Which of the following should help reduce the incidence of unethical behavior in an organization? \text{Direct materials} & \text{\$ 3.10}\\ They need to take responsibility for what happened and be proactive in fixing it. Multiple choice question. It is essentially a moral compass. varies among those who are interested in corporate responsibility. CSR can lead to even more profits. Here are five reasons why you should keep things legal and follow business ethics in accounting. Multinational corporations are committed to operating within the legal limits of U.S. law. compliance police. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. 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. moral impropriety. Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. This is due to the fact that our ethics are shaped by our moral code. Multiple Choice 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 . B. expressing dissatisfaction by protesting. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that D. fail to earn sufficient profits for their owners. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ 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. Which step is the most critical to help improve business ethics? C. Increased penalties for code violators. C. often experience customer loyalty problems. While these actions might not be illegal, they can definitely have negative effects on the morale and success of a company, especially if their dirty laundry is aired publicly. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. (D) businesses cannot succeed in societies that fail. allows them to reach specific groups more directly, allows them to connect directly with customers D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. Which of the following is a reason why a business should be managed allows them to connect directly with customers How Does 401(k) Matching Work for Employers? Emphasizes strong penalties for wrongdoers global policy Integrity-based ethics codes With respect to business ethics, it can be said that "it takes two to tango." Periodically asking every employee to evaluate the company's ethics performance. 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. D. Outsourcing practices school districts A. based on a commitment to integrity and respect and C. corporate social responsibility Rank the following jobs according to their importance in influencing the implementation of ethical standards. 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. reaches broad and diverse groups Explanation Marilena Crsteanu - International Customer Experience Advisor Businesses can show their CSR in many ways. B Deceptive advertising of medicines and toys Ethics can be rooted in belief or the pursuit of making the world better. The World Trade Organization (WTO) Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. setting a good example. 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. the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. that they can improve their own financial health by investing in companies whose goods and services benefit the community C. An ethics office must be set up. 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. Why Are Business Ethics Important? A Guide - Investopedia reaches broad and diverse groups corporate policy communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: How does the action I am proposing to take make me feel about myself? (C) to increase employee turnover If an ethical tone is set at the top and followed by management, everyone who works there will hold themselves and each other to those standards. Defines an organization's guiding principles. The main principles of business ethics are based in academia and on academic writings on proper business operations. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. A business's responsibilities to its owners and investors include concern for the welfare of society (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: D. Improved awareness of the relevant laws. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: social initiatives the federal government She was even _____ after her solo than before. Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? 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. (A) it prevents government audits \text{Variable manufacturing overhead} & \text{0.60}\\ D. short run profit maximization. Which of the following describes charitable donations by corporations to nonprofit organizations? Corporate social responsibility describes the firm's: A. responsibility to their stockholders. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . Multiple choice question. All successful businesses communicate effectively. Research into ethics and business performance has shown the two are linked in some important ways. Written ethics codes can be categorized as ", Corporate social responsibility is when businesses are concerned Amber was observing an example of the ___________ followed at this organization. ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. B. enjoy significantly higher profits. A. protecting the owners' rights and investments. Practice deception regarding product safety issues. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. (A) have fewer loyal customers but attract more of them How Managers Can Encourage Ethical Behavior | Principles of Management List the most influential on top. Strategic partnering integrity-based ethics Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. Think about a business that hires only family or one that gives inappropriate incentives, for example. C. Accounting fraud He also believed anything other than that would be considered: Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. Business should be managed ethically because Businesses with good reputations attract customers It reduces employee turnover It reduces the likelihood of lawsuits by employees or customers True or false: individuals have social responsibilities regarding their ethical behavior in the business world. Which of the following statements about business ethics is false? C. practice deception regarding product safety issues. 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. Trustworthiness. Although this can be a lot of work, it can also positively impact the bottom line, protect a companys brand and result in higher customer satisfaction. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. penalizing wrong-doers, increasing control D. employee retaliation by doing the minimum needed to get by. 'Business Ethics' can be termed as a study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. that only society's health is improved when they invest in companies whose goods and services benefit the community Why Should Businesses Act Ethically? - Business Ethics and Corporate Unethical businesses also lose favor with consumers. actual ethics. _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. In a business setting, ethical behavior applies to any employee, team lead or supervisor. Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Multiple select question. U.S. companies tend to overlook and forget human rights abuses abroad. Companies that participate in CSR typically have more loyal employees and customers. Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. \text{Total production cost} & \text{\$ 9.20}\\ My 4 fundamental professional beliefs:<br> I believe change management must be inclusive if you want it to work. higher ethical standards than in the past. higher ethical standards than in the past. In the workplace, there might be a standard for ethics set throughout the company. B. a failure of leadership to establish ethical standards. It's the age-old reality: "Out-of-sight, out-of-mind." the collection of laws to protect society from fraud, theft, and violence. allows them to reach specific groups more directly. The ethics code must be enforced. Dodd-Frank Wall Street Reform and Consumer Protection Act \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ There are a number of reasons why businesses should act ethically: to protect its own interest; to protect the interests of the business community as a whole so that the public will have trust in it; to keep its commitment to society to act ethically; to meet stakeholder expectations; to prevent . (B) it is using investors' money in ways they did not intend Multiple choice question. Marketing, Finance, Sales), technical roles (e.g. offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. Dont make ethics an afterthought in your company culture. HR professionals sometimes face ethical or moral dilemmas. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be All else held equal, socially responsible firms: A. are viewed more favourably by consumers. [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is Business Ethics refers to carrying business as per self-acknowledged moral standards. (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 Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by Economic conditions in some developing countries make child labor a necessity for the survival of families. increased financial donations to local areas but pulled away from national and global contributions. A. Whistleblower This, then, creates greater stability within the company.. 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. E. all of the answers are correct. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. Top leaders from other countries have been charged with bribery. Government and business leaders are being held to C. teamwork eliminates a need for personal ethics. internal search and occupy organizations. Fraud 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. Top management must adopt and support a corporate code of conduct. 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.

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