a business should be managed ethically because

Motivation. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. (A) have fewer loyal customers but attract more of them The You Design, We Build Company makes custom furniture of all kinds. about being fair and honest with their stakeholders not concerned with the ethical or socially responsible behavior of their international suppliers. it reduces laws and regulations of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition An important factor in enforcing ethics codes is selecting a(n) ________ ________. D. expanding the opportunity to behave ethically by providing punishments for following the rules. \text{Supervision} & \text{1.50} & \text{\$ 60.000}\\ Complete each sentence with the comparative or superlative form of the modifier in parentheses. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. Top management must adopt and support a corporate code of conduct. Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. 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 . cultural and accountable aggregate independent appraisal. An important reason for a company to maintain its ethical reputation is Governments B. helping others fairness, honesty, openness, _____________________________are insiders who report illegal or unethical behavior. We covered: How data teams can actually design ethical ML models, after . Maria Juarez is a professional tennis player, and your firm manages her money. From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. integrity-based ethics (D) long jail terms for those who acted unethically. allow for complete anonymity True false question. Employees and management alike can work together to create businesses that have high standards. B. limiting the opportunity to behave unethically by providing punishments for violations of the rules and Internal auditors Research has shown that companies engaged in corporate social responsibility (CSR): Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. A. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. Ethics can be rooted in belief or the pursuit of making the world better. increased financial donations to local areas but pulled away from national and global contributions. corporate beneficial management 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. 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. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. [A] few losses to investors D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? Multiple choice question. Multiple Choice Integrity-driven ethics codes Therefore, it is the most significant resource to run or upgrade any business. TV ads Top management at Lancer Distributing is convinced that they have a social responsibility to their community. D. maximizing their investment in the firm. These define the company's guiding values, and most often it involves shared accountability. Customer privacy policies and practices B. Examples of ethical behaviors in the workplace includes; obeying the company's rules, effective communication, taking responsibility, accountability, professionalism, trust and mutual respect for your colleagues at work. True false question. Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. When managers appear to disregard ethical concerns, the likely results would include: A. reduced employee turnover. A business should be managed ethically because, businesses with good reputations attract customers. E. Consumer safety information, Which of the following is NOT one of the "Business System Design and Development" responsibilities? socially conscious research organizations. Corporate philanthropy 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. 8 Mini-Case Study, Intro-Into-Business: Ch. Business should be managed ethically because Businesses with good reputations attract customers It reduces employee turnover It reduces the likelihood of lawsuits by employees or customers True or false: individuals have social responsibilities regarding their ethical behavior in the business world. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". (C) 4 out 5 citizens volunteer an hour each week C. Expanding opportunity by providing punishments for violations of the rules D. Overlooking violations of codes of ethics C. a loss of employee commitment and trust in the company and its management. Which of the following describes charitable donations by corporations to nonprofit organizations? Explanation Vanessa recognizes this as a(n) ________-based code of ethics. D. management is insensitive to ethical issues. [D] Political risk taking. Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? The moral and ethical standards by which leaders are judged are far stricter than in the past. Many companies Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. Explanation Due to a reduction in output, the company has idle capacity that could be used to produce the starters. retaliation 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. B. B Italian Stallion stockholders got a very fair deal for the stock they owned in the company. Multiple Choice 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. Uploaded By Coleton99; Pages 108 Ratings 100% (5) 5 out of 5 people found this document helpful; Top leaders from other countries have been charged with bribery. whistleblowers. 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? There are a wide variety of examples of ethical behavior in the workplace. Which of the following are reasons a business should be managed ethically? One strategy guaranteed to displease your customers is to: American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. allows them to reach specific groups more directly, allows them to connect directly with customers B. opportunity. Discrimination and Harassment. general guiding values Scandals. Demanding Ethical and Socially Res, Intro-Into-Business: Ch. 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. moral impropriety. Suppliers standards. B. a failure of leadership to establish ethical standards. [C] To increase employee turnover Ethical behavior includes honesty, fairness, integrity and understanding. China is a communist country. 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. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. benevolence can lead to a vote of no confidence by company stakeholders. C. Education and training 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. (D) affect hiring practices very little. 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. C. commitment to a management training program. In fact they contribute to it: 1. D. Outsourcing practices Business ethics concerns ethical dilemmas or controversial issues faced by a company. C. Research practices C. Watch tower sentinel Which of the following is a reason why a business should be managed ethically? increased their financial donations because they understood how badly society needed a helping hand. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? actual ethics. Multiple Choice True analysts. HR professionals sometimes face ethical or moral dilemmas. an individuals behavior is influenced by the behavior of others. decreased financial donations and eliminated support in almost every way. CSR can lead to even more profits. About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: B. Whistleblowing C. Plagiarism B. [B] To maintain a good reputation \text{Direct labor} & \text{2.70}\\ In a business setting, ethical behavior applies to any employee, team lead or supervisor. List the most influential on top. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. Implementing ethical standards within an organization starts with: An employee who reported her boss to the SEC for insider trading would be considered a(n) _____________ protected by law. Ethical behavior positively impacts a businesss financial performance. the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. A few months ago, Paulie's Pizza House, a large nationwide chain of restaurants, purchased one of its competitors, Italian Stallion Pizza Stations, for $800 million. 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. Multiple choice question. Ethical issues are limited to for-profit organizations. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is whistleblowers The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. unethical Top management (B) lack of trust in the free market system 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. C. providing all relevant information about current and projected performance of the firm. True \text{Depreciation} & \text{1.00} & \text{\$ 40.000}\\ A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . Amber was observing an example of the ___________ followed at this organization. compliance-based ethics B. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. D. Integrity watchdog. D. short run profit maximization. A. Global Business Ethics. (C) occur in many countries E. Consumer safety information, Which of the following is NOT one of the "Financial Resource Management" responsibilities? 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. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. It seeks to promote honesty, fairness, and responsibility in all advertising. D. integrity. All successful businesses communicate effectively. Although these actions were not part of the mandatory waitstaff training, Amber perceived that waitstaff members who were not helping out were not viewed as team players by the majority of employees.

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