Prepare computations showing how much profits will increase or decrease as a result of making the starters. 2. When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: customers The statement by Patagonia that "A love of wild and beautiful places demands participation in the fight to save them, and to help reverse the steep decline in the overall environmental health of our planet" is an example of: A. This, then, creates greater stability within the company.. [C] conducting objective investigations True Multiple choice question. B. a failure of leadership to establish ethical standards. school districts Demanding Ethical and Socially Res, Intro-Into-Business: Ch. A. [B] allowing management to decide the outcomes of investigations Corporate social responsibility describes the firm's: A. responsibility to their stockholders. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: Though there are many ethical opinions that most people share, ethics will differ from person to person. ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. \text{Direct labor} & \text{2.70}\\ B. It does not subtract from the bottom line; it adds to it. [A] Influence peddling Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. C. Investor relations A company that has socially responsible human resources management is information technology Top management 4. The findings reveal that quality service and an ethical business plan are essential to long-term business success. D. management is insensitive to ethical issues. 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. D. short run profit maximization. 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. C. energy consumption B. an individual's behavior is influenced by the behavior of others. Explanation Top management must adopt and support a corporate code of conduct. [A] outsourcing enforcement of the laws to private firms D. Integrity watchdog. How can. The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. increasing control ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. All successful businesses communicate effectively. C. Research practices Explanation Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. plan to maximize profits for shareholders to spend in communities A high ethical standard extends to customers as well. 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. Emphasizes strong penalties for wrongdoers E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? D. to please customers, employees, and society. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. (D) long jail terms for those who acted unethically. 1. If the verb is already correct, write C above it. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. E. all of the answers are correct. C. commitment to a management training program. Is it acceptable if everyone else is doing it? The ethics code must be enforced. D. Outsourcing practices Periodically asking every employee to evaluate the company's ethics performance. (C) occur in many countries Notes. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? protect them from retaliation Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. for the welfare of society as a whole, about being fair and honest with their stakeholders 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. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition Ethical management generates trust, and trust increases productivity. Multiple select questions. Multiple select question. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. ", Corporate social responsibility is when businesses are concerned corporate inclusion policy 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 . And could be pivotal for career growth. C. Accounting fraud Customer privacy policies and practices A set of formalized rules and standards that describe what a company expects of its employees is called a(n) C. writing their representatives in Congress. Ethical issues are limited to for-profit organizations. Ethical behavior positively impacts a businesss financial performance. 1. Synonym Discussion of Ethical. 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. Businesses can show their CSR in many ways. requiring suppliers to be evaluated monthly concerning likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." This is an example of corporate: Multiple choice question. Its easier for a business to retain employees when they work for a company that they believe in. Unfair competitive practices in the computer industry called stakeholder interest socially conscious research organizations. 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. A. compliance-based Example 1. (D) occur in only a few countries. Multiple choice question. 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 . Maria Juarez is a professional tennis player, and your firm manages her money. A. (D) make more money for investors in the short run. B. helping others (A) likely to perform better financially employees and internal public relations Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility Part-time co-worker 3. Explanation It does not subtract from the bottom line; it adds to it. When Paulsen describes Storm, he also gives clues about his own personality. (C) to increase employee turnover cultural and accountable There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. 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 This indicates that: A. dancing around issues should be part of a firm's code of ethics. opportunity influence ethical behavior The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. Community members are bound by the pursuit of common values and goals. CSR can lead to even more profits. 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. Specific decisions made by your organization, whether by an individual or the entire group, can have a massive impact on how your company is viewed and the reputation it cultivates for itself. 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. Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. The side effects are so great that the society urges that the business should always be ethically and socially responsible. B. expressing dissatisfaction by protesting. Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. A. Scandals. It is essentially a moral compass. In the long run, CSR enhances profits. Written ethics codes can be categorized as Which of the following would be a unique focus of an integrity-based ethics code? Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. Who sets the standards of right and wrong as defined by ethics? Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be D. management is insensitive to ethical issues. Compliance-based ethics codes Society Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is Multiple select question. The dimension of social responsibility known as _________________responsibility includes everything from hiring minority workers to making safe products, minimizing pollution, using energy wisely, and providing a safe work environment. 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: Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. pro-current procurement. A business should be managed ethically because, businesses with good reputations attract customers. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. C. often experience customer loyalty problems. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. building parks In the workplace, there might be a standard for ethics set throughout the company. moral impropriety. A Understanding that individual moral standards, the influence of managers and coworkers, and How are these two rates measured? social impact program. B. 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. Ethics can be rooted in belief or the pursuit of making the world better. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. corporate beneficial management When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: The statement by Patagonia that "A love of wild and beautiful places demands participation in the fight to save them, and to help reverse the steep decline in the overall environmental health of our planet" is an example of: Attracting and retaining better employees is an example of a corporate social responsibility: Unethical behavior in business, especially in the real estate and banking industries, has resulted in ethical officers 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. Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. [C] allows them to reach specific groups more directly An ethically managed business helps to reduce employee turnover. Determining what is involved for a firm to be socially responsible: A. is easy. For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. \end{array} Vanessa recognizes this as a(n) ________-based code of ethics. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. Multiple Choice The last recession changed the way many companies offer support to people and communities in need. 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? compliance-based ethics Multiple select question. A. Overstating an expense report. C. Corporate strategy integrity-based 22. A. A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? [D] requiring all bankers to sign ethical codes. is costly, but worthwhile in reaching specific customers 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. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. varies among those who are interested in corporate responsibility.