WGU D072 Fundamental for Success in Business Study Guide/ (Top 2024/2025 EXAM REVIEW PAPERS / GRADED A+/ 100% Accurate)

WGU D072 Fundamental for Success in Business Study Guide Distinguish between personal and organizational ethics. -Personal Ethics refers to the ethics a person identifies with, which guides how they interact with others daily. Organization Ethics focuses on rules, principles and standards in respect to the business' activities. Identify how ethics impacts outcomes in organizations. -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. Speaking the truth, respecting my elders, and never purposely hurting someone are examples of _________ (personal or professional) ethics. -Personal Being punctual, refraining from gossip, and having good time management are examples of _________ (personal or professional) ethics. -Professional Provide an example of when personal and professional ethics may conflict? - Where do an organization's ethics tend to start? A) They develop over time; B) They start at the bottom and bubble up; C) They start at the top and trickle down -C) They start at the top and trickle down Sharing credit with co-workers and treating subordinates with respect demonstrates what level of organizational ethics? (high or low) -high What are some benefits to an organization that has high organizational ethics? -1- the trust of their stakeholders 2- competitive advantage in the marketplace. Define Corporate Social Responsibility (CSR) and its importance in the organization and in the community. -when an organization voluntarily engages in issues that are affecting the environment, community or society at large. Compare corporate ethical commitments with the reality of how the commitments are acted out in accordance with commitments, or in discord to the commitments. -Company in Accordance: Company ABC, states that they are becoming more eco-friendly. They show their commitments by manufacturing in a sustainable way, using renewable products, AND encouraging employees to recycle. Company in Discord: Company DEF, states that they are becoming more eco-friendly, but their actions are contrary. Which of the following is true about Corporate Social Responsibility? A) It can be framed as a response to public backlash for a long track record of harming environments; B) It guarantees the company is acting ethically; C) It encourages promotion from within the organzation; D) It comes at little additional cost to the organization. - Why is Corporate Social Responsibility important to an organization and its local community? - For the organization: 1- It's beneficial to both the organization and its stakeholders. 2- It creates long-term profits and shareholder's trust for the organization. 3- Attract consumers who share the same values. 4- Increases organization's brand image For the community: 1- It gives back to the community (food bank/ school supplies giveaways, charities/donations, scholarships). XYZ Inc. uses images of a leafy forest to promote their Green-Clean Cleaning Wipes. They advertise the wipes as being biodegradable, but the chemicals in the wipes do not break down well in the environment and the plastic container is definitely not biodegradable. This is an example of _______ (code of ethics, greenwashing, or whistleblowing) -greenwashing Cheyenne Jenkins, VP for a large gas compay, wrote a letter to her boss regarding the extremely fraudulent accounting practices in their publicly traded company. She demanded that the company take action. Her letter became public five months after she wrote it and was fodder for national outrage. This is an example of ______________. Cheyenne continues to work while the matter is investigated. She is likely protected under ________ (whistleblowing, Sarbanes-Oxley Act; internal transparency, Sally Mae Act; or code of ethics, Securites and Exchange Commision) -Sarbanes-Oxley Act Describe the functions within different departments of an organization. -1. Marketing- 'Face' of the company.2. Human Resource (HR)- Deals with all employee-related issues3. Accounting and FinanceDeals with all financials related to the business.4. Research and Development (R&D)- Deals with innovations, developing and launching new products.5. Information Technology (IT)- Deals with all related technology in an organization. Differentiate between leadership and management -Leadership: is being able to INFLUENCE a team of employees to work toward achieving a goal. Management: involves DIRECTING a team of employees to work toward achieving a goal. The _________ department oversees the installation and maintenance of computer network systems within a company. Its primary function is to ensure that the network runs smoothly. (marketing, human resources, accounting and finance, research and development, in