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Core Principles in Business Operation and Stewardship

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Core Principles in Business Operation and Stewardship

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Questions and Answers

What is the purpose of oversight in corporate governance?

To decrease transparency in decision-making processes

To limit employees' opportunities to deviate from policies and strategies (correct)

To provide financial oversight only

To enforce compliance with legal considerations only

How does accountability contribute to corporate governance?

By ensuring that workplace decisions align with the firm's strategic direction (correct)

By promoting a lack of transparency in operations

By limiting stakeholder involvement in decision-making processes

By encouraging unethical activities within the organization

What is the main goal of effective corporate governance?

To limit stakeholder understanding of organizational goals

To encourage unethical behavior among employees

To create a compliance and ethics culture within the organization (correct)

To discourage recovery and continuous improvement efforts

How does transparency impact organizational communication?

By promoting open communication and honesty Signup and view all the answers

Why is alignment between standards and values important in an organization?

To ensure there is no conflict between what is believed and what is practiced Signup and view all the answers

What are the three fundamental elements that motivate people to be fair?

Equality, reciprocity, and optimization Signup and view all the answers

In business, what does reciprocity refer to?

An interchange of giving and receiving in social relationships Signup and view all the answers

Why is discriminating based on gender, race, or religion considered unfair in business?

Because these qualities are irrelevant to a person's job performance Signup and view all the answers

What is the main ethical issue raised regarding reciprocity in businesses?

The disparity in compensation between CEOs and employees Signup and view all the answers

How does fairness overlap with justice, equity, and morality?

There is a shared quality of being just, equitable, and impartial Signup and view all the answers