D. Mayhem \text{Retained Earnings, Jan. 1, 2016} & 4,800 & & \\ analysts. Business Ethics refers to carrying business as per self-acknowledged moral standards. only with their responsibility to their shareholders Multiple choice question. In a business setting, ethical behavior applies to any employee, team lead or supervisor. School McMaster University; Course Title COMMERCE 1E03; Type. capitalism According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision? 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. 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. A. In "Two Kinds," how does the narrator feel after the talent show? Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. plan to maximize profits for shareholders to spend in communities Startup Costs: How Much Cash Will You Need? B. maintaining proper accounting procedures. The mortgage bankers and real estate companies who helped create the financial crisis of 2008 were driven by, Financial and political leaders can restore trust in the free market system by: A. 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. Business ethics benefits the bottom line. D. fail to earn sufficient profits for their owners. Italian Stallion stockholders got a very fair deal for the stock they owned in the company. draw more customers, retain better employees Other countries also follow capitalist principles. Ethical management generates trust, and trust increases productivity. The Dodd-Frank Wall Street Reform and Consumer Protection Act provides whistleblowers an award if their actions lead to an enforceable action or conviction. 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. lose sales revenues C. Accounting fraud Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. C. Operational initiatives <br> I believe AI should be built responsibly and produce ethical outcomes. [B] Bribery A. True false question. Multiple select question. Corporate social responsibility (CSR) is based on the belief that businesses should be concerned with the welfare of _______________ and not only of their owners. Steven Barber, RBLP-T, SPHR, SHRM-SCP, GCDF, CCSP - Business Management The amount of pollutants a firm unleashes into the environment would serve as an example of a negative activity that would be included in the social audit measurements. general guiding values B. because strict global regulations require it. $A supervisor would have to be hired to oversee production of the starters. [A] for the welfare of society as a whole Some common workplace ethics include trustworthiness, accountability, respect, transparency, and integrity. A process-oriented approach toward data ethics is well suited for data enthusiasts with limited resources in the fast-changing world of new technologies. Multiple select question. profitable charities [D] allows them to connect directly with customers. Which of the following statements is false? Ethics may seem like an intangible, but there is a clear connection to overall performance. A. When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. Compliance-based ethics codes focus on: Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. First and foremost, father of 5 and grandfather to 3.<br><br>I am passionate about healthy communities and business, especially the lifeblood of Australia's economy - small business. She was even _____ after her solo than before. 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. Should an instance occur, the result could be devastating to your company's finances and reputation. benevolence can lead to a vote of no confidence by company stakeholders. The ethics code must be enforced. Business principle (3) Flashcards | Quizlet A New Model for Ethical Leadership - Harvard Business Review Business Ethics: Definition, Principles, Why They're Important Multiple Choice B actual ethics. whistleblowers. True false question. additional taxes social media (A) have fewer loyal customers but attract more of them Here are five reasons why you should keep things legal and follow business ethics in accounting. An ethically managed business helps to reduce employee turnover. that they can improve their own financial health by investing in companies whose goods and services benefit the community In the long run, CSR enhances profits. Having constant conversations and reminders makes it less likely an employee will break a rule or have a low-quality output. it makes financial as well as moral sense to invest in companies that plan to create a better environment, that they can improve their own financial health by investing in companies whose goods and services benefit the community An organization's managers instill corporate values and _____________________ in employees by the examples they set. A(n) _________________ ___________________ethics code creates an environment which supports ethically sound behavior by stating an organization's guiding values, shared responsibilities, and accountability. corporate raiders. Chapter 4 - Homework ( Introduction To Business) - Quizlet Eric Allgood - Managing Director - Small Business Assistance and A failure of leadership to establish ethical standards, Which of the following terms describes someone who reports illegal or unethical behaviour? When the lines of communication are open and employees are willing to have conversations with one another, misunderstandings can be avoided. How to Design an Ethical Organization - Harvard Business Review Demanding developing countries to adhere to U.S. law on human rights and the environment is not clear-cut. Which of the following were not identified as being fundamental to the CSR definition? A. Top management at Lancer Distributing is convinced that they have a social responsibility to their community. SE Oklahoma's MBA Programs Teaches Ethics B. 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. Assessment-driven ethics codes, Who sets the standards of right and wrong as defined by ethics? [C] only to compete and make a profit Ethics in the workplace: the ethical manager | HRZone When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is 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.. However, it was disclosed that somehow a member of Paulie's management team mentioned the deal to a person he sat next to on a flight from LA to Seattle. C. An ethics office must be set up. corporate policy A. Diversity and discrimination B. In the study, researchers determined that a higher quality of service positively impacted business operations when ethical adherence was also high. reaches broad and diverse groups D. structure and strategy. allow for complete anonymity 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. social media. acquisition stalking. Noones;C\underline{\text{\color{#c34632}No ones; C}}Noones;C. A. Whistleblower I'm a Product Manager with experience working cross-functionally with business roles (e.g. Explanation based on a commitment to integrity and respect D. varies from industry to industry. Which of the following is NOT included as one of the questions we must ask when faced with an ethical dilemma? Multiple Choice A. protecting the owners' rights and investments. G. R. Laczniak, M. W. Berkowitz, R. G. Brooker, and J. P. Hale (1995) provided evidence that business leaders feel unfairly . How Managers Can Encourage Ethical Behavior | Principles of Management C. moral philosophy. With regard to socially responsible behavior, American businesses are Corporate policy refers to the position a firm takes on ______________ and __________________ issues. Managing Business Ethics - Ethical Systems Employees want to work for companies that treat everyone and their clients fairly and have good and ethical business practices. Business Ethics - A Successful way of conducting business A social audit is a systematic evaluation of a company's progress toward becoming a socially responsive organization. [D] They may choose to cancel orders when there are environmental abuses. Socially conscious investors insist that a company extend its own high standards to its ____________________. If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: What motivated the unethical behavior of real estate agents, lenders, and borrowers that led to the financial crisis of 2008? ______________________behavior can add to the bottom line while _______________________behavior can ruin companies financially.