higher ethical standards than in the past. However, anyone caught violating a law will be immediately fired." fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. Which of the following statements is false? D. Integrity watchdog. integrity-based ethics Trustworthiness. setting a good example. Is it acceptable if everyone else is doing it? aggregate independent appraisal. 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 to Write a Self-Assessment: 5 Tips to Improve Do Not Sell/Share My Personal Information, Limit the Use of My Sensitive Personal Information. varies among those who are interested in corporate responsibility. <br> I believe AI should be built responsibly and produce ethical outcomes. (A) matter very little to employers Which of the following would least likely involve ethical concerns? Ethical business norms must be adhered to not only by company managers but by all employees of companies without exception. E. law. 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. C. a loss of employee commitment and trust in the company and its management. shareholders The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. This sort of behavior is not limited to the workplace; it can be present in every facet of life. Responsible business behavior depends on the responsible behavior of each ______ in the business world. (A) have fewer loyal customers but attract more of them When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. The chief engineer has recommended against this move, however, pointing out that the cost to produce the starters would be greater than the current 8.40perunitpurchaseprice:8.40 per unit purchase price:8.40perunitpurchaseprice: PerUnitTotalDirectmaterials$3.10Directlabor2.70Supervision1.50$60.000Depreciation1.00$40.000Variablemanufacturingoverhead0.60Rent0.30$12.000Totalproductioncost$9.20\begin{matrix} Multiple choice question. fascism [C] conducting objective investigations ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but C. providing all relevant information about current and projected performance of the firm. Putting Ethical Design into Practice. going to lose money by providing pay raises [D] To avoid lawsuits, Effective ethics officers: 22. These actions are China is a communist country. The owners of Good Eats Restaurant in St. Louis drove several hours with a van of employees, equipment, and food to donate what they could to help the storm victims. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. True allows them to connect directly with customers Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by analysts. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ (A) it prevents government audits <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . But when they do, employees need to take accountability for their actions. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. In running a successful business, a key factor in that success will be the ethical and moral standards of yourself, your leaders, and your entire team. D. structure and strategy. 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. Business ethics benefits the bottom line. What does the research into business ethics say? (B) 3 out of 4 citizens think they should be paid for their volunteer work The most basic question in an ethics-based management system is. Explanation Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? [A] is costly, but worthwhile in reaching specific customers Which of the following are examples of outside stakeholders that must be told about a company's ethics program? A. delight them with a quality product at a fair price. [B] allowing management to decide the outcomes of investigations D. Outsourcing practices clarifying what green means B. the police in jurisdictions where the business has operations. We covered: How data teams can actually design ethical ML models, after . Government and business leaders are being held to A. expanding the opportunity to behave ethically by providing rewards for following the rules. unethical D. management is insensitive to ethical issues. Complete each sentence with the comparative or superlative form of the modifier in parentheses. compliance-based Emphasizes strong penalties for wrongdoers A. 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. [B] To maintain a good reputation formal and informal. B. an individual's behavior is influenced by the behavior of others. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. . C. helps government officials develop appropriate legislation. Marketing, Finance, Sales), technical roles (e.g. allows them to reach specific groups more directly, allows them to connect directly with customers B. ability to plan for the unexpected. C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics Multiple select question. The purpose of a code of ethics is to guide employees in handling ethical dilemmas. whistleblowers. Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. Multiple select question. D. expanding the opportunity to behave ethically by providing punishments for following the rules. Dodd-Frank Wall Street Reform and Consumer Protection Act. is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . Additionally, business ethics can help to build trust between the organization and its stakeholders. Employees and management alike can work together to create businesses that have high standards. It is essentially a moral compass. Financial transparency Due to a reduction in output, the company has idle capacity that could be used to produce the starters. An important factor in enforcing ethics codes is selecting a(n) ________ ________. 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. [B] it increases the likelihood of government intervention Ethical behavior can have negative consequences to the bottom line in the long run. C. Accounting fraud (A) 3 out of 4 citizens do not give any time to the communities in which they live Maximizing ethical conflict in work groups 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. B. It also helps to ensure that employees are treated fairly and that the company is acting in a responsible manner. about being fair and honest with their stakeholders Rank the following jobs according to their importance in influencing the implementation of ethical standards. offering consumers more product choices, True or false: Bribery is a business practice unanimously held as an ethical violation across the globe. During the last recession monetary contributions decreased and companies found ways to continue their philanthropic participation by asking employees to donate time to corporate social initiatives and other projects. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Multiple select question. opportunity influence ethical behavior B. focus on cost and quality control systems within your organization. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. 