Business Ethics Essay - Part 4
Business Ethics 1 - Business Ethics Essay introduction. Businesses can succeed only if they maintain a good relationship with all their stakeholders. These relationships can be strengthened if organizations fulfil their responsibilities towards their stakeholders. In this light, discuss the responsibilities of an organization towards its internal stakeholders. 2. How employees can resolve dilemmas? 3. How managers can resolve dilemmas? 4. How is the code of ethics different from the code of conduct? What is the method of integrating business ethics in an organization?
How can business ethics be improved in the current scenario in India? 5. Define values; distinguish between social values and corporate values. Enlist and discuss some of the important corporate values. 6. What is ethical investment? 7. Why good managers make bad ethical decisions? 8. What are the ethical dilemmas regarding competitive intelligence? 9. How can the character, goals & aspirations of leader contribute to business ethics of the organization? 10. Show how culture functions promote the survival of a firm by influencing its external & internal behaviour?
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11. Discuss the code of conduct for a lawyer or charter accountant or an engineer. 12. What do you mean by ethical investment? What are its modern forms? 13. What is corporate social reporting? What are its uses? 14. The environmental problems of developing countries are not the side effect of excessive industrialization but the inadequacy of development. Explain this “Paradox”. 15. Show how the theme of creativity draws attention when we deal with management activities? 16. Why are we concerned about “Deteriorating values”? How do values and dedication bring skill? 17.
Discuss how the “Eight fold path leads to cessation of suffering” according to Lord Buddha. 18. The Buddhist Economics is very different from the economics of modern materialism because the Buddhist sees the essence of civilization not in the multiplication of wants but in the purification of “Human Character”, Discuss how true is this statement. 19. Describe the Gandhian idea of “Trusteeship”? 20. Can we do without ethics in economics activities? Substantiate your arguments with some examples from real life situation. 21. What do you mean “work ethos” or “work culture”?
Give an idea of work ethics at different levels. 22. Arun Motors is ready to takeover Vishnu Motors. Mr. Feroz, the manager of Vishnu Motors is worried about the impact this is going to create. Therefore Mr. Feroz and a group of employees are looking for ways in which to protect themselves from the unruly predator. Explain the various techniques Mr. Feroz can use to protect the company. 23. Write short notes on any two of the following: a. Whistle blowing b. White collar crime c. Workers Participation d. Quality Circle Multiple Choice questions:- 1.
Various factors/principles are involved in ethical decision making. Which of the following factors/principles implies that decisions which affect a large number of people require great attention? (a) Magnitude of consequence (b) Probability of effect (c) Concentration of effect (d) Proximity (e) Time interval. 2. Due to which of the following reason/s can corporations be referred to as ”moral persons‘? I. The ability to use moral reasons in decision-making. II. The ability of the decision-making policy to control not only the explicit corporate acts but also structure the policies and rules.
III. Entitlement to the same political and voting rights that are guaranteed by the constitution to citizens. (a) Only (II) above (b) Both (I) and (II) above (c) Both (I) and (III) above (d) Both (II) and (III) above (e) All (I), (II) and (III) above. 3. Which of the following is a system established by Nike to assess new factories likely to be added to the Nike production group, that involves a preliminary inspection of the factories to determine whether they meet basic parameters for a clean healthy workplace? (a) SHAPE (b) Just-in-time (c) Ethical audit (d) Believe approach (e) Hedonism. 4.
Which of the following is not a liability that a director can be subjected to? (a) Liability for breach of statutory duties (b) Liability for breach of fiduciary duties (c) Unlimited liability (d) Personal liability (e) Criminal liability. 5. A corporation has various purposes. Which of the following purposes means that corporations are perpetual entities and can carry out their business activities anywhere in the world? (a) Human satisfaction (b) Social structure (c) Efficiency and Efficacy (d) Identity (e) Ubiquity. 6. In which stage of ethical consciousness, was there a shift in focus from ”business‘ to ”ethics‘?
