Once Values and Ethical Standards Have Been Formally Adopted, a Company

question 73

Multiple Choice

Once values and ethical standards have been formally adopted, a company must

• A)require every employee to memorize the company's formal statement of core values and code of ethics.
• B)make it unequivocally clear that the company's core values and ethical standards are strictly enforced cultural norms.
• C)rely only on word-of-mouth indoctrination and company tradition to instill values and ethical conduct.
• D)grant compensation increases and promotions only to those managers who are willing to act as evangelists for the company's core values and ethical standards.
• E)hold periodic ceremonies to vilify employees that do not live up to the company's core values or who are found guilty of violating the company's code of ethics.

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Definitions:

Price Variance

The difference between the actual cost and the standard cost of an item, often analyzed to manage and control spending effectively.

Management

The process of directing and controlling a group or organization to achieve its goals through the efficient use of resources.

Industry Standards

Refers to established norms and requirements that guide production and service processes within a specific field to ensure quality, safety, and efficiency.

Normal Conditions

The usual or expected state of things in a given context, such as typical operating conditions in a production environment.