WHAT IS THE IMPORTANCE OF THIS Throughout all business dealings, uphold high ethical standards. Create a welcoming work environment for your staff. Goods and services of high quality should be offered to customers. Continuously innovate and improve the operations of the organization. Communicate honestly and openly with all stakeholders. EXPLAIN EACH BULLET

WHAT IS THE IMPORTANCE OF THIS Throughout all business dealings, uphold high ethical standards. Create a welcoming work environment for your staff. Goods and services of high quality should be offered to customers. Continuously innovate and improve the operations of the organization. Communicate honestly and openly with all stakeholders. EXPLAIN EACH BULLET

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 24MC: A companys attempts to utilize sustainable business practices with regard to its employees, the...

See similar textbooks

Similar questions

Cecelia, a human resources manager, is working on an ethics policy for the company she works for. You advise her that ________ is the best support for ethical behaviour in an organization. Question 4 options: A) codes of conduct B) senior management support C) social audits D) senior management directives E) front-line support
In the world of professional industries, when conducting operational activities, top management have to be careful and well-conceived consideration is required so that it can be delivered in accordance with applicable rules and codes of ethics, as well as the manner in which the activities carried out are in line with the vision and goals of the company. To achieve the company's objectives faster and continually improve company performance, top management must be able to develop a routcome-based management strategy by obtaining detailed information and insights to support the decision-making process. For the purpose of drafting a conceptual framework in the form of organizational strategy, the leader hopes to help minimize risks that are detrimental to the company's activities, which in this case certainly requires the assistance of various parties, especially internal auditors that will help stakeholders by ensuring how the internal monitoring and control processes have been working…
How is the management of a company accountable to its employees? The management must provide products that are safe and free of defects. B The management must ensure that the business is environmentally responsible to its community. C The management must ensure that it earns a net positive return on its investments. D The management must provide a safe workplace.
"Managers can do a number of things if they’re serious about encouraging ethical behavior"If you are an organization manager Telecom , explain how you will encourage your employees to behave ethically? *Note explain in detail
Good ethical behaviour may require actingbeyond the requirement of the law.In a highly competitive complex businessworld, it is essential that professionalaccountants maintain their integrity andremember the trust and confidence which isplaced in them by whosoever relies on theirobjectivity and professionalism.Required:• Discuss why the code of ethics is important to professional accountant
Assume that you are a management accountant in a local firm. Your firm is thinking of establishing ethical guidelines for management accounting and you are assigned a task to draft these guidelines. the main ethical aspects of Credibility in management accounting that your local firm should have as guidelines.
Business ethics is about managing ethics in an organizational context and involves applying principles and standards that guide behavior in business conduct. According to IFAC, “The decisions and behaviors of accountants should reinforce good governance and ethical practices, develop and promote an ethical culture, foster trust and transparency, bring credibility and value to decision making, and present a faithful picture of organizational health to stakeholders.” Explain how accountants and auditors can meet these expectations in a global environment and protect the public interest.
Identifying ethical standards The Institute of Management Accountants’ Statement of Ethical Professional Practice requires managerial accountants to meet standards regarding competence, confidentiality, integrity, and credibility. Consider the following situations. Which standard(s) are violated in each situation? a. You tell your brother that your company will report earnings significantly above financial analysts’ estimates. b. You see others take home office supplies for personal use. As an intern, you do the same thing, assuming that this is a “perk.” c. At a company-paid conference on e-commerce, you skip the afternoon session and go sightseeing. d. You failed to read the detailed specifications of a new accounting software package that you asked your company to purchase. After it is installed, you are surprised that it is incompatible with some of your company’s older accounting software. e. You do not provide top management with the detailed job descriptions they requested…
in the context of principled performance, what does it mean for an organization to "act with integrity"? a. it means complying with all industry standards and best practices b. it means achieving the highest possible financial returns for shareholders c. it means living out organizational values and staying within both mandatory and voluntary boundaries d.it means maintaining a strong public image and a positive brand reputation what is the role of a values statement in an organization? a. a values statement is a marketing tool used to attract new customers and investors to the orgnaization b. a values statement is a legal document that outlines the financial obligations and liabilities of the organization that contribute to its value c a values statement reflects the shared beliefs and expectations of the organization's leadership,employees ,and stakeholders and serves as a guide for establishing a postiive and productive organizational culture d a values statement is a formal…
What Financial Perspective Objectives and Initiatives should I develop when the 3 preceeding perspectives are as follows:CustomerCustomer Satisfaction: Achieve high customer satisfaction scores by ensuring a consistent pattern of positive customer experiences at all customer touchpoints whether person to person, through voice communication, text messages, or over the internet.Internal Business ProcessDraw customers to our channels and streamline the fulfillment process to improve service speed and accuracy.Learning and GrowthDevelop a competent and motivated workforce to drive a customer-centric culture
An individual's ethics is influenced by many factors. As a result, everyone's ethical reasoning differs. Companies and organizations create internal rules or codes of conducts to ensure consistent ethical behavior throughout the organization. The code of conduct outlines the expected employee behavior and potential consequences when violated. For accounting firms, the internal code of conduct is based on the expected professional conduct outlined by the American Institute of Certified Public Accountants (AICPA) Professional Code of Conduct. You decide to open an accounting firm that specializes in clients with global operations. Many accounting firms have created their professional code of conduct. Through research, locate at least 3 published codes of conduct. Then, write your firm's professional code of conduct that includes the following: How professionals in your organization approach culture and diversity issues Expectation for ethical behavior and procedures that should be…
For managers speaking and writing skill is a vital necessity their environment is primary involved with language and communication in view of this statement give a detailed illustration of how an effective communication process can aid organisation's such as Nike succeed, to enhance your answer use practical examples to motivate your response