Concept of business ethics - class-XI
Carbon monoxide emitted by automobiles directly contributes to ____________.
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Water pollution
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Noise pollution
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Land pollution
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Air pollution
Carbon monoxide is the colorless, odorless and tasteless gas that is slightly less dense than air. It is emitted by vehicles. It mixes with the air and causes air pollution on a large scale. Carbon monoxide is released through emissions through automobiles, thermal power plants,etc.
If a company has ethics than it gets back from the employees.
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Time
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Skill & energy
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Return out of money
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Both a & b
Effective ethics management within an organization can.
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Minimize errors, losses and fraud
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Eliminate general e-mail abuses
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Eliminate all errors, fraud and losses
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None of the choices are correct
Ethical and unethical behaviours are determined by.
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The individual
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The culture
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Both the individual and the culture
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Neither the individual nor the culture
Acting in ways consistent with what society and individuals typically think are good values. Ethical behavior tends to be good for business and involves demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity and individual rights.
Having good ethical relations with customers will help company.
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By developing a strong competitive position
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By providing strong willingness amongst employees
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Both a & b
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None of the above
Invariably businesses have unethical practice because _________________.
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Of government
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Fear of tax
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Greed
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None of the above
Business Ethics helps the organisation in.
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Retaining people
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Getting people
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Attract the best talent
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All of the above
Reasons why business should act ethically:
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To keep its commitment to society to act ethically.
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To meet stakeholder expectations.
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To protect their employees and their reputation.
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All of the above
Business should act ethically to keep its commitment to society as society and business are interdependent on each other. Investors invest their money in a business and expects the firm to act ethically in all its functions. Employees are aware and want to work in an organization that respect and behave ethically.
Sugarcane business is an example of businesses that are largely influenced by natural environment.
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True
-
False
Sugarcane is a major crop grown in canal irrigated areas of the country. It was observed that due to climatic aberrations especially rainfall and maximum temperature affect productivity, sugar recovery and burning in sugarcane crop. Burning in sugarcane is found to be inversely correlated with rainfall.
Proper environment protection measures include optimum utilization of resources. Optimum utilization implies _________.
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Resources should not remain idle.
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There shall not be shortage of resources.
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Resources should be put to proper use.
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All of the above
Optimum Utilization of Resources Management utilizes all the physical & human resources productively. This leads to efficacy in management. Management provides maximum utilization of scarce resources by selecting its best possible alternate use in industry from out of various uses.
By cutting down waste, a business can cut down operating costs.
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True
-
False
By taking steps to reduce waste, a business can:-
- save money on supplies
- conserve natural resources and energy
- reduce current waste disposal costs and hedge against increased future disposal costs
- meet customer demand for "green" products and environmentally conscious businesses
- avoid adding to the environmental burden caused by producing and disposing of unnecessary materials
- boost employee morale by giving staff members an opportunity to work together on an environmental project
- reduce the risk of future liability associated with the disposal of solid wastes.
Unnecessary travel can be reduced by alternate method of video conferencing that reduces the fuel consumption which in-turn reduces environment pollution.
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True
-
False
Increased industrialization is causing more damage than ever to the natural environment.
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True
-
False
True.
A Programme of Conservation of Wetlands is being implemented by the Ministry, since _______.
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1987
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1988
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1989
-
1990
Wetlands are areas of land where the water level remains near or above the surface of the ground for most of the year. India has a wealth of wetland ecosystems distributed in different geographical regions. Wetland systems, directly and indirectly, support lakhs of people, providing goods and services to them. They help check floods, prevent coastal erosion and mitigate the effects of natural disasters like cyclones and tidal waves. They store water for long periods. The scheme on conservation and management of wetlands was initiated by the Ministry of Environment, Forest and Climate Change (MoEF&CC) in $1987$ with the following objectives:
- To lay down policy guidelines for conservation and management of wetlands in the country;
- To undertake intensive conservation measures in priority wetlands;
- To monitor the implementation of the programme; and
- To prepare an inventory of Indian wetlands.