(a) Law of the jungle (b) Profit maximization in the long-term (c) Stakeholder concept (d) Profit maximization in the short-term (e) Corporate citizenship. 7. Which of the following directors influence the decisions of the board without formally being present on the board? (a) Nominee director (b) Shadow director (c) Non-executive director (d) Representative director (e) Alternate directors. 8. Which of the following is/are not true about the characteristics of ”ethical decisions in business‘? I. Ethical decisions do not have a unique solution. II.
Consequences of most unethical decisions are obvious in nature. III. Ethical decisions result from situations that are beyond one‘s control and not from voluntary human actions. IV. Ethical/unethical decisions have wide ramifications. (a) Only (I) above (b) Only (II) above (c) Both (I) and (IV) above (d) Both (II) and (III) above (e) (II), (III) and (IV) above. 9. As per analysis by Hellriegel, Slocum and Woodman, according to which of the following principles do workers believe that they are justified and organizations must customarily compensate more before a festival? (a) Categorical imperative
(b) Conventionalist(c) Disclosure (d) Organizational ethic (e) Distributive justice. 10. A Brazilian NGO Reciclar-t3 makes clothes out of recycled clothes. This is an example of (a) Blue initiative (b) Global warming (c) Community relations (d) Value added engineering (e) Green initiative. 11. Which of the following unethical practices is/are possible when management buyout is attempted? I. Management may leak confidential information for its benefit during the buyout. II. Management may stall the buyout attempt in the hope that another more favorable company will try to take them over.
III. Management may attempt to bring down the share price and buyout the company at a cheaper price. IV. Management may promote its o wn interests at the time of bidding. (a) Only (II) above (b) Both (I) and (II) above (c) Both (I) and (III) above (d) Both (III) and (IV) above (e) (I), (III) and (IV) above. 12. Which of the following unethical practices were prevalent in China in the early 1990s‘? I. Child labor. II. Prison labor. III. Remuneration discrimination. (a) Only (I) above (b) Only (II) above (c) Only (III) above (d) Both (I) and (II) above
(e) All (I), (II) and (III) above. 13. For which of the following reasons can ”firing‘ an employee be considered just/fair? (a) Inclusion of firing ”at will‘ clause in the employment contract (b) Lay offs (c) Downsizing (d) Rightsizing (e) Act of sabotage by an employee. 14. A multinational company operating from a dev eloped country is said to be ethical if it adopts (a) The standards of the home country to frame its policies (b) The standards of the host country to frame its policies (c) Uniform standards in all countries of operations
(d) The best of both the home and the host co un try standards to frame the policies (e) The industry norms. 15. Which of the following is referred to as the sense of obligation on the part of companies to build certain social criteria and manage the business activities by taking strategic decisions? (a) Corporate social responsibility (b) Organizational social responsiveness (c) Corporate obligation (d) Business ethics (e) Corporate philanthropy. 16. Which of the following is a characteristic of the Anglo-American model of corporate governance?
(a) The supervisory board appoints and monitors the management board (b) The creditors have a lien on the assets of the corporation (c) The labor relations officer finds a place on the management board (d) The president is appointed on the basis of a consensus between the shareholders and the banks (e) The board ratifies whatever decisions the President takes. 17. Which of the following aims at checking the actions of a firm that are directed at maximizing longterm owner value and the extent of distributive justice? (a) Social audit (b) Functional audit (c) Ethical audit (d) Philanthropy (e) Enterprise audit. 18.
Organizations perform a number of tasks or functions in society. The tasks that involve supporting and promoting human rights and allow freedom of speech etc. , relate to (a) Financial tasks (b) Economic and production tasks (c) Maintenance tasks (d) Political tasks (e) Adaptive tasks. 19. With respect to business ethics, national and international frauds such as the Harshad Mehta scam, the Enron scam, the Arthur Andersen scam, and so on, point at I. The increasing gap between values and practices. II. The incongruity in what is learnt and what is taught. III. The Lack of proper systems to curb such practices.
(a) Only (I) above (b) Only (II) above (c) Only (III) above (d) Both (I) and (III) above (e) Both (II) and (III) above. 20. Which of the following is not a feature of an ”all-executive board‘? (a) It is commonly adopted by many family owned businesses and completely owned subsidiary companies (b) There is no separation between the owner and the management (c) The board does not have even on e single outside director (d) The owner‘s interests are automatically safeguarded (e) The board is divided into the supervisory board and the executive management board. 21. Which of the following statements about laws is/are true?
