Personal projects Explanation [B] passing laws to make accounting records more transparent Business ethics concerns ethical dilemmas or controversial issues faced by a company. What kind of person do you think Paulsen is? an individual's ethics With respect to business ethics, it can be said that "it takes two to tango." An important reason for a company to maintain its ethical reputation is The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. 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? A. . 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 . "It's an ongoing phenomenon that must be better understood and managed and . [D] Political risk taking. it reduces laws and regulations Government and business leaders are being held to U.S. companies tend to overlook and forget human rights abuses abroad. Multiple Choice A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . Source interviews were conducted for a previous version of this article. Motivation. Multiple select question. (B) it is using investors' money in ways they did not intend When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: customers 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: The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Employees and management alike can work together to create businesses that have high standards. When management considers ethics in its actions toward stakeholders, employees can be positively affected. [C] it reduces the likelihood of lawsuits by employees or customers B. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? Determining what is involved for a firm to be socially responsible: A. is easy. Multiple Choice concern for the welfare of society B. enjoy significantly higher profits. [C] The U.S. government will use military force to enforce labor laws.. Defining the concept of ethics more narrowly, and making the definition closer to the definition of legality. socially conscious research organizations. (A) investors putting more money into both markets that they can improve their own financial health by investing in companies whose goods and services benefit the community A. profits. Ethics can be rooted in belief or the pursuit of making the world better. setting a good example. lose sales revenues B. An environmentally friendly business: operates in a sustainable manner, causing minimal damage to the environment and using renewable resources where possible considers where its supplies come from and how they are madeit will work with environmentally responsible suppliers and source materials locally to reduce its carbon footprint Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. A. Overstating an expense report. Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. 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. B. disgruntled workers manipulating budgets and expenses. Ethical problems such as influence peddling and bribery: Explanation Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. 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. Rank the following jobs according to their importance in influencing the implementation of ethical standards. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. Which of the following were not identified as being fundamental to the CSR definition? How does the action I am proposing to take make me feel about myself? All successful businesses communicate effectively. [C] making businesspeople more accountable for their actions 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. They should display behavior that is honest and fair in their relationships with co-workers and their clients. Multiple select question. A. Companies 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. B. ability to plan for the unexpected. [A] They will bribe local officials to change their policies. [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. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: In a business setting, ethical behavior applies to any employee, team lead or supervisor. D. varies from industry to industry. Whistleblowers are often concerned about retaliation. ______ of the ethics code in a timely manner is the most forceful way to communicate its importance. C. Accounting fraud To manage these risks and the ethical obligations they imply, CDOs should work on developing institutional practices for continual learning and interaction with external experts. Which of the following statements is false? False, Whistleblowers can be helped by protecting them from: True false question. The common good is a notion that originated more than 2,000 years ago in the writings of Plato, Aristotle, and Cicero. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. Multiple Choice An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. Should an instance occur, the result could be devastating to your company's finances and reputation. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. corporate raiders. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . . ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. To attract customers To avoid lawsuits To maintain a good reputation Making decisions that we know are different from what is right erodes our self-esteem. Which of the following is a reason why a business should be managed ethically? corporate social initiative Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. B. the police in jurisdictions where the business has operations. When Paulsen describes Storm, he also gives clues about his own personality. We covered: How data teams can actually design ethical ML models, after . an individuals behavior is influenced by the behavior of others. E. law. \text{Variable manufacturing overhead} & \text{0.60}\\ Explanation Compliance-based ethics codes Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. reaches broad and diverse groups Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. Prepare computations showing how much profits will increase or decrease as a result of making the starters. increased financial donations to local areas but pulled away from national and global contributions. A business should be managed ethically for many. It is essentially a moral compass. many Americans decide what's ethical based upon the situation in which they find themselves. \text{Total production cost} & \text{\$ 9.20}\\ standards. social justice. Explanation [B] allowing management to decide the outcomes of investigations general guiding values 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 This is due to the fact that our ethics are shaped by our moral code. True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. Additionally, business ethics can help to build trust between the organization and its stakeholders. free from the concern of Explanation 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. Which of the following statements about business ethics is false? the collection of laws to protect society from fraud, theft, and violence. C. the increase in lawsuits used to avoid personal responsibility. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. C. help laid-off employees get their jobs back. 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. Multiple choice question. Supports ethically sound behavior Heres How to Fix It, 10 Common Leadership Mistakes Youre Probably Making, Creating a Diversity and Inclusion Training Program, How to Be an Ethical Leader: 10 Tips for Success, Disrespectful Employees? integrity-based ethics it attracts and retains customers TV ads Compliance-driven ethics standards [B] To maintain a good reputation retain better employees D. Outsourcing practices [A] outsourcing enforcement of the laws to private firms Dodd-Frank Wall Street Reform and Consumer Protection Act social media. Business ethics benefits the bottom line. [B] about being fair and honest with their stakeholders Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. corporate social initiative C. moral philosophy. <br> I . Multiple select question. (B) have higher turnover A number of ethical scandals in the past decade have raised awareness of ethical issues in business. B. an individual's behaviour is influenced by the behaviour of others. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: Answer (1 of 4): When you manage a business ethically it attracts the right people that can suit your company culture and proficiently fit with your business. Global Business Ethics. Multiple Choice (A) businesses who are socially responsible will earn more (B) are limited to the United States Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. employees and internal public relations It does not subtract from the bottom line; it adds to it. True (C) occur in many countries What are the causes of pay discrimination in the labor market? Depreciation is due to obsolescence rather then wear and tear. (C) make students who know how to plagiarize well acceptable to employers Multiple choice question. An important factor in enforcing ethics codes is selecting a(n) ________ ________. ethical officers This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. (D) long jail terms for those who acted unethically. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ Typically, it is the kind of information where parties in the know can benefit. Multiple choice question. Resource procurement and consumption practices Which of the following should help reduce the incidence of unethical behavior in an organization? create an open-door policy, protect them from retaliation A. A. Diversity and discrimination B. China is a communist country. D. Outsourcing practices Multiple Choice True false question. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. C. all levels of management. The primary value of using social media to communicate CSR efforts is that it allows companies to reach broad and diverse groups, allows them to connect directly with customers in a low-cost, efficient way, and enables them to interact with specific groups more easily than through more traditional efforts. ___________ __________ ______________is a business's concern for the welfare of society. allows them to reach specific groups more directly, allows them to connect directly with customers Those who argue in favour of corporate social responsibility suggest that: False. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. B. Whistleblowing C. Plagiarism In one such study, led by Kaifeng Jiang, a professor at the Ohio State University Fisher College of Business, researchers examined the intersection between the quality of service a business offers and its adherence to ethical mores by looking into conditions at nearly 200 movie theaters.
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