Which of the following plays a major role in enhancing the quality of environment?
-
Wetlands
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Forests
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Ozone cell
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All the above
Forests cover about a third of the earth’s land area and are essential to the health of our environment. For example, trees and forests absorb and store much of the carbon dioxide that otherwise would be contributing to climate change. Forests are home to about $80$ percent of remaining terrestrial biodiversity. Forests also regulate water cycles, maintain soil quality, and reduce the risks of natural disasters such as floods.Forest ecosystems are sources of wood and timber, of edible products including mushrooms and other fungi, meat (from wildlife), forage for livestock, fruit or honey. Some forest species have medicinal values.
India had a Forest Policy since _________.
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1894
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1895
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1896
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1897
The British introduced scientific management of forests through a centralized approach to forest management and development. The first formal government approach to forestry can be traced to the enactment of the National Forest Policy of $1894$ which stressed on conserving forests for maintaining environmental stability and meeting basic needs of fringe forest user groups. The policy was revised in $1952$ and the new policy emphasized on an extension of forests beyond the traditional forest areas. This gave impetus to social forestry and $agro/farm$ forestry. This policy was the harbinger of the green movement in the country. It also proposed that $60$% of the land in the hills and $20$% in the plains and in all $33$% of the total geographical area should be under forest/tree cover.The National Forest Policy was once again revised in $1988,$ which envisaged community involvement in the protection and regeneration of forests. It accorded highest priority to sustainable management of the forest resource.
The Policy Statement of abatement of pollution was adopted in ______.
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1991
-
1992
-
1993
-
1994
The Policy Statement for Abatement of Pollution, adopted in $1992$ lays emphasis on pollution prevention in place of the conventional end-of-the-pipe treatment also identified the adoption of best available and practicable technologies as the key element for pollution prevention. The focus of the programme is on such issues such as the promotion of clean and low waste technologies, waste minimization, reuse or recycling, improvement of water quality, environment audit, natural resource accounting, development of mass-based standards, institutional and human resource development etc. The whole issue of pollution prevention and control is dealt with by a combination of command and control methods as well as voluntary regulations, fiscal measures, promotion of awareness etc.
The National Afforestation and Eco development Board was constituted in ________.
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1992
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1993
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1994
-
1995
_________ label has been introduced to label consumer products that are environment friendly.
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Eco mark
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Agmark
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Euro-mark
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None of them
To increase consumer awareness, the Government of India launched the eco-labelling scheme known as $`Ecomark'$ in $1991$ for easy identification of environment-friendly products. Any product which is made, used or disposed of in a way that significantly reduces the harm it would otherwise cause the environment could be considered as Environment-Friendly Product. The $'Ecomark'$ label is awarded to consumer goods which meet the specified environmental criteria and the quality requirements of Indian Standards. Any product with the $Ecomark$ will be the right environmental choice.
A programme of Environment Impact Assessment (EIA) was introduced in India ___________.
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1976
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1977
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1978
-
1979
Forest Policy was revised in _____________.
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1952 and again in 1988
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1962 and again in 1989
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1942 and again in 1962
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1952 and again in 1961
The British introduced scientific management of forests through a centralised approach to forest management and development. The first formal government approach to forestry can be traced to the enactment of the National Forest Policy of $1894$ which stressed on conserving forests for maintaining environmental stability and meeting basic needs of fringe forest user groups. The policy was revised in $1952$ and the new policy emphasised on extension of forests beyond the traditional forest areas. This gave impetus to social forestry and $agro/farm$ forestry.
Which of the following are the heavily polluting industries?
