WGU D072 - Fundamentals for Success in Business Questions and Answers 100% Accurate!

Personal Ethics - ANSWER-refers to the ethics a person identifies with, which guides how they interact with others daily. Organizational ethics - ANSWER-focuses on rules, principles and standards in respect to the business' activities Identify how ethics impact outcomes in organizations - ANSWER-· Organizations tainted by questionable ethics suffer by a decline in their consumer base, increase employee turnover, and mistrust from their investor's. · Setting an unrealistic goal can lead to the compromise of ethics and standards. Example of personal ethics - ANSWER-Speaking the truth, respecting elders, and never purposely hurt others. Example of professional ethics. - ANSWER-Being punctual, refraining from gossip, and having good time management Provide an example of when personal and professional ethics may conflict - ANSWER-Under the 'Code of Conduct,' police officers are obligated to enforce and uphold the law even if they don't agree with it. What are the 4 main ethical issues and their roles within organizations - ANSWER-Societal, Stakeholder Issues, Internal Issues, Personal Issues Societal Issues - ANSWER-Relates to society and getting involve in societal issues out of care and concern. Stakeholder Issues - ANSWER-Anyone affected by the company's actions (consumers, employees, suppliers, and people within the community). Internal issues - ANSWER-Relates to relationship between organization and its employees (fairness in management, pay, and employee participation). Personal Issues - ANSWER-Deals with how employees treat each other (gossiping, taking credit for someone else's work). What are some benefits to an organization that practices high ethics? - ANSWER-benefit from the trust of their stakeholders and has a competitive advantage in the marketplace. Define Corporate Social Responsibility (CSR). - ANSWER-when an organization voluntarily engages in issues that are affecting the environment, community or society at large. What is the importance of CSR in the organization and in the community? - ANSWER-· It's beneficial to both the organization and its stakeholders. It creates long-term profits and shareholder's trust for the organization. · Attract consumers who share the same values. · Increases organization's brand image (awareness) /creates a better image · Creates an advantage over competitors. CSR is important in the community because - ANSWER-· Organization is gives back to the community (food bank/ school supplies giveaways, charities/donations, scholarships). · Ability to influence organization's economic practices. Company in accordance with their commitment example: - ANSWER-Company ABC, states that they are becoming more eco-friendly. They show their commitments by manufacturing in a sustainable way, using renewable products, encouraging employees to recycle,