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What is the main difference between a code of ethics and a values statement?
What is the main difference between a code of ethics and a values statement?
- A code of ethics focuses on preventing misconduct, while a values statement addresses current ethical issues.
- A code of ethics is revised annually, while a values statement is communicated frequently to employees.
- A code of ethics reflects upper managers' desire for compliance, while a values statement is developed with input from stakeholders. (correct)
- A code of ethics is developed by the legal staff, while a values statement involves the board of directors.
Why is it important for a code of ethics to involve the president, board of directors, and chief executive officers?
Why is it important for a code of ethics to involve the president, board of directors, and chief executive officers?
- To ensure the code addresses high-risk activities within daily operations. (correct)
- To provide examples that reflect the organization's values.
- To reflect upper managers' desire for compliance with ethical standards.
- To identify overlaps in organizational and stakeholder values.
What is the purpose of including examples in a code of ethics?
What is the purpose of including examples in a code of ethics?
- To identify overlaps in organizational and stakeholder values.
- To communicate the code frequently to employees.
- To make the code understandable by providing reflections of values. (correct)
- To reflect upper managers' desire for compliance with ethical standards.
Which value is NOT included as one of the six core values suggested for codes of ethics?
Which value is NOT included as one of the six core values suggested for codes of ethics?
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Why are distribution, training, and top management support essential for making corporate values effective?
Why are distribution, training, and top management support essential for making corporate values effective?
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