I. Cement II. Thermal Power Plants
III. Sugar IV. Oil Refineries
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I and II are correct
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II and Ill are correct
-
I, II and III are correct
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All of the above
Industrial production has grown in India by more than $50-$fold over the past century. Cement, Thermal power plants, sugars and oil refiners are all considered as heavily polluting industries. These contribute to the environment in terms of suspended particulate matter, gases and effluents. About $77$ per cent of the industries contribute to water pollution while $15$ per cent to air pollution and the remaining eight per cent to both air and water pollution.
The national apex body for assessment, monitoring and control of water and air pollution is __________.
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The Central Pollution Control Board
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The Ministry of Environment and Forests
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The Ministry of Finance
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None of the above
The Central Pollution Control Board $(CPCB)$ of India is a statutory organisation under the Ministry of Environment, Forest and Climate Change.It serves as a field formation and also provides technical services to the Ministry of Environment and Forests of the provisions of the Environment (Protection) Act, $1986$. Principle functions of $CPCB$ are $(i)$ to promote cleanliness of streams and wells in different areas of the States by prevention, control and abatement of water pollution, and $(ii)$ to improve the quality of air and to prevent, control or abate air pollution in the country
The Wildlife (Protection) Act was adopted in ________.
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1971
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1972
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1973
-
1974
The Wildlife Protection Act, $1972$ is an Act of the Parliament of India enacted for the protection of plants and animal species. Wildlife Protection Act $1972$ was passed on $August 21, 1972,$ but was later implemented on $September 9, 1972.$
- Prohibition of hunting
- Protection and management of wildlife habitats
- Establishment of protected areas
- Regulation and control of trade in parts and products derived from wildlife
- Management of zoos
Which of the following does not consist of environmental degradation?
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Land degradation and soil erosion
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Problem of overgrazing and ecological degradation
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Floods
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None of the above
Environmental degradation is the deterioration of the environment through depletion of resources such as air, water and soil; the destruction of ecosystems; habitat destruction; the extinction of wildlife; and pollution.It is defined as any change or disturbance to the environment perceived to be deleterious or undesirable. Ecological effect or degradation is created by the consolidation of an effectively substantial and expanding human populace, constantly expanding monetary development or per capita fortune and the application of asset exhausting and polluting technology. It occurs when earth’s natural resources are depleted and environment is compromised in the form of extinction of species, pollution in air, water and soil, and rapid growth in population.
A National Environmental Awareness Campaign (NEAC) is organised ______.
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annually
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twice a year
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once in three years
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once in five years
Fairness in employment practices centers on ________.
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hiring no family members of friends
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giving people equal rewards for accomplishing the same tasks
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obeying equal employment opportunity legislation
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avoiding conflicts of interests
A company is said to have adopted fairness in employment practice when it follows a policy of recruiting on the basis of qualification and other merits and not on the basis of bribe, recommendation etc.
Top managers demonstrate commitment to ethical business practices with ________.
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the adoption of written codes of ethics
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employee empowerment
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decentralized decision making practices
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collusion with other companies
- Managers at all levels and in all functional areas face ethical issues. In fact, there is seldom a decision wherein an ethical dimension is not involved. Matters of right and wrong, just and unjust, and fair and unfair arise frequently. In order to deal with these issues, managers need some guidelines.
- Organisations, formulate both business and non-business guidelines in the form of a code of conduct or code of ethics. The need for a corporate code of conduct has increased due to frequent corporate scandals, inside trading and misuse of funds. With globalization of business, more and more companies are developing a code of ethics to be observed. Moreover, every profession has a code of conduct for its members.
- A code of ethics should reflect top management's desire for compliance with the values, rules, and policies that support an ethical climate. The development of a code of ethics should involve the President, Board of Directors, and Chief Executive Officers who should be implementing the code.
- Legal staff should also ensure that the code has assessed key areas of risk correctly, and that it provides buffers for potential legal problems.
An experiment about negotiations conducted with graduate business students revealed that they would _________________.
