This includes managers and subordinates, peers and clients. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? Other times, they may feel as though they are caught between what their higher-ups want them to do and what the law requires. Marilena Crsteanu - International Customer Experience Advisor 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. Who sets the standards of right and wrong as defined by ethics? [D] businesses with good reputations attract customers. Multiple Choice Target is a business. Research into ethics and business performance has shown the two are linked in some important ways. demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Multiple choice question. 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. What Are Business Ethics and Why Are They Important? Study 19 Terms | Philosophy Flashcards | Quizlet According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility It does not subtract from the bottom line; it adds to it. What kind of person do you think Paulsen is? It emphasizes sustainability, customer loyalty, brand image, and employee retention. 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.. [B] it increases the likelihood of government intervention 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? 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. aggregate independent appraisal. Which of the following should help reduce the incidence of unethical behavior in an organization? Ethical behavior does not matter to investors. about being fair and honest with their stakeholders True false question. Which of the following would least likely involve ethical concerns? help store confidence in corporate america and canada, Which of the following have been cited as incidents of unethical business activity recently? C. all levels of management. Are Workplace Politics Destroying Your Business? [A] relate well to employees at all levels '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. the collection of laws to protect society from fraud, theft, and violence. ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Ethical Marketing - Marketing Schools 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. The most basic question in an ethics-based management system is. Chapter 4. This is an example of corporate: Think about a business that hires only family or one that gives inappropriate incentives, for example. Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. Many organizations create a code of ethics, which might include generic guidelines for ethical behavior about doing the right thing or remaining fair. promotions, The dimension of social responsibility, which includes certain aspects such as producing low-emission vehicles, is called: Positive Effects of . 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. reaches broad and diverse groups integrity-based Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. This, then, creates greater stability within the company.. Trust and cooperation between workers and managers must be based on which of the following? On the flip side, a leader who personifies ethical behavior will be fair in all situations. (C) make students who know how to plagiarize well acceptable to employers The last recession changed the way many companies offer support to people and communities in need. D. buying the company's products. How to Fix a Toxic Workplace, The Best Employee Monitoring Software for 2023. 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. Multiple Choice Part-time co-workers. A. 051-Methods for Designing Ethical, Human-Centered AI with Undock Head lose sales revenues 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. A. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and plan to maximize profits for shareholders to spend in communities From retaining employees to ensuring brand loyalty to avoiding lawsuits and fines, a strong code of ethics is key to continued success. Corporate social responsibility is based on a \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ Top leaders from other countries have been charged with bribery, The emergence of the green movement has affected businesses by Multiple choice question. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. Eric Allgood - Managing Director - Small Business Assistance and B. personal responsibility C. compliance the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community efforts. B Integrity-driven ethics codes benevolence can lead to a vote of no confidence by company stakeholders. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. C. moral philosophy. Multiple select questions. All of the following are reasons why a business should be managed ethically except: A. because it is the right thing to do. Employees and management alike can work together to create businesses that have high standards. opportunity influence ethical behavior Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. An organization's managers instill corporate values and _____________________ in employees by the examples they set. employees and internal public relations D. Mayhem Though discrimination and harassment laws have been put in place and continue to be updated . You're dealing with sensitive information As a business owner, you deal with sensitive information on the daily. acquisition stalking. A systematic evaluation of a company's progress toward implementing socially responsible programs is known as a(n)___________________ __________________ . SE Oklahoma's MBA Programs Teaches Ethics Ethical managers encourage autonomy, involvement, opportunity and responsibility - and these factors contribute to: Creativity. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? Business Should Always Be Ethically and Socially Responsible Businesses should create and display their code of ethics publicly. E. A criminal lawsuit. B. social order ethics [C] making businesspeople more accountable for their actions In fact they contribute to it: 1. for the welfare of society as a whole, True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand. decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projects. An important reason for a company to maintain its ethical reputation is demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. retaliation 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. Why Are Business Ethics Important? A Guide - Investopedia B. Whistleblowing C. Plagiarism Those who argue in favour of corporate social responsibility suggest that: Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that compliance police. China is a communist country. B. draw more customers, retain better employees (D) going to lose money by providing pay raises, A business should be managed ethically because 3 Reasons Why Business Ethics Is Important - Redlands moral impropriety. As a philosophy, ethics are the principles that guide a person's behaviour. An ethical business will get your employees to respect your company . What Does Ethical Decision Making Mean? 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. . (C) 4 out 5 citizens volunteer an hour each week It seeks to promote honesty, fairness, and responsibility in all advertising. Answer (1 of 4): When you manage a business ethically it attracts the right people that can suit your company culture and proficiently fit with your business. enjoy greater employee loyalty D. management is insensitive to ethical issues. C. diversity Multiple Choice B. expressing dissatisfaction by protesting. This approach to ethics assumes a society comprising individuals whose own good is inextricably linked to the good of the community. Demanding Ethical and Socially Res, Intro-Into-Business: Ch. Multiple choice question. standards. Motivation. firms should take added caution not to support government programs that protect the environment. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. Another reason why business ethics is important is that it can improve profitability. Displaying good ethical behavior can boost company morale and client relations. 1. The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. Chapter 4 - Business Flashcards | Quizlet Intro-Into-Business: Ch. 4 Learn Smart Flashcards | Quizlet Vanessa recognizes this as a(n) ________-based code of ethics. Becoming an environmentally friendly business | Business Queensland Multiple select question. 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. U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. How Does 401(k) Matching Work for Employers? Distributors. B. maintaining proper accounting procedures. 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. \text{Cash} & 7,000 & \text{Equipment} & 26,600 \\ 'Business' can mean an activity of exchange. _____________________ _____________________ _____________________is a business's concern for the welfare of society. D. Deceptive advertising of food products E. All of the answers are correct, As a new employee, Vanessa has heard her boss say, "Do whatever it takes to meet your sales quota.