Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. False, If the statement "ethics is caught more than it is taught" is true, then management facilitates this by: A set of formalized rules and standards that describe what a company expects of its employees is called a(n) Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. 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. ___________ _____________ ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Are Workplace Politics Destroying Your Business? opportunity influence ethical behavior Encouraged by the new Sarbanes-Oxley Act, individuals who report unethical or illegal behavior within an organization are Multiple select question. Your boss has prepared some questions for you to consider. Then, if the verb does not agree in number with its subject, write the correct form of the verb above the incorrect form. Customers Unfair competitive practices in the computer industry E. all of the answers are correct. Another reason why business ethics is important is that it can improve profitability. social media ______________- ________________ethics codes define an organization's guiding values, create an environment that supports ethically sound behavior, and stresses shared accountability. Business ethics helps to optimize company resources. (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: \text{Direct materials} & \text{\$ 3.10}\\ free from the concern of True false question. Product safety D. expanding the opportunity to behave ethically by providing punishments for following the rules. An ethical business will get your employees to respect your company . 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. D. Philanthropy E. Altruistic, Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities? Integrity-based ethics codes Which of the following is the BEST reason for a business to be managed ethically? A. Whistleblower Economist Milton Friedman believed that a business's only social responsibility was to make ________________for its owners and that anything else was socialism. D. management is insensitive to ethical issues. it prevents government audits, Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? These examples of ethical behaviors ensures maximum productivity output at work. internal search and occupy organizations. Businesses should be managed ethically because it is the right thing to do, it is legal and keeps the government from writing new laws, it is good for employee turnover, maintains a good reputation, keeps customers and attracts new ones, pleases employees and society Compliance based ethics code D. integrity. Multiple select question. B. enjoy significantly higher profits. whistleblowers [B] To maintain a good reputation 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. social media. social initiatives Other countries also follow capitalist principles. that only society's health is improved when they invest in companies whose goods and services benefit the community '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. 1. only with their responsibility to their shareholders Which of the following represent examples of how corporations set positive standards of ethical behavior? They define crimes more narrowly than do ethics protect from fraud, theft, and violence, while are used to decide how we treat others responsibly to society's views of right and wrong Ethically Behaving often requires more than obeying the law. A. guilt payments. separating themselves from suppliers who violate. B. philanthropy. \text{Insurance Expense} & \$ 2,000 & \text{Salaries Expense} & \$ 37,000 \\ Ethical problems such as influence peddling and bribery: customers The authors start from the assumption that most people wish to behave ethically. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is "right" and what is "wrong.". With respect to business ethics, it can be said that "it takes two to tango." Multiple choice question. 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. B. disgruntled workers manipulating budgets and expenses. [C] making businesspeople more accountable for their actions clarifying what green means A. building parks Global Business Ethics. CSR can lead to even more profits. Resource procurement and consumption practices B. False. penalizing wrong-doers, increasing control corporate social initiative B. (A) investors putting more money into both markets C. teamwork eliminates a need for personal ethics. internal investigation. Insider trading refers to the discussion or leak of private, proprietary information about a firm that is not yet made public. True Jake knew that several other employees followed strict company policy every day and always wore their headgear; yet, they were not being acknowledged for their compliance. increased their financial donations because they understood how badly society needed a helping hand. B. a failure of leadership to establish ethical standards. <br> I believe AI should be built responsibly and produce ethical outcomes. ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny. (B) are limited to the United States it reduces laws and regulations Startup Costs: How Much Cash Will You Need? In other situations, traditions and customs make gifts and other bribery-type activities the long-standing practice in some nations. Ethical behavior includes honesty, fairness, integrity and understanding. Packaging requirements Emphasizes strong penalties for wrongdoers Multiple choice question. Studies have found a strong correlation between academic dishonesty and dishonesty at, Studies show that companies with reputations for good corporate social responsibility Increasing public concern for the environment created by the ________________ movement has more businesses looking for environmentally friendly ways to do business. Multiple choice question. A business should be managed ethically for many. unethical 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? C. Research practices Increased control over employee actions. When implementing an ethics code, it is important to share it with all ___________________________because pressure to act unethically often comes from the outside. Multiple Choice A. the breakdown of traditional religious institutions. The _____________ _________________is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. Managers Set the Tone The effects of managerial decision making go beyond any single, isolated decision. Tejas Vemparala also contributed to this article. D. shift the production of goods to foreign facilities and layoff Canadian workers. What occurs when an employee exposes an employer's wrongdoing to outsiders? Shared accountability among employees. True (C) occur in many countries Even small companies participate in _______ through donations and volunteer support of local causes and national charities, such as the Red Cross and the United Way. $A supervisor would have to be hired to oversee production of the starters. Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is corporate raiders. Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities? Morality codes Multiple Choice 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? 8 Mini-Case Study, Intro-Into-Business: Ch. 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. Companies who are percieved as being socially responsible will ultimately earn more profits for their investors. Explanation Multiple Choice information technology additional taxes [D] businesses with good reputations attract customers. Part-time co-workers. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. Demanding Ethical and Socially Res, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Natuurwetenschappen eerste jaar examen trimes. According to recent U.S. Census Bureau research volunteerism is at an all-time high, but Article. Socially conscious investors insist that a company extend its own high standards to its ____________________. C. limiting the opportunity to behave unethically by providing rewards for violations of the rules and ___________ _____________ is a systemic evaluation of an organization's progress toward implementing socially responsible and responsive programs. D. Outsourcing practices This will ensure that you have trustworthy employees working for you. Which of the following facts best exemplifies the statement that "ethical problems are not unique to the United States"? B. opportunity. 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. reaches broad and diverse groups An appearance of conflict exists when a reasonable person looking at the situation from outside (and without personal knowledge of anyone involved) will conclude from the circumstances that the employee's ability to perform his or her duties may be compromised by personal interest. socially conscious research organizations. B. Whistleblowing C. Plagiarism A. tax officials. An important factor in enforcing ethics codes is selecting a(n) _________________ __________________. integrity-based Integrity-based ethics is informal company behavior that evolves from individuals' desire to make things better for all. Business should be managed ethically because Businesses with good reputations attract customers It reduces employee turnover It reduces the likelihood of lawsuits by employees or customers True or false: individuals have social responsibilities regarding their ethical behavior in the business world. Corporate policy refers to the position a firm takes on ______________ and __________________ issues. Explanation integrity-based ethics whistleblowers. 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. Demanding Ethical and Socially Res, Intro-Into-Business: Ch. U.S. economist Milton Friedman believed that the only social responsibility of the corporation was to its stockholders. [A] few losses to investors (A) likely to perform better financially [B] reaches broad and diverse groups True or false: Individuals have social responsibilities regarding their ethical behavior in the business world. Multiple Choice C. Operational initiatives 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. He also believed anything other than that would be considered: Recently, top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and to list negative occurrences that supervisors observed. 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} Love to build enthusiastic and energetic teams and be a step ahead the expectations of my clients inside and outside the organization. (A) are just part of doing business What Does Ethical Decision Making Mean? [D] favor management in their investigations, A communication tool many companies use to inform diverse groups of their social responsibility efforts at little cost is. This is the third year of operations for the company. C. a loss of employee commitment and trust in the company and its management. \text{Rent} & \text{0.30} & \text{\$ 12.000}\\ Both high-quality service and low unethical behaviors are important to predicting business unit performance, said Jiang. It may just be the cornerstone of your success. E. All of the answers are correct. Which step is the most critical to help improve business ethics? Multiple choice question. She was even _____ after her solo than before. stockholders 360-review. a written code of ethics D. Ethical financial reporting practices, Resource procurement and consumption practices, 39. E. A criminal lawsuit. If the verb is already correct, write C above it. Those who exemplify ethical behavior do the right thing regardless of whether they get credit for it. If youre concerned your company culture isnt rooted in ethical behavior, consider taking corrective action to reduce and prevent further unethical activities by employees. A person who demonstrates ethical behavior demonstrates a strong moral code and a consistent set of values. About one out of four adults in the U.S. chooses to take responsibility for the communities they live in through _________________work. Use the context of the sentences and what you know about the Latin root -cred- to explain your answer to each question. Source interviews were conducted for a previous version of this article. The last recession changed the way many companies offer support to people and communities in need. A. responsibility This is an example of corporate: Marketing, Finance, Sales), technical roles (e.g. Depreciation is due to obsolescence rather then wear and tear. B. personal responsibility C. compliance School McMaster University; Course Title COMMERCE 1E03; Type. B. There are a wide variety of examples of ethical behavior in the workplace. lose sales revenues
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