Complete each sentence with the comparative or superlative form of the modifier in parentheses. A well-implemented ethics program can also reduce losses. 1. Employees and management alike can work together to create businesses that have high standards. Then, of course, there are the more serious consequences of highly unethical behavior. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ Although definitions and means of measuring a carbon footprint aren't yet clear, many companies try to become more __________________by claiming to reduce it. [B] share all information with managers when requested Due to a reduction in output, the company has idle capacity that could be used to produce the starters. Practice deception regarding product safety issues. C. providing all relevant information about current and projected performance of the firm. B. businesses with good reputations attract customers it reduces the likelihood of lawsuits by employees or customers it reduces employee turnover it increases the likelihood of government intervention businesses with good reputations attract customers Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. ___________ __________ ______________is a business's concern for the welfare of society. The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: A systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs is called: How are U.S. companies likely to pressure foreign companies to change their standards of ethics and social responsibility? The monetary award may total as high as 30% of the amount collected for violations that exceed $1 million. Certain studies have revealed some of the reasons why the companies on Ethispheres ethics index may have outperformed other less-ethically-focused businesses. (C) occur in many countries Multiple Choice Another reason why business ethics is important is that it can improve profitability. Which of the following describes charitable donations by corporations to nonprofit organizations? Studies have found a _____ correlation between academic dishonesty and dishonesty at work. (A) businesses who are socially responsible will earn more shareholders profitable charities There are a wide variety of examples of ethical behavior in the workplace. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. A number of ethical scandals in the past decade have raised awareness of ethical issues in business. 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. D. Integrity watchdog. This sort of behavior is not limited to the workplace; it can be present in every facet of life. E. help restore confidence in Corporate America and Canada. social media According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? This will ensure that you have trustworthy employees working for you. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is An organization's managers instill corporate values and _____________ in employees by the examples they set. firms should take added caution not to support government programs that protect the environment. stockholders It does not subtract from the bottom line; it adds to it. Which of the following are examples of outside stakeholders that must be told about a company's ethics program? D. structure and strategy. An important reason for a company to maintain its ethical reputation is True or false: Social responsibility and ethical problems exist primarily in the U.S. because we have more laws about those problems. Giving back to society In the long run, they believe 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. 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. Emphasizes strong penalties for wrongdoers There are several ways to encourage an ethical workplace culture, including establishing a companywide code of ethics. A. E. law. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. Top officials in countries like Japan, South Korea, and China have faced legal charges of influence peddling and __________ charges, which serve as examples of the unethical behavior that U.S. companies face in overseas markets. [C] it reduces the likelihood of lawsuits by employees or customers Increased control over employee actions. allows them to connect directly with customers Multiple select question. Its easier for a business to retain employees when they work for a company that they believe in. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. (A) have fewer loyal customers but attract more of them school districts Multiple choice question. [B] about being fair and honest with their stakeholders The researchers also determined that businesses could take certain steps to rectify ethical lapses that impacted performance. Multiple choice question. \text{Common Stock} & 8,500 & \text{Accounts Receivable} & 7,500 \\ going to save money by not hiring those who are disabled The second major meaning behind the term is . I'm a Product Manager with experience working cross-functionally with business roles (e.g. A. reduced employee turnover. 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: D. to please customers, employees, and society. 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. ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. D. help investors recoup their losses. allows them to reach specific groups more directly, allows them to connect directly with customers 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. insider trading. whistleblowers 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. social initiatives A business's responsibilities to its owners and investors include From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. Ethical behavior can have negative consequences to the bottom line in the long run. Synonym Discussion of Ethical. B. True false question. Though there are many ethical opinions that most people share, ethics will differ from person to person. acquisition stalking. Top management 1. By being ethical, leaders can foster an environment that rewards and encourages good attitudes. Multiple choice question. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. Multiple choice question. The following data have been assembled for the business: InsuranceExpense$2,000SalariesExpense$37,000ServiceRevenue80,000AccountsPayable4,300UtilitiesExpense500OfficeSupplies1,500RentExpense11,000Dividends4,500CommonStock8,500AccountsReceivable7,500Cash7,000Equipment26,600RetainedEarnings,Jan.1,20164,800\begin{array}{lrlr} Dodd-Frank Wall Street Reform and Consumer Protection Act. Organizational ethics begins Multiple Choice at the top levels of management. whistleblowers. D. Outsourcing practices D. guideline. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? 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.. True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. With respect to business ethics, it can be said that "it takes two to tango." Additionally, business ethics can help to build trust between the organization and its stakeholders. 