On the line provided after the sentence, write the possessive form of the underlined words. 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. That person called five of his relatives and several friends. [D] To avoid lawsuits, Effective ethics officers: B. 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. Ethical behavior includes honesty, fairness, integrity and understanding. However, the company has sufficient idle tools and machinery that no new equipment would have to be purchased. About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. Compliance-based ethics codes B. focus on cost and quality control systems within your organization. Amber was observing an example of the ___________ followed at this organization. \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ A. guilt payments. School McMaster University; Course Title COMMERCE 1E03; Type. B. the police in jurisdictions where the business has operations. __________ ___________ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. '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. B. an individual's behavior is influenced by the behavior of others. It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others. Business ethics helps to optimize company resources. Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. Multiple choice question. Maria Juarez is a professional tennis player, and your firm manages her money. For many years Futura Company has purchased the standard that it installs in its standard line of farm tractors. [B] share all information with managers when requested ___________ __________ ______________is a business's concern for the welfare of society. Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. A business should be managed ethically because, businesses with good reputations attract customers. social audit. The first area is productivity. Integrity-based ethics codes This is an example of corporate: It's the age-old reality: "Out-of-sight, out-of-mind." In the long run, CSR enhances profits. (C) benevolence is the highest virtue Multiple Choice A. Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. D. concern for the welfare of society. corporate inclusion policy \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ Global Business Ethics. [A] few losses to investors B. enjoy significantly higher profits. C. Accounting fraud (B) it attracts and retains customers A leader designing an ethical culture should try to create contexts that keep ethical principles top of mind, reward ethics through formal and informal . (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: 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. concern for the welfare of society All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. C. commitment to a management training program. True false question. [C] making businesspeople more accountable for their actions Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. 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. Periodically asking every employee to evaluate the company's ethics performance. penalizing wrong-doers. A business's responsibilities to its owners and investors include True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. Multiple Choice 22. Chapter 4. allows them to connect directly with customers social initiatives it attracts and retains customers B. opportunity. Chapter 4. compliance police. Many companies believe they have a role in promoting ______ ______ that goes way beyond simply "giving back. C. An ethics office must be set up. Here are two examples of strategies for engaging it: First, make more of your decisions by comparing options rather than assessing each. The motives of those involved in unethical behavior that caused the financial crisis in the real estate, banking, and mortgage industries included: Who sets the standards of right and wrong as defined by ethics? There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. By being ethical, leaders can foster an environment that rewards and encourages good attitudes. In fact they contribute to it: 1. A. protecting the owners' rights and investments. 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. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? providing safety equipment and training for their workers, increasing the diversity of their workforce Trustworthiness. Organizational ethics begins Multiple Choice at the top levels of management. InsuranceExpenseServiceRevenueUtilitiesExpenseRentExpenseCommonStockCashRetainedEarnings,Jan.1,2016$2,00080,00050011,0008,5007,0004,800SalariesExpenseAccountsPayableOfficeSuppliesDividendsAccountsReceivableEquipment$37,0004,3001,5004,5007,50026,600. Prepare computations showing how much profits will increase or decrease as a result of making the starters. C. teamwork eliminates a need for personal ethics. 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. An integrity-based ethics code defines the organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability. Multiple Choice [A] outsourcing enforcement of the laws to private firms 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. 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? Typically, it is the kind of information where parties in the know can benefit. D. management is insensitive to ethical issues. (B) it is using investors' money in ways they did not intend 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. D. Pricing practices As a philosophy, ethics are the principles that guide a person's behaviour. Those who have others interests in mind when they make decisions are displaying ethical behavior. Explanation (C) to increase employee turnover Corporate responsibility Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. Which of the following statements is false? The side effects are so great that the society urges that the business should always be ethically and socially responsible. 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. C. providing all relevant information about current and projected performance of the firm. List the most influential on top. 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. Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Harassment and discrimination are arguably the most prominent contemporary ethical issues in business today. 