Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility Multiple Choice D. buying the company's products. B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and Multiple Choice Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. To allow whistleblowers to come forward with information organizations should Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. 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 number of ethical scandals in the past decade have raised awareness of ethical issues in business. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Which of the following is NOT a part of an integrity-based ethics code? \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. Whistleblowers are often concerned about retaliation. Codes of ethics foster ethical behavior by \end{matrix} She has asked you to give her information about what determines the level of various interest rates. allow for complete anonymity ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. investors. [C] only to compete and make a profit Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. Top management an individual's ethics C. providing all relevant information about current and projected performance of the firm. In the following sentence, circle the subject of the underlined verb. Explanation Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Ethical management generates trust, and trust increases productivity. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ pro-current procurement. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. The total rent on the plant is$80.000 per period. Corporate social responsibility is based on a D. companies who are perceived as being socially responsible will ultimately earn more profits for their U.S. law does not require U.S. firms to comply because of competitive advantage concerns. internal investigation. \text{Total production cost} & \text{\$ 9.20}\\ Ethical issues are limited to for-profit organizations. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. 1. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? human resource support staff allows them to reach specific groups more directly, allows them to connect directly with customers Putting Ethical Design into Practice. (B) it attracts and retains customers A. guilt payments. 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. responsibility This sort of behavior is not limited to the workplace; it can be present in every facet of life. If the verb is already correct, write C above it. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? B. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: (A) it prevents government audits (C) likely to perform worse financially Which of the following are true regarding ethical behavior? Integrity-driven ethics codes B. Supports ethically sound behavior higher ethical standards than in the past. Explanation A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. (A) 3 out of 4 citizens do not give any time to the communities in which they live Ethical behavior has significant upfront costs which may never be recovered. Increased control over employee actions. The ethics code must be enforced. called stakeholder interest As a philosophy, ethics are the principles that guide a person's behaviour. In the long run, they believe Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. 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. 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. E. all of the answers are correct. . D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? Top management at Lancer Distributing is convinced that they have a social responsibility to their community. This will ensure that you have trustworthy employees working for you. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. Top management 1. (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: It emphasizes sustainability, customer loyalty, brand image, and employee retention. varies among those who are interested in corporate responsibility. Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. (B) have higher turnover 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." Amber was observing an example of the ___________ followed at this organization. From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. 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. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. Multiple Choice [B] share all information with managers when requested allows them to reach specific groups more directly. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . insider trading. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. Multiple choice question. Here are five reasons why you should keep things legal and follow business ethics in accounting. B. personal responsibility C. compliance The mortgage bankers and real estate companies who helped create the financial crisis of 2008 were driven by, Financial and political leaders can restore trust in the free market system by: Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. A. Organizational ethics begins Multiple Choice at the top levels of 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. 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, Chapter 18 APUSH The Victorian Era 1880-1917. offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. Part-time co-worker 3. Which of the following would least likely involve ethical concerns? [A] it reduces employee turnover Team and business confidence. A. protecting the owners' rights and investments. 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. corporate responsibility A high ethical standard extends to customers as well. Which of the following are examples of outside stakeholders that must be told about a company's ethics program? The findings reveal that quality service and an ethical business plan are essential to long-term business success. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: socially conscious research organizations. help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Jake knew that several other employees followed strict company policy every day and always wore their headgear; yet, they were not being acknowledged for their compliance. 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. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ The concern businesses have for the welfare of society, not just for their owners is: 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. Multiple Choice Society A. Whistleblower internal search and occupy organizations. Customers enjoy greater employee loyalty 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. "It's an ongoing phenomenon that must be better understood and managed and . C. energy consumption Other countries also follow capitalist principles. It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. Strategic partnering A set of formalized rules and standards that describe what a company expects of its employees is called a(n) requiring suppliers to be evaluated monthly concerning You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Multiple Choice Explanation A company that has socially responsible human resources management is 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? How to Get a Bank Loan for Your Small Business, How to Conduct a Market Analysis for Your Business, Guide to Developing a Training Program for New Employees. 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 Multiple select question. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. B. focus on cost and quality control systems within your organization. [B] They may choose to cancel orders when there are human rights abuses. Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. B. D. Outsourcing practices The corporate scandals can hurt the reputation of firms, the interests of investors and stakeholders, welfare of employees, the life damage or property losses of customers and the damage of environment. Which of the following is not one of the approaches associated with corporate social responsibility? Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Companies Source interviews were conducted for a previous version of this article. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? How can. he many small choices we make daily about working or goofing off, using company phones and computers responsibly, and following safety rules, make it clear that ____________________decisions start with each individual. A. Which of the following were not identified as being fundamental to the CSR definition? global policy C. Watch tower sentinel 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. 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. Explanation Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. Compliance-based ethics codes focus on: Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? 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. Research has shown that companies engaged in corporate social responsibility (CSR): The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Unethical businesses also lose favor with consumers. E. help restore confidence in Corporate America and Canada. When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. C. It is the law in the U.S. D. Employees. Business ethics helps to optimize company resources. Multiple Choice Employees and management alike can work together to create businesses that have high standards. \text{Direct labor} & \text{2.70}\\ A. reduced employee turnover. whistleblowers. Explanation D. the nation's business schools that tolerate unethical behaviour in students. 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 . In a business setting, ethical behavior applies to any employee, team lead or supervisor. Notes. Multiple select questions. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . It seeks to promote honesty, fairness, and responsibility in all advertising. (D) occur in only a few countries. Resource procurement and consumption practices B. 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. [C] lack of trust in the free market system \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ 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. Multiple choice question. school districts B. enjoy significantly higher profits. communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: B. an individual's behavior is influenced by the behavior of others. Internal Audit Company Protection Act These define the company's guiding values, and most often it involves shared accountability. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ C. helps government officials develop appropriate legislation. [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. Discrimination and Harassment. It is an act that is against the law and against Securities and Exchange Commission policy. Article. Governments Businesses should be managed ethically because it is the right thing to do, it is legal and keeps the government from writing new laws, it is good for employee turnover, maintains a good reputation, keeps customers and attracts new ones, pleases employees and society Compliance based ethics code 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. Periodically asking every employee to evaluate the company's ethics performance. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. With respect to business ethics, it can be said that "it takes two to tango." Think about a business that hires only family or one that gives inappropriate incentives, for example. Part-time co-workers. D. Pricing practices Multiple Choice commitment to maximizing shareholder profits in all decisions, Insiders, such as employees, who report concerns about a company's accounting or auditing practices are called: social audit. Multiple Choice The chief engineer has recommended against this move, however, pointing out that the cost to produce the starters would be greater than the current 8.40perunitpurchaseprice:8.40 per unit purchase price:8.40perunitpurchaseprice: PerUnitTotalDirectmaterials$3.10Directlabor2.70Supervision1.50$60.000Depreciation1.00$40.000Variablemanufacturingoverhead0.60Rent0.30$12.000Totalproductioncost$9.20\begin{matrix} 8 Mini-Case Study, Intro-Into-Business: Ch. The first area is productivity. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Compliance-driven ethics standards A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. A. (D) long jail terms for those who acted unethically. capitalism Customer privacy policies and practices the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. A business should be managed ethically for many reasons: to maintain a good reputation; to keep existing customers and attract new ones; to avoid lawsuits; to reduce employee turnover; to avoid government intervention; and to please customers, employees, and society.