Commerce Accountancy · General Awareness

Business Ethics

777 Questions

Business ethics evaluates moral principles, stakeholder management, and workplace conduct within organizations. Competitive exams test the application of these standards in real scenarios. Understanding these dilemmas builds critical reasoning.

Ethical dilemmas in businessCorporate social responsibilityEngineering and software ethicsStakeholder managementWorkplace conduct standards

Business Ethics Questions

Multiple choice organisation of commerce and management public sector undertakings & global enterprises characteristics, objectives and growth of public sector enterprises public, private and joint sector cooperatives

The principles of right and wrong that are accepted by an individual or organization are what comprise _________ .

  1. brand equity

  2. company image

  3. competitive advantage

  4. value system
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
A coherent set of values adopted and/or evolved by a person, organization, or society as a standard to guide its behavior in preferences in all situations.

 A hierarchy of values that all moral agents possess, demonstrated by their choices. Most people's value systems differ, making the imposition of a singular value system by the state a source of constant social warfare. 

This is an individualistic concept. One's value system is molded by one's virtues or vices.
Multiple choice political science our society marginalisation in india understanding marginalisation challenges and solutions

The act of making a profit by means of the acts that are considered unethical is called __________.

  1. Marketing

  2. Profiteering

  3. Business

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Disproportionately large or grossly unfair profit, generated often through manipulation of prices, abuse of dominant position, or by exploiting a bad or unusual situation such as temporary scarcity. There is usually no governmental control over profiteering unless it involves illegal means.

Multiple choice political science our society marginalisation in india understanding marginalisation challenges and solutions

Pick odd one in the following options ______________.

  1. Black marketing

  2. Hoarding

  3. Profiteering

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Among the given options profiteering is odd because hoarding and black marketing is the illegal handling of goods where as a profiteer is someone who makes unreasonable profit especially during times of emergency like cyclones, floods etc.

Multiple choice elements of business sources of business finance - 1 classification & choice of sources of funds classification of sources of finance owned funds and borrowed funds

Ethics has become the buzzword in the corporate world because of_________.

  1. Globalization

  2. Communications explosion

  3. Explosion

  4. Both (a) & (b)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Ethics has become the buzzword in the corporate world because of both globalization and communications explosion. Globalization refers to the process of integration of world economies into a village economy.

Multiple choice organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

Business people have the skills to solve ___________.

  1. All social problems

  2. Some social problems

  3. No social problems

  4. All economic problems
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Business people are skillful. They have innovative power. They try to comply with the social responsibilities associated to them. But, business people do not have the motivation to solve all social problems as private companies main aim is to maximize profits. Hence, they are only able to solve a few social problems. 

Multiple choice organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept environmental values and ethics industrial pollution accelerated with the start of industrial revolution corporate social responsibility

Ethics is important for _____________.

  1. Top level Management

  2. Middle-level Managers

  3. Non-Managerial Employees

  4. All of the Above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Ethics are basically moral principles that governs a person's behaviour or an activity. When a person follows ethics in his business he becomes successful. Ethics is important in business to keep a proper flow of communication between management and employees. Hence, ethics is important for top management, middle-level managers and non-managerial employees.

Multiple choice organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

Social responsibility is ______________.

  1. Same as legal Responsiblity

  2. Broader than legal Responsibility

  3. Narrower than legal Responsibility

  4. None of the Above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Social responsibility means responsibility of an organisation to make the well-being of the society at large.  Hence, social responsibility is broader than legal responsibility.

Multiple choice organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

Which of the following is capable of doing maximum good to society?

  1. Business success

  2. Laws and regulations

  3. Ethics

  4. Professional management
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Ethics are basically moral principles that governs a person's behaviour or an activity. When a person follows ethics in his business he becomes successful. Hence, ethics is capable of doing good to society.

Multiple choice organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

For stopping the unethical practices at society level ____________ practice should be followed.

