Ethics are the standards of right and wrong set for us by society, whereas legality refers to. Which of the following is the BEST reason for a business to be managed ethically? Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. 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. B. The side effects are so great that the society urges that the business should always be ethically and socially responsible. Top leaders from other countries have been charged with bribery. C. commitment to a management training program. Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. Ethical Dilemmas: How Scandals Damage Companies It seeks to promote honesty, fairness, and responsibility in all advertising. D. Outsourcing practices Ethical behavior positively impacts a businesss financial performance. Full-time co-workers 3. ___________ __________ ______________is a business's concern for the welfare of society. Write dialogue for an imaginary conversation between the speaker of When We Two Parted" and the person he addresses. 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. Prepare computations showing how much profits will increase or decrease as a result of making the starters. Performance-Based Pay Wont Motivate Employees as 10 Development Goals for Better Leadership. Ethical behavior can have negative consequences to the bottom line in the long run. B. focus on cost and quality control systems within your organization. Strict global regulations require it. Chapter 4. [A] relate well to employees at all levels In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. It emphasizes sustainability, customer loyalty, brand image, and employee retention. A. It is the right thing to do. (B) lack of trust in the free market system Therefore, it is the most significant resource to run or upgrade any business. Displaying good ethical behavior can boost company morale and client relations. The You Design, We Build Company makes custom furniture of all kinds. Reevaluating its ethics codes based on the input of its customers. (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: D. Improved awareness of the relevant laws. HR professionals sometimes face ethical or moral dilemmas. B. reducing most costs Why Business Should Be Managed Ethically - Liveboardroom.info formal and informal. \text{Variable manufacturing overhead} & \text{0.60}\\ (D) 3 out of 4 citizens volunteer, but cheat on their taxes, Using information from the internet or other sources without giving credit to the author is, The strong relationship between academic dishonesty and dishonesty at work is likely to allow for complete anonymity, When implementing a new ethics program, businesses must also communicate the changes to outside parties such as: Noone\underline{\text{No one}}Noone attitude has improved as much as his\underline{\text{his}}his has. C. Education and training A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. A business should be managed ethically because, businesses with good reputations attract customers. 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. Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. Everyone with whom the business has dealings. If an ethical tone is set at the top and followed by management, everyone who works there will hold themselves and each other to those standards. Multiple choice question. It does not subtract from the bottom line; it adds to it. Maria Juarez is a professional tennis player, and your firm manages her money. True false question. She was even _____ after her solo than before. Which of the following is a reason why a business should be managed ethically? B. opportunity. Research into ethics and business performance has shown the two are linked in some important ways. Multiple Choice Which set of ethics codes defines an organization's guiding values, creates an environment that supports ethically sound behavior, and stresses shared accountability? Reevaluating its ethics codes based on the input of its customers. If an underlined word is already in the correct possessive form, write a C on the line. Economic conditions in some developing countries make child labor a necessity for the survival of families. Research has shown that companies engaged in corporate social responsibility (CSR): integrity-based ethics Is it acceptable if everyone else is doing it? E. help restore confidence in Corporate America and Canada. penalizing wrong-doers. C. teamwork eliminates a need for personal ethics. How Does 401(k) Matching Work for Employers? These principles govern every aspect of the company's operations, including its interaction with the government and other businesses, its treatment of its employees and its relationship with its customers. D. to please customers, employees, and society. Team and business confidence. Bake ethics into your company by establishing a code of ethics and reinforcing its principles with your team regularly. Businesses must abide by some basic principles. acquisition stalking. (C) make students who know how to plagiarize well acceptable to employers Codes of ethics foster ethical behavior by Other countries also follow capitalist principles. information technology The ethical lapses of global companies, such as Enron, Arthur Andersen, and WorldCom, over the span of a few years caused much devastation. Which of the following is not one of the approaches associated with corporate social responsibility? ______________ ____________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues. 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. C. often experience customer loyalty problems. whistleblowers. Which of these actions is LEAST likely to restore the trust of the American public in the free-market system? On the flip side, a leader who personifies ethical behavior will be fair in all situations. Multiple select question. As a philosophy, ethics are the principles that guide a person's behaviour. Business Ethics - Quick Guide - tutorialspoint.com The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. 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. B. because strict global regulations require it. global policy Corporate philanthropy Need help writing your own self-assessment for a performance 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. C. Watch tower sentinel This is somebodyelse\underline{\text{somebody else}}somebodyelse notebook. A. Corporate social responsibility is a business's concern for: Those who oppose corporate social responsibility believe that Multiple choice question. Multiple choice question. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". The owners of Good Eats Restaurant in St. Louis drove several hours with a van of employees, equipment, and food to donate what they could to help the storm victims. School McMaster University; Course Title COMMERCE 1E03; Type. This is an example of corporate: 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 Defines an organization's guiding principles. (D) going to lose money by providing pay raises, A business should be managed ethically because True Marilena Crsteanu - International Customer Experience Advisor of or relating to ethics; involving or expressing moral approval or disapproval; conforming to accepted standards of conduct See the full definition 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. Consumers vote against firms they view as socially irresponsible by not A. boycotting the company's products. In "Two Kinds," how does the narrator feel after the talent show? American businesses are demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues. Its premise is based on integrity, fairness, and respect for others. providing safety equipment and training for their workers, increasing the diversity of their workforce Ethical standards are different from country to country. Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. responsible management of human resources, responsible management of human resources. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: This will ensure the stability of all structural parts, help to form a sense of belonging to one community with the same goals and aspirations. Top management must adopt and support a corporate code of conduct. Vanessa recognizes this as a(n) ________-based code of ethics. The deliberative system leads to more-ethical behaviors. (D) affect hiring practices very little. allow for complete anonymity only to compete and make a profit \text{ } & \text{Per Unit} & \text{Total}\\ How are these two rates measured? A. 8 Current Ethical Issues in Business (and How to Manage Them) [B] passing laws to make accounting records more transparent It may just be the cornerstone of your success. $A supervisor would have to be hired to oversee production of the starters. Notes. Business principle (3) Flashcards | Quizlet Multiple Choice Ignoring hazardous job conditions that exist in the company's facilities the collection of laws to protect society from fraud, theft, and violence. increased financial donations to local areas but pulled away from national and global contributions.
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