Reevaluating its ethics codes based on the input of its customers. many Americans decide what's ethical based upon the situation in which they find themselves. A. Whistleblower Multiple choice question. 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. Mistakes and misunderstandings are bound to happen in any work setting. What occurs when an employee exposes an employer's wrongdoing to outsiders? Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by In fact they contribute to it: 1. It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. [A] outsourcing enforcement of the laws to private firms B (C) attract and retain better employees \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ Business ethics concerns ethical dilemmas or controversial issues faced by a company. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition going to save money by not hiring those who are disabled using recyclable packaging businesses with good reputations attract customers it reduces the likelihood of lawsuits by employees or customers it reduces employee turnover it increases the likelihood of government intervention businesses with good reputations attract customers $A supervisor would have to be hired to oversee production of the starters. Chapter 4. Is it acceptable if everyone else is doing it? corporate raider divisions. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. integrity-based ethics Personal projects capitalism \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ Multiple select question. opportunity influence ethical behavior cultural and accountable This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. One entity (e.g., a person, a firm) "does business" with another when it exchanges a good or service for valuable consideration, i.e., a benefit such as money. Multiple choice question. Unethical businesses also lose favor with consumers. [D] allows them to connect directly with customers. Multiple select question. True However, it was disclosed that somehow a member of Paulie's management team mentioned the deal to a person he sat next to on a flight from LA to Seattle. B. helping others Responsible business behavior depends on the responsible behavior of each ______ in the business world. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? B. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. 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. called stakeholder interest Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. C. Operational initiatives Full-time co-workers Which of the following are true regarding ethical behavior? that only society's health is improved when they invest in companies whose goods and services benefit the community (A) 3 out of 4 citizens do not give any time to the communities in which they live Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is Corporate social responsibility is based on a Resource procurement and consumption practices Ethical problems such as influence peddling and bribery: It may just be the cornerstone of your success. He also believed anything other than that would be considered: There are a wide variety of examples of ethical behavior in the workplace. 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. U.S. companies tend to overlook and forget human rights abuses abroad. They should display behavior that is honest and fair in their relationships with co-workers and their. Which of the following are reasons a business should be managed ethically? ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. Businesses should create and display their code of ethics publicly. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. Explanation D. concern for the welfare of society. D. Outsiders must be told about the ethics program. All successful businesses communicate effectively. D. Improved awareness of the relevant laws. (B) it attracts and retains customers Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Businesses can show their CSR in many ways. While these actions might not be illegal, they can definitely have negative effects on the morale and success of a company, especially if their dirty laundry is aired publicly. How are these two rates measured? Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. B. expressing dissatisfaction by protesting. (A) have fewer loyal customers but attract more of them (B) are limited to the United States Sarbanes-Oxley Ruling Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. B. allows them to connect directly with customers Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. 2. Paying employees on specified pay dates most of the time. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? Other countries also follow capitalist principles. Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. Multiple choice question. Organizational ethics begins Multiple Choice at the top levels of management. E. all of the answers are correct. 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. (A) matter very little to employers Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? Many businesses believe that they should have an influential and important role in: Societies set the standards for moral behavior, known as, About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through __________ work. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: 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: What is ethical is determined by the public, government regulators, interest groups, competitors and each individuals personal moral values, Studying business ethics will not necessarily, Inform you concerning the impact of the work group on ethical decisions. It does not subtract from the bottom line; it adds to it. 1. separating themselves from suppliers who violate How Does 401(k) Matching Work for Employers? On the flip side, a leader who personifies ethical behavior will be fair in all situations. corporate social initiative (B) going to save money by not hiring those who are disabled 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. \text{Variable manufacturing overhead} & \text{0.60}\\ That person called five of his relatives and several friends. 8 Mini-Case Study, Intro-Into-Business: Ch. a written code of ethics InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. plan to maximize profits for shareholders to spend in communities Safe working conditions It is actually a structure of moral principles and code of conduct applicable to a business. 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. corporate inclusion policy Conversely, when unethical behavior was commonplace, the quality of service had a much-diminished impact on the success of business operations. Vanessa recognizes this as a(n) ________-based code of ethics. A. profits. protect them from retaliation Marketing, Finance, Sales), technical roles (e.g. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. 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. It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. D. shift the production of goods to foreign facilities and layoff Canadian workers. China is a communist country. Businesses must abide by some basic principles. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ 2. In a business setting, ethical behavior applies to any employee, team lead or supervisor. CSR can lead to even more profits. Ethics can be rooted in belief or the pursuit of making the world better. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? This is called a bounty provision because as stated, they may receive a monetary award for their actions. If an underlined word is already in the correct possessive form, write a C on the line. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. Another reason why business ethics is important is that it can improve profitability. whistleblowers. D. Outsourcing practices 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. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. With respect to business ethics, it can be said that "it takes two to tango." D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. 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. standards. 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.
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a business should be managed ethically because