BUSINESS ETHICS
Table of Contents
VERY SHORT ANSWER QUESTIONS – [2 MARKS]
[2023 Fall Q. No. 5] [2021 Fall Q. No. 4] Give the concept of whistle blowing.
Answer: Whistle-blowing is the act of exposing wrongdoing, unethical behavior, or illegal activities within an organization by an employee or insider. It helps protect the organization and society from harm by promoting transparency and accountability.
[2023 Fall Q. No. 6] List out the different causes of ethical problem.
Answer: Causes of ethical problem are:
- Greed and self-interest
- Pressure to meet targets
- Poor leadership
- Lack of clear policies
[2023 Spring Q. No. 6] What are the core elements of ethical character?
Answer: The core elements of ethical character are:
- Integrity
- Responsibility
- Respect
- Fairness
- Compassion
[2023 Spring Q. No. 7] What do you mean by conflict of interests? Given an example.
Answer: A conflict of interest occurs when personal interests clash with professional duties, leading to biased decisions.
Example: A manager awards a contract to a friend’s company instead of choosing the best supplier.
[2023 Spring Q. No. 10] What is Whistle Blowing? How can whistle blowers be protected and encouraged?
Answer: Whistle-blowing is the act of exposing wrongdoing within an organization. To protect and encourage whistle-blowers:
- Safe Reporting Channels: Provide anonymous and confidential ways to report issues.
- Protection from Retaliation: Ensure whistle-blowers are not punished or harassed for speaking up.
- Legal Support: Offer legal assistance to whistle-blowers if needed.
- Cultural Support: Foster a culture where ethical behavior is valued and whistle-blowing is seen as a positive act.
[2022 Fall Q. No. 6] Should Whistle Blowing be encouraged in organization? Why?
Answer: Yes, whistle-blowing should be encouraged because it promotes transparency, accountability, and ethical behavior within organizations. It helps prevent harm to stakeholders, protects the organization’s reputation, and ensures compliance with laws and regulations. Encouraging whistle-blowing creates a culture of integrity and trust.
[2022 Fall Q. No. 8] Point out any two importance of ethical audit.
Answer: An ethical audit is important because:
- It identifies unethical practices and risks within an organization.
- It ensures compliance with legal and ethical standards.
[2021 Spring Q. No. 4] Illustrate whistle blowing with its types.
Answer: Types of Whistle-Blowing are:
- Internal: Reporting to someone within the organization (e.g., manager or HR).
- External: Reporting to outside authorities (e.g., media, regulators).
[2021 Spring Q. No. 6] Give the concept of ethical audit.
Answer: An ethical audit is a systematic review of an organization’s practices, policies, and procedures to ensure they align with ethical standards and values. It helps identify areas of improvement and ensures compliance with legal and moral obligations.
[2021 Fall Q. No. 5] Explain ethic audit. Why it is important?
Answer: An ethical audit is important because it:
- Enhances the organization’s reputation and credibility.
- Identifies unethical practices and risks..
[2021 Fall Q. No. 10] What is code of ethics?
Answer: A code of ethics is a set of guidelines that outline the ethical principles and values an organization expects its employees to follow. It serves as a framework for decision-making and ensures that employees act in a manner consistent with the organization’s values.
[2020 Fall Q. No. 5] Differentiate between descriptive ethics and normative ethics.
Answer: Descriptive vs. Normative Ethics:
Descriptive Ethics: Describes how people behave and what they believe is right or wrong. It is based on observations and facts.
Normative Ethics: Prescribes how people should behave based on moral principles and values. It focuses on defining ethical standards.
[2020 Fall Q. No. 8] List out the principles of the UN Global Compact.
Answer: The UN Global Compact is based on ten principles, including:
- Human rights
- Labor standards
- Environmental protection
- Anti-corruption
[2020 Fall Q. No. 9] Write two examples of cross-cultural contradictions that create ethical problems in business in Nepal.
Answer: Two examples of cross-cultural contradictions in Nepal are:
- Punctuality vs. Relationships: Western businesses prioritize strict deadlines, while Nepali culture values relationships over time.
