JSS 1 Business Studies Flashcards: Meaning, Importance and Principles of Business Ethics

Question 1

What is business ethics?

Accepted Answer

moral principles guiding business conduct

Question 2

Giving customers accurate product information demonstrates what?

Accepted Answer

honesty

Question 3

Charging comparable customers by the same rules demonstrates what?

Accepted Answer

fairness

Question 4

Listening courteously to a customer's complaint demonstrates what?

Accepted Answer

respect

Question 5

Accepting responsibility for a work error demonstrates what?

Accepted Answer

accountability

Question 6

Returning excess change received from a supplier is what behaviour?

Accepted Answer

ethical behaviour

Question 7

Altering records to hide missing money is what behaviour?

Accepted Answer

unethical behaviour

Question 8

Why is ethical conduct important to a business?

Accepted Answer

it builds trust and reputation

Question 9

After repeated deception, what may happen to the business's sales?

Accepted Answer

sales may fall

Question 10

How can fraud affect employees?

Accepted Answer

it can cause job losses and low morale

Question 11

What is a conflict of interest?

Accepted Answer

personal interest interfering with official duty

Question 12

A buyer's relative submits a bid for a supply contract. The buyer should ____ the conflict.

Accepted Answer

disclose it to the proper authority

Question 13

Why should customer information be kept confidential?

Accepted Answer

to protect privacy and trust

Question 14

A contract should go to the qualified supplier offering fair value, using ____ criteria.

Accepted Answer

fair and stated criteria

Question 15

Offering money to influence an official decision is what?

Accepted Answer

bribery

Question 16

How can a code of conduct prevent unethical behaviour?

Accepted Answer

it states expected standards

Question 17

Why should businesses provide safe reporting channels?

Accepted Answer

so misconduct can be reported without fear

Question 18

Managers obey the rules they enforce. What ethical influence does their example provide?

Accepted Answer

leaders model acceptable behaviour

Question 19

An investigation confirms misconduct. What should follow the proven violation?

Accepted Answer

fair and consistent discipline

Question 20

Regular ____ helps workers recognise and handle ethical dilemmas.

Accepted Answer

ethics training

Strong work.