Business Ethics Advanced Experienced Freshers Interview Questions Answers
Define Business Ethics?
Business ethics is the study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities.
What Are The Advantages Of Business Ethics?
Business ethics offer companies a competitive advantage. Consumers learn to trust ethical brands and remain loyal to them, even during difficult periods.
Society benefits from business ethics because ethical companies recognize their social responsibilities.
Whose Responsibility Is Business Ethics?
Everyone’s, but it starts at the top. Senior management should walk the talk by modeling, communicating, and enforcing its expectations and commitment to ethical decision-making – not only to its employees but to its clients, customers, shareholders, and community.
What Makes An Ethics Code Effective?
It must be inclusive (everyone participates, from senior management on down).
It must be valid (content is consistent with standard ethical principles).
It must be authentic (policies are enforced and values are reinforced in both word and deed).
What Sustains An Ethics Code?
It’s specific. Guidelines are explained clearly using common scenarios.
It’s thought-provoking. Employees are taught how to analyze situations and make good choices.
It’s clear. Legalese, vagueness, jargon, and platitudes are absent. Instead of saying “Avoid improper use of equipment,” explain precisely what is meant with examples and unambiguous language.
It’s readable. One should not need a user’s guide to wade through its provisions. Improve readability with wide margins, large type, breakout quotes, tight editing, and accurate proofreading.
It’s concise. The entire U.S. Constitution is shorter than many ethics codes. Avoid complex sentences. Translate dense, multifaceted paragraphs into bulleted or numbered lists.
It’s realistic. “Absolutely no personal phone calls” is unreasonable. “Accept no gifts or gratuities” is vague.
It’s enforceable. All provisions should adhere to union agreements, city or government mandates, departmental regulations, Constitutional rights, etc. Implement a process for receiving complaints and investigating charges.
It’s flexible. Codes should be regularly put to the test. Make changes as needed.
It’s a process. Most employee cynicism stems from senior management flouting ethical rules. A code’s value is not its prose but the commitment of those who implement it.
What Are The Disadvantages Of Business Ethics?
Business ethics reduce a company's freedom to maximize its profit.
For example, a multinational company may move its manufacturing facility to a developing country to reduce costs. Practices acceptable in that country, such as child labor, poor health and safety, poverty-level wages and coerced employment, will not be tolerated by an ethical company. Improvements in working conditions, such as a living wage and minimum health and safety standard,s reduce the level of cost-savings that the company generates. However, it could be argued that the restrictions on company freedom benefit wider society.
What Is The Definition Of Business Practices?
A method, procedure, process, or rule employed or followed by a company in the pursuit of its objectives. Business practice may also refer to these collectively.
What Is Ethical Behaviour In A Business Environment?
Acting in ways consistent with what society and individuals typically think are good values. Ethical behavior tends to be good for business and involves demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity and individual rights.
What Is The Journal Of Business Ethics?
The Journal of Business Ethics is a peer-reviewed academic journal published by Springer Science+Business Media covering methodological and disciplinary aspects of ethical issues related to business, including systems of production, consumption, marketing, advertising, social and economic accounting, labor relations, etc.,
What Are The Ethics Of Business?
Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.
What Is The Need Of Business Ethics?
Ethics concern an individual's moral judgements about right and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company.
What Is The Importance Of Business Ethics?
The importance of ethics in business. Ethics concern an individual's moral judgements about right and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company.
What Are The Principles Of Business Ethics?
honesty.
integrity.
promise-keeping.
fairness.
loyalty.
caring.
law abiding.
What Are The Ethics Of Research?
Research that involves human subjects or participants raises unique and complex ethical, legal, social and political issues. Research ethics is specifically interested in the analysis of ethical issues that are raised when people are involved as participants in research. There are three objectives in research ethics.
What Is The Social Responsibility Of Business?
Social responsibility is an ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems.
What Is The Meaning Of Social Ethics?
The meaning of social ethics is a set of rules or guidelines, based around ethical choices and values, that society adheres to. Many of these rules are often unspoken and instead expected to be followed.
What Does It Mean For A Business To Be Ethical?
Business ethics is the study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities.
What Are Core Values?
If an organisation wants to take ethics seriously, it needs to identify the core values or principles to which it wishes to be committed and held accountable. It then needs to translate those values into guidance for all employees so that they are helped with discretionary decisions i.e. when there are no rules or when facing an ethical dilemma. These form the foundation for a set of corporate ethical commitments and the organisation's approach to corporate responsibility.
Commonly used value words found in introductions/preambles to codes of ethics include: responsibility, integrity, honesty, respect, trust, openness, fairness and transparency. Organisations may also articulate a set of business values, such as quality, profitability, efficiency, reliability and customer service.
What Are Some Examples Of Business Ethics Issues?
Some of the key issues addressed in current codes of business ethics are bribery & corruption; gifts & hospitality; use of social media, conflicts of interest; diversity; health and safety, environmental stewardship and political donations & lobbying.
According to IBE/MORI research published in October 2013, the three major areas of public concern are corporate tax avoidance (37%), executive pay (30%) and employees being able to speak out about company wrongdoing (22%). . Bribery and corruption (20 %) and discrimination (20%) also cause the public concern.
What Are Ethical Dilemmas?
An ethical dilemma involves a situation that makes a person question what the 'right' thing to do is. Ethical dilemmas make individuals think about their obligations, duties or responsibilities. It is through a dilemma that most employees experience business ethics.
These dilemmas can be highly complex and difficult to resolve. Complex ethical dilemmas involve a decision between right and right (choosing between right or wrong should not be a dilemma!). An example might be where you uncover a friend's misdemeanour: You have a duty to your employer to report it, but also a duty to be loyal to your friend in a situation that could lead to his or her dismissal.
