Business Ethics, Governance & Risk Course Design Quiz
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Questions and Answers

What is the underlying message of the Lehman Brothers case according to the text?

  • Transparency and accountability are crucial in the business world. (correct)
  • Financial crises like the one in 2008 are unavoidable.
  • Deceiving shareholders is a common practice in the finance industry.
  • Ethical behavior is not important for corporations to succeed.

    • How did the accountants who chose not to act impact the industry, according to the text?

  • Let down the entire industry and professionals within it. (correct)
  • Led to the success of their company.
  • Set a positive example for other professionals.
  • Disappointed the company's shareholders.

    • What led to the demise of Lehman Brothers, as discussed in the text?

  • Conscious decisions to deceive and manipulate by executives. (correct)
  • Lack of skilled employees in the company.
  • Excessive transparency and accountability.
  • Unavoidable external economic factors.

    • Why does the text suggest that ethics education is important for corporations?

    <p>To improve how corporations behave ethically.</p> Signup and view all the answers

    What lesson can be learned from the Lehman Brothers case, as highlighted in the text?

    <p>Right actions upfront might be difficult but help prevent unethical practices.</p> Signup and view all the answers

    What is suggested as a key improvement for corporations based on the Lehman Brothers case?

    <p>Enhancing transparency and accountability through ethics education.</p> Signup and view all the answers

    What is the primary reason for businesses to maintain a code of conduct?

    <p>To earn profits and grow the economy</p> Signup and view all the answers

    What type of problems can business ethics examine?

    <p>Ethical dilemmas faced by businesses</p> Signup and view all the answers

    Can business ethics be enforced by law or by force?

    <p>No, business ethics cannot be enforced by law or by force</p> Signup and view all the answers

    What is the role of an organization's internal business environment in ensuring ethical norms are followed?

    <p>It should be explored to ensure set ethical norms are being followed</p> Signup and view all the answers

    What is the primary purpose of embedding ethics in an organization's culture?

    <p>To create a more ethical environment</p> Signup and view all the answers

    What is the relationship between good relations and earning profits for a business?

    <p>Good relations can lead to earning profits</p> Signup and view all the answers

    Which of the following is NOT a specialization of Ms.Paramita Dhar?

    <p>Finance</p> Signup and view all the answers

    What is the ISBN number of the book?

    <p>978-93-5119-836-9</p> Signup and view all the answers

    What is the address of the publisher?

    <p>4435/7, Ansari Road, Daryaganj, New Delhi–110002</p> Signup and view all the answers

    Who is the author of the book?

    <p>Dr.Arunachal Khosla</p> Signup and view all the answers

    Who reviewed the book?

    <p>Ms.Paramita Dhar</p> Signup and view all the answers

    Which of the following is NOT a chapter in the book?

    <p>Ethical Issues in Functional Areas of Marketing</p> Signup and view all the answers

    What is the relationship between integrity and honesty?

    <p>Honesty can exist without integrity</p> Signup and view all the answers

    Why is trust essential for a business to sustain?

    <p>All of the above</p> Signup and view all the answers

    What is the difference between fairness and ethics?

    <p>Fairness is about being just and equitable</p> Signup and view all the answers

    How can fairness be imbibed in an organization?

    <p>By freeing all processes from external influences and respecting stakeholders</p> Signup and view all the answers

    What happens if a business does not maintain mutual trust among its stakeholders?

    <p>It cannot sustain</p> Signup and view all the answers

    Why do stakeholders prefer to deal with organizations that fulfill promises?

    <p>To win the trust of these stakeholders</p> Signup and view all the answers

    What was the purpose of using Repo 105 by Lehman Brothers?

    <p>To intentionally mislead stakeholders and maintain confidence</p> Signup and view all the answers

    How long was Repo 105 used by Lehman Brothers?

    <p>For two consecutive quarters</p> Signup and view all the answers

    What was the result of the Lehman Brothers' executive team's inability to manage the issue?

    <p>A dangerous increase in the bank's leverage</p> Signup and view all the answers

    What would have been a better course of action for Lehman Brothers?

    <p>To fully and accurately disclose the details of its finances</p> Signup and view all the answers

    What was the purpose of creating a phantom subsidiary by Lehman Brothers?

    <p>To grossly manipulate the bank's stakeholders</p> Signup and view all the answers

    How was Repo 105 used by Lehman Brothers?

    <p>To move assets away from the balance sheet</p> Signup and view all the answers

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