. 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. about being fair and honest with their stakeholders Supports ethically sound behavior Everyone with whom the business has dealings. D. shift the production of goods to foreign facilities and layoff Canadian workers. A. Whistleblower Paying employees on specified pay dates most of the time. Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. HR Ethical Dilemmas - SHRM Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Chapter 4. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. Fraud The firm has evolved into a big business due to quality and innovative work. D. employee retaliation by doing the minimum needed to get by. "It's an ongoing phenomenon that must be better understood and managed and . Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. Which of the following describes charitable donations by corporations to nonprofit organizations? C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. Ch 4 Flashcards | Quizlet That person called five of his relatives and several friends. leaving unethical behavior unpunished Unethical behavior by financial and real estate businesses has led to Additionally, business ethics can help to build trust between the organization and its stakeholders. Business ethics concerns ethical dilemmas or controversial issues faced by a company. 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. allows them to reach specific groups more directly, allows them to connect directly with customers 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. Business ethics isnt always exalted in every workplace, but its critically important when it comes to providing customers with quality service, adhering to regulatory compliance standards, and avoiding steep fines and lawsuits. standards. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. increased financial donations to local areas but pulled away from national and global contributions. C. Increased penalties for code violators. Morality codes Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. D. companies who are perceived as being socially responsible will ultimately earn more profits for their (B) going to save money by not hiring those who are disabled _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. insider trading. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is Businesses should create and display their code of ethics publicly. social justice. Maximizing ethical conflict in work groups Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. Which of the following is not one of the approaches associated with corporate social responsibility? A. reduced employee turnover. 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. Those who have others interests in mind when they make decisions are displaying ethical behavior. integrity-based 051-Methods for Designing Ethical, Human-Centered AI with Undock Head Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. Full-time co-workers Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. And could be pivotal for career growth. B. Whistleblowing C. Plagiarism Which of the following is a reason why a business should be managed Trust and cooperation between workers and managers must be based on which of the following? social audit. C. Accounting fraud U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. Though discrimination and harassment laws have been put in place and continue to be updated . B. improve corporate profits. B. varies even among those who are interested in corporate responsibility. Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. . 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.
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