Social Responsibility of Business and Business Ethics Test

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Social Responsibility of Business and Business Ethics Test - 19

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Weekly Quiz Competition

Question 1
1 / -0

Business ethics may be defined as a set of moral rules and principals to protect the interest of _________.

A
industry as whole

B
business unit

C
both business & industry

D
employer
Solution
Importance of Business Ethics. Following ethical business practices are valuable for long-term gains and success.
- Trustworthiness and Honesty. Trustworthiness is a key element of business ethics because the client must have deep trust in your company.
- Confidentiality.
- Technical Integrity.
- Creating an Open Environment.
Hence Business ethics may be defined as a set of moral rules and principals to protect the interest of both business and industry.
Question 2
1 / -0

Which of the following action indicate unethical practice on part of business?

A
To reduce price of product

B
To pay bonus

C
To reduce cost of product

D
To reduce safety standards in factory premises.

Solution

Ethics in human resources - Ethics is the main issue for HR managers, issues of ethics faced by HRP are:-
-Discrimination on the basis of sex, caste, religion, etc.
-Issues related to the employer such as Workplace surveillance etc.
-Issues related to employers such as whistleblowing.
-Sexual harassment.
-Fair employment and business practice.
-Occupational Safety and Health.
-Community Service.
-To reduce safety standards in factory premises indicate unethical practice on part of the business.
Hence, option (D) is the correct answer.
Question 3
1 / -0

Business ethics has ______ application.

A
natural

B
practical

C
universal

D
artificial

Solution

Ethical principles are universal in nature. They prescribe obligations and virtues for everybody in a society. They are important not only in business and politics but in every human endeavor.
Question 4
1 / -0

Ethics refers to a _______ that guides an individual while dealing with others.

A
code

B
conduct

C
code of conduct

D
rules of conduct

Solution

The code of ethics outlines a set of fundamental principles which could be used as the basis for operational requirements (things one must do), operational prohibitions (things one must not do). It is based on a set of core principles and values and is by no means designed for convenience. The employees subjected to the code are required to understand, internalize, and apply it to situations which the code does not specifically address. Organizations expect that the principles, once communicated and illustrated, will be applied in every case, and that failure to do so may lead to disciplinary action.
To create a code of ethics, an organization must define its most important guiding values, formulate behavioural standards, review the existing procedures for guidance and direction and establish the systems and processes to ensure that the code of conduct is implemented and effective. Codes of ethics are not easily created from boilerplate. Ideally, the development of a code is a process in whereby Boards and senior management actively debate and decide core values, roles, responsibilities,
expectations, and behavioural standards.
Question 5
1 / -0

The Society for Business Ethics was started in _____.

A
1950

B
1960

C
1970

D
1980

Solution

The Society for Business Ethics is a non-profit organization established in $$1980$$ to promote the advancement and understanding of ethics in business. Its mission is to provide a forum in which moral, legal, empirical, and philosophical issues of business ethics may be openly discussed and analyzed. Members include scholars, students, and professionals from several countries with a common interest in research, teaching, or the application of ethical principles to business management. The society sponsors a scholarly journal, Business Ethics Quarterly, publishes a newsletter, and hosts an annual conference. Members receive online access to the journal, the newsletter, and a number of scholarly books and conference proceedings as benefits of membership.
Question 6
1 / -0

According to whom, business ethics is an art and science for maintaining harmonizing relationship with society?

A
Rogene

B
S.J. Mill

C
Herbert Spencer

D
Wheeler

Solution

According to Wheeler Business Ethics is an art and science for maintaining harmonious relationship with society, its various groups and institutions as well as reorganizing the moral responsibility for the rightness and wrongness of business conduct.
Business Ethics or Ethical standards are the principles, practices and philosophies that guide the business people in the day today business decisions. It relates to the behaviour of a businessman in a business situation. They are concerned primarily with the impacts of decisions of the society within and outside the business organizations or other groups who keep interest in the business activities . Business ethics can be said to begin where the law ends. Business ethics is primarily concerned with those issues not covered by the law, or where there is no definite consensus on whether something is right or wrong.
Question 7
1 / -0

According whom, business ethics refers to right or wrong behaviour in business decisions?

A
S.J Mill

B
CAntt

C
Woodrad

D
Rogene

Solution

According to Rogene. A. Buchholz, "Business ethics refers to right or wrong behaviour in business decisions".
Business Ethics or Ethical standards are the principles, practices and philosophies that guide the business people in the day today business decisions. It relates to the behaviour of a businessman in a business situation. They are concerned primarily with the impacts of decisions of the society within and outside the business organizations or other groups who keep interest in the business activities . Business ethics can be said to begin where the law ends. Business ethics is primarily concerned with those issues not covered by the law, or where there is no definite consensus on whether something is right or wrong.
Question 8
1 / -0

According to sacredness of means and ends principle of business ethics _________.

A
for a good end a man should not be treated as a factor of production

B
it is unethical to do major evil to another or oneself

C
business should not co-operate with any one for doing any evil acts

D
a good end cannot be attained with wrong means

Solution

Sacredness of means and ends – This principle of organizational ethics emphasizes that the means and techniques adopted to serve the organization ends must be sacred and pure. It means that a good end cannot be attained with wrong means, even if it is beneficial to the society.
Question 9
1 / -0

______ is a set of principles and expectations that are considered binding on any person who is member of particular group

A
Code of conduct

B
Code of ethics

C
Code of practice

D
Any of the above

Solution

The Code of conduct or what is popularly known as the Code of Business Conduct contains standards of business conduct that must guide actions of the Board of Directors and senior management of the company.
The code of ethics outlines a set of fundamental principles which could be used as the basis for operational requirements (things one must do), operational prohibitions (things one must not do). It is based on a set of core principles and values and is by no means designed for convenience. The employees subjected to the code are required to understand, internalize, and apply it to situations which the code does not specifically address. Organizations expect that the principles, once communicated and illustrated, will be applied in every case, and that failure to do so may lead to disciplinary action.
Question 10
1 / -0

Ethics is a set of _______ of human conduct that govern the behaviour of individuals or organizations.

A
principles

B
standards

C
principles or standards

D
none of the above

Solution

Ethics refers to well-founded standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues.
Thus, ethics relates to the standards of conduct and moral judgements that differentiate right from wrong. Ethics is not a natural science but a creation of the human mind. For this reason, it is not absolute and is open to the influence of time, place and situation.

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Re-Attempt Weekly Quiz Competition

Social Responsibility of Business and Business Ethics Test - 19

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Social Responsibility of Business and Business Ethics Test - 19

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SHARING IS CARING

Question 1

industry as whole

business unit

both business & industry

employer

Solution

Question 2

To reduce price of product

To pay bonus

To reduce cost of product

To reduce safety standards in factory premises.

Solution

Question 3

natural

practical

universal

artificial

Solution

Question 4

code

conduct

code of conduct

rules of conduct

Solution

Question 5

1950

1960

1970

1980

Solution

Question 6

Rogene

S.J. Mill

Herbert Spencer

Wheeler

Solution

Question 7

S.J Mill

CAntt

Woodrad

Rogene

Solution

Question 8

for a good end a man should not be treated as a factor of production

it is unethical to do major evil to another or oneself

business should not co-operate with any one for doing any evil acts

a good end cannot be attained with wrong means

Solution

Question 9

Code of conduct

Code of ethics

Code of practice

Any of the above

Solution

Question 10

principles

standards

principles or standards

none of the above

Solution

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