Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. Unfair competitive practices in the computer industry B. philanthropy. Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. corporate beneficial management Due to the fact that it is not yet public, those who act upon the information have an unfair advantage and stand to gain financially. Maximizing ethical conflict in work groups opportunity influence ethical behavior about being fair and honest with their stakeholders C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics C. to attract new customers and retain existing customers. Which of the following represent examples of how corporations set positive standards of ethical behavior? integrity-based ethics 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. (B) it is using investors' money in ways they did not intend Multiple Choice Who sets the standards of right and wrong as defined by ethics? An ethically managed business helps to reduce employee turnover. [A] few losses to investors Multiple select question. Which of the following are reasons a business should be managed In ethics and social sciences, value denotes the degree of importance of some thing or action, with the aim of determining which actions are best to do or what way is best to live (normative ethics in ethics), or to describe the significance of different actions.Value systems are prospective and prescriptive beliefs; they affect the ethical behavior of a person or are the basis of their . B. focus on cost and quality control systems within your organization. Ethics can be rooted in belief or the pursuit of making the world better. Why a Business Should be Managed Ethically? - The Business Guru B. being socially responsible is all about being ethical. In this episode of Experiencing Data, Chenda and I explore her actual methods to designing ethical AI solutions as well as how she works with UX and product teams on ML solutions. Which of the following would be a unique focus of an integrity-based ethics code? Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. D. help investors recoup their losses. socially conscious research organizations. To allow whistleblowers to come forward with information organizations should Scandals. Vanessa recognizes this as a(n) ________-based code of ethics. This is an example of corporate: (B) are limited to the United States Which of the following are true regarding ethical behavior? She was even _____ after her solo than before. C. Investor relations How can. (D) make more money for investors in the short run. It emphasizes sustainability, customer loyalty, brand image, and employee retention. Organizational ethics begins Multiple Choice at the top levels of management. Resource procurement and consumption practices A. protecting the owners' rights and investments. Both positive and negative activities are measured. What Are Business Ethics and Why Are They Important? Explanation Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of __________________and not only of their owners. A legal provision known as the _______________ provides a "bounty" provision for whistleblowers whose actions result in a legal conviction. Ethical behavior does not matter to investors. Multiple Choice Multiple select questions. 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 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. B. enjoy significantly higher profits. [C] can be trusted to maintain confidentiality Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is D. stockholders. B. Whistleblowing C. Plagiarism A. Overstating an expense report. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. Business ethics benefits the bottom line. Reading: Global Business Ethics | International Business - Lumen Learning C. practice deception regarding product safety issues. a clear set of rules and regulations Think about a business that hires only family or one that gives inappropriate incentives, for example. 3 Reasons Why Business Ethics Is Important - Redlands Multiple choice question. Practice deception regarding product safety issues. shareholders Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . C. moral philosophy. I'm a Product Manager with experience working cross-functionally with business roles (e.g. These define the company's guiding values, and most often it involves shared accountability. Team and business confidence. 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: B. C. Operational initiatives 2. 22. Becoming an environmentally friendly business | Business Queensland Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: In a business setting, ethical behavior applies to any employee, team lead or supervisor. 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. (A) businesses who are socially responsible will earn more Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. ", Corporate social responsibility is when businesses are concerned social media. Complete each sentence with the comparative or superlative form of the modifier in parentheses. Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet The second major meaning behind the term is . A New Model for Ethical Leadership - Harvard Business Review 360-review. Though there are many ethical opinions that most people share, ethics will differ from person to person. (C) make students who know how to plagiarize well acceptable to employers 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. It may just be the cornerstone of your success. \end{matrix} As a philosophy, ethics are the principles that guide a person's behaviour. Taking Advantage of the Advantages: Gifts, Bribes, and Kickbacks B. Horn blower Multiple choice question. 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. E. help restore confidence in Corporate America and Canada. A. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. social justice. E. filing complaints with the company. The concern businesses have for the welfare of society, not just for their owners is: C. teamwork eliminates a need for personal ethics. 