How do top managers best demonstrate a commitment to ethical business practices?

What is the most effective step that a company can take to set ethical standards?

The three- step model includes (1) gathering the relevant factual information; (2) determining the most appropriate moral values ; and (3) making an ethical judgment based on the rightness or wrongness of the proposed activity or policy.

What term refers to the way in which a business tries to balance its commitments to groups and individuals in its social environment?

social responsibility. refers to the overall way in which a business attempts to balance its commitments to relevant groups and individuals in its social environment .

When an activity benefits an individual but not the employer?

Explanation: E) A conflict of interest occurs when an activity may benefit the individual to the detriment of his or her employer .

When a stakeholder uses confidential information to gain from the sale or purchase of a stock What ethical violation Are they engaging in?

When a stakeholder uses confidential information to fain from the sale or purchase of a stock, what ethical violation are they engaging in ? A company that does not act responsibly toward its customers may lose their trust and ultimately their business.

What is considered ethical behavior and unethical behavior is?

Ethical behavior , simply put, is doing the right thing. Unethical behavior is the reverse. In the workplace, unethical behavior certainly includes any deeds that violate the law, such as theft or violence. Examples of unethical behavior can be found in all types of businesses and in many different areas.

Which of the following is deemed as the single most effective step an organization can take in order to encourage ethical behavior in the workplace?

Which of the following is deemed as the single MOST effective step an organization can take in order to encourage ethical behavior in the‚Äč workplace ? Demonstrate top management support of ethical standards.

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Is the way in which a business tries to balance its commitments to groups and individuals?

Corporate social responsibility (CSR) refers to the approach that an organization takes in balancing its responsibilities toward different stakeholders when making legal, economical, ethical, and social decisions.

What is a major difference in social responsibility between large and small companies?

The biggest difference between CSR for large businesses and SMBs is that reputation typically has less of an effect. A large company can lose 20% of their stock value overnight if a negativity story affects their reputation. On top of customers, CSR also applies to shareholders that an SMB wouldn’t answer to.

What is it called when two or more firms agree to collaborate on wrongful acts?

collusion. When two or more firms agree to collaborate on such wrongful acts as price fixing.

What is the term for an activity that may benefit the individual to the detriment?

Conflict of Interest. Occurs when an activity may benefit the individual to the detriment of his or her employer.

Which of the following is one of the elements required in private enterprise?

One of the four elements that are necessary for private enterprise to be carried out is reasonable prices. private enterprise are private property rights, freedom of choice, profits, and competition.

What is the term for an employee who discovers an illegal or unethical activity and tries to put an end to it by speaking up?

Answer: A. Explanation: A) A whistle-blower is an employee who discovers and tries to put an end to a company’s unethical , illegal , or socially irresponsible actions by publicizing them.

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Which of the following is considered ethical behavior?

Examples of ethical behaviors in the workplace includes; obeying the company’s rules, effective communication, taking responsibility, accountability, professionalism, trust and mutual respect for your colleagues at work. These examples of ethical behaviors ensures maximum productivity output at work.

When a manager is assessing ethical Behaviour in a certain situation which of the following should be the first step?

Which of the following should be the first step in assessing ethical behavior in a certain situation ? Seek the advice of managers . Gather a range of opinions on the effectiveness of the policy. Make a judgment based on the outcome of the activity.