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Supplier Rights and Ethical Practices Quiz

15 Questions

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Supplier Rights and Ethical Practices Quiz

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Questions and Answers

Which of the following best describes a conflict of interest?

A situation where an individual is financially benefiting from a business decision

A situation where an individual's personal interests conflict with their professional duties (correct)

A situation where an individual is giving preferential treatment to family members or friends

A situation where an individual is involved in corruption, bribery, or fraud

What is one of the key elements of ESG principles in sourcing activities?

Promotion of corruption and bribery

Strict financial metrics

Lack of commitment to fighting modern slavery

Adherence to sustainable practices (correct)

What is the potential consequence of a conflict of interest?

Increased financial gain

Improved decision-making process

Enhanced professional duties

Unethical or inappropriate actions (correct)

Which organization is responsible for defining a broad range of fundamental human rights and freedoms?

United Nations Signup and view all the answers

What is the purpose of transparency in managing conflicts of interest?

To maintain trust and integrity Signup and view all the answers

What can be the consequences of a conflict of interest in business transactions?

Higher costs and potential delays Signup and view all the answers

What are human rights?

Basic rights and freedoms to which all individuals are entitled Signup and view all the answers

Which organization conducts research into potential human rights abuses, lobbies governments to uphold human rights, and runs campaigns to raise awareness of human rights violations?

Amnesty International Signup and view all the answers

What is the term for contemporary forms of enslavement that persist today, despite legal abolitions of slavery?

Modern slavery Signup and view all the answers

Which organization enforces the Human Rights Act 1998 and the Equality Act 2010 in the UK?

Equality and Human Rights Commission (UK) Signup and view all the answers

What is one sign procurement professionals can look out for to detect modern slavery within supply chains?

Suspiciously low labor costs or suppliers that aren't accredited by Fairtrade Signup and view all the answers

According to the text, what proactive approach can be taken to counteract modern slavery?

Conducting due diligence checks on suppliers. Signup and view all the answers

What is the purpose of the Modern Slavery Act 2015 in the UK?

To mandate companies to publish an anti-slavery statement on their websites Signup and view all the answers

What consequences did QuickBites Corp. face after being associated with forced labor?

Legal actions and reputational damage Signup and view all the answers

What did QuickBites Corp. pledge to do in order to rectify the situation?

Implement stricter supplier assessment processes Signup and view all the answers