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WorksheetsBusiness Ethics, Social Responsibility & Globalisation
Total questions: 20
Worksheet time: 10mins
This is a practice of firms to act in a manner so that their actions do not negatively affect society or the environment.
(a)
Who are the stakeholders that the firm have responsibility to?
Consumers, Auditors, Account & Receptionist
Shareholders, Employees, CEO & Community
Employees, Community, Shareholders & Consumers
Employees, Community, Shareholders & Suppliers
What is defined as a set of rules, practices and processes which guide the way a business is operated?
(a)
Why is good corporate governance important?
Shareholders are not infringed
Stakeholders are not treated unfairly
To make sure the business doesn't harm the environment
None of the above
What is business ethics?
What is the government's response to social irresponsibility?
To completely shut down businesses that don't cooperate
Impose taxes to offset the cost to the environment
Impose stiff penalty
Pass legislation limiting noise and other forms of pollution
Refuse to give contracts to companies that are unethical or socially irresponsible
What is "code of ethics"?
The deed to the business ensures the business is legit and no one else claims the name
A document that outlines the guidelines that govern the behaviour of management and employees
This is the ethics of the business to ensure the business doesn't harm the environment and society
None of the above
Name one common ethical issue with CARICOM?
(a)
What is NEPA?
National Environmental Policy Act
National Ethics of Accustoms
Nation Environmental Pollution Association
National Environmental Protection Agency
What is the firm's responsibility to the shareholders?
Provide a forum through which they can express views and give suggestions
Give fair returns on shareholders’ investment
Ensure that waste is properly disposed of
Protect their investment
Keep them informed of the business’s performance
What is trade liberalisation?
What is the best definition of globalisation?
Increased the modern communications between societies all over the world for all cultures
A single market economy that is accessible globally for persons to purchase and sell products and services
A rapid, large movement of goods and services for all persons internationally
None of the above
What is the quality assurance of businesses with globalisation?
Ensuring the certification of products to meet international standards
Maintain and set quality standards
Making sure the products are damaged
Reduce the local firms' standards and raise their prices highly for everyone
What is the pricing policy of business with globalisation?
Profit loss of local businesses
International firms sell their products lower than domestic businesses
Local business reduces their prices because of the MNCs
Maintain quality standards of products
How does the internet help businesses with globalisation?
Provides them with numerous opportunities
They can connect with e-commerce, advertisement, sell and purchase products online
They can play games online during work so they wouldn't have to be stressed everyday
Allows them to message friends on Facebook and Instagram
What are the remaining aspects of business with globalisation?
None of the below
Communities, Employees, Auditors
Customers, Shareholders, Communities
Economies of scale, technology advancement, choice of location
Why is competition from MNCs an issue for domestic businesses?
It scares away consumers from MNCs from both domestic businesses and multinationals
It causes personal pollution for domestic businesses
Consumers have access to other cheaper products and services besides local businesses
None of the above
BONUS QUESTIONS
What are multinationals (MNCs)?
BONUS QUESTIONS
What is another name for an MNC?
BONUS QUESTION
What does MNC stand for?
