a business should be managed ethically because
\text{ } & \text{Per Unit} & \text{Total}\\ Multiple Choice Top management [A] They will bribe local officials to change their policies. U.S. companies follow the lead of consumers, and at this time, there is no evidence of a trend toward concern for better human rights and environmental standards. '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. Which of the following are reasons a business should be managed ethically? 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} (B) going to save money by not hiring those who are disabled About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. Its easier for a business to retain employees when they work for a company that they believe in. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? 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. providing safety equipment and training for their workers, increasing the diversity of their workforce ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. Reevaluating its ethics codes based on the input of its customers. 'Business' can also mean an entity that offers goods and services for exchange, i.e., that sells things. Sarbanes-Oxley Ruling D. operating ethically, honestly and lawfully E. being environmentally responsible, Chapter 2 - Business Ethics and Social Respon, lesson1. Explanation Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. about being fair and honest with their stakeholders (C) benevolence is the highest virtue A. When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. 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. social justice. Internal auditors 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. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. Multiple Choice One entity (e.g., a person, a firm) "does business" with another when it exchanges a good or service for valuable consideration, i.e., a benefit such as money. 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. What occurs when an employee exposes an employer's wrongdoing to outsiders? Which of the following are reasons a business should be managed ethically? ethical officers Discrimination and Harassment. [C] To increase employee turnover draw more customers, Many investors believe A well-implemented ethics program can also reduce losses. True C. Research practices [C] Paying U.S. minimum wage Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is fascism The You Design, We Build Company makes custom furniture of all kinds. shareholders A. the breakdown of traditional religious institutions. Ethical behavior has significant upfront costs which may never be recovered. E. All of the answers are correct. C. Investor relations This, then, creates greater stability within the company.. C. It is the law in the U.S. D. Employees. The rent charge above is based on space utilized in the plant. 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. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ It's the age-old reality: "Out-of-sight, out-of-mind." D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? corporate responsibility [B] most of those who caused the crisis going to jail Depreciation is due to obsolescence rather then wear and tear. An important reason for a company to maintain its ethical reputation is is a branch of philosophy that seeks to address questions about moralitythat is, about concepts such as good and bad, right . \end{array} social order ethics 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. C. a loss of employee commitment and trust in the company and its management. Which of the following should help reduce the incidence of unethical behavior in an organization? Codes of ethics foster ethical behavior by draw more customers, retain better employees separating themselves from suppliers who violate Supervisor 2. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. global policy Defines an organization's guiding principles. 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. Corporate social responsibility (CSR) is the concern businesses have for the welfare and betterment of society. 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 (A) have fewer loyal customers but attract more of them Multiple choice question. E. help restore confidence in Corporate America and Canada. Multiple Choice Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. A. Internet Which of the following are examples of outside stakeholders that must be told about a company's ethics program? Multinational corporations are committed to operating within the legal limits of U.S. law. D. Integrity watchdog. Business Ethics is important because it helps organizations create a code of conduct that they can rely on to make decisions. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. B. philanthropy. Which of the following represent examples of how corporations set positive standards of ethical behavior? Explanation E. A criminal lawsuit. Fraud CSR can lead to even more profits. ethical standards that are often unreasonable and cannot be met by most leaders. A business's responsibilities to its owners and investors include 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. \text{Direct labor} & \text{2.70}\\ Unethical behavior by financial and real estate businesses has led to [D] only with their responsibility to their shareholders, A company that has socially responsible human resources management is A business should be managed ethically because Multiple select question. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. 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." Mistakes and misunderstandings are bound to happen in any work setting. Community members are bound by the pursuit of common values and goals. \text{Variable manufacturing overhead} & \text{0.60}\\ A business should be managed ethically because, businesses with good reputations attract customers. How are these two rates measured? [D] To avoid lawsuits, Effective ethics officers: Rank the following jobs according to their importance in influencing the implementation of ethical standards. Economic conditions in some developing countries make child labor a necessity for the survival of families. [C] can be trusted to maintain confidentiality Who sets the standards of right and wrong as defined by ethics? higher ethical standards than in the past. Multiple Choice True B. improve corporate profits. increased financial donations to local areas but pulled away from national and global contributions. allows them to connect directly with customers If an underlined word is already in the correct possessive form, write a C on the line. [C] making businesspeople more accountable for their actions Studies have found a _____ correlation between academic dishonesty and dishonesty at work. [C] only to compete and make a profit social audit. Multiple choice question. compliance police. \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ Synonym Discussion of Ethical. higher ethical standards than in the past. Multiple Choice On the line provided after the sentence, write the possessive form of the underlined words. A. Should an instance occur, the result could be devastating to your company's finances and reputation. Corporate social responsibility describes the firm's: A. responsibility to their stockholders. (A) investors putting more money into both markets it attracts and retains customers [D] requiring all bankers to sign ethical codes. A. guilt payments. an individual's ethics Though there are many ethical opinions that most people share, ethics will differ from person to person. The moral and ethical standards by which leaders are judged are far stricter than in the past. Part-time co-workers. Then, of course, there are the more serious consequences of highly unethical behavior. Explanation free from the concern of Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. 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. According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? 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. Dont make ethics an afterthought in your company culture. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? True false question. In fact, data collected by Ethisphere, an organization that tracks the ethical conduct of the worlds largest companies, found that the businesses listed on its 2022 list of most ethical companies outperformed an index of similar large cap companies by 24.6 percent overall. Resource procurement and consumption practices C. Operational initiatives Think about a business that hires only family or one that gives inappropriate incentives, for example. [B] share all information with managers when requested 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. A. 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. All successful businesses communicate effectively. B. (D) businesses cannot succeed in societies that fail. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. D. guideline. 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. U.S. companies that operate abroad, particularly those who contract with foreign companies, are now ________ human rights and environmental standards followed by U.S. law. Multiple choice question. 8 Mini-Case Study, Intro-Into-Business: Ch. Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? [A] making the charges public before the investigation C. providing all relevant information about current and projected performance of the firm. Is it acceptable if everyone else is doing it? 'Business' can mean an activity of exchange. However, it was disclosed that somehow a member of Paulie's management team mentioned the deal to a person he sat next to on a flight from LA to Seattle. Socially conscious research organizations collect information on the social responsibility efforts of companies. I'm a Product Manager with experience working cross-functionally with business roles (e.g. Multiple choice question. (D) make more money for investors in the short run. (C) occur in many countries 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. integrity-based Companies Product safety False. For example, a code of ethics at a doctors office might include putting the patient first and remaining understanding in tough situations. Corporate social responsibility is based on a Everyone with whom the business has dealings. B. an individual's behavior is influenced by the behavior of others. 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. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? (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: Multiple select question. a written code of ethics Global Business Ethics. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? This is the third year of operations for the company. Which of the following were not identified as being fundamental to the CSR definition? This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. In the long run, CSR enhances profits. B Top management must adopt and support a corporate code of conduct. [D] They may choose to cancel orders when there are environmental abuses. B. opportunity. The term business ethics refers to the set of moral principles that guides a company's conduct. D. Mayhem additional taxes Determining what is involved for a firm to be socially responsible: A. is easy. 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: Research has shown that companies engaged in corporate social responsibility (CSR): D. concern for the welfare of society. In the following sentence, circle the subject of the underlined verb. 1. The amount of pollutants a firm unleashes into the environment would serve as an example of a negative activity that would be included in the social audit measurements. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. (C) attract and retain better employees [B] it increases the likelihood of government intervention China is a communist country. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. Multiple Choice C. business exists only to make money for shareholders.
