Tag: organization of commerce and management

Questions Related to organization of commerce and management

Government gives awards for ethics shown by business people. The name of the award is ______________________.

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. Indira Gandhi Paryavaran Puraskar

  2. Indira Gandhi Literacy Puraskar

  3. Rajeev Gandhi Paryavaran Puraskar

  4. Mahatma Gandhi Paryavaran Puraskar

Show answer
Correct Option: A

Which statement is false?

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. Fewer and fewer companies are adopting codes of ethics.

  2. More and more companies are adopting codes of ethics.

  3. Some ethical responses can be learned through experience.

  4. Social responsibility involves providing quality products and pricing products fairly.

Show answer
Correct Option: A
Explanation:

Ethics or moral philosophy is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. The field of ethics, along with aesthetics, concern matters of value, and thus comprise the branch of philosophy so in today's dynamic environment every small medium or large companies are adopting codes of ethics.

Invariably businesses have unethical practice because of ___________.

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. the stringent and rigid government policies

  2. fear of taxation

  3. greed

  4. none of the above

Show answer
Correct Option: A

The issue of fraudulent asset valuation is included in _________.

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. ethics in compliance

  2. ethics in finance

  3. ethics in marketing

  4. ethics in production

Show answer
Correct Option: B
Explanation:
“Ethics in Finance” will address the professional intersection where financial theory meets practice and where the concept of ethical behavior crosses from the abstract to the concrete. 
Issue of fraudulent asset valuation is an example of unethical practice in finance. This is the most common ethical issue which companies and individual face in the field of finance.

The primary responsibility of a business is towards ________.

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. employees

  2. owner

  3. banker

  4. employer

Show answer
Correct Option: A
Explanation:

Primary responsibility of business is towards their employee as they are the most important asset (Human resource) who invest their efforts in favor of the company to better its position. Without employees company cant run.

Which one of the following is a measure to improve ethical behavior of business at societal level?

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. Indira Gandhi Paryavarari Puraskar

  2. Mumbai Grahak Panchayat

  3. Ethical Committee comprising BOD

  4. All of the above

Show answer
Correct Option: B
Explanation:

Mumbai Grahak Panchayat $(MGP)$ is perhaps the largest voluntary consumer organisation in India with a membership of 24,500 families. It has been engaged in activities of consumer protection and education for the last 33 years. Its unique collective group buying system provides a best practice model for sustainable consumption.

Which of the following Acts made code of ethics mandatory for companies listed on the stock exchange?

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. Companies Act, $2006$

  2. Sarbanes- Oxley Act, $2002$

  3. Limited Liability Partnership Act, '$2008$

  4. None of the above

Show answer
Correct Option: B
Explanation:
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.

The idea of business ethics caught the attention of academics, media and business firms by the end of __________.

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. First World War

  2. Second World War

  3. Cold war

  4. None of the above

Show answer
Correct Option: C
Explanation:

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. Eventually, 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.

Providing information to law enforcement or regulatory agencies about illegal or improper activities of business or by its employees is known as _______.

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. ethical wrong

  2. whistle blowing

  3. ethical dilemma

  4. ethical wonder

Show answer
Correct Option: B
Explanation:
A whistle-blower is a person who publicly complains about concealed misconduct on the part of an organization or a body of people, usually from within that same organisation. This misconduct may be classified in many ways, for example, a violation of a law, rule, regulation and/or a direct threat to the public interest, such as fraud, health/safety violations, and corruption.

Whistle-blowers frequently the face retaliation - sometimes from the organisation or the group which they have accused of, unless a system is in place that would ensure confidentiality. In addition, people are more likely to take action with respect to unacceptable behavior within an organization, if there are complaint systems that ensure confidentiality and indemnity. 

Which one of the following is not the primary element of a strong organizational compliance program?

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. A written code of conduct

  2. An ethics officer

  3. Significant financial expenditures

  4. A formal ethics training program

Show answer
Correct Option: C
Explanation:

Elements of business ethics 
1. The first element is a strong code of ethics.
2. The second key element to a solid ethics foundation is ethics training.
3. The third key element to a strong ethics foundations is an "ethics coach".


Thus significant financial expenditure is not the key element of business ethics.