Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are It does not subtract from the bottom line; it adds to it. 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. Multiple Choice 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 moral impropriety. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. B. opportunity. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. D. management is insensitive to ethical issues. U.S. companies tend to overlook and forget human rights abuses abroad. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: A. guilt payments. Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. It is an act that is against the law and against Securities and Exchange Commission policy. What Does Ethical Decision Making Mean? 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? 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. Multiple choice question. Vanessa recognizes this as a(n) ________-based code of ethics. Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. Your boss has prepared some questions for you to consider. B Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? The deliberative system leads to more-ethical behaviors. Multiple select question. The majority of CEOs blame unethical employee conduct on: 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. A. corporate social initiative Governments C. practice deception regarding product safety issues. The companys vision, values and mission should be clearly stated and visible to both employees and clients so that the company can be held to those standards. concern for the welfare of society Depreciation is due to obsolescence rather then wear and tear. C. a loss of employee commitment and trust in the company and its management. Maria Juarez is a professional tennis player, and your firm manages her money. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. B. an individual's behavior is influenced by the behavior of others. 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. ", Corporate social responsibility is when businesses are concerned help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? C. Accounting fraud 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. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. (B) 3 out of 4 citizens think they should be paid for their volunteer work 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. B. an individual's behaviour is influenced by the behaviour of others. It emphasizes sustainability, customer loyalty, brand image, and employee retention. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ Personal projects Financial transparency 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? It seeks to promote honesty, fairness, and responsibility in all advertising. Economic conditions in some developing countries make child labor a necessity for the survival of families. Multiple Choice providing safety equipment and training for their workers, increasing the diversity of their workforce C. structure and strategy. E. All of the answers are correct. plan to maximize profits for shareholders to spend in communities A. Multiple choice question. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. D. companies who are perceived as being socially responsible will ultimately earn more profits for their Shared accountability among employees. Top leaders from other countries have been charged with bribery. setting a good example. Trust and cooperation between workers and managers must be based on which of the following? [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. (D) businesses cannot succeed in societies that fail. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. Resource procurement and consumption practices B. C. Increased penalties for code violators. separating themselves from suppliers who violate True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. technical policy C. energy consumption A set of formalized rules and standards that describe what a company expects of its employees is called a(n) Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and an individual's ethics An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. 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. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. [B] They may choose to cancel orders when there are human rights abuses. 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. Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by Practice deception regarding product safety issues. social order ethics Reevaluating its ethics codes based on the input of its customers. ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially. 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. Companies Ethical behavior includes honesty, fairness, integrity and understanding. 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. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Multiple choice question. responsible management of human resources, responsible management of human resources. Global Business Ethics. 8 Mini-Case Study, Intro-Into-Business: Ch. True Source interviews were conducted for a previous version of this article. That person called five of his relatives and several friends. Multiple select question. Though there are many ethical opinions that most people share, ethics will differ from person to person. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. (D) make more money for investors in the short run. Multiple select question. A. Internet Corporate social responsibility describes the firm's: A. responsibility to their stockholders. 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. 22. This is especially so when the market is very competitive, because then the customers have a lot of options and could switch to another product or service provider.. 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. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. social audit. Positive Effects of . (C) 4 out 5 citizens volunteer an hour each week 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. A. the breakdown of traditional religious institutions. CSR can lead to even more profits. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. draw more customers, Many investors believe \end{matrix} Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? A. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. 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. A. delight them with a quality product at a fair price. increasing the diversity of their workforce The second major meaning behind the term is . holding international suppliers to different standards than American companies must adhere to in the United States. vector robot subscription uk, koala human deaths per year,