Business Ethics And Corporate Social Responsibility Becsr Set 3
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This set of Business Ethics and Corporate Social Responsibility (BECSR) Multiple Choice Questions & Answers (MCQs) focuses on Business Ethics And Corporate Social Responsibility Becsr Set 3
Q1 | Carroll's model of social responsibility includes the social responsibilities categories of _____________, ____________, and _____________ plus those at the discretion of the firm.
- consumerism; discrimination; environment
- ethical responsibilities; discrimination; legal responsibilities
- ethical responsibilities; legal responsibilities; economic responsibilities
- occupational safety; legal responsibilities; economic responsibilities
Q2 | Who can make regulations under Consumer Protection Act related with the provisions of this act with the prior approval of Central Govt.
- Central Consumer Protection Council
- Ministry of Affairs
- Supreme Court of India
- National Consumer Dispute Redressal Commission
Q3 | 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.
- Right to Safety
- Right to Seek Redressal
- Right to be informed
- Right to consumer education
Q4 | Which of the following statement is False?
- Any business takes inputs from industry, does its processing and provides the outputs to the same society.
- Any business takes inputs from society, does its processing and provides the outputs to the same society.
- Corporate social responsibility activities and programmes are now quite an integral part of organisational objectives.
- 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.
Q5 | The ___________ should get full information about long-term plans, budgets, competitive developments, quarterly results, etc.
- board of directors
- shareholders
- customers
- government
Q6 | What best describes CSR?
- The duty of care a corporation has towards its employees and customers.
- A Corporation's requirement to make as much as profit possible
- 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.
- A Corporation's obligation to consider the impact of its decisions on the environment.
Q7 | #NAME?
- Business ethics
- CSR
- Cultural relativism
- Corporate governance
Q8 | Who is not a consumer under consumer Protection Act?
- Any person who buys any goods for a consideration
- Any person who buys goods and uses them exclusively for the purpose of earning his livelihood by means of self employment.
- Any person who avails services with the approval of hirer
- Any person who obtains goods for resale or commercial purposes.
Q9 | From the point of view of business which one of the following is a reason becauseof which consumer protection is important?
- Dynamic Environment
- Fast Technological Development
- Government intervention
- Competitive Marke
Q10 | Which of the following statements does not represent a market failure, i.e., a situation in which the pursuit of profit will not result in a net increase in consumer satisfaction?
- The costs of pollution, groundwater contamination and depletion, soil erosion and nuclear waste disposal are borne by parties external to the economic exchange between buyer and seller.
- Where there is no mechanism for pricing, for setting a value on, public goods, there is no guarantee that the markets result in the optimal satisfaction of the public interest in regard to public goods.
- Situations in which externalities have been internalized result in an equilibrium in the exchange price between true costs and benefits.
- The pursuit of individual self-interest results in a worse outcome than would have occurred had the behavior of the parties involved in the economic exchange been coordinated through cooperation or regulation rather than mere competition.
Q11 | Which of these are key principles of the code of ethics?
- Objectivity
- Familiarity
- Professional behavior
- A and C
Q12 | If you face an ethical dilemma, what should your first step be in resolving the issue?
- Contact the regulators
- Stay quiet
- Check your facts
- None of the above
Q13 | In which of these areas might you face pressures?
- Working with colleagues from different functional areas within the organization
- Meeting reporting deadlines
- Allocating bonuses
- all of the above
Q14 | Which of these are safeguards for upholding high ethical standards?
- Having written orders to do something
- Companies’ internal codes, policies and education
- Corporate governance regulations
- b and c
Q15 | How does CIMA support its members and students?
- Setting standards and disciplinary process
- Making decisions for them
- Offering helplines globally
- a and c
Q16 | Which principles of ‘adequate procedures’ should be in place to prevent bribery according to the recent UK Bribery Act?
- Top level commitment
- Communication
- Write a document
- a and b
Q17 | The most influential theory of corporate responsibility of the past century is:
- The moral minimum model.
- The classical model.
- The social contract theory.
- The stakeholder theory.
