What is the term that is used for the principles and standards that are followed when determining the acceptable conduct in business?

Business ethics is defined as?

the principles and standards that determine acceptable conduct in business organizations.

Explanation: Business ethics are the principles and standards that determine acceptable conduct in business organizations. Personal ethics, on the other hand, relates to an individual's values, principles, and standards of conduct.

What is true of organizations that exhibit a high ethical culture?

They encourage employees to adhere to business values.

Explanation: Organizations that exhibit a high ethical culture encourage employees to act with integrity and adhere to business values. Many experts agree that ethical leadership, ethical values, and compliance are important in creating good business ethics.

A difference between business ethics and social responsibility is that business ethics?

relates to an individual's or a work group's decisions that society evaluates, whereas social responsibility concerns the impact of an entire business's activities on society.

Explanation: Business ethics relates to an individual's or a work group's decisions that society evaluates as right or wrong, whereas social responsibility is a broader concept that concerns the impact of an entire business's activities on society. Although many people use the terms social responsibility and ethics interchangeably, they do not mean the same thing.

In the United States, if a salesperson brings a fancy gift to a potential client on their first meeting, it might be considered appropriate?

Bribe

Explanation : Different cultures adhere to different ethical standards. In the United States, bringing a gift to a business meeting could be viewed as a bribe, but in Japan, not bringing a gift to a business meeting would be considered impolite.

Within the concept of abusive behavior, _____ should be a consideration.

Intent

Explanation : Within the concept of abusive behavior, intent should be a consideration. If an employee was trying to convey a compliment but the comment was considered abusive, then it was probably a mistake.

Sheila, a general manager, makes a decision that leads to some personal financial gains, while the company's owners incur financial losses. What type of ethical issue is depicted in this scenario?

Conflict of interest

Explanation : The scenario depicts a conflict of interest. Sheila's decision benefits herself at the expense of the company. She does not fulfill her responsibility to ensure that the company stays profitable, which is a conflict of interest. A conflict of interest, one of the most common ethical issues identified by employees, exists when a person must choose whether to advance his or her own personal interests or those of others.

The owner of a department store offers the manager of its major supplier an expensive gift to obtain a price reduction for the next consignment. Which of the following approaches is the store owner using to influence the manager's decision making?

Bribery

Explanation : The store owner offers a bribe to influence the manager's decision making. Bribes are payments, gifts, or special favors intended to influence the outcome of a decision. A bribe benefits an individual or a company at the expense of other stakeholders.

How can ethical behavior be improved in business?

By having established ethics policies and standards

Explanation : Ethical behavior can be improved in business by establishing ethics policies and standards. It is difficult for employees to determine what conduct is acceptable within a company if the firm does not have established ethics policies and standards. Without such policies and standards, employees may base decisions on how their peers and superiors behave.

An engineer employed by a government contractor realizes that her employer is using low-quality materials in most construction projects, which goes against what was promised. She reports this to the concerned government regulatory agency. This is an example of _____?

Whistleblowing

Explanation : Whistleblowing occurs when an employee exposes an employer's wrongdoing to outsiders, such as the media or government regulatory agencies.

What forms the economic dimension of social responsibility?

Earning Profits

Explanation : Earning profits is the financial or economic foundation, and complying with the law is the next step. However, a business whose sole objective is to maximize profits is not likely to consider its social responsibility, although its activities will probably be legal.

An organization that contributes to the community in which it operates and toward the quality of life is fulfilling its ________ social responsibility?

voluntary

Explanation : Voluntary responsibilities are additional activities that may not be required but which promote human welfare or goodwill.

Orchid Health Inc. believes that its objectives should not be limited to earning profits. The company supplies drugs and vaccines to underdeveloped countries at a very low profit margin or sometimes below the cost price. What stage of social responsibility is Orchid Health Inc. fulfilling?

philanthropic

Explanation : Orchid Health is demonstrating philanthropy, or voluntary social responsibility

When CVS Pharmacies decided not to sell cigarettes in its stores, it was demonstrating?

corporate citizenship

Explanation : Legal and economic concerns have long been acknowledged in business, but voluntary and ethical issues are more recent concerns. There are four dimensions of social responsibility: economic, legal, ethical, and voluntary (including philanthropic).

Ideally, managers generally consider social responsibility?

on a daily basis

Explanation : As with ethics, managers must consider social responsibility on a daily basis. Among the many social issues that managers must consider are their firms' relations with owners and stockholders, employees, consumers, the environment, and the community.

Every PowerGrains Cereals' box has a toll-free number printed on the side. This allows buyers to contact the manufacturer and make suggestions or register complaints. This is an initiative promoting?

consumerism

Explanation : This is an initiative promoting consumerism. Consumerism
refers to the activities undertaken by independent individuals, groups, and organizations to protect their rights as consumers.

Which social responsibility issue is associated with unsatisfied product users writing emails to companies, lobbying government agencies, making public service announcements, and boycotting reckless companies?

consumer relations

Explanation : Consumer relations involve the activities that individuals and organizations take to ensure consumer rights and protection, which is a social responsibility issue. To achieve their objectives, consumers and their advocates write letters to companies, lobby government agencies, make public service announcements, and boycott companies whose activities they deem irresponsible.

Laila bought a new toy for her infant daughter, only to find out later that the product contained lead. When companies mislead consumers about their products, they infringe on the right to?

Be informed

Explanation : When companies mislead consumers about their products, they infringe on consumers' rights to be informed. The right to be informed gives consumers the freedom to review complete information about a product before they buy it. This means that detailed information about ingredients, risks, and instructions for use are to be printed on labels and packages.

A pharmacist stocks only one particular brand of acetaminophen, a popular pain-relief drug. Even if his customers prefer other popular brands selling the same drug, he insists they buy this brand. This is a violation of consumers'?

Right to choose

Explanation : This is a violation of consumers' right to choose. The right to choose ensures that consumers have access to a variety of services and products at competitive prices. The assurance of both satisfactory quality and service at a fair price is also a part of the consumer's right to choose.

In the context of consumerism, which of the following rights ensures the fair treatment of consumers who voice complaints about a purchased product?

the right to be heard

Explanation : The right to be heard assures consumers that their interests will receive full and sympathetic consideration when the government formulates policy. It also ensures the fair treatment of consumers who voice complaints about a purchased product.

Which of the following is highlighted in John F. Kennedy's 1962 consumer bill of rights?

The right to safety

Explanation : John F. Kennedy's 1962 consumer bill of rights includes the right to be heard, the right to choose, the right to safety, and the right to be informed.

What are the principles and standards that determine acceptable conduct in business?

What are the ethical standards in business?

What are ethical rules principles and standards?

What are the ethical standards?