Compliance-driven ethics standards allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: If an underlined word is already in the correct possessive form, write a C on the line. U.S. law does not require U.S. firms to comply because of competitive advantage concerns. There are a wide variety of examples of ethical behavior in the workplace. Explanation draw more customers, Many investors believe Multiple choice question. social policy Is it acceptable if everyone else is doing it? [C] making businesspeople more accountable for their actions Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? Ethical behavior includes honesty, fairness, integrity and understanding. The total rent on the plant is$80.000 per period. B. Startup Costs: How Much Cash Will You Need? Paying employees on specified pay dates most of the time. [C] it reduces the likelihood of lawsuits by employees or customers Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet B. expressing dissatisfaction by protesting. \text{Utilities Expense} & 500 & \text{Office Supplies} & 1,500 \\ C. helps government officials develop appropriate legislation. A company that has socially responsible human resources management is Typically, it is the kind of information where parties in the know can benefit. Amber was observing an example of the ___________ followed at this organization. Which of the following is the BEST reason for a business to be managed ethically? Compliance-based ethics codes focus on: The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. 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. 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. C. Operational initiatives B. because strict global regulations require it. Which step is the most critical to help improve business ethics? Multiple Choice 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. 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? Integrity-driven ethics codes Financial transparency \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ How to Get a Bank Loan for Your Small Business, How to Conduct a Market Analysis for Your Business, Guide to Developing a Training Program for New Employees. All successful businesses communicate effectively. analysts. This is an example of corporate: Supervisor 4. Which of the following represent examples of how corporations set positive standards of ethical behavior? Which of the following are reasons a business should be managed an individuals behavior is influenced by the behavior of others. D. varies from industry to industry. Multiple Choice Business ethics is the system of moral and ethical beliefs that directs the behaviors and operations of an organization and its personnel. Business Should Always Be Ethically and Socially Responsible Which of the following is a reason why a business should be managed C. to attract new customers and retain existing customers. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. <br> I . A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. A. based on a commitment to integrity and respect and C. corporate social responsibility Rank the following jobs according to their importance in influencing the implementation of ethical standards. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? plan to maximize profits for shareholders to spend in communities Safe working conditions What Does Ethical Decision Making Mean? Multiple choice question. Multiple Choice 'Business' can mean an activity of exchange. The last recession changed the way many companies offer support to people and communities in need. Society standards. C. business exists only to make money for shareholders. One employee whose name was at the top of everybody's list was instrumental in helping another employee who failed to wear his protective headgear to avoid suffering a serious head injury. China is a communist country. lose sales revenues reaches broad and diverse groups She was even _____ after her solo than before. Due to a reduction in output, the company has idle capacity that could be used to produce the starters. The term business ethics refers to the set of moral principles that guides a company's conduct. concern for the welfare of society Which of the following is not one of the approaches associated with corporate social responsibility? (B) it is using investors' money in ways they did not intend Chapter 4 - Homework ( Introduction To Business) - Quizlet [C] conducting objective investigations Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. The international Day Of Pe, Chapter 3 Doing Business in a Global Markets, 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, Spring 2018 Final Exam Review Chapters 8,9,10. (B) make employers reluctant to hire those who have cheated A business should be managed ethically because, businesses with good reputations attract customers. only to compete and make a profit D. structure and strategy. [A] making the charges public before the investigation 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. corporate social initiative As a philosophy, ethics are the principles that guide a person's behaviour. employees and internal public relations Which of the following are true regarding ethical behavior? (C) likely to perform worse financially The most basic question in an ethics-based management system is. called stakeholder interest 8 Current Ethical Issues in Business (and How to Manage Them) Corporate philanthropy Which of the following statements about business ethics is false? compliance police. A high ethical standard extends to customers as well. A business should be managed ethically for many reasons: to maintain a good reputation; to keep existing customers and attract new ones; to avoid lawsuits; to reduce employee turnover; to avoid government intervention; and to please customers, employees, and society. Multiple Choice Unethical behavior has consequences for future business, including heavy fines, expensive lawsuits and reputational damage. Why Business Should Be Managed Ethically - Liveboardroom.info Which of the following are reasons a business should be managed ethically? can encourage employees to deceive customers, Following an ethics-based approach to decision making will normally lead to higher ________. (B) are limited to the United States Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. A. responsibility Top management 1. Packaging requirements Businesses must abide by some basic principles. Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. not concerned with the ethical or socially responsible behavior of their international suppliers. Source interviews were conducted for a previous version of this article. An organization's managers instill corporate values and _____________ in employees by the examples they set. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and . <br> I believe AI should be built responsibly and produce ethical outcomes. Multiple Choice fascism Italian Stallion stockholders got a very fair deal for the stock they owned in the company. responsible management of human resources, responsible management of human resources. Business ethics benefits the bottom line. The first area is productivity. Ch 4 Flashcards | Quizlet 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 . Explanation it reduces laws and regulations [D] requiring all bankers to sign ethical codes. (A) 3 out of 4 citizens do not give any time to the communities in which they live 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. Learn how to boost employee morale and create a better company Good leadership is central to the success of any business. allow for complete anonymity A business should be managed ethically for many. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. Both positive and negative activities are measured. 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.