\text{Rent} & \text{0.30} & \text{\$ 12.000}\\ it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? Explanation C. teamwork eliminates a need for personal ethics. (D) affect hiring practices very little. Multiple Choice For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. In fact they contribute to it: 1. In a business setting, ethical behavior applies to any employee, team lead or supervisor. Which of the following should help reduce the incidence of unethical behavior in an organization? Corporate social responsibility describes the firm's: A. responsibility to their stockholders. insider trading. D. expanding the opportunity to behave ethically by providing punishments for following the rules. providing safety equipment and training for their workers, increasing the diversity of their workforce Multiple Choice \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. Ethical standards are different from country to country. Multiple Choice With respect to business ethics, it can be said that "it takes two to tango." This indicates that: A. dancing around issues should be part of a firm's code of ethics. 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 . C. helps government officials develop appropriate legislation. enjoy greater employee loyalty E. A criminal lawsuit. False. The World Trade Organization (WTO) 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. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . This, then, creates greater stability within the company.. (A) 3 out of 4 citizens do not give any time to the communities in which they live it attracts and retains customers $A supervisor would have to be hired to oversee production of the starters. Multiple choice question. Even small companies participate in _______ through donations and volunteer support of local causes and national charities, such as the Red Cross and the United Way. [D] They may choose to cancel orders when there are environmental abuses. Ethics can be rooted in belief or the pursuit of making the world better. The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? separating themselves from suppliers who violate B. helping others The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. A. ethical standards that are often unreasonable and cannot be met by most leaders. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. global policy About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. Which of the following is not one of the approaches associated with corporate social responsibility? Should an instance occur, the result could be devastating to your company's finances and reputation. They should display behavior that is honest and fair in their relationships with co-workers and their. whistleblowers In turn, employees will trust that their leadership team is working toward the greater good of the entire company. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. 'Business' can mean an activity of exchange. Codes of ethics foster ethical behavior by (C) make students who know how to plagiarize well acceptable to employers Multiple Choice unethical According to recent U.S. Census Bureau research volunteerism is at an all-time high, but C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and An organization's managers instill corporate values and _____________________ in employees by the examples they set. In the long run, they believe C. energy consumption A. [D] Political risk taking. Which of the following statements is false? C. It is the law in the U.S. D. Employees. fascism Though discrimination and harassment laws have been put in place and continue to be updated . Ethical behavior has significant upfront costs which may never be recovered. Unethical behavior by financial and real estate businesses has led to 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? You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. Scandals. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? This sort of behavior is not limited to the workplace; it can be present in every facet of life. With respect to business ethics, it can be said that "it takes two to tango." Due to a reduction in output, the company has idle capacity that could be used to produce the starters. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. In the following sentence, circle the subject of the underlined verb. Strategic partnering With over 20 years of consulting experience across various industries throughout Australia and abroad, I am known for my ability to develop and turn creative strategies into efficient execution and excellent . List the most influential on top. Who sets the standards of right and wrong as defined by ethics? 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. True 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. A. code of ethics. Multiple choice question. (D) going to lose money by providing pay raises, A business should be managed ethically because Multiple choice question. (B) going to save money by not hiring those who are disabled C. teamwork eliminates a need for personal ethics. C. writing their representatives in Congress. Fraud Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. [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. A. Overstating an expense report. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. formal and informal. A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . (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: How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. corporate beneficial management Explanation There are a wide variety of examples of ethical behavior in the workplace. 22. That person called five of his relatives and several friends. A. responsibility 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. An ethical business will get your employees to respect your company . 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: If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. What does the research into business ethics say? using recyclable packaging \text{ } & \text{Per Unit} & \text{Total}\\ 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? Which of the following are examples of outside stakeholders that must be told about a company's ethics program? A. delight them with a quality product at a fair price. The moral and ethical standards by which leaders are judged are far stricter than in the past. Which of the following is NOT a part of an integrity-based ethics code? Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by B. being socially responsible is all about being ethical. What occurs when an employee exposes an employer's wrongdoing to outsiders? employees and internal public relations It emphasizes sustainability, customer loyalty, brand image, and employee retention. According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? A. you need to justify socially responsible behaviour from an investors standpoint only. Multiple Choice protect them from retaliation increasing the diversity of their workforce Motivation. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. social audit. 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. D. shift the production of goods to foreign facilities and layoff Canadian workers. [A] They will bribe local officials to change their policies. social order ethics Multiple Choice Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. Discrimination and Harassment. D. employee retaliation by doing the minimum needed to get by. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. (D) occur in only a few countries. How Does 401(k) Matching Work for Employers? These examples of ethical behaviors ensures maximum productivity output at work. [B] To maintain a good reputation (A) are just part of doing business D. structure and strategy. <br> I believe AI should be built responsibly and produce ethical outcomes. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. socially conscious research organizations. (B) 3 out of 4 citizens think they should be paid for their volunteer work These define the company's guiding values, and most often it involves shared accountability. Think about a business that hires only family or one that gives inappropriate incentives, for example. