REQUIRED:• please explain the photo attached (for our report) BUSINESS ETHICS is the study of business situations, activities and decisions whereissues of right and wrong are addressed. Baumhart defines "The Ethic of Business is theethics of Responsibility" meaning the businessman must promise that he will not harmknowingly. Also termed as a study of proper business policies and practices regardingpotentially controversial issues, such as corporate governance, insider trading, bribery,discrimination, corporate social responsibility, and fiduciary responsibilities. Ethical Standards and Adherence to thoseStandardsETHICAL STANDARDS - are principles established by the founders of organization thatwhen followed promote values such as trust, good behaviour, fairness, and or kindness.These standards are an important part of an organization's culture. They establish theparameters of behavior that owners and top executives expect from employees and also fromsuppliers, at least to the extent of their relationship with the organization.A corporate governance system will put a lot of effort into communicating and enforcingthe principles done usually through behaviour modelling which means that top executivesshould set the example of how lower-level employees should act.Few examples of these standards would be responsibility, honesty, transparency orfairness and even though they might be interpreted differently by each person, companiesusually describe the founder's perspective of each value to avoid confusions.These principles should serve also as guidelines for decision-making process to helpemployees align their personal criteria with company's perspective as different ethical issuesarise within normal business activities.

Though many books have been written on ethics by philosophers, doing the right thing is at the heart…

Answered: BUSINESS ETHICS - is the study of…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Similar questions

As a business leader over the course of your career you will establish patterns of behavior that determine what's capable and what's not within your organization. Create a Code of Ethics for your organization that explains acceptable behavior towards employees, customers, and suppliers. Your Code of Ethics could be a list of guidelines that explains everyone's responsibilities within the organization, or statements of goals for everyone in the organization to meet or exceed, or policies that must be followed to promote ethical behavior from everyone in the organization.
Which critical areas of your organization have policies on ethics and codes of conduct? a) What challenges have been associated with the implementation of these policies? b)Give examples of how some of these challenges have been handled? What conflict of interest situations commonly arise in your work environment as an administrator? How have these been handled and with what success/consequences
GIVE THE MEANING AND INSIGHTS ABOUT THE FOLLOWING - Origins and Roles of Business Organizations - Core Principles of Good Corporate Governance - Ethical Challenges in Doing Business - Code of Ethics for BusinessPage
While corporate culture influences employees' ethical decisions, managers have little impact on those decisions. A) True B) False
Managers and first-line supervisors are important role models for ethical behavior. Describe how the manager helps to create ethical organizations. Additionally, put yourself in the manager's shoes and compose a company credo that reflects your values.
you would like to evaluate the organization’s ethical standards to see if they are compatible with yours. In your opinion, the ethical standards of an organization are related to the following five areas: •Employee Care •Management's Behavior •Core Values •Customer Care •Corporate Social Responsibility Describe your own criteria and standards for each of the above five areas. How will you measure these and determine if the organization is meeting your ethical standards?
What can strategic leaders do to create and maintain a strong organizational culture? What steps can a strategic leader take to establish and maintain ethical practices within his or her organization?
1. why ethical decision-making is essential in an organization, 2. what are the possible effects that ethical violations/unethical behaviors can have on the organization and its stakeholders.
What can strategic leaders do to develop and sustain an effective organizational culture? What actions can a strategic leader take to establish and maintain ethical practices within a firm?
Discuss briefly why ethical decision- making is essential in an organization, and the possible effects that ethical violations/unethical behaviours can have on the organization and its stakeholders.
What are some of the most important ethical considerations that managers need to be aware of, and how can they ensure that their actions are consistent with these ethical principles?
Ethical leadership is crucial for establishing trust, integrity, and accountability within organizations. Managers are responsible for setting the tone for ethical behavior by modeling ethical conduct, upholding organizational values, and making decisions that consider the well-being of all stakeholders. Ethical leaders prioritize fairness, honesty, and transparency in their interactions with employees, customers, and the wider community. They also establish ethical guidelines and policies, provide guidance on ethical dilemmas, and create a culture where ethical considerations are embedded into decision-making processes. Question: How can managers cultivate a culture of ethical leadership within their organizations, and what are some potential challenges they may face in maintaining ethical standards in today's complex business landscape?

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