Question 1

….......... seeks to determine norms and values

Accepted Answer

Normative science is focused on determining norms and values, guiding what should be rather than what is. It deals with the ideals and ethical standards of a society.

Question 2

….......... are the principles, which govern and guide business people to perform business functions

Accepted Answer

A

Question 3

….......... is the guiding principle for decision making in an economics based view of management

Accepted Answer

Profit maximization is the guiding principle for decision making in an economics based view of management because it assumes that the primary goal of a firm is to maximize its profits.

Question 4

A ……………..is a written document, inspirational in contents and specify clearly what is acceptable or unacceptable behavior at workplace and beyond, when the employees represent their organizations outside.

Accepted Answer

A code of conduct is a written document that outlines the principles, values, standards, or rules of behavior that guide the decisions, procedures, and systems of an organization in a way that contributes to the welfare of its key stakeholders, and respects the rights of all constituents affected by its operations. It often includes what is considered acceptable or unacceptable behavior by employees both within the workplace and in external situations where they represent their organization.

Question 5

….......... specifies methods for reporting violations, disciplinary action for violations and the structure of the due process to be followed

Accepted Answer

A code of ethics specifies methods for reporting violations, disciplinary action for violations, and the structure of the due process to be followed. It serves as a guideline for ethical behavior within an organization.

Question 6

Which among the following are advantages of managing business ethics in the workplace?

Accepted Answer

Managing business ethics in the workplace can lead to strong teamwork and productivity, help avoid criminal acts of omission or commission, and potentially lower fines by ensuring compliance with laws and regulations, thus all of these options are advantages.

Question 7

A ……………..is a buzz word to employees to observe ethical norms and forms the basis for rules of conduct.

Accepted Answer

A code of ethics is a document or set of guidelines that outlines the ethical standards and expectations for employees within an organization, serving as a basis for rules of conduct.

Question 8

….......... would be charged with implementing and administering an ethical management programme.

Accepted Answer

An ethics management committee is typically responsible for implementing and administering an ethical management program within an organization. This committee oversees the development of ethical policies and procedures and ensures their compliance.

Question 9

…......... term includes employees, customers, suppliers and the wider community

Accepted Answer

The term "stakeholder" encompasses a broad range of individuals or groups who have an interest in the activities of a business, including employees, customers, suppliers, and the wider community, unlike "stockholder" which refers specifically to individuals or entities that own shares in a company.

Question 10

Ethics in workplaces can be managed through the use of

Accepted Answer

Codes of ethics, codes of conduct, and roles of ethics are all tools that can be used to manage ethics in workplaces.

Quiz 5: Corporate Ethics and Management: Understanding Norms and Values in Business Functions and Decision Making Processes