  1. Establishment of consumer associations

  2. Consumer awareness programs to be stated

  3. Publish journals on social issues

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

All listed options, including consumer associations, awareness programs, and social journals, are effective methods for addressing unethical practices at the societal level.

Multiple choice organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

The skills that are required for a ethical coach are __________.

  1. Analitical skill

  2. Confidentially skill

  3. Humanatanian skill

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Competence
Coaches will maintain high standards of competence in their work.

Integrity
Coaches will represent themselves in an honest and fair manner, being knowledgeable about their particular competencies and limitations.
Coaches strive to be aware of their own belief systems, values, needs, and limitations and the effect of these on their work. To the extent feasible, they attempt to clarify the roles they are performing for relevant parties, and to function in accord with those roles.

Professional Responsibility
Coaches will uphold standards of ethical conduct that reflect well on the individual coach as well as the profession at large.

Respect for People’s Rights and Dignity
Coaches will treat clients with dignity and respect, being aware of cultural differences, their own cultural background and biases, and the client’s right to autonomy, privacy, and confidentiality.
Coaches accord appropriate respect to the fundamental rights, dignity, and worth of all people. They respect the rights of individuals to privacy, 

confidentiality, self-determination, and autonomy, mindful that legal and other obligations may lead to inconsistency and conflict with the exercise of these rights. Coaches seek to learn more about cultural, individual, and role differences, including those due to age, gender, race, ethnicity, national origin, religion, sexual orientation, disability, language, and socioeconomic status.
Coaches try to eliminate the effect on their work of biases based on those factors, and they do not knowingly participate in or condone unfair or discriminatory practices.
Multiple choice organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

According to W.Wilson______________________.

  1. Business should help others only in that condition when other deserves to help.

  2. Anything that is being done or to be done should be brought to the notice of everyone.

  3. Business should be conducted on the basis of universal value.

  4. One should make proper judgement before doing anything so that there is fair view taken and others do not suffer from any loss or risk of evil by conduct of business.
Reveal answer Fill a bubble to check yourself
B Correct answer
Multiple choice organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

They are concerned about ethics, social responsibility and reputation of the company in which they invest _______________.

  1. Employees

  2. Employers

  3. Investors

  4. Students
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
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.
Multiple choice organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

The four types of social responsibility include _______________________.

  1. Legal, philanthropic, economic and ethical

  2. Ethical, moral, social, and economic

  3. Philanthropic, justice, economic, and ethical

  4. Legal, moral, ethical and economic
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
In general, businesses have a hierarchy of responsibilities to meet, ranging from the basic (making a profit) to the benevolent (benefiting society). Here are some examples:
  • Economic Responsibilities - A business exists to make a profit for shareholders. If it fails to do so, it likely won’t be able to pay its employees, taxes and other obligations. A corporate social responsibility program (CSR program) cannot be implemented until a business is profitable.
  • Legal Responsibilities - Following the law is the foundation of corporate responsibility. A company cannot benefit society if it does not adhere to labor and tax laws or applicable industry regulations.
  • Ethical Responsibilities - Once a company is profitable and meets its legal responsibilities, it can move up the ladder to ethical responsibilities, which might include paying higher wages, offering employees better benefits, avoiding trade with unscrupulous companies or providing jobs to those who would otherwise have difficulty finding work.
  • Philanthropic Responsibilities - As a company meets its economic, legal and ethical responsibilities, it can consider taking on philanthropic responsibilities. Corporate philanthropy ranges in size and scope, and can include everything from donating time to a local charity to building a children’s hospital.
Multiple choice organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

Unethical behaviour is often triggered by ____________________.

  1. Pressure from higher management to achieve goals.

  2. An organizational atmosphere that condones such behaviour.

  3. Both (A) & (B)

  4. A system of checks and balances.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Unethical behavior is often triggered by pressure from higher management to achieve goals.When there is heavy pressure, the employees tend to use unfair means and show unethical behavior. when the organizational atmosphere is not ethical and unethical behavior prevails , then the employees start behaving unethically and take advantage of such situation.