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Questions and Answers
What is the primary focus of ethics and governance?
What is the primary focus of ethics and governance?
- Balancing social responsibility with financial success (correct)
- Maximizing profits for shareholders
- Minimizing employee turnover
- Ensuring compliance with legal regulations
Which factor is crucial for effective governance and ethical behavior?
Which factor is crucial for effective governance and ethical behavior?
- Maintaining a monopoly in the market
- Promoting transparency and accountability (correct)
- Enforcing strict employee dress codes
- Offering high executive salaries
How does a strong ethical culture impact an organization?
How does a strong ethical culture impact an organization?
- It results in higher environmental pollution
- It leads to decreased customer satisfaction
- It fosters trust and loyalty among employees (correct)
- It causes a decline in corporate reputation
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Study Notes
Ethics and Governance
- The primary focus of ethics and governance is to ensure that an organization operates with integrity, accountability, and transparency.
Effective Governance
- A crucial factor for effective governance and ethical behavior is leadership commitment and tone at the top.
Impact of Ethical Culture
- A strong ethical culture in an organization promotes a positive work environment, enhances credibility and reputation, and improves decision-making.
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