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Questions and Answers
What is the role of ethics in management?
What is the role of ethics in management?
- Maximizing profits at any cost
- Ignoring the impact of decisions on stakeholders
- Focusing solely on short-term gains
- Guiding decision-making and behavior towards moral and responsible actions (correct)
Why are values important in management?
Why are values important in management?
- They are only relevant for employees, not leadership
- They have no impact on organizational success
- They shape organizational culture and guide behavior (correct)
- They hinder decision-making processes
What are the potential consequences of ignoring ethics in management?
What are the potential consequences of ignoring ethics in management?
- Increased stakeholder satisfaction
- Loss of trust, reputation damage, and legal issues (correct)
- Enhanced long-term relationships with partners
- Improved employee morale
