a business should be managed ethically because

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. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. compliance-based ethics (A) 3 out of 4 citizens do not give any time to the communities in which they live Rohit Sharma - Lead Technical Product Manager - LinkedIn An organization's managers instill corporate values and _____________ in employees by the examples they set. There are a wide variety of examples of ethical behavior in the workplace. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. C. Research practices B. D. Pricing practices D. Mayhem D. integrity. Explanation Ethics in the workplace: the ethical manager | HRZone 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. 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. An important reason for a company to maintain its ethical reputation is B. <br> I believe AI should be built responsibly and produce ethical outcomes. What kind of person do you think Paulsen is? A. you need to justify socially responsible behaviour from an investors standpoint only. Ethical Definition & Meaning - Merriam-Webster [D] businesses with good reputations attract customers. Chapter 4 - Homework ( Introduction To Business) - Quizlet C. It is the law in the U.S. D. Employees. The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. 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 code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. C. commitment to a management training program. D. management is insensitive to ethical issues. increasing control He also believed anything other than that would be considered: corporate social initiative lower ethical standards than in the past. Top management 1. 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. Businesses must abide by some basic principles. secondary market companies. Multiple select question. Resource procurement and consumption practices B. 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. 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. 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. True false question. Multiple Choice vigilantes. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. many Americans decide what's ethical based upon the situation in which they find themselves. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? integrity-based ethics moral impropriety. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that Ch 4 Flashcards | Quizlet corporate social initiative If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: 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. Startup Costs: How Much Cash Will You Need? . 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. 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. Multiple choice question. B. philanthropy. [C] making businesspeople more accountable for their actions This sort of behavior is not limited to the workplace; it can be present in every facet of life. There are a number of reasons why businesses should act ethically: to protect its own interest; to protect the interests of the business community as a whole so that the public will have trust in it; to keep its commitment to society to act ethically; to meet stakeholder expectations; to prevent . 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. The ethics code must be enforced. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? HR Ethical Dilemmas - SHRM Sherman Act A company that has socially responsible human resources management is In the long run, CSR enhances profits. The Sarbanes-Oxley Act and Ontario's Bill C-198 were both passed to A. punish those who committed accounting fraud in the late 1990s. Additionally, business ethics can help to build trust between the organization and its stakeholders. (C) make students who know how to plagiarize well acceptable to employers A business should be managed ethically because, businesses with good reputations attract customers. commitment to maximizing shareholder profits in all decisions, Insiders, such as employees, who report concerns about a company's accounting or auditing practices are called: In "Two Kinds," how does the narrator feel after the talent show? a written code of ethics internal search and occupy organizations. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. setting a good example. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility ethical standards that are often unreasonable and cannot be met by most leaders. False. going to save money by not hiring those who are disabled Ethical issues are limited to for-profit organizations. B. helping others Integrity-based ethics codes [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. C. teamwork eliminates a need for personal ethics. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. integrity-based ethics B. being socially responsible is all about being ethical. The motives of those involved in unethical behavior that caused the financial crisis in the real estate, banking, and mortgage industries included: Who sets the standards of right and wrong as defined by ethics? lose sales revenues False. Governments D. the nation's business schools that tolerate unethical behaviour in students. Determining what is involved for a firm to be socially responsible: A. is easy. Which of the following were not identified as being fundamental to the CSR definition? B. enjoy significantly higher profits. Example 1. The majority of CEOs blame unethical employee conduct on: A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. D. to please customers, employees, and society. [B] To maintain a good reputation What Are Business Ethics? Definition, Types and Examples \text{ } & \text{Per Unit} & \text{Total}\\ Supports ethically sound behavior Top management On the flip side, a leader who personifies ethical behavior will be fair in all situations. 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. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. (A) likely to perform better financially \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ A. the breakdown of traditional religious institutions. The business term we use to describe this philanthropic action is ___________________, where a company donates what it does best to help make a situation better. Integrity-based ethics codes In the long run, they believe it attracts and retains customers 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. Supervisor 2. Cari Miller, MBA, CMP, FHCA - Sr. Principal - LinkedIn Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? 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. (D) going to lose money by providing pay raises, A business should be managed ethically because A business should be managed ethically for many. 