Question 1

An effective code of ethics is formed of a standard set of recommendations that includes both advice and internal structures to help employees implement the code of ethics.

Accepted Answer

An effective code of ethics should provide both guidance on ethical behavior and practical measures to help employees implement the code. This may include training programs, reporting mechanisms, and systems for enforcing the code. By having clear expectations and support in place, organizations can better ensure that their employees act ethically and uphold the company's values.

Question 2

In a short essay, list and discuss the four types of statements that a corporation may adopt to communicate the corporation's view of the subject of ethics.

Accepted Answer

The answer of In a short essay, list and discuss...

Question 3

In a short essay, list six components of a code of conduct for financial institutions according to the publication "Corporate Codes of Conduct: Guidance to Implementing an Effective Ethics Program."

Accepted Answer

The answer of In a short essay, list six components...

Question 4

Stakeholder engagement processes ensure that the ethical vision the firm is developing coincides with the needs and expectations of all the stakeholders.

Accepted Answer

Stakeholder engagement processes involve actively involving stakeholders in the decision-making and strategy development processes of a company. This ensures that the ethical vision of the firm aligns with the needs and expectations of all stakeholders, including customers, employees, shareholders, suppliers, and the community. Involving stakeholders in the process can help to build trust and credibility, as well as identifying potential ethical risks or concerns early on, which can then be addressed proactively. Therefore, stakeholder engagement is an important component of ethical leadership and corporate social responsibility.

Question 5

The UN Global Impact was established in January 1999 based on a challenge by former Secretary-General of the United Nations Kofi Annan for businesses to adopt universal environmental and social principles.

Accepted Answer

This statement is true. The UN Global Impact was indeed established in January 1999 following a speech by Kofi Annan challenging businesses to adopt universal environmental and social principles.

Question 6

Total Responsibility Management starts with the premise that the vision of the firm drives the development of the code of ethics.

Accepted Answer

Total Responsibility Management (TRM) is a framework for ethical decision-making in organizations that emphasizes taking full responsibility for the impacts of decisions and actions. TRM starts with defining the firm's vision and values, which in turn inform the development and implementation of a code of ethics. Therefore, the statement is true.

Question 7

Firms that implement a Total Responsibility Management system are not able to generate the relevant information of interest for internal and external stakeholders due to the complexity of the system.

Accepted Answer

Total Responsibility Management systems are designed to provide a comprehensive view of a firm's social, environmental and economic impact. These systems typically involve significant data collection and analysis, but are specifically designed to generate information that is useful for internal and external stakeholders. Therefore, firms implementing such systems should be able to generate the relevant information of interest to stakeholders.

Question 8

In a short essay, describe the main elements of a Living Code of Ethics.

Accepted Answer

The answer of In a short essay, describe the main...

Question 9

In a short essay, list and discuss common mistakes that companies make when developing global ethics programs.

Accepted Answer

The answer of In a short essay, list and discuss...

Question 10

Kyosei is defined as the ability to live and work together for the common good that allows for mutual prosperity through cooperation.

Accepted Answer

Kyosei is a Japanese term that promotes living and working together for the common good through cooperation and mutual prosperity.

Question 11

In a short essay, list and discuss the three major stages of the Total Responsibility Management system.

Accepted Answer

The answer of In a short essay, list and discuss...

Question 12

Section 406 of the Sarbanes-Oxley Act of 2002 requires that companies that are publicly traded disclose whether or not they have a code of ethics.

Accepted Answer

Section 406 of the Sarbanes-Oxley Act of 2002 explicitly requires publicly traded companies to disclose whether they have adopted a code of ethics for senior financial officers, or clarify why they have not done so.

Question 13

The three major stages of the TRM system are unfreezing, moving, and refreezing.

Accepted Answer

The three major stages of the TRM system are actually threat assessment, threat management, and resolution. The terms unfreezing, moving, and refreezing refer to Lewin's Change Management Model, not the Threat Response Management (TRM) system.

Quiz 12: Establishing a Code of Ethics and Ethical Guidelines

An effective code of ethics is formed of a standard set of recommendations that includes both advice and internal structures to help employees implement the code of ethics.

In a short essay, list and discuss the four types of statements that a corporation may adopt to communicate the corporation's view of the subject of ethics.

In a short essay, list six components of a code of conduct for financial institutions according to the publication "Corporate Codes of Conduct: Guidance to Implementing an Effective Ethics Program."

Stakeholder engagement processes ensure that the ethical vision the firm is developing coincides with the needs and expectations of all the stakeholders.

The UN Global Impact was established in January 1999 based on a challenge by former Secretary-General of the United Nations Kofi Annan for businesses to adopt universal environmental and social principles.

Total Responsibility Management starts with the premise that the vision of the firm drives the development of the code of ethics.

Firms that implement a Total Responsibility Management system are not able to generate the relevant information of interest for internal and external stakeholders due to the complexity of the system.

In a short essay, describe the main elements of a Living Code of Ethics.

In a short essay, list and discuss common mistakes that companies make when developing global ethics programs.

Kyosei is defined as the ability to live and work together for the common good that allows for mutual prosperity through cooperation.

In a short essay, list and discuss the three major stages of the Total Responsibility Management system.

Section 406 of the Sarbanes-Oxley Act of 2002 requires that companies that are publicly traded disclose whether or not they have a code of ethics.

The three major stages of the TRM system are unfreezing, moving, and refreezing.