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. A business starts with the correct usage and allocation of finances and cost management. Financial transparency If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by 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. (B) have higher turnover Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. (B) lack of trust in the free market system ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. To allow whistleblowers to come forward with information organizations should Deceptive advertising of medicines and toys help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? Community members are bound by the pursuit of common values and goals. socially conscious research organizations. it makes financial as well as moral sense to invest in companies that plan to create a better environment, Companies that try to act in a socially responsible way are likely to focus on such activities as If the verb is already correct, write C above it. This is called a bounty provision because as stated, they may receive a monetary award for their actions. Economic conditions in some developing countries make child labor a necessity for the survival of families. D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. Hence, a business should have a trustworthy source of finance and maintain healthy relations with financial sources like Banks, Financial Institutions, Stakeholders, etc. \text{Direct labor} & \text{2.70}\\ C. often experience customer loyalty problems. B. C. all levels of management. The last recession changed the way many companies offer support to people and communities in need. A. delight them with a quality product at a fair price. Multiple select question. (D) long jail terms for those who acted unethically. To understand why ethical behavior is important, it might be helpful to know how unethical behavior affects a company. asking suppliers to lower their standards to be in compliance with What does the research into business ethics say? D. Improved awareness of the relevant laws. Those who have others interests in mind when they make decisions are displaying ethical behavior. Corporate philanthropy ethical standards that are often unreasonable and cannot be met by most leaders. 360 degrees marketeer, business strategy addict, passionate about creative projects and most importantly project teams. Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. reducing regulations about labeling Multinational corporations are committed to operating within the legal limits of U.S. law. Ethical behavior includes honesty, fairness, integrity and understanding. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. [A] Influence peddling (D) affect hiring practices very little. ignoring both ethical and unethical behavior Resource procurement and consumption practices TRUE There are many reasons why a business should be managed ethically : ( 1 ) to maintain a good reputation , ( 2 ) to keep existing customers , ( 3 ) to attract new customers , ( 4 ) to avoid lawsuits , ( 5 ) to reduce turnover , ( 6 ) to avoid government intervention , ( 7 ) to please customers , employees , and society , and ( 8 ) because it is the right thing to do . C. Accounting fraud Nike suffered criticism due to its __________ _____________ violations in their overseas manufacturing facilities. B. because strict global regulations require it. American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Its premise is based on integrity, fairness, and respect for others. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. It is an act that is against the law and against Securities and Exchange Commission policy. Other countries also follow capitalist principles. With regard to socially responsible behavior, American businesses are providing safety equipment and training for their workers, 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: information technology demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Laws, Ethics Laws - are passed by legislators to protect us from fraud, theft, and violence. Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. Chenda Bunkasem is head of machine learning at Undock, where she is focusing on using quantitative methods to influence ethical design. Top management 4. If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except: Explanation \text{Variable manufacturing overhead} & \text{0.60}\\ Multiple Choice 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. False. A. Paying employees on specified pay dates most of the time. DirectmaterialsDirectlaborSupervisionDepreciationVariablemanufacturingoverheadRentTotalproductioncostPerUnit$3.102.701.501.000.600.30$9.20Total$60.000$40.000$12.000. A. the breakdown of traditional religious institutions. [A] for the welfare of society as a whole This guide breaks down the importance of business ethics and how to establish an ethical culture in your company. 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. only with their responsibility to their shareholders Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. (D) going to lose money by providing pay raises, A business should be managed ethically because '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. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". Strict global regulations require it. 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. Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by that only society's health is improved when they invest in companies whose goods and services benefit the community going to lose money by providing pay raises ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. commitment to maximizing shareholder profits in all decisions, Insiders, such as employees, who report concerns about a company's accounting or auditing practices are called: 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. Ethics can be rooted in belief or the pursuit of making the world better. D. varies from industry to industry. How Does 401(k) Matching Work for Employers? [A] few losses to investors Resource procurement and consumption practices B. Business Ethics refers to carrying business as per self-acknowledged moral standards. (A) investors putting more money into both markets [A] relate well to employees at all levels D. maximizing their investment in the firm. customers Multiple choice question. Determine Author's Purpose Why do you think Las Cases wrote this detailed account about the treatment of Native Americans by the Spanish? (B) it attracts and retains customers During the last recession monetary contributions decreased and companies found ways to continue their philanthropic participation by asking employees to donate time to corporate social initiatives and other projects. Decorating Arrangements has just completed operations for the year ended December 31, 2016. technical policy Compliance-driven ethics standards [D] severe financial crises. Establishing an ethical culture starts with company leadership and involves ongoing emphasis that ethical standards are respected. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? Should an instance occur, the result could be devastating to your company's finances and reputation. 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 chief engineer has recommended against this move, however, pointing out that the cost to produce the starters would be greater than the current 8.40perunitpurchaseprice:8.40 per unit purchase price:8.40perunitpurchaseprice: PerUnitTotalDirectmaterials$3.10Directlabor2.70Supervision1.50$60.000Depreciation1.00$40.000Variablemanufacturingoverhead0.60Rent0.30$12.000Totalproductioncost$9.20\begin{matrix} Multiple select question. Socially conscious investors insist that a company extend its own high standards to its ____________________. On the line provided after the sentence, write the possessive form of the underlined words. Typically, it is the kind of information where parties in the know can benefit. Multiple Choice Which of the following are true regarding ethical behavior? Top leaders from other countries have been charged with bribery. Integrity-based ethics codes lose sales revenues True C. a loss of employee commitment and trust in the company and its management. draw more customers, retain better employees C. Research practices Explanation Multiple choice question. aggregate independent appraisal. A. An organization's managers instill corporate values and _____________________ in employees by the examples they set. Ethical issues are limited to for-profit organizations. Often, business ethics involve a system of practices and procedures that help build trust with the. The ethics code must be enforced. Safe working conditions varies among those who are interested in corporate responsibility. The Sarbanes-Oxley Act and Ontario's Bill C-198 were both passed to A. punish those who committed accounting fraud in the late 1990s. because strict global regulations require it Corporate values are: tax officials. Your boss has prepared some questions for you to consider. C. diversity C. structure and strategy.