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 The rent charge above is based on space utilized in the plant. Practice deception regarding product safety issues. <br><br>Customer care professional with experience in building customer loyalty, analyzing customer behavior, creative customer relationship . In ethics and social sciences, value denotes the degree of importance of some thing or action, with the aim of determining which actions are best to do or what way is best to live (normative ethics in ethics), or to describe the significance of different actions.Value systems are prospective and prescriptive beliefs; they affect the ethical behavior of a person or are the basis of their . allows them to reach specific groups more directly. 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. The last recession changed the way many companies offer support to people and communities in need. Suppliers Multiple select question. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? The You Design, We Build Company makes custom furniture of all kinds. False, Whistleblowers can be helped by protecting them from: Due to the fact that it is not yet public, those who act upon the information have an unfair advantage and stand to gain financially. building parks (B) are limited to the United States Packaging requirements Therefore, it is the most significant resource to run or upgrade any business. Part-time co-workers. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. It seeks to promote honesty, fairness, and responsibility in all advertising. 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. The moral and ethical standards by which leaders are judged are far stricter than in the past. Multiple choice question. Ethical problems such as influence peddling and bribery: [A] They will bribe local officials to change their policies. Sarbanes-Oxley Ruling Ethical behavior means your team operates according to fair and transparent standards, not just complying with legal rules or regulatory requirements, but going above and beyond to ensure decisions are applied through an ethical lens. social auditing, Which of the following are examples of outside stakeholders that must be told about a company's ethics program? On the flip side, a leader who personifies ethical behavior will be fair in all situations. Whistleblowers are often concerned about retaliation. Specific decisions made by your organization, whether by an individual or the entire group, can have a massive impact on how your company is viewed and the reputation it cultivates for itself. This is especially so when the market is very competitive, because then the customers have a lot of options and could switch to another product or service provider.. Top management must adopt and support a corporate code of conduct. Which of the following statements about business ethics is false? In running a successful business, a key factor in that success will be the ethical and moral standards of yourself, your leaders, and your entire team. asking suppliers to lower their standards to be in compliance with Complete each sentence with the comparative or superlative form of the modifier in parentheses. actual ethics. If your supervisor directed you to enter false information into a sales order book and told you if you refused that you would lose your opportunity for promotion, you would probably consider this situation to be a(n), According to the text, ethical behavior begins with. The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. socialism Multiple select question. Multiple choice question. A company's effectiveness and financial performance are most affected by responsible _________ _________ management. J. M. D'Aquila, D. F. Bean, and E. G. Procario- Foley (2004) reported that 97% of business leaders perceive American businesses as ethical, versus 24.5% of students. Explanation Supervisor 4. Displaying good ethical behavior can boost company morale and client relations. Both positive and negative activities are measured. One strategy guaranteed to displease your customers is to: Corporate social initiative refers to a company taking the initiative to utilize its expertise and resources to make a situation better. [B] it increases the likelihood of government intervention Target is a business. These examples of ethical behaviors ensures maximum productivity output at work. B. Internal auditors Managing Business Ethics takes the view that ethical and unethical conduct are primarily the product of how systems align within an organization to promote certain kinds of behavior. Multiple select question. An important factor in enforcing an ethics code is: he 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. C. often experience customer loyalty problems. What does the research into business ethics say? ignoring both ethical and unethical behavior Backend and front-end engineers, data scientists) as well as designers and UX researchers to bring products to life that make our users' problems and pain-points go away!<br><br>As a product manager I have to wear different hats every day and I excel at . B. ability to plan for the unexpected. True An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. Here are other common examples of ethical behavior: No matter the relationship between two people and what they agree or disagree upon, people within an organization should always respect each other. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. 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. 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. 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. In "Two Kinds," how does the narrator feel after the talent show? of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition government-supported direct mail campaigns Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Which of the following are examples of outside stakeholders that must be told about a company's ethics program? \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ China is a communist country. demanding that international suppliers adhere to higher, more costly standards than their American counterparts. B. improve corporate profits. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. Sean Peek has written more than 100 B2B-focused articles on various subjects including business technology, marketing and business finance. only with their responsibility to their shareholders Executives at Enron and Tyco were found guilty ____________ of behavior that damaged their companies' reputations, The emergence of the green movement has affected businesses by.
