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Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. building parks leaving unethical behavior unpunished Multiple Choice setting a good example. D. Pricing practices separating themselves from suppliers who violate An ethically managed business helps to reduce employee turnover. Supervisor 4. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. \text{Direct materials} & \text{\$ 3.10}\\ Global Business Ethics. Multiple choice question. Which of the following represent examples of how corporations set positive standards of ethical behavior? Think about a business that hires only family or one that gives inappropriate incentives, for example. A. the breakdown of traditional religious institutions. Other countries also follow capitalist principles. increased their financial donations because they understood how badly society needed a helping hand. Top management is essentially conducting a(n) cultural and accountable retaliation A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. Multiple Choice C. Increased penalties for code violators. C. structure and strategy. capitalism a written code of ethics Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. B. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ Multiple select question. penalizing wrong-doers, increasing control going to lose money by providing pay raises According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? whistleblowers Top management must adopt and support a corporate code of conduct. The main principles of business ethics are based in academia and on academic writings on proper business operations. [C] lack of trust in the free market system Business ethics helps to optimize company resources. 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. An organization's managers instill corporate values and _____________________ in employees by the examples they set. human resource support staff Multiple choice question. Multiple choice question. Explanation (B) going to save money by not hiring those who are disabled Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. An important reason for a company to maintain its ethical reputation is 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. [C] making businesspeople more accountable for their actions The field of ethics is a branch of philosophy that seeks virtue and morality, addressing questions about "right" and "wrong" behavior for people in a variety of settings; the standards of behavior that tell how human beings ought to act. Shared accountability among employees. integrity-based ethics Chapter 4. An organization's managers instill corporate values and _____________ in employees by the examples they set. Decorating Arrangements has just completed operations for the year ended December 31, 2016. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? Which step is the most critical to help improve business ethics? Here are five reasons why you should keep things legal and follow business ethics in accounting. Top management 4. B. varies even among those who are interested in corporate responsibility. How can. Multiple Choice C. Education and training Compliance-based ethics codes Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. 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. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ C. to attract new customers and retain existing customers. It is the right thing to do. social justice. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. [A] relate well to employees at all levels 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. Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. lose sales revenues Explanation Dodd-Frank Wall Street Reform and Consumer Protection Act Corporate philanthropy Demanding Ethical and Socially Res, Intro-Into-Business: Ch. True false question. Business ethics benefits the bottom line. Though there are many ethical opinions that most people share, ethics will differ from person to person. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. whistleblowers. Internal Audit Company Protection Act Multiple select question. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. Which of the following were not identified as being fundamental to the CSR definition? The first area is productivity. Written ethics codes can be categorized as With respect to business ethics, it can be said that "it takes two to tango." plan to maximize profits for shareholders to spend in communities Safe working conditions shareholders Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. This is due to the fact that our ethics are shaped by our moral code. In the following sentence, circle the subject of the underlined verb. 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. As a philosophy, ethics are the principles that guide a person's behaviour. enjoy greater employee loyalty Amber was observing an example of the ___________ followed at this organization. An important factor in enforcing ethics codes is selecting a(n) ________ ________. Example 1. Many companies Compliance-driven ethics standards [B] allowing management to decide the outcomes of investigations B. helping others Which of the following is a reason why a business should be managed ethically? Multiple choice question. Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. <br> I . 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: 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. holding international suppliers to different standards than American companies must adhere to in the United States. C. Corporate strategy Source interviews were conducted for a previous version of this article. 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.. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. Increased control over employee actions. Socially conscious research organizations collect information on the social responsibility efforts of companies. C. commitment to a management training program. The employees of a corporation are stakeholders who are affected by management practices. Depreciation is due to obsolescence rather then wear and tear. Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. True false question. Multiple Choice E. law. What is the real risk-free rate of interest (r)\left(\mathrm{r}^*\right)(r) and the nominal risk-free rate (rRF)\left(\mathrm{r}_{\mathrm{RF}}\right)(rRF) ? ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. How are these two rates measured? (D) businesses cannot succeed in societies that fail. The findings reveal that quality service and an ethical business plan are essential to long-term business success. Multiple choice question. 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, Chapter 18 APUSH The Victorian Era 1880-1917. [B] share all information with managers when requested Discrimination and Harassment. 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. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. Reevaluating its ethics codes based on the input of its customers. Multiple Choice What Does Ethical Decision Making Mean? (A) matter very little to employers firms should take added caution not to support government programs that protect the environment. (A) are just part of doing business Compliance-based ethics codes focus on: It's the age-old reality: "Out-of-sight, out-of-mind." Top management In the long run, they believe vigilantes. Basic ethical practices have been gleaned through research and practical study of how businesses function, and how they operate, both independently and with one another. A company that has socially responsible human resources management is Morality codes A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. E. All of the answers are correct. 1. With over 20 years of consulting experience across various industries throughout Australia and abroad, I am known for my ability to develop and turn creative strategies into efficient execution and excellent . A. Overstating an expense report. Which of the following statements reflects the difficulty companies face when requiring international suppliers to follow environmental and human rights standards set by U.S. firms? InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. [B] most of those who caused the crisis going to jail [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. C. a loss of employee commitment and trust in the company and its management. A business should be managed ethically because, businesses with good reputations attract customers. retain better employees (C) attract and retain better employees (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: insider trading. internal investigation. Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Sarbanes-Oxley Ruling Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. [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. B. allow for complete anonymity D. the nation's business schools that tolerate unethical behaviour in students. The discipline comprises corporate responsibility, personal responsibility, social responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. Then, of course, there are the more serious consequences of highly unethical behavior. Emphasizes strong penalties for wrongdoers ignoring both ethical and unethical behavior Those who have others interests in mind when they make decisions are displaying ethical behavior. A well-implemented ethics program can also reduce losses. Which of the following statements is false?