Define Business Ethics?
Business ethics is the study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities.
What Are The Advantages Of Business Ethics?
Business ethics offer companies a competitive advantage. Consumers learn to trust ethical brands and remain loyal to them, even during difficult periods.
Society benefits from business ethics because ethical companies recognize their social responsibilities.
Whose Responsibility Is Business Ethics?
Everyone’s, but it starts at the top. Senior management should walk the talk by modeling, communicating, and enforcing its expectations and commitment to ethical decision-making – not only to its employees but to its clients, customers, shareholders, and community.
What Makes An Ethics Code Effective?
It must be inclusive (everyone participates, from senior management on down).
It must be valid (content is consistent with standard ethical principles).
It must be authentic (policies are enforced and values are reinforced in both word and deed).
What Sustains An Ethics Code?
It’s specific. Guidelines are explained clearly using common scenarios.
It’s thought-provoking. Employees are taught how to analyze situations and make good choices.
It’s clear. Legalese, vagueness, jargon, and platitudes are absent. Instead of saying “Avoid improper use of equipment,” explain precisely what is meant with examples and unambiguous language.
It’s readable. One should not need a user’s guide to wade through its provisions. Improve readability with wide margins, large type, breakout quotes, tight editing, and accurate proofreading.
It’s concise. The entire U.S. Constitution is shorter than many ethics codes. Avoid complex sentences. Translate dense, multifaceted paragraphs into bulleted or numbered lists.
It’s realistic. “Absolutely no personal phone calls” is unreasonable. “Accept no gifts or gratuities” is vague.
It’s enforceable. All provisions should adhere to union agreements, city or government mandates, departmental regulations, Constitutional rights, etc. Implement a process for receiving complaints and investigating charges.
It’s flexible. Codes should be regularly put to the test. Make changes as needed.
It’s a process. Most employee cynicism stems from senior management flouting ethical rules. A code’s value is not its prose but the commitment of those who implement it.
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| Business Ethics Advanced Experienced Freshers Interview Questions Answers |
Business ethics reduce a company's freedom to maximize its profit.
For example, a multinational company may move its manufacturing facility to a developing country to reduce costs. Practices acceptable in that country, such as child labor, poor health and safety, poverty-level wages and coerced employment, will not be tolerated by an ethical company. Improvements in working conditions, such as a living wage and minimum health and safety standard,s reduce the level of cost-savings that the company generates. However, it could be argued that the restrictions on company freedom benefit wider society.
What Is The Definition Of Business Practices?
A method, procedure, process, or rule employed or followed by a company in the pursuit of its objectives. Business practice may also refer to these collectively.
What Is Ethical Behaviour In A Business Environment?
Acting in ways consistent with what society and individuals typically think are good values. Ethical behavior tends to be good for business and involves demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity and individual rights.
What Is The Journal Of Business Ethics?
The Journal of Business Ethics is a peer-reviewed academic journal published by Springer Science+Business Media covering methodological and disciplinary aspects of ethical issues related to business, including systems of production, consumption, marketing, advertising, social and economic accounting, labor relations, etc.,
What Are The Ethics Of Business?
Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.
Ethics concern an individual's moral judgements about right and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company.
What Is The Importance Of Business Ethics?
The importance of ethics in business. Ethics concern an individual's moral judgements about right and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company.
What Are The Principles Of Business Ethics?
honesty.
integrity.
promise-keeping.
fairness.
loyalty.
caring.
law abiding.
What Are The Ethics Of Research?
Research that involves human subjects or participants raises unique and complex ethical, legal, social and political issues. Research ethics is specifically interested in the analysis of ethical issues that are raised when people are involved as participants in research. There are three objectives in research ethics.
What Is The Social Responsibility Of Business?
Social responsibility is an ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems.
What Is The Meaning Of Social Ethics?
The meaning of social ethics is a set of rules or guidelines, based around ethical choices and values, that society adheres to. Many of these rules are often unspoken and instead expected to be followed.
What Does It Mean For A Business To Be Ethical?
Business ethics is the study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities.
What Are Core Values?
If an organisation wants to take ethics seriously, it needs to identify the core values or principles to which it wishes to be committed and held accountable. It then needs to translate those values into guidance for all employees so that they are helped with discretionary decisions i.e. when there are no rules or when facing an ethical dilemma. These form the foundation for a set of corporate ethical commitments and the organisation's approach to corporate responsibility.
Commonly used value words found in introductions/preambles to codes of ethics include: responsibility, integrity, honesty, respect, trust, openness, fairness and transparency. Organisations may also articulate a set of business values, such as quality, profitability, efficiency, reliability and customer service.
What Are Some Examples Of Business Ethics Issues?
Some of the key issues addressed in current codes of business ethics are bribery & corruption; gifts & hospitality; use of social media, conflicts of interest; diversity; health and safety, environmental stewardship and political donations & lobbying.
According to IBE/MORI research published in October 2013, the three major areas of public concern are corporate tax avoidance (37%), executive pay (30%) and employees being able to speak out about company wrongdoing (22%). . Bribery and corruption (20 %) and discrimination (20%) also cause the public concern.
What Are Ethical Dilemmas?
An ethical dilemma involves a situation that makes a person question what the 'right' thing to do is. Ethical dilemmas make individuals think about their obligations, duties or responsibilities. It is through a dilemma that most employees experience business ethics.
These dilemmas can be highly complex and difficult to resolve. Complex ethical dilemmas involve a decision between right and right (choosing between right or wrong should not be a dilemma!). An example might be where you uncover a friend's misdemeanour: You have a duty to your employer to report it, but also a duty to be loyal to your friend in a situation that could lead to his or her dismissal.