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misrepresent the truth to gain advantage
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not lie even if it meant losing advantage
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curse and intimidate the opponents to win
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curse and intimidate the arbitrator to win
An experiment about negotiations conducted with graduate business students revealed that they would misrepresent the truth to gain an advantage.
What are the corporate codes of ethics?
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Are always externally audited
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Create guidelines for employees to work
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Are always compliance based
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Are always integrity based.
Government gives awards for ethics shown by business people. The name of the award is ______________________.
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Indira Gandhi Paryavaran Puraskar
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Indira Gandhi Literacy Puraskar
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Rajeev Gandhi Paryavaran Puraskar
-
Mahatma Gandhi Paryavaran Puraskar
Which statement is false?
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Fewer and fewer companies are adopting codes of ethics.
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More and more companies are adopting codes of ethics.
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Some ethical responses can be learned through experience.
-
Social responsibility involves providing quality products and pricing products fairly.
Ethics or moral philosophy is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. The field of ethics, along with aesthetics, concern matters of value, and thus comprise the branch of philosophy so in today's dynamic environment every small medium or large companies are adopting codes of ethics.
Invariably businesses have unethical practice because of ___________.
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the stringent and rigid government policies
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fear of taxation
-
greed
-
none of the above
The issue of fraudulent asset valuation is included in _________.
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ethics in compliance
-
ethics in finance
-
ethics in marketing
-
ethics in production
The primary responsibility of a business is towards ________.
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employees
-
owner
-
banker
-
employer
Primary responsibility of business is towards their employee as they are the most important asset (Human resource) who invest their efforts in favor of the company to better its position. Without employees company cant run.
Which one of the following is a measure to improve ethical behavior of business at societal level?
-
Indira Gandhi Paryavarari Puraskar
-
Mumbai Grahak Panchayat
-
Ethical Committee comprising BOD
-
All of the above
Mumbai Grahak Panchayat $(MGP)$ is perhaps the largest voluntary consumer organisation in India with a membership of 24,500 families. It has been engaged in activities of consumer protection and education for the last 33 years. Its unique collective group buying system provides a best practice model for sustainable consumption.
Which of the following Acts made code of ethics mandatory for companies listed on the stock exchange?
-
Companies Act, $2006$
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Sarbanes- Oxley Act, $2002$
-
Limited Liability Partnership Act, '$2008$
-
None of the above
The idea of business ethics caught the attention of academics, media and business firms by the end of __________.
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First World War
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Second World War
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Cold war
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None of the above
The notion of ethics in business can be traced back to the earliest forms of bartering, based on the principle of equal exchange. Countless philosophers and economists have examined the topic, from Aristotle and his concept of justice to Karl Marx's attack on capitalism. But the modern concept of business ethics dates back to the rise of anti-big business protest groups in the United States in the $1970s$. The subject gradually became an academic field in its own right, with both philosophical and empirical branches. Eventually, ethics have been incorporated into businesses, reflected today in corporate social responsibility strategies and codes of conduct. Business ethics is now not only a firmly established academic field, it is something companies realize they need to manage and internalize.
Providing information to law enforcement or regulatory agencies about illegal or improper activities of business or by its employees is known as _______.
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ethical wrong
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whistle blowing
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ethical dilemma
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ethical wonder
Which one of the following is not the primary element of a strong organizational compliance program?
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A written code of conduct
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An ethics officer
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Significant financial expenditures
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A formal ethics training program
Elements of business ethics
1. The first element is a strong code of ethics.
2. The second key element to a solid ethics foundation is ethics training.
3. The third key element to a strong ethics foundations is an "ethics coach".
__________ also serves to inform employees of the vision that the company's executives have for the company's image and goals.
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Customer feedback
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Code of ethics
-
Ethics coach
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Mission
Business must first be responsible to __________.
-
employees
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customers
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owners
-
bankers
Customer satisfaction is a vital factor in successful business strategy. An organization with a strong ethical environment places its customer's interest as foremost. As customers are the backbone of any enterprises therefore business must be responsible to its customer.
