Distributors. C. providing all relevant information about current and projected performance of the firm. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. Compliance-driven ethics standards B. the police in jurisdictions where the business has operations. D. Integrity watchdog. B. [D] To avoid lawsuits, Effective ethics officers: A. protecting the owners' rights and investments. A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. A. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. called stakeholder interest providing safety equipment and training for their workers, 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: C. Research practices penalizing wrong-doers, increasing control corporate raiders. Which of the following represent examples of how corporations set positive standards of ethical behavior? Ethical behavior does not matter to investors. draw more customers, retain better employees \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ Multiple choice question. The term business ethics refers to the set of moral principles that guides a company's conduct. This is called a bounty provision because as stated, they may receive a monetary award for their actions. C. help laid-off employees get their jobs back. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. Increased control over employee actions. Explanation Here are five reasons why you should keep things legal and follow business ethics in accounting. In the long run, they believe compliance police. True false question. In fact they contribute to it: 1. A well-implemented ethics program can also reduce losses. 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? '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. 360-review. A. you need to justify socially responsible behaviour from an investors standpoint only. firms should take added caution not to support government programs that protect the environment. Compliance-based ethics codes focus on: With respect to business ethics, it can be said that "it takes two to tango." \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: Ethics may seem like an intangible, but there is a clear connection to overall performance. profitable charities ___________ __________ ______________is a business's concern for the welfare of society. D. guideline. (B) it attracts and retains customers (nervous). Supervisor 4. Business ethics benefits the bottom line. The concern businesses have for the welfare of society, not just for their owners is: additional taxes [B] They may choose to cancel orders when there are human rights abuses. But when they do, employees need to take accountability for their actions. If the verb is already correct, write C above it. . B. a failure of leadership to establish ethical standards. A business's responsibilities to its owners and investors include False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: 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. [A] few losses to investors it makes financial as well as moral sense to invest in companies that plan to create a better environment, that they can improve their own financial health by investing in companies whose goods and services benefit the community (D) businesses cannot succeed in societies that fail. 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. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. C. Accounting fraud Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. integrity-based ethics [D] severe financial crises. Community members are bound by the pursuit of common values and goals. The deliberative system leads to more-ethical behaviors. B. Whistleblowing C. Plagiarism Synonym Discussion of Ethical. Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. socialism A. create an open-door policy, protect them from retaliation the federal government Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Then, of course, there are the more serious consequences of highly unethical behavior. Who sets the standards of right and wrong as defined by ethics? leaving unethical behavior unpunished D. Improved awareness of the relevant laws. Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. [B] passing laws to make accounting records more transparent Strategic partnering (C) 4 out 5 citizens volunteer an hour each week However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. using recyclable packaging It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. it makes financial as well as moral sense to invest in companies that plan to create a better environment, Companies that try to act in a socially responsible way are likely to focus on such activities as Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. reducing regulations about labeling The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. A. A. delight them with a quality product at a fair price. When management considers ethics in its actions toward stakeholders, employees can be positively affected. Global Business Ethics. True false question. Multiple choice question. They should display behavior that is honest and fair in their relationships with co-workers and their clients. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. In a business setting, ethical behavior applies to any employee, team lead or supervisor. hiring only women and minorities Heres How to Fix It, 10 Common Leadership Mistakes Youre Probably Making, Creating a Diversity and Inclusion Training Program, How to Be an Ethical Leader: 10 Tips for Success, Disrespectful Employees? Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. Multiple choice question. Defines an organization's guiding principles. 1. C. Corporate strategy Tejas Vemparala also contributed to this article. vigilantes. Sherman Act Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. fascism statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility What does the research into business ethics say? an individual's ethics Ethical problems such as influence peddling and bribery: likely to perform better financially D. Mayhem The primary value of using social media to communicate CSR efforts is that it allows companies to reach broad and diverse groups, allows them to connect directly with customers in a low-cost, efficient way, and enables them to interact with specific groups more easily than through more traditional efforts. secondary market companies. Product safety There are a wide variety of examples of ethical behavior in the workplace. an individuals behavior is influenced by the behavior of others. D. companies who are perceived as being socially responsible will ultimately earn more profits for their After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. Multiple select question. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. 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. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. Chapter 4. \text{Direct labor} & \text{2.70}\\ China is a communist country. A. tax officials. U.S. companies tend to overlook and forget human rights abuses abroad. It is essentially a moral compass. Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. D. help investors recoup their losses. <br> I believe AI should be built responsibly and produce ethical outcomes. \text{ } & \text{Per Unit} & \text{Total}\\ corporate social initiative A. Part-time co-workers. 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. expanding the opportunity to behave ethically by providing punishments for following the rules. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? asking suppliers to lower their standards to be in compliance with of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are Multiple choice question. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. going to save money by not hiring those who are disabled A. guilt payments. free from the concern of <br> I . Multiple select question. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. D. management is insensitive to ethical issues. Giving back to society Reevaluating its ethics codes based on the input of its customers. 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: The purpose of a code of ethics is to guide employees in handling ethical dilemmas. B. being socially responsible is all about being ethical. B. personal responsibility C. compliance 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. lose sales revenues These actions are B. helping others 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. allows them to reach specific groups more directly, allows them to connect directly with customers 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." Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? Supports ethically sound behavior It does not subtract from the bottom line; it adds to it. List the most influential on top. