Podcast
Questions and Answers
Transparency in business demonstrates respect for employees and customers.
Transparency in business demonstrates respect for employees and customers.
True (A)
Which of these is NOT an advantage of transparency in business?
Which of these is NOT an advantage of transparency in business?
- Positive Public Perception
- Limited Information Sharing (correct)
- Staff Involvement
- Respect
Accountability is crucial in ensuring ______ within an organization.
Accountability is crucial in ensuring ______ within an organization.
high performance
Why is transparency important for non-profit organizations?
Why is transparency important for non-profit organizations?
Match the following concepts with their definitions:
Match the following concepts with their definitions:
Giving a judgment without hearing both sides of a story demonstrates fairness.
Giving a judgment without hearing both sides of a story demonstrates fairness.
Which party does NOT demand accountability from businesses?
Which party does NOT demand accountability from businesses?
Give an example of how transparency can improve customer service.
Give an example of how transparency can improve customer service.
Flashcards
Transparency
Transparency
Openness that builds confidence in decision-making.
Accountability
Accountability
Obligation to explain or justify company actions.
Fairness
Fairness
Equal treatment based on standards and commitments.
Negative consequences of non-accountability
Negative consequences of non-accountability
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Advantages of transparency
Advantages of transparency
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Respect in business
Respect in business
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Positive public perception
Positive public perception
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Staff involvement
Staff involvement
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Study Notes
True or False Statements
- Kevin's reimbursement of expenses, without official receipts, was not transparent.
- Employees are accountable for damage or loss of company property.
- Fairness is demonstrated when someone listens to a single side of a story and makes a judgment immediately.
- An employee, who recommended a cousin for a company position, is accountable for the cousin's theft.
Fairness
- Equal treatment of individuals is valued.
- Consistent performance is expected.
- Actions, processes, and consequences need to be morally right, honorable, and equitable.
Accountability
- Accountability involves the obligation to explain company actions and conduct.
- Customers and shareholders continue to require businesses to be accountable.
- Accountability is essential for high performance within organizations.
Company Constituents
- Key constituents include institutional investors, customers, employees, and communities.
Transparency
- Openness fosters stakeholder confidence in decision-making and company management processes.
- Transparency builds trust and respect among employees and customers.
- Transparency promotes a positive public perception and allows the company to showcase that they have nothing to hide.
- Media connections help disseminate information during crises.
- Transparency contributes to improved customer service.
- Transparency supports staff involvement and improves an organization's image.
Additional Questions
- Have you been blamed for something you didn't do?
- Have you lost someone else's property you borrowed?
- Have you received a grade you think wasn't deserved?
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Description
Test your knowledge on key concepts in business ethics, including fairness, accountability, transparency, and the responsibilities of company constituents. This quiz will challenge your understanding of ethical behavior in organizational settings.
