Multiple Choice ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. The companys vision, values and mission should be clearly stated and visible to both employees and clients so that the company can be held to those standards. Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. Multiple choice question. corporate raiders. integrity-based ethics social impact program. Multiple choice question. \end{array} 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. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Community members are bound by the pursuit of common values and goals. It is actually a structure of moral principles and code of conduct applicable to a business. Multiple choice question. C. Research practices The second major meaning behind the term is . C. Investor relations ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. A. Overstating an expense report. [D] allows them to connect directly with customers. likely to perform worse financially, Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back." [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. additional taxes corporate social initiative A well-implemented ethics program can also reduce losses. \text{ } & \text{Per Unit} & \text{Total}\\ (A) have fewer loyal customers but attract more of them A. of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition If the verb is already correct, write C above it. Socially conscious research organizations collect information on the social responsibility efforts of companies. E. Employee benefit programs. corporate beneficial management When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. aggregate independent appraisal. C. practice deception regarding product safety issues. Compliance-based ethics codes focus on: 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. Multiple choice question. Everyone with whom the business has dealings. <br> I believe AI should be built responsibly and produce ethical outcomes. Explanation about being fair and honest with their stakeholders Giving back to society A. When management considers ethics in its actions toward stakeholders, employees can be positively affected. whistleblowers D. Improved awareness of the relevant laws. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. B. focus on cost and quality control systems within your organization. She has asked you to give her information about what determines the level of various interest rates. 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. In addition to researching trends, reviewing products and writing articles that help small business owners, Sean runs a content marketing agency that creates high-quality editorial content for both B2B and B2C businesses. Chapter 4. \text{Total production cost} & \text{\$ 9.20}\\ B. maintaining proper accounting procedures. What kind of person do you think Paulsen is? 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. D. expanding the opportunity to behave ethically by providing punishments for following the rules. A. Multiple Choice B. Horn blower A. profits. Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? compliance-based Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. reducing most costs C. Research practices This includes managers and subordinates, peers and clients. pro-current procurement. This is the third year of operations for the company. [B] about being fair and honest with their stakeholders Global Business Ethics. B. Multiple choice question. Multiple Choice Those who have others interests in mind when they make decisions are displaying ethical behavior. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. for the welfare of society as a whole, about being fair and honest with their stakeholders D. stockholders. 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} The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. Business ethics benefits the bottom line. \text{Direct materials} & \text{\$ 3.10}\\ Unethical businesses also lose favor with consumers. True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. Research has shown that companies engaged in corporate social responsibility (CSR): 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) ? Multiple select question. It seeks to promote honesty, fairness, and responsibility in all advertising. B. 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. [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is 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. Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. 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} Stresses shared accountability protect them from retaliation tax officials. 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: B. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. Fraud \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. It emphasizes sustainability, customer loyalty, brand image, and employee retention. It is a set of guidelines for dealing with various procedures ethically. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. Ethical behavior has significant upfront costs which may never be recovered. Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. Part-time co-workers. Multiple choice question. On the flip side, a leader who personifies ethical behavior will be fair in all situations. corporate social responsibility, Corporate social responsibility is when businesses are concerned A reputation for positive ethical behavior entices more potential clients, customers and partners to work with you. Trust and cooperation between workers and managers must be based on which of the following? Corporate social responsibility describes the firm's: A. responsibility to their stockholders. 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. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: 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 . The side effects are so great that the society urges that the business should always be ethically and socially responsible. 