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. [D] requiring all bankers to sign ethical codes. Economist Milton Friedman believed that a business's only social responsibility was to make ____________ for its owners and that anything else was socialism. D. Integrity watchdog. Which of the following is NOT a part of an integrity-based ethics code? (A) likely to perform better financially promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: \text{Direct materials} & \text{\$ 3.10}\\ Dont make ethics an afterthought in your company culture. Supports ethically sound behavior 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. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? 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. Top leaders from other countries have been charged with bribery. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. The total rent on the plant is$80.000 per period. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. In the following sentence, circle the subject of the underlined verb. Defines an organization's guiding principles. [A] Influence peddling C. Education and training How does the action I am proposing to take make me feel about myself? protect them from retaliation information technology All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. Multiple choice question. This sort of behavior is not limited to the workplace; it can be present in every facet of life. 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. What Are Business Ethics? Definition, Types and Examples Multiple select question. 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? This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. Research has shown that companies engaged in corporate social responsibility (CSR): [A] To attract customers Displaying good ethical behavior can boost company morale and client relations. Explanation 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 . A. expanding the opportunity to behave ethically by providing rewards for following the rules. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. Thinking Ethically - Markkula Center for Applied Ethics Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. reaches broad and diverse groups [B] To maintain a good reputation The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. Ethics are the standards of right and wrong set for us by society, whereas legality refers to. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. It is actually a structure of moral principles and code of conduct applicable to a business. Rohit Sharma - Lead Technical Product Manager - LinkedIn [B] allowing management to decide the outcomes of investigations Strict global regulations require it. (A) matter very little to employers Socially conscious research organizations collect information on the social responsibility efforts of companies. An important factor in enforcing an ethics code is: secondary market companies. CSR can lead to even more profits. An environmentally friendly business: operates in a sustainable manner, causing minimal damage to the environment and using renewable resources where possible considers where its supplies come from and how they are madeit will work with environmentally responsible suppliers and source materials locally to reduce its carbon footprint How Does 401(k) Matching Work for Employers? American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. [A] it reduces employee turnover C. An ethics office must be set up. 1. A high ethical standard extends to customers as well. He also believed anything other than that would be considered: help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? only to compete and make a profit What are the causes of pay discrimination in the labor market? 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. retaliation 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. The corporate scandals can hurt the reputation of firms, the interests of investors and stakeholders, welfare of employees, the life damage or property losses of customers and the damage of environment. U.S. companies tend to overlook and forget human rights abuses abroad. According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? based on a commitment to integrity and respect Multiple select question. using recyclable packaging formal and informal. hiring only women and minorities Economics - Wikipedia Workplace and colleague wellbeing. penalizing wrong-doers, increasing control draw more customers, retain better employees A. you need to justify socially responsible behaviour from an investors standpoint only. Emphasizes strong penalties for wrongdoers Multiple Choice Explanation D. short run profit maximization. They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. B. ability to plan for the unexpected. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? Those who have others interests in mind when they make decisions are displaying ethical behavior. Multiple Choice stockholders Multiple select question. Multiple choice question. Supervisor Italian Stallion stockholders got a very fair deal for the stock they owned in the company. [C] Paying U.S. minimum wage Full-time co-workers 3. Multiple select question. Customer privacy policies and practices Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. [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. Ethical Marketing - Marketing Schools moral impropriety. social policy How to Write a Self-Assessment: 5 Tips to Improve Do Not Sell/Share My Personal Information, Limit the Use of My Sensitive Personal Information. Stresses shared accountability Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. customers (D) long jail terms for those who acted unethically. D. Mayhem internal investigation. Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. What is the best reason for a business to be managed ethically? Here are five reasons why you should keep things legal and follow business ethics in accounting. D. management is insensitive to ethical issues. It is a set of guidelines for dealing with various procedures ethically. B. Which of the following are reasons a business should be managed ethically? Multiple choice question. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . 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.
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