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. Multiple select question. A. expanding the opportunity to behave ethically by providing rewards for following the rules. reaches broad and diverse groups create an open-door policy, protect them from retaliation It is actually a structure of moral principles and code of conduct applicable to a business. protect them from retaliation A. reduced employee turnover. \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ This will ensure that you have trustworthy employees working for you. Multiple Choice Research into ethics and business performance has shown the two are linked in some important ways. \text{Total production cost} & \text{\$ 9.20}\\ Multiple choice question. (A) matter very little to employers A business should be managed ethically for many reasons to maintain a good. Multiple Choice Top management 4. They need to take responsibility for what happened and be proactive in fixing it. Another reason why business ethics is important is that it can improve profitability. government-supported direct mail campaigns (B) it attracts and retains customers draw more customers, retain better employees Business ethics concerns ethical dilemmas or controversial issues faced by a company. Ethical behavior does not matter to investors. [D] Political risk taking. Responsible business behavior depends on the responsible behavior of each ______ in the business world. Managing data ethics | Deloitte Insights The deliberative system leads to more-ethical behaviors. Though there are many ethical opinions that most people share, ethics will differ from person to person. Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. C. teamwork eliminates a need for personal ethics. 051-Methods for Designing Ethical, Human-Centered AI with Undock Head because strict global regulations require it, learned by observing the actions of others in the organization. Resource procurement and consumption practices Corporate responsibility concern for the welfare of society [B] Bribery 8 Current Ethical Issues in Business (and How to Manage Them) Part-time co-workers. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. building parks Ethics are the standards of right and wrong set for us by society, whereas legality refers to. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? Its easier for a business to retain employees when they work for a company that they believe in. Many companies B. Explanation Multiple select question. [C] can be trusted to maintain confidentiality U.S. companies tend to overlook and forget human rights abuses abroad. Multiple Choice Multiple choice question. reaches broad and diverse groups Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is '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. Compliance-based ethics codes, In order to have trust and cooperation between workers and managers there needs to be Multiple select question. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. A. guilt payments. 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. This is due to the fact that our ethics are shaped by our moral code. Ethical standards are different from country to country. Business Ethics - Definition, Principles, Types, Examples - WallStreetMojo because strict global regulations require it Corporate values are: The most basic question in an ethics-based management system is. B. focus on cost and quality control systems within your organization. Thinking Ethically - Markkula Center for Applied Ethics If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. Companies Often, business ethics involve a system of practices and procedures that help build trust with the. capitalism Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. Multiple select question. "It's an ongoing phenomenon that must be better understood and managed and . social media. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. D. buying the company's products. Which of the following should help reduce the incidence of unethical behavior in an organization? How are these two rates measured? True false question. Community members are bound by the pursuit of common values and goals. \text{Variable manufacturing overhead} & \text{0.60}\\ D. Integrity watchdog. Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management What Are Business Ethics and Why Are They Important? [D] They may choose to cancel orders when there are environmental abuses. Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. school districts allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: Dodd-Frank Wall Street Reform and Consumer Protection Act. 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. 5 Reasons Why Ethics Is Important in Accounting for Business Multiple choice question. If your supervisor directed you to enter false information into a sales order book and told you if you refused that you would lose your opportunity for promotion, you would probably consider this situation to be a(n), According to the text, ethical behavior begins with. When management considers ethics in its actions toward stakeholders, employees can be positively affected. social audit. socialism I'm a Product Manager with experience working cross-functionally with business roles (e.g. Deceptive advertising of medicines and toys [D] To avoid lawsuits, Effective ethics officers: Companies that participate in CSR typically have more loyal employees and customers. Chapter 4. All else held equal, socially responsible firms: A. are viewed more favourably by consumers. [C] The U.S. government will use military force to enforce labor laws.. 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: Compliance-driven ethics standards ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. D. structure and strategy. Ethics can be rooted in belief or the pursuit of making the world better. C. Operational initiatives How Managers Can Encourage Ethical Behavior | Principles of Management Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. [A] is costly, but worthwhile in reaching specific customers 1. 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: an individuals behavior is influenced by the behavior of others. Recently, top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and to list negative occurrences that supervisors observed. [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. A. holding international suppliers to different standards than American companies must adhere to in the United States. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ Codes of ethics foster ethical behavior by When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. An important reason for a company to maintain its ethical reputation is Explanation a clear set of rules and regulations corporate responsibility (B) make employers reluctant to hire those who have cheated

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