Spending money on restoring the environment, affected out of products of inherently dangerous nature is considered as part of __________.
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business ethics
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corporate philanthropy
-
whistle blowing
-
corporate leadership.
"Adhering to rules and authority" comes under which scope of ethics?
-
Ethics in marketing
-
Ethics in compliance
-
Ethics in finance
-
Ethics in production
Mohan joined a company as Chief Finance Officer (CFO). He observes that the company is involved in concealing tax and engaged in other malpractices. He brought this fact to the notice of the Income Tax Authorities. This action of Mohan would be termed as _______.
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cartelisation
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misconduct
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ethical wrong
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whistle blowing
Sarbanes Oxley Act of $2002$ is named after which of the following experts?
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Aristotle
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Smator Paul Sarbanes
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Michael Oxley
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Both (b) and (c)
The Sarbanes-Oxley Act, officially named the Public Company Accounting Reform and Investor Protection Act of $2002$, became law on $July\ 30, 2002$. The law was informally named after its sponsors, Senator Paul Sarbanes (D-MD) and Representative Michael G. Oxley (R-OH).
Which of the following ethical issue is related to finance?
-
Abusing co-workers
-
Black mailing
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Insider trading
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Using of power and abusive language.
Insider trading is a word that has many definitions and connotations and which includes both legal and illegal activities.
Which of the following statements is not correct?
-
Ethics pays in long term
-
Codes of ethics foster ethical, ethical behavior because they expand the opportunity to behave ethically
-
Ethics is good for company
-
Without a code of ethics or formal policy on ethics employees are likely to base their peers and superiors behave.
Activity to improve ethical behavior by enacting various legislation is not taken at _________.
-
government level
-
institutional level
-
industrial level
-
societal level
-companies to follow various legislation such as the Minimum Wages Act, Essential Commodities Act etc,
- framing laws and strict penalties if laws do not adhere.
- The government should announce the certain reward for individuals who practice ethical behavior like Indira Gandhi Paryavaran Puraskar
-Using mass media to educate people.
Which of the following action indicate ethical practice on part of business?
-
To promote harmful products
-
To promote corruption
-
To promote harmless products
-
To promote alcohol
Promoting harmful products, corruption and alcohol are not a ethical practice. But promoting harmless product are an ethical activity.
Aspiration of Indians to build a strong nation is a short time coupled with their Colonial legacy, has led to two divergent strands of values. This can be attributed to which category of reasons for unethical behavior?
-
Cultural and social reason
-
Sanctions and discrimination
-
Greed for quick money
-
Absence of well organised consumer movement
Cultural environments that condone corruption. Such as defending or even admiring crooks. Or rationalizing false arguments with no moral basis . Who ought to promote that culture? Social leaders? Everyone?
Measures to improve ethical behavior of business are framed at which level?
-
Societal level
-
Government level
-
Institution level
-
All of the above
following are the measures to improve ethical behavior of business :-
Which of the following ethical issue is related to production?
-
Black market
-
Grey market
-
Price discrimination
-
None of the above
Corporate codes of ethics.
-
Are always externally audited
-
Create guidelines for employees to work by
-
Are always compliance based
-
Are always integrity based
Pick the odd one. It is UNCOMMON for business to behave ethically because.
-
It has to meet stock holder expectations
-
It has to ignore their employees relations
-
To build trust with shareholders
-
All of the above
Ignoring employees relations are not ethical because employees are the most important resource of the company .
EBEN is?
-
European Business Ethics network
-
European Business Ethics nation
-
European Business Ethics national
-
None of the above
The European Business Ethics Network $(EBEN)$ is an international network of academics and practitioners that promotes ethical business practice and increases awareness about ethical challenges in the global marketplace.
Government gives awards for ethics shown by business people. The name of the award is?
