B. (D) businesses cannot succeed in societies that fail. Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. Suppliers capitalism 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. But when they do, employees need to take accountability for their actions. (D) long jail terms for those who acted unethically. 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. If an ethical tone is set at the top and followed by management, everyone who works there will hold themselves and each other to those standards. B. varies even among those who are interested in corporate responsibility. government-supported direct mail campaigns Business ethics isnt always exalted in every workplace, but its critically important when it comes to providing customers with quality service, adhering to regulatory compliance standards, and avoiding steep fines and lawsuits. Resource procurement and consumption practices B. C. the increase in lawsuits used to avoid personal responsibility. 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. enjoy greater employee loyalty Demanding Ethical and Socially Res, Intro-Into-Business: Ch. It does not subtract from the bottom line; it adds to it. for the welfare of society as a whole, about being fair and honest with their stakeholders When there is a standard of accountability at an organization, its people hold themselves and their peers to a standard of responsibility. Businesses can show their CSR in many ways. can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. Many companies That person called five of his relatives and several friends. 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. B 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. There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. 2. 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. protect them from retaliation How are these two rates measured? A. Notes. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. Periodically asking every employee to evaluate the company's ethics performance. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. CSR can lead to even more profits. Studies have found a _____ correlation between academic dishonesty and dishonesty at work. When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. Top management 1. [A] making the charges public before the investigation D. structure and strategy. E. Employee benefit programs. Ethical behavior has significant upfront costs which may never be recovered. allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: A. (D) occur in only a few countries. 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. clarifying what green means 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. Multiple choice question. The rent charge above is based on space utilized in the plant. Multiple choice question. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ An organization's managers instill corporate values and _____________________ in employees by the examples they set. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. 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. information technology D. Integrity watchdog. B. an individual's behaviour is influenced by the behaviour of others. Chapter 4 LearnSmart Quiz Flashcards | Quizlet it reduces laws and regulations A New Model for Ethical Leadership - Harvard Business Review The benefit of using __________ to communicate a business's CSR efforts to the public is that it allows companies to reach broad and diverse groups directly in a low-cost, efficient way. Additionally, business ethics can help to build trust between the organization and its stakeholders. is costly, but worthwhile in reaching specific customers social audit. D. expanding the opportunity to behave ethically by providing punishments for following the rules. The employment of ethical business practices can enhance overall corporate health in three important areas. B. (nervous). Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. 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. Ethics may seem like an intangible, but there is a clear connection to overall performance. internal search and occupy organizations. Running a business in an ethical manner from the top down establishes stronger bonds between individuals on the management team. 22. The total rent on the plant is$80.000 per period. The last recession changed the way many companies offer support to people and communities in need. The first area is productivity. 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. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. Explanation A business's responsibilities to its owners and investors include Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? 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. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. A business should be managed ethically because, businesses with good reputations attract customers. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. D. companies who are perceived as being socially responsible will ultimately earn more profits for their B. 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. Multiple Choice Although this can be a lot of work, it can also positively impact the bottom line, protect a companys brand and result in higher customer satisfaction. In turn, employees will trust that their leadership team is working toward the greater good of the entire company. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. (A) it prevents government audits Shared accountability among employees. 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. Reading: Global Business Ethics | International Business - Lumen Learning When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. to increase employee turnover Trustworthiness. [D] requiring all bankers to sign ethical codes. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. Discrimination and Harassment. socialism 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. A. expanding the opportunity to behave ethically by providing rewards for following the rules. reaches broad and diverse groups 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. In the workplace, there might be a standard for ethics set throughout the company. Another reason why business ethics is important is that it can improve profitability. penalizing wrong-doers, increasing control B. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. Multiple choice question. Employees and management alike can work together to create businesses that have high standards. the federal government (B) are limited to the United States This will ensure that you have trustworthy employees working for you. general guiding values This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. An ethically managed business helps to reduce employee turnover. Its easier for a business to retain employees when they work for a company that they believe in. TV ads Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. [C] making businesspeople more accountable for their actions that they can improve their own financial health by investing in companies whose goods and services benefit the community The many small choices we make daily about working or goofing off, using company phones and computers responsibly, and following safety rules, make it clear that __________ decisions start with each individual. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. increasing the diversity of their workforce Dont make ethics an afterthought in your company culture. Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. Compliance-based ethics codes focus on: leaving unethical behavior unpunished An important factor in enforcing ethics codes is selecting a(n) ________ ________. Multiple choice question. 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 All else held equal, socially responsible firms: A. are viewed more favourably by consumers.
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