Social Responsibility of Business and Business Ethics Test

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Social Responsibility of Business and Business Ethics Test - 17

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Weekly Quiz Competition

Question 1
1 / -0

The ethics in human resource management cover those ethical issues arising around the __________.

A
society-employer relationship

B
customer-employees relationship

C
employer-State relationship

D
employer-employees relationship

Solution

Human resource management $$(HRM)$$ plays a decisive role in introducing and implementing ethical practices in an organisation. The ethics of human resource management $$(HRM)$$ covers those ethical issues that arise around the employer-employee relationship, such as the rights and duties issues between the employer and employee.
The ethical issues faced by $$HRM$$ include:
— Discrimination issues i.e., discrimination on the bases of age, gender, race, religion, disabilities etc. Discrimination of whistle-blowers
— Issues surrounding the representation of employees and the democratization of the workplace and trade unionization.
— Issues affecting the privacy of the employee: workplace surveillance, drug testing, etc.
— Issues relating to the fairness of the employment contract and the balance of power between the employer and employee.
— Occupational safety and health issues: Companies tend to shift economic risks onto the shoulders of their employees. The emergence of performance related pay system and flexible employment contracts are indicators of these newly established forms of shifting risk.
Question 2
1 / -0

Investors are concerned about ________ of the company in which they invest.

A
ethics, social responsibility and reputation

B
employees

C
executive compensation

D
only profitability

Solution

Investors are concerned about ethics, social responsibility and reputation of the company in which they invest. Investors are becoming more and more aware that an ethical climate provides a foundation for efficiency, productivity and profits. Relationship with any stakeholder, including investors, based on
dependability, trust and commitment results in sustained loyalty
Question 3
1 / -0

Ethics has ________ application.

A
universal

B
continuous

C
rigid

D
limited
Solution
Characteristics of Business Ethics
(i) A Discipline:
(ii) Ancient Concept:
(iii) Personal Dignity:
(iv) Related to Human Aspect:
(v) Study of Goals and Means:
(vi) Different from Social Responsibility:
(vii) Greater than Law:
Question 4
1 / -0

Write the expanded form of "EBEN"?

A
European Business Ethics Network

B
European Behaviour Ethics Network

C
Exact Business Ethics Network

D
None of the above

Solution

The European Business Ethics Network $$(EBEN)$$ works to promote business ethics in all sectors of society throughout Europe. Working with local, national, and regional actors, $$EBEN$$ seeks to increase awareness about corporate responsibility and encourage higher standards by facilitating dialogue and research on various issues pertaining to corporate ethics. $$EBEN's$$ Annual Conference brings together academics from different parts of Europe to explore new ideas and methods for the ethical practice of business. Additionally, $$EBEN’s$$ Research Conference joins practitioners and academics to share findings and experiences in an effort to advance socially responsible practices in European businesses.
Question 5
1 / -0

Which amongst the following ethical issue is not related with ethics in finance?

A
Fraudulent asset valuation

B
Insider trading

C
Executive compensation

D
Price fixing

Solution

Price fixing-a practice whereby rival companies come to an illicit agreement not to sell goods or services below a certain price.
Price fixing is not related with ethics in finance.
Question 6
1 / -0

Which of the following actions is an ethical practice?

A
Harassment

B
Heluseto grant leave; recording genuine reason in writing by the employer

C
Corruption

D
Discrimination by employer in treatment while dealing with employees.

Solution

Unethical behavior is an action that falls outside of what is considered morally right or proper for a person, a profession or an industry. Individuals can behave unethically, as can businesses, professionals and politicians
recording genuine reason in writing for granting leave is an ethical practice, rest are unethical practice.
Question 7
1 / -0

The word ethics is derived from the word 'ethos' which means ______.

A
to hear

B
to look

C
to see

D
to speak

Solution

The term “ethics” is derived from the Greek word “ethos” which refers to character, guiding beliefs,
standards and ideals that pervade a group, a community or people. The Oxford Dictionary states ethics
as “the moral principle that governs a person’s behaviour or how an activity is conducted”.
Question 8
1 / -0

Which of the following is/are correct statements?

A
Business ethics is not applicable is small business and industry

B
Business ethics is not applicable to Government departments

C
Business ethics is applicable to all types of businesses

D
Business ethics is applicable to only few specifies business by GOI.

Solution

Business ethics have universal approach and applicable to all class or types of company.
Business ethics is one of the important branches of applied ethics. Business ethics is the application of general ethical ideas to business. ” Business ethics refers to the moral principles and standards and a code of conduct that businessmen are expected to follow while dealing with others. Business essentially is a means of society to use scarce resources to produce in an efficient manner those goods and services which society wants and is willing to pay for. Businesses must balance their desire to maximize profits against the needs of stakeholders.
Question 9
1 / -0

________ refers to the code of conduct.

A
Code of practice

B
Code of ethics

C
Business ethics

D
All of the above

Solution

Business ethics refers to a ‘code of conduct’ which businessmen are expected to follow while dealing
with others. ‘Code of conduct’ is a set of principles and expectations that are considered binding on any
person who is member of a particular group. The alternative names for code of conduct are ‘code of
ethics’ and ‘code of practice’.
Business ethics comprises of the principles and standards that guide behaviour in the conduct of
business. Businesses must balance their desire to maximize profits against the needs of the
stakeholders. Maintaining this balance often requires tradeoffs. To address these unique aspects of
businesses, articulated as well as implicit rules are developed to guide the businesses to earn profits
without harming individuals or society as a whole.
Question 10
1 / -0

The term "Business Ethics" came into common use in the year ________.

A
$$1950$$

B
$$1960$$

C
$$1970$$

D
$$1980$$

Solution

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. Then, thanks to government legislation, 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.

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Re-Attempt Weekly Quiz Competition

Social Responsibility of Business and Business Ethics Test - 17

Result

Social Responsibility of Business and Business Ethics Test - 17

Score

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Rank

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SHARING IS CARING

Question 1

society-employer relationship

customer-employees relationship

employer-State relationship

employer-employees relationship

Solution

Question 2

ethics, social responsibility and reputation

employees

executive compensation

only profitability

Solution

Question 3

universal

continuous

rigid

limited

Solution

Question 4

European Business Ethics Network

European Behaviour Ethics Network

Exact Business Ethics Network

None of the above

Solution

Question 5

Fraudulent asset valuation

Insider trading

Executive compensation

Price fixing

Solution

Question 6

Harassment

Heluseto grant leave; recording genuine reason in writing by the employer

Corruption

Discrimination by employer in treatment while dealing with employees.

Solution

Question 7

to hear

to look

to see

to speak

Solution

Question 8

Business ethics is not applicable is small business and industry

Business ethics is not applicable to Government departments

Business ethics is applicable to all types of businesses

Business ethics is applicable to only few specifies business by GOI.

Solution

Question 9

Code of practice

Code of ethics

Business ethics

All of the above

Solution

Question 10

$$1950$$

$$1960$$

$$1970$$

$$1980$$

Solution

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