Question 1

"Renewing" in Business Transformation Model is associated with........ of the organisation.
A)Mind
B)Body
C)Spirit
D)Environment

Accepted Answer

"Renewing" in the Business Transformation Model is associated with the "spirit" of the organization. This aspect focuses on revitalizing the organization's culture, values, and purpose to align with its strategic vision and goals.

Question 2

Social Progress Indicators for Society are………….
A)Access to Education
B)Supportive Government Policies
C)Political Democracy
D)Quality Education

Accepted Answer

D

Question 3

Identify the External factors that demand for Organisational Transformation.
A)Employee Turnover Ratio
B)Social Changes
C)Changing behaviour and Values of work force
D)Deficiencies in the existing organisational structure

Accepted Answer

Social changes are external factors that can demand organizational transformation as they influence the market dynamics, consumer preferences, and overall societal expectations towards businesses.

Question 4

The Top Management of company starts the Transformation Process with the "Creation of a Vision" that is shared by everybody in the company. Shared vision consists of all except...........
A)Shared Values
B)Shared Purposes
C)Shared Results
D)Shared Relationships

Accepted Answer

Shared vision typically includes shared values, purposes, and results, but not shared relationships. Relationships are more about how people interact rather than the vision itself.

Question 5

What are the three Phases of Transformation?
A)Automation, Enhancement, Redefinition
B)Automation, Reevaluation, Redefinition
C)Reevaluation, Redefinition, Implementation
D)Discontinuing, Replanning, Reshaping

Accepted Answer

The three phases of transformation typically include Automation, Enhancement, and Redefinition. These phases represent a progression from using technology to automate existing processes, to enhancing these processes with new capabilities, and finally to redefining entirely new processes or ways of working that were not possible before the technological intervention.

Question 6

Identify the Principle(s) of achieving competitive success in business.
A)Focus on Short Term Rewards first and then consider Long term rewards
B)Focus on constant and never ending improvement
C)Always focus on Profit first then on service
D)Set Realistic Goals and Expectations

Accepted Answer

Focus on constant and never ending improvement is a key principle of achieving competitive success in business.

Question 7

Which of the following statements is false about responsibilities of a consumer:
A)Consumer must follow the instructions and use the product safety.
B)Consumer must ask for cash memo i.e proof of purchase
C)Consumer must file a complaint in a consumer court even if the amount of loss is small.
D)A consumer must encourage unethical practices like black marketing, hoarding etc.

Accepted Answer

Consumers are not obligated to file a complaint in a consumer court for every small loss; they can choose to do so based on the significance of the issue.

Question 8

The ethical roots of the classical model of corporate social responsibility are found in which of the following statement?
A)The idea that the interests of stakeholders are as important as the interests of a corporation's stockholders.
B)The ethical imperative to cause no harm.
C)The free market theory which holds that managers are ethically obliged to make as much money as possible for their stockholders because to do otherwise would undermine the very foundations of our free society
D)The ethical imperative to prevent harm

Accepted Answer

The classical model of corporate social responsibility is rooted in the free market theory, which emphasizes the ethical obligation of managers to maximize profits for stockholders.

Question 9

Which of he following is a standardised approach to Corporate Sustainability Reporting?
A)GRI
B)Universal Declaration of Human Rights
C)UNHCR Global Pact
D)UN Global Compact

Accepted Answer

The Global Reporting Initiative (GRI) is a widely recognized standardized framework for corporate sustainability reporting.

Question 10

Who can make regulations under Consumer Protection Act related with the provisions of this act with the prior approval of Central Govt.
A)Central Consumer Protection Council
B)Ministry of Affairs
C)Supreme Court of India
D)National Consumer Dispute Redressal Commission

Accepted Answer

The answer of Who can make regulations under Consumer Protection...

Question 11

The Consumer Protection Act provides relief to customers such as replacement of product, removal of defect in the product, compensation for any loss or injury suffered by the consumer. Which consumer right has been highlighted in this statement.
A)Right to Safety
B)Right to Seek Redressal
C)Right to be informed
D)Right to consumer education

Accepted Answer

The statement highlights the "Right to Seek Redressal," which is a consumer right allowing consumers to seek a remedy for grievances, obtain compensation for damages, or get a defective product replaced or repaired.

