[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. 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.. 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. Periodically asking every employee to evaluate the company's ethics performance. D. varies from industry to industry. 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. A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. The majority of CEOs blame unethical employee conduct on: Integrity-driven ethics codes This is the third year of operations for the company. Multiple Choice DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. Whistleblowers are often concerned about retaliation. A well-implemented ethics program can also reduce losses. B. ability to plan for the unexpected. Business ethics concerns ethical dilemmas or controversial issues faced by a company. Which of the following statements about business ethics is false? corporate raiders. Shared accountability among employees. Which of the following are true regarding ethical behavior? 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. Think about a business that hires only family or one that gives inappropriate incentives, for example. (A) are just part of doing business B. philanthropy. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. Which of the following represent examples of how corporations set positive standards of ethical behavior? _______________- _______________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. 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: 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. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. 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. One strategy guaranteed to displease your customers is to: \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. Putting Ethical Design into Practice. D. concern for the welfare of society. These examples of ethical behaviors ensures maximum productivity output at work. [B] Bribery B. philanthropy (A) investors putting more money into both markets Multiple Choice [C] To increase employee turnover According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Dodd-Frank Wall Street Reform and Consumer Protection Act. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: A. the breakdown of traditional religious institutions. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. B. opportunity. Top management Socially conscious research organizations collect information on the social responsibility efforts of companies. D. Improved awareness of the relevant laws. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. ___________ __________ ______________is a business's concern for the welfare of society. [D] They may choose to cancel orders when there are environmental abuses. A. based on a commitment to integrity and respect and C. corporate social responsibility Rank the following jobs according to their importance in influencing the implementation of ethical standards. A. Internet 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 Supports ethically sound behavior Many companies Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. The findings reveal that quality service and an ethical business plan are essential to long-term business success. Companies that participate in CSR typically have more loyal employees and customers. allows them to connect directly with customers draw more customers, Many investors believe B. a failure of leadership to establish ethical standards. [C] only to compete and make a profit human resource support staff A set of formalized rules and standards that describe what a company expects of its employees is called a(n) [A] To attract customers Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. insider trading. (D) long jail terms for those who acted unethically. Decorating Arrangements has just completed operations for the year ended December 31, 2016. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. C. structure and strategy. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: 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: Attracting and retaining better employees is an example of a corporate social responsibility: Unethical behavior in business, especially in the real estate and banking industries, has resulted in [A] making the charges public before the investigation False. \text{Direct labor} & \text{2.70}\\ E. law. C. business exists only to make money for shareholders. employees and internal public relations additional taxes C. Increased penalties for code violators. Internal auditors Economic conditions in some developing countries make child labor a necessity for the survival of families. to increase employee turnover B. disgruntled workers manipulating budgets and expenses. Defines an organization's guiding principles. Multiple select questions. B. maintaining proper accounting procedures. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. A. Explanation \text{Total production cost} & \text{\$ 9.20}\\ 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. [A] is costly, but worthwhile in reaching specific customers It emphasizes sustainability, customer loyalty, brand image, and employee retention. These define the company's guiding values, and most often it involves shared accountability. 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. social policy The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. E. Employee benefit programs. Multiple choice question. (D) it reduces laws and regulations, Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it: __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. In a business setting, ethical behavior applies to any employee, team lead or supervisor. lose sales revenues B. the police in jurisdictions where the business has operations. integrity-based ethics social impact program. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? A. increasing the diversity of their workforce acquisition stalking. A business's responsibilities to its owners and investors include Which step is the most critical to help improve business ethics? Governments A. protecting the owners' rights and investments. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. 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. An important reason for a company to maintain its ethical reputation is opportunity influence ethical behavior You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. hiring only women and minorities It's the age-old reality: "Out-of-sight, out-of-mind." (A) matter very little to employers 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. Financial transparency 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. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. B. Horn blower C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. 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 term business ethics refers to the set of moral principles that guides a company's conduct. Supervisor 4. 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. (C) likely to perform worse financially Due to a reduction in output, the company has idle capacity that could be used to produce the starters. social justice. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. 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. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Unethical businesses also lose favor with consumers. it reduces laws and regulations Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? They need to take responsibility for what happened and be proactive in fixing it. Part-time co-worker 3. Multiple choice question. 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. a written code of ethics 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? Which of the following is not one of the approaches associated with corporate social responsibility? \end{matrix} Multiple select question. C. the increase in lawsuits used to avoid personal responsibility. Which of the following represent examples of how corporations set positive standards of ethical behavior? (D) make more money for investors in the short run. Multiple select question. draw more customers, retain better employees
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