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Supervisor 4. retain better employees Businesses must abide by some basic principles. [A] They will bribe local officials to change their policies. ERIC - EJ817941 - Using Ethics Vignettes in Introductory Finance C. a loss of employee commitment and trust in the company and its management. (C) 4 out 5 citizens volunteer an hour each week decreased financial donations and eliminated support in almost every way. corporate responsibility These actions are Business principle (3) Flashcards | Quizlet Distributors. In "Two Kinds," how does the narrator feel after the talent show? because strict global regulations require it, learned by observing the actions of others in the organization. global policy 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 . This will ensure the stability of all structural parts, help to form a sense of belonging to one community with the same goals and aspirations. C. teamwork eliminates a need for personal ethics. 2. The side effects are so great that the society urges that the business should always be ethically and socially responsible. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ social audit. an individual's ethics Complete each sentence with the comparative or superlative form of the modifier in parentheses. social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? With respect to business ethics, it can be said that "it takes two to tango." Multiple Choice Explanation C. Watch tower sentinel He also believed anything other than that would be considered: Customer privacy policies and practices Corporate social responsibility is based on a B. ability to plan for the unexpected. Multiple Choice D. Outsourcing practices 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 employment of ethical business practices can enhance overall corporate health in three important areas. C. diversity because strict global regulations require it Corporate values are: Other countries also follow capitalist principles. Codes of ethics foster ethical behavior by Which of the following is the BEST reason for a business to be managed ethically? Vanessa recognizes this as a(n) ________-based code of ethics. 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} Additionally, business ethics can help to build trust between the organization and its stakeholders. firms should take added caution not to support government programs that protect the environment. B. Which of the following are reasons a business should be managed A. ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. Business Ethics - Overview, Examples, Components of Business Ethics Businesses should be managed ethically because it is the right thing to do, it is legal and keeps the government from writing new laws, it is good for employee turnover, maintains a good reputation, keeps customers and attracts new ones, pleases employees and society Compliance based ethics code An appearance of conflict exists when a reasonable person looking at the situation from outside (and without personal knowledge of anyone involved) will conclude from the circumstances that the employee's ability to perform his or her duties may be compromised by personal interest. human resource support staff True false question. Explanation [C] To increase employee turnover There are a wide variety of examples of ethical behavior in the workplace. B. focus on cost and quality control systems within your organization. E. help restore confidence in Corporate America and Canada. employees and internal public relations \end{matrix} Resource procurement and consumption practices Ethical behavior does not matter to investors. She was even _____ after her solo than before. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. Demanding Ethical and Socially Res, Intro-Into-Business: Ch. E. all of the answers are correct. Those who have others interests in mind when they make decisions are displaying ethical behavior. Religious institutions, Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? [B] passing laws to make accounting records more transparent A. responsibility 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 . decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. allows them to reach specific groups more directly, allows them to connect directly with customers It may just be the cornerstone of your success. Both positive and negative activities are measured. A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ [C] Paying U.S. minimum wage 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. compliance police. If an underlined word is already in the correct possessive form, write a C on the line. Which of the following statements is false? An important factor in enforcing ethics codes is selecting a(n) ________ ________. likely to perform better financially Dont make ethics an afterthought in your company culture. investors. D. integrity. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . D. Structural commitment, Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution. Multiple choice question. What are the causes of pay discrimination in the labor market? C. It is the law in the U.S. D. Employees. A code of ethics builds trust and credibility in an organization and creates a culture of open and honest communication. higher ethical standards than in the past. In fact they contribute to it: 1. going to save money by not hiring those who are disabled \text{Rent Expense} & 11,000 & \text{Dividends} & 4,500 \\ social audit. HR Ethical Dilemmas - SHRM Community members are bound by the pursuit of common values and goals. Paying employees on specified pay dates most of the time. C. An ethics office must be set up. Ethics in Management | Encyclopedia.com decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ B. opportunity. Full-time co-workers 3. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. 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. 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? If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: What motivated the unethical behavior of real estate agents, lenders, and borrowers that led to the financial crisis of 2008? 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. Why a Business Should be Managed Ethically? - The Business Guru This indicates that: A. dancing around issues should be part of a firm's code of ethics. (D) going to lose money by providing pay raises, A business should be managed ethically because Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Chapter 4 - Homework ( Introduction To Business) - Quizlet The total rent on the plant is$80.000 per period. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. Multiple choice question. Multiple select question. opportunity influence ethical behavior Trust and cooperation between workers and managers must be based on which of the following? Explanation building parks Less than 202020 percent of the eligible voters has\underline{\text{has}}has an opinion about that subject. integrity-based ethics Multiple Choice Which of the following would least likely involve ethical concerns? Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ Ethics in the Workplace: Examples & Tips | PayScale It is an act that is against the law and against Securities and Exchange Commission policy. aggregate independent appraisal. I'm a Product Manager with experience working cross-functionally with business roles (e.g. allows them to reach specific groups more directly. The ethics code must be enforced. "It's an ongoing phenomenon that must be better understood and managed and . D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. CSR can lead to even more profits. A business's responsibilities to its owners and investors include 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. for the welfare of society as a whole, True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. B. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . D. Outsiders must be told about the ethics program. Multiple select question. corporate raiders. 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. About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. Top leaders from other countries have been charged with bribery. social initiatives 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. socially conscious research organizations. 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. Its easier for a business to retain employees when they work for a company that they believe in. 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. not concerned with the ethical or socially responsible behavior of their international suppliers. increased financial donations to local areas but pulled away from national and global contributions. reducing regulations about labeling 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? corporate raider divisions. it makes financial as well as moral sense to invest in companies that plan to create a better environment, Companies that try to act in a socially responsible way are likely to focus on such activities as <br> I . (A) are just part of doing business Shared accountability among employees. B. Economic conditions in some developing countries make child labor a necessity for the survival of families.