Question 12

Which of the following statement is False?
A)Any business takes inputs from industry, does its processing and provides the outputs to the same society.
B)Any business takes inputs from society, does its processing and provides the outputs to the same society.
C)Corporate social responsibility activities and programmes are now quite an integral part of organisational objectives.
D)Social responsibilities refer to business man's decisions and actions taken for reasons at least partially beyond the firm's direct economic or technical interest.

Accepted Answer

Option A is false because it inaccurately states that businesses take inputs from industry rather than society. Businesses actually take inputs from society (resources, labor, etc.), process these inputs, and provide outputs (products or services) back to society, making option B the accurate description of this process. Options C and D correctly describe aspects of corporate social responsibility and the broader motivations behind business decisions, respectively.

Question 13

The ___________ should get full information about long-term plans, budgets, competitive developments, quarterly results, etc.
A)board of directors
B)shareholders
C)customers
D)government

Accepted Answer

The board of directors should be fully informed about the company's long-term plans, budgets, competitive developments, and quarterly results to effectively oversee and guide the organization's strategic direction.

Question 14

What best describes CSR?
A)The duty of care a corporation has towards its employees and customers.
B)A Corporation's requirement to make as much as profit possible
C)A Corporation's obligation to society that goes the requirements of law economics to take into account the social and environmental impact of its decisions.
D)A Corporation's obligation to consider the impact of its decisions on the environment.

Accepted Answer

CSR (Corporate Social Responsibility) refers to a corporation's obligation to consider the broader social and environmental impact of its decisions, beyond just legal and economic requirements. This includes how the company interacts with its employees, customers, and the environment, aiming to contribute positively to society.

Question 15

------ may be defined as the enhancement of long-term shareholders while at the same time protecting the interests of other stakeholders.
A)Business ethics
B)CSR
C)Cultural relativism
D)Corporate governance

Accepted Answer

Corporate governance is concerned with balancing the interests of a company's many stakeholders, such as shareholders, management, customers, suppliers, financiers, government, and the community.

Question 16

From the point of view of business which one of the following is a reason because of which consumer protection is important?
A)Dynamic Environment
B)Fast Technological Development
C)Government intervention
D)Competitive Marke

Accepted Answer

Consumer protection is important in a competitive market because it helps businesses build trust and loyalty with consumers, ensuring fair practices and preventing exploitation.

Question 17

Which is not one of the natures of ethics?
A)Focus on human values
B)Social work
C)Branch of philosophy
D)Applies moral principles

Accepted Answer

Ethics is fundamentally concerned with human values, moral principles, and is a branch of philosophy. It does not specifically equate to social work, although ethical considerations can inform social work practices.

Question 18

Actions or policies should be evaluated on the basic of producing greater good in the society" is the fundamental of which moral theory?
A)Utilitarian theory
B)Theory of justice
C)Ethics of care
D)Theory of rights

Accepted Answer

Utilitarian theory is centered on the principle that the best action or policy is the one that maximizes utility, typically defined as that which produces the greatest well-being of the greatest number of people. This aligns with the statement about evaluating actions or policies based on their ability to produce a greater good in society.

Quiz 8: Business Transformation, Social Progress, Change Process

"Renewing" in Business Transformation Model is associated with........ of the organisation.

Social Progress Indicators for Society are………….

Identify the External factors that demand for Organisational Transformation.

The Top Management of company starts the Transformation Process with the "Creation of a Vision" that is shared by everybody in the company. Shared vision consists of all except...........

What are the three Phases of Transformation?

Identify the Principle(s) of achieving competitive success in business.

Which of the following statements is false about responsibilities of a consumer:

The ethical roots of the classical model of corporate social responsibility are found in which of the following statement?

Which of he following is a standardised approach to Corporate Sustainability Reporting?

Who can make regulations under Consumer Protection Act related with the provisions of this act with the prior approval of Central Govt.

The Consumer Protection Act provides relief to customers such as replacement of product, removal of defect in the product, compensation for any loss or injury suffered by the consumer. Which consumer right has been highlighted in this statement.

Which of the following statement is False?

The ___________ should get full information about long-term plans, budgets, competitive developments, quarterly results, etc.

What best describes CSR?

------ may be defined as the enhancement of long-term shareholders while at the same time protecting the interests of other stakeholders.

From the point of view of business which one of the following is a reason because of which consumer protection is important?

Which is not one of the natures of ethics?

Actions or policies should be evaluated on the basic of producing greater good in the society" is the fundamental of which moral theory?