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Business Ethics Interview Questions & Answers - Learning Mode

Business Ethics Interview Questions & Answers - Learning Mode

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.Law often guides business ethics,while other times business ethics provide a basic framework that businesses may choose to follow to gain public acceptance.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.

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Business Ethics Interview Questions & Answers - Learning Mode
Try Business Ethics Interview Questions & Answers - Exam Mode
Question: What is corporate social responsibility?

Answer: CSR may be referred to as "corporate citizenship" and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change. CSR is also referred as a corporation's initiatives to assess and take responsibility for the company's effects on environmental and social well being. The term generally applies to efforts that go beyond what may be required by regulators or environmental protection g Source:
Question: What are the ethical issues in finance?

Answer: The ethical issues in finance that companies and employees are confronted with include:
?In accounting ? window dressing, misleading financial analysis.
?Related party transactions not at arm?s length.
?Insider trading, securities fraud leading to manipulation of the financial markets.
?Executive compensation.
?Bribery, kickbacks, over billing of expenses, facilitation payments.
?Fake reimbursements Source:
Question: What is crisis management?

Answer: Crisis management is the application of strategies designed to help an organization deal with a sudden and significant negative event.It is the process by which an organization deals with a major event that threatens to harm the organization, its stakeholders, or the general public. The study of crisis management originated with the large-scale industrial and environmental disasters in the 1980s. Source:
Question: What are the disadvantages of business ethics?

Answer: 1.Expanding the problem:The code of ethics within a company may be used to expand the problem further than it should be which is a waste of time, money and sometimes employees may leave.
2.Personal Gain: Some employees may use the conducts as a way to prosude a law suite against the company for any minor misbehaviour. Source:
Question: What are the ethical issues in production?

Answer: This area of business ethics deals with the duties of a company to ensure that products and production processes do not cause harm. Some of the more acute dilemmas in this area arise out of the fact that there is usually a degree of danger in any product or production process and it is difficult to define a degree of permissibility, or the degree of permissibility may depend on the changing state of preventative technologies or changing social perceptions of acceptable risk.
?Defective, addic Source:
Question: What do you mean by business ethics?

Answer: Business ethics are moral principles that guide the way a business behaves.The same principles that determine an individual?s actions also apply to business. Acting in an ethical way involves distinguishing between ?right? and ?wrong? and then making the ?right? choice. Source:
Question: What are the issues of ethics faced by HRM?

Answer: Discrimination issues i.e. discrimination on the bases of age, gender, race, religion, disabilities, weight etc.
?Sexual harassment.
?Affirmative Action.
?Issues surrounding the representation of employees and the democratization of the workplace, trade ization.
?Issues affecting the privacy of the employee: workplace surveillance, drug testing.
?Issues affecting the privacy of the employer: whistle-blowing.
?Issues relating to the fairness of the employment contract and the ba Source:
Question: What is the importance of business ethics?

Answer: 1.Creating Credibility
2.Uniting People and Leadership
3.Securing the Society
4.Improving Decision Making
5.Satisfying Basic Human Needs
6.Long Term Gains. Source:
Question: What are the factors influencing business ethics?

Answer: 1.Personal Code of Ethics
2.Social Pressures
3.Government Rules and Regulations
4.Ethical Climate of the Industry
6.Ethical Code of the Company Source:
Question: What are ethical issues in marketing?

Answer: ?Pricing: price fixing, price discrimination, price skimming.
?Anti-competitive practices like manipulation of supply, exclusive dealing arrangements, tying arrangements etc.
?Misleading advertisements
?Content of advertisements.
?Children and marketing.
?Black markets, grey markets. Source:
Question: List the advantages of business ethics.

Answer: 1.Customer satisfaction.
2.Attracting and retaining talent.
3.Positive Work Environment.
4.Avoid Legal Problems.
5.Build Customer Loyalty.
6.Retain Good Employees

Question: What are the various characteristics of business ethics?

Answer: 1.Ancient Concept
2.Study of Goals and Means
3.Greater than Law
4.A Discipline
5.Personal Dignity
6.Different from Social Responsibility
7.Related to Human Aspect Source:


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Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
A advertises to sell his old car by advertising in a newspaper. This offer is caleed: (a) General Offer (b) Special Offer (c) Continuing Offer (d) None of the above
In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
In case of unenforceable contract having some technical defect, parties (a) Can sue upon it (b) Cannot sue upon it (c) Should consider it to be illegal (d) None of the above
If entire specified goods is perished before entering into contract of sale, the contract is (a) Valid (b) Void (c) Voidable (d) Cancelled
______________ contracts are also caled contracts with executed consideration. (a) Unilateral (b) Completed (c) Bilateral (d) Executory
A offers B to supply books @ Rs 100 each but B accepts the same with condition of 10% discount. This is a case of (a) Counter Offer (b) Cross Offer (c) Specific Offer (d) General Offer
_____________ is a game of chance. (a) Conditional Contract (b) Contingent Contract (c) Wagering Contract (d) Quasi Contract
There is no binding contract in case of _______ as one's offer cannot be constructed as acceptance (a) Cross Offer (b) Standing Offer (c) Counter Offer (d) Special Offer
An offer is made with an intention to have negotiation from other party. This type of offer is: (a) Invitation to offer (b) Valid offer (c) Voidable (d) None of the above
When an offer is made to the world at large, it is ____________ offer. (a) Counter (b) Special (c) General (d) None of the above
Implied contract even if not in writing or express words is perfectly _______________ if all the conditions are satisfied:- (a) Void (b) Voidable (c) Valid (d) Illegal
A specific offer can be accepted by ___________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree
An agreement toput a fire on a person's car is a ______: (a) Legal (b) Voidable (c) Valid (d) Illegal
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