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. increased their financial donations because they understood how badly society needed a helping hand. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ A. compliance police. D. Outsourcing practices True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Which of the following are true regarding ethical behavior? 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 . Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. Multiple choice question. C. Accounting fraud It is essentially a moral compass. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. He also believed anything other than that would be considered: An important reason for a company to maintain its ethical reputation is D. to please customers, employees, and society. [A] it reduces employee turnover Which of the following statements about business ethics is false? B. maintaining proper accounting procedures. In a business setting, ethical behavior applies to any employee, team lead or supervisor. school districts Multiple select question. actual ethics. A business's responsibilities to its owners and investors include Synonym Discussion of Ethical. Demanding Ethical and Socially Res, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Natuurwetenschappen eerste jaar examen trimes. 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. E. help restore confidence in Corporate America and Canada. A. Whistleblower 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. [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is Packaging requirements compliance-based ethics False. U.S. companies tend to overlook and forget human rights abuses abroad. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. \text{Direct labor} & \text{2.70}\\ decreased financial donations and eliminated support in almost every way. This indicates that: A. dancing around issues should be part of a firm's code of ethics. corporate raiders. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? Multiple Choice A. Diversity and discrimination B. Ignoring hazardous job conditions that exist in the company's facilities 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. Multiple choice question. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. B. varies even among those who are interested in corporate responsibility. (D) businesses cannot succeed in societies that fail. She has asked you to give her information about what determines the level of various interest rates. C. moral philosophy. Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. reducing most costs Explanation How can. Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. C. a loss of employee commitment and trust in the company and its management. What are the causes of pay discrimination in the labor market? It is a set of guidelines for dealing with various procedures ethically. B. an individual's behaviour is influenced by the behaviour of others. Top management 4. A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? (B) it is using investors' money in ways they did not intend Prepare computations showing how much profits will increase or decrease as a result of making the starters. Explanation D. Mayhem The deliberative system leads to more-ethical behaviors. (C) benevolence is the highest virtue Socially conscious investors insist that a company extend its own high standards to its ____________________. Basic ethical practices have been gleaned through research and practical study of how businesses function, and how they operate, both independently and with one another. U.S. companies that operate abroad, particularly those who contract with foreign companies, are now ________ human rights and environmental standards followed by U.S. law. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. B. philanthropy Which of the following describes charitable donations by corporations to nonprofit organizations? Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? Integrity-based ethics codes C. structure and strategy. With regard to socially responsible behavior, American businesses are 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. 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. only with their responsibility to their shareholders Multiple choice question. Vanessa recognizes this as a(n) ________-based code of ethics. Customer privacy policies and practices This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. A business starts with the correct usage and allocation of finances and cost management. E. Employee benefit programs. True In running a successful business, a key factor in that success will be the ethical and moral standards of yourself, your leaders, and your entire team. Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. Multiple choice question. The term business ethics refers to the set of moral principles that guides a company's conduct. D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. Multiple choice question. statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility The Sarbanes-Oxley Act and Ontario's Bill C-198 were both passed to A. punish those who committed accounting fraud in the late 1990s. Top leaders from other countries have been charged with bribery. enjoy greater employee loyalty 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. Notes. How does the action I am proposing to take make me feel about myself? What Does Ethical Decision Making Mean? it reduces laws and regulations Multiple select questions. When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. [B] share all information with managers when requested A. reduced employee turnover. D. Integrity watchdog. C. help laid-off employees get their jobs back. E. All of the answers are correct. An environmentally friendly business: operates in a sustainable manner, causing minimal damage to the environment and using renewable resources where possible considers where its supplies come from and how they are madeit will work with environmentally responsible suppliers and source materials locally to reduce its carbon footprint Ethical problems such as influence peddling and bribery: Employees and management alike can work together to create businesses that have high standards. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. setting a good example. 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. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. D. concern for the welfare of society. 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. [A] is costly, but worthwhile in reaching specific customers Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. Full-time co-workers 3. clarifying what green means True false question. (C) attract and retain better employees 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. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. [D] allows them to connect directly with customers. create an open-door policy, protect them from retaliation C. all levels of management. Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. Many companies 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 . Which of the following are reasons a business should be managed ethically? Top management must adopt and support a corporate code of conduct. Integrity-based ethics codes Giving back to society Top management at Lancer Distributing is convinced that they have a social responsibility to their community. B. the police in jurisdictions where the business has operations. U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. 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. going to save money by not hiring those who are disabled Explanation Trustworthiness. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. Multiple choice question. 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. Supervisor Multiple select question.

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