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Social Responsibility of Business and Business Ethics Test - 15

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Social Responsibility of Business and Business Ethics Test - 15
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Weekly Quiz Competition
  • Question 1
    1 / -0
    ____________ is one of the principles in business ethics.
    Solution
    INTEGRITY.
    Maintain personal integrity. Ethical executives earn the trust of others through personal integrity. Integrity refers to a wholeness of character demonstrated by consistency between thoughts, words and actions. Maintaining integrity often requires moral courage, the inner strength to do the right thing even when it may cost more than they want to pay.

    LOYALTY.
    Be loyal within the framework of other ethical principles. Ethical executives justify trust by being loyal to their organization and the people they work with. Ethical executives place a high value on protecting and advancing the lawful and legitimate interests of their companies and their colleagues. Ethical executives demonstrate loyalty by safeguarding their ability to make independent professional judgments.
  • Question 2
    1 / -0
    If something is to be improved they have to be improved at _________.
    Solution

  • Question 3
    1 / -0
    Which one of the following is correct about business ethics?
    Solution
    Universal application- intended to provide standards of professional conduct. This code is intended to provide general principles to cover most situations encountered by coaches of ethics. Its primary goal is the welfare and protection of individuals and groups with whom coaches work.
    Business ethics have no absolute norms, neither enforced by law.
  • Question 4
    1 / -0
    Which of the following Acts made code of ethics mandatory for companies listed on the stock exchange?
    Solution
    Section 302 of Sarbanes Oxley Act of 2002, an Act enacted by U.S. congress to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes contains following provisions for whistle-blowers:
    • Make it illegal to “discharge, demote, suspend, threaten, harass or in any manner discriminate against” whistle-blowers.
    • Establish criminal penalties of up to 10 years for executives who retaliate against whistle-blowers.
    • Require board audit committees to establish procedures for hearing whistle-blower complaints.
    • Allow the secretary of labor to order a company to rehire a terminated employee with no court hearing.
    • Give a whistle-blower the right to a jury trial, bypassing months or years of administrative hearings.
  • Question 5
    1 / -0
    Ethics is considered as ____________.
    Solution
    Ethics, also called moral philosophy, the discipline concerned with what is morally good and bad, right and wrong. The term is also applied to any system or theory of moral values or principles.
    Hence ethic is not a normative science nor a exact science or natural science. It is better to call it as moral philosophy.

  • Question 6
    1 / -0
    Which one of the following is the quality of an ethics coach?
    Solution
    Ethics coach - intended to provide standards of professional code of conduct. This code provides general principles to cover most situations encountered by coaches. Its primary goal is the welfare and protection of individuals and groups with whom coaches work.
    The third key element to a strong ethics foundation is an "ethics coach" - the service can be either in-house or out-sourced, who will be available as a friendly and confidential resource for employees facing complicated ethical dilemmas. This person needs to have sufficient expertise in employing ethical concepts, analytical skills and decision-making tools to facilitate an ethical resolution to the problem.
  • Question 7
    1 / -0
    A written document of policies and principles that guides the behavior of all employees is known as __________.
    Solution
    Code of ethics.
    A written set of guidelines issued by an organization to its workers and management to help them conduct their actions in accordance with its primary values and ethical standards.


  • Question 8
    1 / -0
    Business ethics and financial performance are linked together and hence are advantageous to _________.
    Solution
    Despite the increasing significance of corporate ethics, few studies have explored the intermediate mechanisms that explain the relationship between corporate ethics and firm's financial performance. 
    1. Businesses have great potential to transform people's lives and to alleviate poverty by generating economic growth. They produce goods and services that customers want and they create jobs. 
    2. Through paying taxes, they contribute to government revenue that can finance schools, hospitals and other public services.
  • Question 9
    1 / -0
    Which one of the following means ethical dilemma?
    Solution
    Ethical dilemmas, also known as a moral dilemmas, are situations in which there is a choice to be made between two options, neither of which resolves the situation in an ethically acceptable fashion. In such cases, societal and personal ethical guidelines can provide no satisfactory outcome for the chooser, like situation requiring a choice between ethical and unethical behavior

  • Question 10
    1 / -0
    Which one of the following statements about business ethics is false?
    Solution
    Business ethics is required for every type of organization, small or big, profitable or less profitable, as business ethics will help them to have a good connection with customers, employees, shareholders etc.
    Business ethics is not against fair profit making. However, it is against making profit by cheating and exploiting consumers.
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