-
Indira Gandhi Paryavaran Puraskar
-
Indira Gandhi Kiteracy Puraskar
-
Rajeev Gandhi Paryavaran Puraskar
-
Mahatma Gandhi Paryavaran Puraskar
Indira Gandhi Paryavaran Puraskar ( Indira Gandhi Environment Award) is an environment award instituted by the Ministry of Environment and Forests, Government of India in the year $1987$, in order to encourage public participation in environment. It is awarded to individuals and organizations that have made significant and measurable contributions in the field of environment protection and improvement.The prize is presented every year on an occasion related to the environment.
Focusing more on the environmental impacts helps to attract and retain employees, and customers.
-
True
-
False
Make it clear to employees that you welcome — and will implement — good ideas that also foster sustainability. For example, installing motion sensors in your workplace that turn off the lights when nobody is in the room will help save energy and save money. Establish a program that rewards and recognizes employees who come up with ideas that reduce waste and save resources. That's certainly a win for people, planet and profits.
Prevention of wastage of materials and energy can be done through _______.
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Recycling
-
Reducing consumption
-
Selection of suitable facility for production
-
All of the above
- Recycling: Place blue recycling bins around the office for easier trash disposal. You can also provide smaller containers for recyclable materials along with individual employee wastebaskets. Demonstrate your support for sustainable products by asking your office manager to prioritize the purchase of office supplies that contain recycled materials.
- Reducing consumption: Encourage employees to minimize waste by reducing unnecessary printing, turning lights off in rooms that are not being used and bringing their own mugs and reusable water bottles from home.
- Selection of suitable facility for production: selecting the best method of production which reduces wastage of material and energy.
Identify the measures taken by businesses to protect environment.
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Installing and maintaining pollution control equipment.
-
Having an audit system for checking the efficacy of environment protection measures.
-
Participating in environmental protection measures.
-
All of the above
There are many measures which can be taken by businesses to protect environment. All the above 3 are examples of the steps which businessmen can apply in their business and contribute to the environment which will protect environment to a certain limit.
The Sarbanes-Oxley Act, $2002$ was enacted and passed in USA to _________.
-
punish those who committed accounting frauds in the late $1990s$
-
improve corporate profits
-
help laid-off employees get their jobs back
-
help restore confidence in corporate America
The latest trend followed by businesses in promoting environmental protection is ___________.
-
Going green
-
Technology
-
Cost efficient model
-
None of the above
The latest trend followed by businesses in promoting environmental protection is
Despite extensive economic growth and increases in the quality of life over the last century, concern remains that the era of industrialization has had substantial negative effects on the natural environment and that these effects diminish the vitality and sustainability of our economic systems[i]. In addition to the localized problems pollution, recent scientific discoveries have revealed global scale effects such as ozone depletion and climate change[ii]. The long-term economic impacts of these effects may be quite substantial as a large portion of the world’s economic output is dependent upon the viability of natural systems.
Environmental sustainability and fight against climate change is a long-term strategic issue for the modern world within the broader context of sustainable development. It is an established fact now that climate change has the potential to alter the ability of the earth’s physical and biological systems. It impacts different regions and sectors differently based on their sensitivity and adaptive capacity, and therefore, vulnerability.
The condition of the natural world depends significantly on what profit-making companies are doing, the way they are working, the kind of goods they are producing, and the attitude they are taking toward the natural world.
-
True
-
False
Protecting the environment is itself a business, and many organizations, especially nonprofits, take that as their guiding purpose.Their direct influence over the natural world, however, is slight when compared against all the globe’s for-profit companies chugging away in the name of earning money. Whether the place is Cancun, or China, or the United States, the condition of the natural world depends significantly on what profit-making companies are doing, the way they’re working, the kinds of goods they’re producing, and the attitude they’re taking toward the natural world. Three common attitudes are
- Accelerate and innovate,
- Monetize and count,
- Express corporate responsibility.