Mona Harvey Age, Taking Communion At Home With Family, What Is Merit Designation On Diploma, Dte Energy Foundation Board Of Directors, Articles A

A. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. An organization's managers instill corporate values and _____________________ in employees by the examples they set. The rent charge above is based on space utilized in the plant. A. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: The second major meaning behind the term is . C. often experience customer loyalty problems. [C] only to compete and make a profit secondary market companies. Whistleblowers are insiders who report illegal or unethical behavior. Multiple Choice B. A business starts with the correct usage and allocation of finances and cost management. Customers Research has shown that companies engaged in corporate social responsibility (CSR): [A] They will bribe local officials to change their policies. Multiple select question. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. It seeks to promote honesty, fairness, and responsibility in all advertising. Ethics may seem like an intangible, but there is a clear connection to overall performance. In the study, researchers determined that a higher quality of service positively impacted business operations when ethical adherence was also high. J. M. D'Aquila, D. F. Bean, and E. G. Procario- Foley (2004) reported that 97% of business leaders perceive American businesses as ethical, versus 24.5% of students. 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} When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. 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: 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 In a business setting, ethical behavior applies to any employee, team lead or supervisor. What Does Ethical Decision Making Mean? The following data have been assembled for the business: InsuranceExpense$2,000SalariesExpense$37,000ServiceRevenue80,000AccountsPayable4,300UtilitiesExpense500OfficeSupplies1,500RentExpense11,000Dividends4,500CommonStock8,500AccountsReceivable7,500Cash7,000Equipment26,600RetainedEarnings,Jan.1,20164,800\begin{array}{lrlr} Top management An organization's managers instill corporate values and _____________ in employees by the examples they set. (B) have higher turnover Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. moral impropriety. B. disgruntled workers manipulating budgets and expenses. This is called a bounty provision because as stated, they may receive a monetary award for their actions. They should display behavior that is honest and fair in their relationships with co-workers and their. D. Outsourcing practices separating themselves from suppliers who violate This includes managers and subordinates, peers and clients. Dodd-Frank Wall Street Reform and Consumer Protection Act. [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. 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 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. (D) occur in only a few countries. And could be pivotal for career growth. D. Pricing practices Top management is essentially conducting a(n) capitalism 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. From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. Explanation False. [B] To maintain a good reputation 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. 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. Discrimination and Harassment. corporate raider divisions. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. 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. China is a communist country. Explanation [D] severe financial crises. B. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? C. teamwork eliminates a need for personal ethics. ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. 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. compliance police. pro-current procurement. Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. Resource procurement and consumption practices \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ concern for the welfare of society D. shift the production of goods to foreign facilities and layoff Canadian workers. vigilantes. To manage these risks and the ethical obligations they imply, CDOs should work on developing institutional practices for continual learning and interaction with external experts. B. varies even among those who are interested in corporate responsibility. A Understanding that individual moral standards, the influence of managers and coworkers, and Multiple select question. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. A. Overstating an expense report. Multiple Choice Complete each sentence with the comparative or superlative form of the modifier in parentheses. 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. 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. This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. B. philanthropy (A) likely to perform better financially Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. TV ads A. code of ethics. There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. 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. If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: What motivated the unethical behavior of real estate agents, lenders, and borrowers that led to the financial crisis of 2008? \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ corporate social responsibility, Corporate social responsibility is when businesses are concerned 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. 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? 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. reaches broad and diverse groups insider trading. Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. [A] To attract customers Is it acceptable if everyone else is doing it? Part-time co-workers. Think about a business that hires only family or one that gives inappropriate incentives, for example. (C) benevolence is the highest virtue The findings reveal that quality service and an ethical business plan are essential to long-term business success. is costly, but worthwhile in reaching specific customers 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. (B) it attracts and retains customers B. philanthropy. Fraud This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. Chapter 4. whistleblowers A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. create an open-door policy, protect them from retaliation Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. The most basic question in an ethics-based management system is. corporate policy Supervisor A. reduced employee turnover. Which of the following statements about business ethics is false? social audit. Which of the following represent examples of how corporations set positive standards of ethical behavior? In the following sentence, circle the subject of the underlined verb. A high ethical standard extends to customers as well. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . \text{ } & \text{Per Unit} & \text{Total}\\ benevolence can lead to a vote of no confidence by company stakeholders. allow for complete anonymity It is essentially a moral compass. going to lose money by providing pay raises Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. U.S. companies tend to overlook and forget human rights abuses abroad. increased financial donations to local areas but pulled away from national and global contributions. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? social order ethics ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. The World Trade Organization (WTO) Businesses must abide by some basic principles. B. maintaining proper accounting procedures. Many companies Integrity-based ethics codes Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". C. business exists only to make money for shareholders. Depreciation is due to obsolescence rather then wear and tear. Trust and cooperation between workers and managers must be based on which of the following? When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. The field of ethics is a branch of philosophy that seeks virtue and morality, addressing questions about "right" and "wrong" behavior for people in a variety of settings; the standards of behavior that tell how human beings ought to act. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. An ethically managed business helps to reduce employee turnover. \text{Total production cost} & \text{\$ 9.20}\\ Why You Need to Create a Fantastic Workplace Culture, 10 Employee Recruitment Strategies for Success, Best Accounting Software and Invoice Generators of 2023, Best Call Centers and Answering Services for Businesses for 2023. building parks Strict global regulations require it. C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics We covered: How data teams can actually design ethical ML models, after . 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. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. Explanation technical policy 'Business' can mean an activity of exchange. Explanation (D) make more money for investors in the short run. D. concern for the welfare of society. internal search and occupy organizations. It emphasizes sustainability, customer loyalty, brand image, and employee retention. ___________ __________ ______________is a business's concern for the welfare of society. statement by Milton Friedman that maximizing shareholder profits is businesses' only responsibility [C] it reduces the likelihood of lawsuits by employees or customers Ethical behavior has significant upfront costs which may never be recovered. protect them from retaliation B. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. government-supported direct mail campaigns (C) likely to perform worse financially Multiple choice question. E. all of the answers are correct. ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. 2. D. companies who are perceived as being socially responsible will ultimately earn more profits for their Amber was observing an example of the ___________ followed at this organization. E. law. Distributors. [B] about being fair and honest with their stakeholders The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: A systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs is called: How are U.S. companies likely to pressure foreign companies to change their standards of ethics and social responsibility?