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However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. varies among those who are interested in corporate responsibility. 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. Startup Costs: How Much Cash Will You Need? Integrity-driven ethics codes Multiple choice question. Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management Often, business ethics involve a system of practices and procedures that help build trust with the. 1. (B) it attracts and retains customers D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? Demanding Ethical and Socially Res, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Natuurwetenschappen eerste jaar examen trimes. corporate inclusion policy Vanessa recognizes this as a(n) ________-based code of ethics. The side effects are so great that the society urges that the business should always be ethically and socially responsible. Compliance-based ethics codes focus on: A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . How does the action I am proposing to take make me feel about myself? [B] it increases the likelihood of government intervention What is the best reason for a business to be managed ethically? InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. Intro. business chapter 5 Flashcards | Quizlet The Importance of Business Ethics | Maryville Online Explanation Unfair competitive practices in the computer industry Explanation It is essentially a moral compass. To allow whistleblowers to come forward with information organizations should [C] lack of trust in the free market system Business principle (3) Flashcards | Quizlet higher ethical standards than in the past. [B] passing laws to make accounting records more transparent to increase employee turnover Eric Allgood - Managing Director - Small Business Assistance and Unethical behavior by financial and real estate businesses has led to 1. (A) likely to perform better financially 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. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. D. maximizing their investment in the firm. Stresses shared accountability social order ethics Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by [C] only to compete and make a profit Whistleblowers are insiders who report illegal or unethical behavior. From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. Emphasizes strong penalties for wrongdoers Government and business leaders are being held to The second major meaning behind the term is . A. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. An ethical business will get your employees to respect your company . 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. Multiple select question. [C] it reduces the likelihood of lawsuits by employees or customers Chapter 4. Why Business Should Be Managed Ethically - Liveboardroom.info Explanation 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. 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. social media. C. helps government officials develop appropriate legislation. B. because strict global regulations require it. Cari Miller, MBA, CMP, FHCA - Sr. Principal - LinkedIn The findings reveal that quality service and an ethical business plan are essential to long-term business success. This is an example of corporate: cultural and accountable ___________ __________ ______________is a business's concern for the welfare of society. Positive Effects of . Demanding Ethical and Socially Res, Intro-Into-Business: Ch. Multiple choice question. After developing a code of ethics, it should be communicated to: A. everyone with whom the business has dealings. 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. penalizing wrong-doers. In the following sentence, circle the subject of the underlined verb. only with their responsibility to their shareholders A. profits. Managing Business Ethics - Ethical Systems To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. 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. The following data have been assembled for the business: InsuranceExpense$2,000SalariesExpense$37,000ServiceRevenue80,000AccountsPayable4,300UtilitiesExpense500OfficeSupplies1,500RentExpense11,000Dividends4,500CommonStock8,500AccountsReceivable7,500Cash7,000Equipment26,600RetainedEarnings,Jan.1,20164,800\begin{array}{lrlr} Periodically asking every employee to evaluate the company's ethics performance. A. Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. Explanation C. Watch tower sentinel (A) matter very little to employers Economic conditions in some developing countries make child labor a necessity for the survival of families. D. structure and strategy. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. Research into ethics and business performance has shown the two are linked in some important ways. An organization's managers instill corporate values and _____________________ in employees by the examples they set. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. acquisition stalking. Ethical Definition & Meaning - Merriam-Webster An important reason for a company to maintain its ethical reputation is Multiple choice question. actual ethics. That person called five of his relatives and several friends. 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. the nation's business schools that tolerate unethical behaviour in students. In the study, researchers determined that a higher quality of service positively impacted business operations when ethical adherence was also high. These examples of ethical behaviors ensures maximum productivity output at work. A. delight them with a quality product at a fair price. Multiple choice question. D. employee retaliation by doing the minimum needed to get by. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. <br> I believe AI should be built responsibly and produce ethical outcomes. C. all levels of management. ERIC - EJ817941 - Using Ethics Vignettes in Introductory Finance A. guilt payments. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. D. management is insensitive to ethical issues. A Understanding that individual moral standards, the influence of managers and coworkers, and 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. is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . Explanation ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. A. reduced employee turnover. B. lose sales revenues D. expanding the opportunity to behave ethically by providing punishments for following the rules. A. Diversity and discrimination B. [B] about being fair and honest with their stakeholders aggregate independent appraisal. reaches broad and diverse groups fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. enjoy greater employee loyalty How are these two rates measured? There are a wide variety of examples of ethical behavior in the workplace. D. Outsiders must be told about the ethics program. China is a communist country. [A] for the welfare of society as a whole D. buying the company's products. whistleblowers. 360-review. And could be pivotal for career growth. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. only to compete and make a profit C. the increase in lawsuits used to avoid personal responsibility. Ch 4 Flashcards | Quizlet Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. D. concern for the welfare of society. Think about a business that hires only family or one that gives inappropriate incentives, for example. B. 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 . An organization's managers instill corporate values and _____________ in employees by the examples they set. \text{ } & \text{Per Unit} & \text{Total}\\ Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. [D] Political risk taking. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Chapter 4 LearnSmart Quiz Flashcards | Quizlet (B) 3 out of 4 citizens think they should be paid for their volunteer work Read 'Storm' by Gary Paulsen, that you can find on the internet and answer the following question. \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ They need to take responsibility for what happened and be proactive in fixing it. 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 first area is productivity. 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 When it comes to ethics, _________________________sets the standards for moral behavior, that is behavior defined as right or wrong. Which of the following statements about business ethics is false? Companies that participate in CSR typically have more loyal employees and customers. using recyclable packaging secondary market companies. profitable charities integrity-based ethics 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. Emphasizes strong penalties for wrongdoers decreased financial donations and eliminated support in almost every way. Serves as full-time, tenure tracked Business Instructor for the college's Bachelor of Applied Science in Organizational Management (BAS-OM) program, teaching classroom, hybrid, and online courses. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . A. Shared accountability among employees. 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: Socially conscious investors insist that a company extend its own high standards to its ____________________. D. shift the production of goods to foreign facilities and layoff Canadian workers. A. the breakdown of traditional religious institutions. Trust and cooperation between workers and managers must be based on which of the following? (B) going to save money by not hiring those who are disabled A business's responsibilities to its owners and investors include When management considers ethics in its actions toward stakeholders, employees can be positively affected. J. M. D'Aquila, D. F. Bean, and E. G. Procario- Foley (2004) reported that 97% of business leaders perceive American businesses as ethical, versus 24.5% of students. 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. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. Resource procurement and consumption practices D. guideline. allows them to reach specific groups more directly, allows them to connect directly with customers 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.