- Hierarchy vs. Informality: Foreign companies may enforce strict hierarchies, conflicting with Nepal’s more informal workplace culture.
[2019 Spring Q. No. 10] Interpret the term ‘business ethics’ or corporate ethics.
Answer: Business ethics refers to the moral principles and values that guide the behavior of a company and its employees. It ensures fairness, honesty, and responsibility in business practices, benefiting both the organization and society.
[2018 Spring Q. No. 7] What is ethical reasoning?
Answer: Ethical reasoning is the process of thinking through moral issues to determine what is right or wrong. It helps individuals and organizations make fair and responsible decisions based on ethical principles.
[2018 Spring Q. No. 8] Explain the ethics audit in brief.
Answer: An ethics audit is a systematic review of an organization’s practices to ensure they align with ethical standards and legal requirements. It helps identify unethical practices, improve decision-making, and build trust with stakeholders.
[2017 Fall Q. No. 2] Define ethics.
Answer: Ethics refers to the moral principles that guide behavior and decision-making, distinguishing between right and wrong. It involves doing what is fair, honest, and responsible.
[2017 Q. No. 6] Why should businesses be ethical? State four reasons.
Answer: Businesses should be ethical because:
- It builds trust with customers and stakeholders.
- It enhances the organization’s reputation and brand value.
- It reduces legal risks and penalties.
- It improves employee morale and productivity.
Write two examples of cross-cultural contradictions that create ethical problems in business in Nepal.
Answer: Examples of Cross-Cultural Contradictions in Nepal:
- Punctuality vs. Relationships: Western businesses prioritize strict deadlines, while Nepali culture values relationships over time.
- Hierarchy vs. Informality: Foreign companies may enforce strict hierarchies, conflicting with Nepal’s more informal workplace culture.
DESCRIPTIVE ANSWER QUESTIONS – [10 MARKS]
[2023 Spring Q. No. 14] Explain the various causes and consequences of ethical problems in business. What are your suggestions to make ethics work in Nepalese organizations? Discuss. Click here for Answer
[2023 Spring Q. No. 16] How do you evaluate the impact of ethics on business and society? Elucidate. Click here for Answer
[2027 Fall Q. No. 14] What are the major ethical issues that businesses face today? Make a comparison between society’s expectations of business ethics and actual business ethics. Click here for Answer
[2022 Fall Q. No. 16] Why should businesses be ethical? What are the causes of ethical problems in organizations? Explain in short. Click here for Answer
[2021 Spring Q. No. 15] Define business ethics. Critically evaluate the implications of ethics on business and society. Click here for Answer
[2021 Fall Q. No. 14] Define business ethics. Explain the various causes and consequences of ethical problems in business. Click here for Answer
[2020 Spring Q. No. 14] Discuss some recent examples of businesses engaging in unethical practices. Classify these practices as issues of conflict of interest, fairness and honesty, communications, or business relationships. Why do you think the businesses chose to behave unethically? What actions might the businesses have taken? Click here for Answer
[2020 Fall Q. No. 12] Explain the ethics audit. How do the organizations conduct ethics audits? What are the improvements be found after running ethics audits? Click here for Answer
[2019 Spring Q. No. 14] Describe UN global compact along with its principles. Click here for Answer
[2019 Fall Q. No. 15] What do you understand by ethics training programs? Discuss the elements of an ethics training program. Click here for Answer
[2018 Spring Q. No. 13] Give the concept of whistle-blowing and state its consequences to the whistleblower, to the organization against which the complaint is made, and to the society. Should it be encouraged in the workplace? Click here for Answer
[2017 Spring Q. No. 15] What are the major ethical issues that businesses face today? Make a comparison between society’s expectations of business ethics and actual business ethics. Click here for Answer
[2017 Fall Q. No. 14] Describe corporate ethics. List out causes of ethical problems. Click here for Answer
[2016 Spring Q. No. 14] Explain the core elements of ethical character. Also, explain the concept of whistle-blowing in the organization. Click here for Answer