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. Customers Supervisor allows them to reach specific groups more directly. A. protecting the owners' rights and investments. Multiple Choice [B] reaches broad and diverse groups (B) it is using investors' money in ways they did not intend A Understanding that individual moral standards, the influence of managers and coworkers, and whistleblowers A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. Marketing, Finance, Sales), technical roles (e.g. (D) 3 out of 4 citizens volunteer, but cheat on their taxes, Using information from the internet or other sources without giving credit to the author is, The strong relationship between academic dishonesty and dishonesty at work is likely to Which step is the most critical to help improve business ethics? reaches broad and diverse groups Resource procurement and consumption practices D. to please customers, employees, and society. Full-time co-workers not concerned with the ethical or socially responsible behavior of their international suppliers. Explanation it reduces laws and regulations D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. Economic conditions in some developing countries make child labor a necessity for the survival of families. Explanation This is called a bounty provision because as stated, they may receive a monetary award for their actions. B. A. Internet Top management 1. 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. Workplace and colleague wellbeing. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. The first area is productivity. 8 Mini-Case Study, Intro-Into-Business: Ch. With respect to business ethics, it can be said that "it takes two to tango." [A] outsourcing enforcement of the laws to private firms actual ethics. 2. clarifying what green means E. filing complaints with the company. Top management is essentially conducting a(n) Determining what is involved for a firm to be socially responsible: A. is easy. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. Often, business ethics involve a system of practices and procedures that help build trust with the. compliance-based ethics increasing the diversity of their workforce Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. asking suppliers to lower their standards to be in compliance with D. Pricing practices secondary market companies. The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: A systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs is called: How are U.S. companies likely to pressure foreign companies to change their standards of ethics and social responsibility? opportunity influence ethical behavior Business ethics inform a company's values and goals, as well as how it runs its day-to-day operations. Companies In the following sentence, circle the subject of the underlined verb. Explanation E. all of the answers are correct. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. \text{Service Revenue} & 80,000 & \text{Accounts Payable} & 4,300 \\ 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. Unethical behavior by financial and real estate businesses has led to Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. concern for the welfare of society [A] relate well to employees at all levels C. writing their representatives in Congress. Business Ethics refers to carrying business as per self-acknowledged moral standards. Shared accountability among employees. Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and B. disgruntled workers manipulating budgets and expenses. D. short run profit maximization. vigilantes. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. [D] They may choose to cancel orders when there are environmental abuses. Rank the following jobs according to their importance in influencing the implementation of ethical standards. shareholders True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. 22. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . 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. (B) are limited to the United States A. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. A. Many companies 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. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? Research into ethics and business performance has shown the two are linked in some important ways. TV ads Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. Which of the following are reasons a business should be managed ethically? 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. Mistakes and misunderstandings are bound to happen in any work setting. to increase employee turnover social policy E. All of the answers are correct. D. Outsourcing practices True or false: Many investors believe that by choosing to put their money into companies whose goods and services benefit society, they can improve society's financial health as well as their own. fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. D. Deceptive advertising of food products E. All of the answers are correct, As a new employee, Vanessa has heard her boss say, "Do whatever it takes to meet your sales quota. based on a commitment to integrity and respect Written ethics codes can be categorized as Explanation All else held equal, socially responsible firms: A. are viewed more favourably by consumers. 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. Sherman Act (D) make more money for investors in the short run. [D] To avoid lawsuits, Effective ethics officers: Top leaders from other countries have been charged with bribery. Jake knew that several other employees followed strict company policy every day and always wore their headgear; yet, they were not being acknowledged for their compliance. Practice deception regarding product safety issues. acquisition stalking. D. Integrity watchdog. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. C. Operational initiatives Explanation Typically, it is the kind of information where parties in the know can benefit. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility These steps included creating a climate based on service quality and ethical behavior that guides employees without direct supervision, taking corrective actions before unethical behaviors occur by periodically measuring employees perceptions of the companys ethical climate, and emphasizing the importance of service quality and ethical behaviors as they relate to competition in the marketplace. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. They should display behavior that is honest and fair in their relationships with co-workers and their. employees and internal public relations Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. Defines an organization's guiding principles. the federal government Ethical standards are different from country to country. The authors start from the assumption that most people wish to behave ethically. \end{matrix} [A] Influence peddling Society Economics (/ k n m k s, i k -/) is the social science that studies the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work. building parks (D) long jail terms for those who acted unethically. 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. Is it acceptable if everyone else is doing it? Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions.