27 Questions
What does accountability refer to?
The obligation to give an explanation for the company's actions
What do institutional investors want more information about?
Board performance, morally acceptable policies, and transparent financial data
What is fairness concerned with?
Actions, processes, and consequences that are morally right, honorable and equitable
What is crucial in ensuring high performance within an organization?
Accountability
What is one of the steps to accountability mentioned in the text?
Keep records
What do customers demand information on according to the text?
Product quality, community involvement, and child-labor practices
What does transparency mean for a company?
Providing clear information to shareholders and other stakeholders.
What is one advantage of transparency for a company?
Demonstrating respect for both employees and customers.
What does Aristotle's quote 'Equals should be treated equally and unequals unequally' imply?
It implies that fairness is achieved by treating everyone differently based on their circumstances.
Why is open and honest communication important for staff involvement?
To maintain a higher degree of morale and job satisfaction among the staff.
How does transparency help in image management for a company?
By managing public perception through open and transparent behavior.
What is the significance of reaffirming equal opportunity for recognition in an organization?
To demonstrate equality and fairness within the organization.
What is the primary demand of institutional investors according to the text?
Fully transparent financial data
What does fairness in the workplace primarily involve?
Giving employees identical opportunities
What is the main aspect of accountability in the context of high performance within an organization?
Act promptly with care
What is a key characteristic of accountability as per the text?
Obligation to give an explanation for the company’s actions
What do customers primarily demand information on according to the text?
Community involvement and child-labor practices
What is the most crucial factor for ensuring high performance within an organization according to the text?
Act promptly with care
Which of the following is NOT mentioned as an advantage of transparency for a company?
Increased operational efficiency
What is one way in which transparency can help in image management for a company?
By releasing timely information advantageous to the company
What does fairness, according to the text, oppose?
Favoritism and cronyism
What does the text suggest is crucial for maintaining staff loyalty, morale, and job satisfaction?
Transparency and open communication with staff
What is one impact of transparency on customer service, as described in the text?
It increases customer loyalty through sincere and truthful behavior
What is one advantage of open and honest communication for staff involvement?
It facilitates building staff loyalty and higher degree of morale
What does the absence of transparency and accountability create, according to the text?
Mistrust between a government and its constituents
How does transparency contribute to a positive public perception, based on the text?
By openly providing clear information to shareholders and stakeholders
What does openness and willingness to provide clear information ensure?
Confidence in the decision-making process of a company
Test your knowledge about the concept of accountability within organizations and its impact on performance. Explore the expectations of institutional investors regarding board performance, ethical standards, compensation policies, and financial transparency.
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