I. Law can be used to regulate every aspect of business. II. An activity that is legal is morally permissible. III. The law does not employ moral judgments. IV. Law is universal in nature. (a) Only (I) above (b) Only (IV) above (c) Both (I) and (II) above (d) Both (II) and (III) above (e) (I), (II) and (IV) above. 22. The anti-takeover technique where the management stalls a takeover attempt in the hope that another more favourable company will try to take them over is referred to as (a) Sandbag (b) Poison pill (c) People pill (d) Green mail (e) Golden Parachute. 23. A change in strategies brings changes in ownership.
Which of the following activities, resulting from change in ownership, involves financing from third parties through substantial borrowing by the private company? (a) Exchange offers (b) Share repurchase (c) Going private (d) Corporate raiding (e) Leveraged buy-out. 24. Which o f the following includes short and long -range studies of the internal requirements of the company and the external supply markets? (a) Purchase feedback (b) Purchase contract (c) Purchase research (d) Purchase invoice (e) Purchase schedule. 25. With respect to the Indian environment, which of the follo win g is false?
(a) Carbon intensity levels are high in India compare to other Asian countries (b) As per a WHO report, Delhi is one of the top ten most polluted cities in the world (c) Majority of environmental issues that India faces are related to air pollution (d) Carbon emission in India has grown nine times over the past decade (e) India is the largest commercial energy consumer in no n-OECD Asia. 26. There are various approaches for implementing a corporate code. In this respect, which of the following is/are the approaches recommended by Lickona to help managers address ethical dilemmas in the business world? I.
Use of Socratic questioning of isolate views and confronting reasoning. II. Encouraging open and integrative discussions. III. Eliciting the full rang e of ethical values. IV. Coordination across department in terms of following the same ethical code. (a) Only (I) above (b) Only (IV) above (c) Both (II) and (III) above (d) (I), (II) and (III) above (e) All (I), (II), (III) and (IV) above. 27. In terms of ethical marketing research, which of the following is not an issue/right pertaining to clients? (a) Right to anonymity (b) Right to quality research (c) Protection against misleading presentation of data
(d) Inappropriate use of research techniques (e) Protection against abuse of position. 28. The focus on corporate social responsibility can be traced back to the (a) Indian freedom struggle (b) Early nineteenth century (c) World War II (d) Industrial revolution (e) Depression of the 1930s. 29. Which of the following is not a way of committing fraud in financial statements? (a) Showing fictitious revenues in the books (b) Showing miscellaneous expenses (c) Concealing liabilities and expenses (d) Showing inappropriate timing differences (e) Showing improper disclosures or omissions. 30.
Five R‘s sum up the business responsibilities of corporations towards their consumers. Which of the following is not one of these R‘s? (a) Right benefits (b) Right quality (c) Right quantity (d) Right place (e) Right price True or false:- 1. Business ethics are basically different from personal ethics. 2. Ethical behaviour is not in the long-term interest of businesses. 3. Ethical business practice requires, above all else, an active awareness and consideration of the likely long-term consequence of any action. 4. The business / organisational framework has no influence on ethical behaviour.
5. There is no intrinsic difference between lying, misrepresentation and puffery in advertising. 6. Misrepresentation can occur when a salesperson makes incorrect statements. 7. Everyone agrees that there is only one valid approach to reconciling the wide range of values appealed to in defence of various environmental policy prescriptions: forget the need to attain a unity of value rationales and focus on finding agreement on specific policy recommendations. 8. Non-ecocentric approaches to the environment assume that only individual beings can be the holders of ethical value.
Ecocentrists, in contrast, extend that concept to ecological wholes, like ecosystems, populations, and species. 9. Using natural objects as resources is, per se, of itself, an important ethical issue from the ecocentric perspective. 10. The ethical obligations of a multinational corporation toward employment conditions, human rights, and corruption are always clear-cut. 11. All philosophical approaches to ethics that are adopted by companies are satisfactory and appropriate. 12. Cultural relativism is the belief that ethics are nothing more than the reflection of a culture. 13.