Ethical standards in business are essential for a smooth functioning economy. True or Folse
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- Why is ethical behavior important to business?Firms with higher ethical standards will experience a higher level of economic performance than firms with lower or poor ethical standards. Do you agree? Why or why not?PAT assumes that managers behave in an efficient manner a. non b. False c. True d. depends on the loyalty and ethical issues
- With practical examples, provide an understanding of ethical dilemma and how to use RIMS strategy toresolve ethical dilemmas in business.Question 1: How does Ethical reasoning affect both professional judgment and individual judgment and behavior in the accounting context? Question 2: Sustainability requires a rethinking of, economic systems and business models. Discuss and provide an example for both an economic system and business model. Question 3: Discuss the concepts of accountability, legitimacy and sustainability and the links between these concepts. How do these concepts affect the way accountability relationships are formed and the concept of stakeholders? Question 4: Sustainability standards and frameworks are diverse, political and serve different purposes, Discuss. How do these standards and reports prioritize certain stakeholders and interest groups while neglecting others? Question 5: Discuss the critical role of external accounting in enhancing accountability relationships. How can these external accounts highlight the social…Business decisions rely on certain characteristics which are based on intelligent and well-informed decisions. Explain in detail these characteristics.
- Why might a moral person who is not viewed as a moral manager fail to establish an ethical culture in an organization?One way that organisations compete is through technological innovation. However, there can be downsides for both the organisation and the consumer. Explain and provide specific example.1. Give one example of an ethical standard from the conceptual framework that accountants have to follow and briefly apply it to a self-created scenario.
- WHICH OF THE FOLLOWING IS NOT A CHARACTERISTIC SHARED BY SUCCESSFUL ENTREPRENEUR? a. Passion. b. Product/customer focus. c. Tend to avoid risks as much as possible. d. Tenacity despite failureCorporate governance is the starting point to create an ethical organization. Corporate governance should provide the ethical expectations and serve as the watchdog. Discuss measures that the governance board can put into place to establish ethical expectations.1. Ethical behaviour creats the kind of goodwill and reputation that expands a company’ opportunities for profit? Explain with example.
