influence than individual factors. Today, how we do what we do more than what we do determines whether or not we survive and thrive. Improving Performance. useful for studying and practicing business ethics? 22.s corporate governance “costly”?7 I 23. motivation. for managers in a global economy. Philanthropic responsibilities: desired by society. proposal. 250+ Corporate Governance And Business Ethics Interview Questions and Answers, Question1: What's the board's role in corporate governance and how does that differ from management's role? d. Creditors. Ethical An action is right or wrong, these theories suggest, not because we like the consequences they lee_jssc_83584. These short solved questions or quizzes are provided by Gkseries. countries preventing business from testing their products on animals, an issue which many feel strongly about. blame. It’s important to think through all potential implications – ntentional and unintentional – of executive rewards to make sure the board is encouraging people to take risks intelligently. Executive teams who are working to execute strategies, especially in challenging economic times, need their board to be aligned behind a flexible model that’s able to shift based on business needs. (3) The Dutch multinational Heineken has beer breweries all over the world. Defining organizational values and encouraging employee commitment to certain ethical aspirations this does not mean that one will necessarily move onto the next stage. room for new crops, and to provide timber to fuel the heaters used to dry the tobacco leaf following harvest. making the decisions, not ‘the corporation’. Subject:Business Ethics and Corporate Governance. 69% average accuracy. Therefore I assume their personal values, personal integrity and moral Proponents of the Chicago School would argue yes, because the shareholder is the focus of the model, whereas proponents of the stakeholder model would argue no, because the shareholder is only one of many stakeholders to whom the corporation is accountable. Identifying risks organizing for business ethics management, it is important to also consider the ethical culture of the organization! Choose your answers to the questions and click 'Next' to see the next set of questions. management? Risk oversight should not be viewed as a process unto itself — it’s the foundation for everything the board and management do to properly govern the organization and make sound decisions. Individual = bad apple A focus on what the board can do better in the future should be the core of the assessment, not simply an afterthought to address gaps in past performance. Preventing, detecting, and punishing violations of the law Internal and external pressure (1) Enlightened self-interest is when to corporation takes on social responsibilities insofar as doing so promotes its Companies engage in social accountability because: Q2. The whole notion of sustainability is critically important. Corporate Governance & Business Ethics Chapter Exam Instructions. Elie Wiesel has dedicated himself to the idea of defending and living by ethical principles and values no matter how unpopular or dangerous. Example: In North-America, where unlike in Europe, a consistent regulatory framework for climate change has yet Descriptive business ethics seek to describe how ethical decisions are actually made in business, and what We help companies ensure they pursue their business endeavors in a principled way, day in and day out and in every corner of the world. many cases there is still a close connection between the local culture, including moral values, and a each stage? .hy should corporate governance matter to SMEs?5 W 19.o international corporate governance standards 6 D apply to emerging markets? justified, and explained to relevant stakeholders. Risk oversight should not be viewed as a process unto... Q2. Home » Corporate Governance And Business Ethics Questions » 300+ TOP Corporate Governance And Business Ethics Interview Questions and Answers. 9 months ago. codification of ethics into specific social rules, regulations and restrictions. SURVEY . The goal of corporate governance and business ethics … The more economic activities get deterritorialized, the less governments can control them, and the less The latter includes setting risk appetite and risk tolerances, and monitoring strategic risks and related trends. (2) Globalization as defined in terms of deterritorialization of economic activities is particularly relevant for relativism proposes that both sets of beliefs can be equally right. This year marks the 20th anniversary of the prize, and we are planning several special elements to the prize in recognition of the Foundation’s great work. Q14. be liked by your colleagues can influence a decision. Similarly, the board should also understand how incentive programs implemented throughout the organization may influence the risk culture below the C-Suite. Still, finding the right balance can be difficult. Access to Capital. Question3: Can you tell us a little bit about LRN's mission? Secondly, all phases of tobacco production have the potential to contribute to climate change, from farming to How Can Companies Evaluate The Board’s Effectiveness? more likely to engage in whistle-blowing behaviour. The stages are intended to be conceptually distinct, such that although one might reach one stage in the model, GOVERNANCE ETHICS AND SOCIAL RESPONSIBILITY B.COM (HONOURS) THIRD YEAR MULTIPLE CHOICE QUESTIONS Q1. (1) What is sustainability? influences the process and outcomes of those decisions. Save. kind, although some EU countries such as Germany and France religion), while ethical Ethical responsibilities: expected by society. A well-designed assessment can give you a read on the board’s performance in each area of responsibility — strategy, performance, risk, and more. "sustainable". Customers and employees can see whether we’re keeping our promises to them. 3. programmes, In Europe common, in US uncommon (e.g. The reduction of corporate governance to maximizing shareholder value is not only wrong in principle; in practice it has led to dramatic failures, such as the recent and ongoing global financial crisis. Notes made during the lectures of Corporate Governance and Business Ethics. the decision is reached. Most companies not yet developed an integrated approach to risk Developing Capital Markets. Ethical pluralism occupies a middle ground between absolutism and relativism. Assess the relative benefits and drawbacks of different approaches to ethics management. Ethics education and training Therefore the "oil company" really only gets part of the So yes, an "oil company" can be more sustainable, but it's really more about can society as a whole get more C) Yes. (2) Corporations cause social problems (such as pollution), and hence have a responsibility. Why Are Ethical Business Practices So Important In Today’s Society? Does the board meet basic regulatory requirements? and ethics. Apple admitted that its suppliers used underage workers, a practice Apple has been However, they are recommend that an organization emphasized a formal or informal approach to business ethics What’s The Board’s Role In Corporate Governance And How Does That Differ From Management’s Role? Legal: if business ethics largely begins where the law ends, then deterritorialization increases the demand which they are likely to be used in large versus small companies. Mainly because employees of civil society organizations are working there for a understanding of ethical decision-making in organizations. In Cultural learning Copyright 2020 , Engineering Interview Questions.com, on 300+ TOP Corporate Governance And Business Ethics Interview Questions and Answers, Corporate Governance And Business Ethics Questions. For practical purposes of making effective decisions in business, both of these positions are not particularly useful. activities and impacts on social, ethical, and environmental issues relevant to stakeholders. social considerations.. A) No. I believe we, along with our leaders and institutions, need to apply this same discipline. leader. A) Tobacco industry, B) Oil industry, C) Car industry. We are helping companies and their leaders build enduring legacies by utilizing principles as the foundation to how they do what they do. addition, driving on the right side of the road is a law but it is not seen as an ethical issue. Ethical absolutism assumes that there are eternal, universally applicable moral principles and right and wrong are Define Business Ethics? Customers. Business Ethics and Corporate Governance - Sanjay and Jason Case Study - Management Assignment Help. You can only expect so much from an oil company - or any company! now have ethics or CSR committee. These short objective type questions with answers are very important for competitive exams like IBPS, Railway, CAT etc. Suppliers. Suppliers. will positively influence your business; increased productivity, greater customer loyalty, positive brand image, Values orientation is the most effective single orientation for encouraging ethical behaviour.