Q18 | The ethical roots of the classical model of corporate social responsibility are found in which statement:
- The idea that the interests of stakeholders are as important as the interests of a corporation's stockholders.
- The free market theory which holds that managers are ethically obliged to take as much money as possible for their stockholders because to do otherwise would undermine the very foundations of our free society.
- The ethical imperative to cause no harm.
- The ethical imperative to prevent harm.
Q19 | According to the private property defense of the classical model of corporate social responsibility, managers who use corporate funds for projects that are not directly devoted to maximizing profits are stealing from their owners. Which statement supports this view?
- Property rights are restricted when they conflict with the basic rules of society as embodied in law and custom.
- The connection between ownership and control that exists for personal property does not legally exist for corporate property.
- Investors buy their stocks with the hope of maximizing return on their investment.
- Stockholders in publicly traded corporations are better understood as investors rather than owners.
Q20 | Which statement is true of Bowie's Kantian approach to business ethics?
- People have a duty both to not cause harm and to prevent harm.
- Both causing no harm and preventing harm override other ethical considerations.
- While it is ethically good for managers to prevent harm or do some good, their duty to stockholders overrides these concerns.
- A narrow interpretation of Bowie's "cause no harm" imperative makes the duties faced by management under the neo-classical model significantly different from the classical model.
Q21 | Select the reasons, historically speaking, why the modern corporation was establishedas a legal entity:
- Social benefits flow from corporate institutions.
- Corporations provide an efficient means for raising large amounts of capital needed to produce and distribute socially desired goods and services.
- Corporations distribute risks widely over large populations, minimizing the risk to any one individual.
- All of the above.
Q22 | Which of the following reasons might a free market economic theorist use to justify the hostile takeover of a company?
- The takeover target company's stock is undervalued. That is evidence that the resources are being inefficiently used.
- The organization seeking to take over the target company will maximize profits for the stockholders and will be serving the public's interests because it is only by satisfying consumer (public) demand that a business can make profits.
- If the takeover target's managers are using their stockholders' money to serve interests other than those of the stockholders, they are stealing from them.
- All of the above.
Q23 | Which of the following statements does not represent a market failure, i.e., a situation in which the pursuit of profit will not result in a net increase in consumer satisfaction?
- The costs of pollution, groundwater contamination and depletion, soil erosion and nuclear waste disposal are borne by parties external to the economic exchange between buyer and seller.
- Where there is no mechanism for pricing, for setting a value on, public goods, there is no guarantee that the markets result in the optimal satisfaction of the public interest in regards to public goods.
- Situations in which externalities have been internalized result in an equilibrium in the exchange price between true costs and benefits.
- The pursuit of individual self-interest results in a worse outcome than would have occurred had the behavior of the parties involved in the economic exchange been coordinated through cooperation or regulation rather than mere competition.
Q24 | Which statement does not support the claim that an unconditioned ethical directive such as the one the classical model of corporate social responsibility demands of business management is inappropriate for utilitarian theory?
- Markets can work to prevent harm only by first-hand experience with harms that have to occur before they can be remedied.
- It is claimed that once market failures are adequately addressed by the government, business just needs to obey the law that addressed them. Business, however, has the ability to inappropriately influence government policy and the law.
- Business has the ability to influence consumers' desires by helping shape those desires through advertising.
- A more precise formulation of a utilitarian- based principle would be to maximize profit whenever doing so produces the greatest good for the greatest number, with the proviso that managers must consider the impact a decision will have in many ways other than merely financial.
Q25 | Which statement does not challenge the notion of a hypothetical social contract between society and corporations?
- If the social contract presupposes an amoral beginning, it seems to offer few guarantees that certain fundamental ethical rights will be protected under the contract.
- Micro-social contracts can be developed within particular local communities that establish the specific ethical rights and responsibilities within that community as long as they fit within the general limitations of the hypernorms governing any and all social contracts.
- It is difficult to specify exactly what responsibilities will be drawn from this hypothetical contract.
- If the theory already begins with certain fundamental rights and responsibilities, then the social contract may be irrelevant to providing an ethical justification for business' responsibilities.