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. only to compete and make a profit \text{Direct materials} & \text{\$ 3.10}\\ In a business setting, ethical behavior applies to any employee, team lead or supervisor. (D) going to lose money by providing pay raises, A business should be managed ethically because [C] making businesspeople more accountable for their actions C. a loss of employee commitment and trust in the company and its management. These principles govern every aspect of the company's operations, including its interaction with the government and other businesses, its treatment of its employees and its relationship with its customers. Typically, it is the kind of information where parties in the know can benefit. Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. [C] allows them to reach specific groups more directly corporate responsibility By being ethical, leaders can foster an environment that rewards and encourages good attitudes. A few months ago, Paulie's Pizza House, a large nationwide chain of restaurants, purchased one of its competitors, Italian Stallion Pizza Stations, for $800 million. It's the age-old reality: "Out-of-sight, out-of-mind." This is the third year of operations for the company. B The rent charge above is based on space utilized in the plant. D. Outsiders must be told about the ethics program. C. commitment to a management training program. ", Corporate social responsibility is when businesses are concerned draw more customers, Many investors believe They define crimes more narrowly than do ethics protect from fraud, theft, and violence, while are used to decide how we treat others responsibly to society's views of right and wrong Ethically Behaving often requires more than obeying the law. Ignoring hazardous job conditions that exist in the company's facilities setting a good example. customers [A] making the charges public before the investigation communism, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: Target is a business. Multiple select question. 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. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ Sarbanes-Oxley Ruling A business should be managed ethically for many reasons to maintain a good. A. code of ethics. a clear set of rules and regulations Society [B] most of those who caused the crisis going to jail acquisition stalking. responsible management of human resources, responsible management of human resources. 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. According to recent U.S. Census Bureau research volunteerism is at an all time high, but, 3 out of 4 citizens do not give any time to the communities in which they live. 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. Depreciation is due to obsolescence rather then wear and tear. \end{array} (A) investors putting more money into both markets Responsible business behavior depends on the responsible behavior of each ______ in the business world. Multiple choice question. 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. Source interviews were conducted for a previous version of this article. Businesses should create and display their code of ethics publicly. holding international suppliers to different standards than American companies must adhere to in the United States. for the welfare of society as a whole, about being fair and honest with their stakeholders whistleblowers. Multiple choice question. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. The findings reveal that quality service and an ethical business plan are essential to long-term business success. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. Multiple choice question. Multiple select questions. Ethical behavior can have negative consequences to the bottom line in the long run. D. employee retaliation by doing the minimum needed to get by. They need to take responsibility for what happened and be proactive in fixing it. Which of the following should help reduce the incidence of unethical behavior in an organization? can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. E. All of the answers are correct. The most basic question in an ethics-based management system is. Managing Business Ethics takes the view that ethical and unethical conduct are primarily the product of how systems align within an organization to promote certain kinds of behavior. higher ethical standards than in the past. insider trading. Businesses can show their CSR in many ways. (B) 3 out of 4 citizens think they should be paid for their volunteer work [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. Explanation Multiple Choice the collection of laws to protect society from fraud, theft, and violence. about being fair and honest with their stakeholders Ethical management generates trust, and trust increases productivity. False, Whistleblowers can be helped by protecting them from: Resource procurement and consumption practices B. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? (D) long jail terms for those who acted unethically. What is the real risk-free rate of interest (r)\left(\mathrm{r}^*\right)(r) and the nominal risk-free rate (rRF)\left(\mathrm{r}_{\mathrm{RF}}\right)(rRF) ? D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. If an underlined word is already in the correct possessive form, write a C on the line. social audit. B. increased financial donations to local areas but pulled away from national and global contributions. Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. Discrimination and Harassment. D. structure and strategy. What kind of person do you think Paulsen is? Businesses that violate ethics and engage in illegal activities can be subject to costly fines and lawsuits. Amber was observing an example of the ___________ followed at this organization. Safe working conditions protect them from retaliation Top management Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? (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 Implementing ethical standards within an organization starts with: An employee who reported her boss to the SEC for insider trading would be considered a(n) _____________ protected by law. Which of the following describes charitable donations by corporations to nonprofit organizations? 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. filing complaints with the company. standards. (D) affect hiring practices very little. True CSR can lead to even more profits. A. corporate social initiative I'm a Product Manager with experience working cross-functionally with business roles (e.g. higher ethical standards than in the past. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. unethical A. the breakdown of traditional religious institutions. allows them to connect directly with customers retaliation Whistleblowers are insiders who report illegal or unethical behavior. It does not subtract from the bottom line; it adds to it. True false question. "It's an ongoing phenomenon that must be better understood and managed and . 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. [B] To maintain a good reputation D. Deceptive advertising of food products E. All of the answers are correct, As a new employee, Vanessa has heard her boss say, "Do whatever it takes to meet your sales quota. This indicates that: A. dancing around issues should be part of a firm's code of ethics. Maximizing ethical conflict in work groups social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Here are other common examples of ethical behavior: No matter the relationship between two people and what they agree or disagree upon, people within an organization should always respect each other. Therefore, it is the most significant resource to run or upgrade any business. whistleblowers. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? Employees and management alike can work together to create businesses that have high standards. It may just be the cornerstone of your success. [B] share all information with managers when requested Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. Top management is essentially conducting a(n) C. energy consumption clarifying what green means shareholders TV ads \text{Variable manufacturing overhead} & \text{0.60}\\ All successful businesses communicate effectively. B. A business should be managed ethically because Multiple select question. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. 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. Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. (C) likely to perform worse financially Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. School McMaster University; Course Title COMMERCE 1E03; Type. socially conscious research organizations. A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. internal search and occupy organizations. Business ethics concerns ethical dilemmas or controversial issues faced by a company. When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. However, anyone caught violating a law will be immediately fired." Whistleblowers are often concerned about retaliation. An important factor in enforcing an ethics code is: Full-time co-workers What occurs when an employee exposes an employer's wrongdoing to outsiders? \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\
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