Exploring Business Ethics and Values

What are the key principles of business ethics?

• Honesty, transparency, accountability, fairness, respect for stakeholders, compliance with laws.

• Prioritizing shareholder interests exclusively

• Avoiding all forms of competition

• Profit maximization at all costs

Can you provide an example of a code of ethics from a well-known organization?

• American Medical Association (AMA) Code of Ethics

• Institute of Electrical and Electronics Engineers (IEEE) Code of Ethics

• American Psychological Association (APA) Code of Ethics

• National Education Association (NEA) Code of Ethics

What is the difference between normative ethics and descriptive ethics?

• Normative ethics prescribes what is right or wrong, while descriptive ethics describes how people actually behave regarding morality.

• Descriptive ethics focuses on ethical theories, while normative ethics studies historical moral practices.

• Normative ethics is concerned with legal standards, while descriptive ethics deals with cultural norms.

• Normative ethics describes moral behavior, while descriptive ethics prescribes moral rules.

How do human values influence ethical decision-making in business?

• Human values have no impact on business decisions.

• Human values influence ethical decision-making by guiding priorities and behaviors, promoting integrity, fairness, and accountability in business.

• Ethical decision-making is solely based on profit maximization.

• Business decisions are only influenced by legal regulations.

What methods can organizations use to assess ethical behavior among employees?

• Team-building exercises

• Social events

• Employee satisfaction surveys

• Surveys, performance evaluations, ethics training, whistleblower policies, and compliance audits.

List the four types of human values:

• Technological, Social, Karmic and Traditional

• Cultural, Traditional, Social and Economic

• Economic, Social, Traditional, Human

• Social, Spiritual, Aesthetic, Organizationa;

What is the concept of ethos in Vedanta?

• Ethos in Vedanta emphasizes material wealth and success.

• Ethos in Vedanta refers to the physical practices of yoga.

• Ethos in Vedanta is solely about social customs and traditions.

• Ethos in Vedanta signifies the guiding principles of righteousness and self-realization.

What is the distinction between knowledge and wisdom in ethical contexts?

• Knowledge is the same as wisdom.

• Knowledge is information; wisdom is the judicious application of that information in ethical situations.

• Wisdom is only about having experience.

• Knowledge is irrelevant in ethical decision-making.

Explain the concept of Karma in ethical decision-making.

• Karma is a concept that only applies to spiritual beliefs, not ethics.

• Karma is solely about fate and destiny without regard for actions.

• Karma suggests that all actions are predetermined and unchangeable.

• Karma emphasizes the importance of considering the consequences of one's actions, promoting ethical behavior

What are the characteristics of Nishkaam Karma?

• Selfish action

• Selfless action

• Avoiding responsibilities

• Seeking fame and recognition