1 Mini-Case Study, (Learning Curve 11 a) Body Development; Cogni, (LearningCurve 11b) Becoming Your Own Person-, chapter 3 psy 200 (LearningCurve 3b) Survivin, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. Which of the following describes charitable donations by corporations to nonprofit organizations? Today, as many Americans (64%) say that a company's "primary purpose" should include "making the world better" as say it should include "making money for shareholders." (A) investors putting more money into both markets '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. whistleblowers 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. Explanation An organization's managers instill corporate values and _____________________ in employees by the examples they set. The side effects are so great that the society urges that the business should always be ethically and socially responsible. B. a failure of leadership to establish ethical standards. Target is a business. The moral and ethical standards by which leaders are judged are far stricter than in the past. 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. [D] severe financial crises. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. E. help restore confidence in Corporate America and Canada. D. employee retaliation by doing the minimum needed to get by. Unfair competitive practices in the computer industry How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. Multiple choice question. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. 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. It's the age-old reality: "Out-of-sight, out-of-mind." requiring suppliers to be evaluated monthly concerning Deceptive advertising of medicines and toys Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. The findings reveal that quality service and an ethical business plan are essential to long-term business success. Part-time co-worker 3. Corporate philanthropy called stakeholder interest Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. 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. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. Top officials in countries like Japan, South Korea, and China have faced legal charges of influence peddling and __________ charges, which serve as examples of the unethical behavior that U.S. companies face in overseas markets. B. Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. It is the right thing to do. Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are Top leaders from other countries have been charged with bribery. Honorees on this year's list of the World's Most Ethical Companies outperformed the Large Cap Index by 10.5 percent over three years. They should display behavior that is honest and fair in their relationships with co-workers and their. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. D. Outsiders must be told about the ethics program. The employment of ethical business practices can enhance overall corporate health in three important areas. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and Often, business ethics involve a system of practices and procedures that help build trust with the. The term business ethics refers to the set of moral principles that guides a company's conduct. A. social order ethics Article. <br> I . 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. it reduces laws and regulations E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? Multiple Choice 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. Multiple select question. firms should take added caution not to support government programs that protect the environment. Which of the following are reasons a business should be managed ethically? (D) long jail terms for those who acted unethically. [D] businesses with good reputations attract customers. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. CSR can lead to even more profits. A low cost, efficient way for companies to connect with specific groups and inform them of corporate social responsibility efforts is ____________________ __________________. D. Mayhem Multiple choice question. 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.. This is called a bounty provision because as stated, they may receive a monetary award for their actions. Multiple choice question. [C] it reduces the likelihood of lawsuits by employees or customers Which of the following are reasons a business should be managed ethically? the collection of laws to protect society from fraud, theft, and violence. corporate responsibility human resource support staff Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? There is significant pressure on U.S. companies to separate themselves from suppliers who violate human rights and environmentally progressive guidelines. Suppliers [C] only to compete and make a profit using recyclable packaging Multiple choice question. C. Investor relations \text{ } & \text{Per Unit} & \text{Total}\\ A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. Examples of ethical behaviors in the workplace includes; obeying the company's rules, effective communication, taking responsibility, accountability, professionalism, trust and mutual respect for your colleagues at work. A. The international Day Of Pe, Chapter 3 Doing Business in a Global Markets, Byron Almen, Dorothy Payne, Stefan Kostka, The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Eric Hinderaker, James A. Henretta, Rebecca Edwards, Robert O. Self, Spring 2018 Final Exam Review Chapters 8,9,10. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. that they can improve their own financial health by investing in companies whose goods and services benefit the community Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. D. to please customers, employees, and society. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." A set of formalized rules and standards that describe what a company expects of its employees is called a(n) B. philanthropy. The second major meaning behind the term is . social policy managerial policy, Studies have shown that what most influences a company's effectiveness and financial performance is: E. all of the answers are correct. Which of the following represent examples of how corporations set positive standards of ethical behavior? An ethically managed business helps to reduce employee turnover. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: B. an individual's behaviour is influenced by the behaviour of others. 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. he many small choices we make daily about working or goofing off, using company phones and computers responsibly, and following safety rules, make it clear that ____________________decisions start with each individual. B. [D] Political risk taking. tax officials. integrity-based ethics (C) make students who know how to plagiarize well acceptable to employers 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. (B) going to save money by not hiring those who are disabled is costly, but worthwhile in reaching specific customers 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. The You Design, We Build Company makes custom furniture of all kinds. Multiple choice question. \text{Direct materials} & \text{\$ 3.10}\\ She was even _____ after her solo than before. Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public.

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