BDG Week 5 Quiz

Implementing ethical business practices in day-to-day operations is essential for an organization because:

• it enhances the company's reputation and trustworthiness.

• it increases short-term profits significantly.

• it allows the company to bypass legal regulations.

• it reduces the need for employee training.

What are some practical steps that businesses can take to ensure ethical practices are embedded in their daily operations?

• Implement a code of ethics and provide regular training

• Focus solely on profit maximization

• Ignore stakeholder feedback

• Disregard legal regulations

The purpose of creating a comprehensive code of ethics in a company is to:

• ensure compliance with laws and regulations

• promote a positive company culture

• protect the company's reputation

• all of the above

What is the focus of ethics training and education for employees according to the company's code of ethics?

• Compliance with laws and regulations

• Enhancing employee productivity

• Improving technical skills

• Increasing sales targets

Explain how leaders and managers can implement ethical business practices according to the passage.

• By setting a good example and promoting a culture of integrity.

• By focusing solely on profit maximization.

• By ignoring ethical guidelines and focusing on results.

• By delegating all ethical decisions to a separate committee.

The purpose of establishing whistleblower mechanisms in a business is to:

• ensure compliance with laws and regulations.

• protect the company's trade secrets.

• increase employee productivity.

• enhance customer satisfaction.

What are the key aspects of ethical procurement and supply chain management?

• Transparency, accountability, and sustainability

• Cost reduction and efficiency

• Innovation and technology integration

• Market expansion and growth

What are some key components of fair employment practices according to the image?

• Equal opportunity and non-discrimination

• Flexible working hours and remote work options

• High salary and bonuses

• Casual dress code

Explain the importance of safeguarding customer data and privacy in implementing ethical business practices.

• It builds customer trust and loyalty.

• It increases operational costs.

• It is not necessary for small businesses.

• It only benefits the company.

What are some ways to avoid conflicts of interest in a business setting?

• Implementing a clear conflict of interest policy

• Ignoring potential conflicts

• Encouraging undisclosed relationships

• Allowing personal interests to influence decisions