BUSINESS AND SOCIETY

Question 1

various forces shaping the business and society

Answer 1

1. changing societal expectations
2. government intervention
   3.globalization
3. evolving government regulations and business response
4. dynamic nature environment
   6.explosion of new technology and innovation

Question 2

important corporate efforts to promote diversity

Answer 2

1. establish task force
2. diversity policies
3. hiring and promotion
4. communicate effectively

Question 3

benefits of csr to business and society

Answer 3

1. competitive advantage
2. operational cost savings
3. access to funding opportunities
4. increase in customer retention
5. winning new businesses
6. risk management
   enhanced relationship with stakeholders

Question 4

core elements of ethical characters

Answer 4

1. manager’s values
2. value ethics
3. personal character, spirituality and moral development of managers

Question 5

causes and consequences of ethical problems

Answer 5

CAUSES
1. greed
2. fear
3. pressure
4. lack of ethical knowledge

CONSEQUENCES
1. adverse effects on firm’s credibility and reputation
2. poor stakeholders relationship
3. sustainability of business
4. negative impacts on society
5. litigation and business risks
6.costly government regulations

Question 6

suggestions for improving ethical practices in nepal

Answer 6

1. develop a code of ethics
2. education
3. recruit and hire well
4. provide ethics training
5. reward ethical behavior and punish violations
   6.designate a focal person
   7.use of IT
6. reject bribery and corruption

Question 7

why employees do not report observations of misconduct

Answer 7

1. fear of legal consequences
2. cultural or peer pressure
3. fear of being wrong
4. lack of awareness

Question 8

status of csr in nepal

Answer 8

1. csr practice to communties
2. csr practice to employees
3. csr practice to customers
4. csr practice wrt environment
5. csr practice to stakeholders and other investors
6. csr practice wrt corporate governance
7. csr practice by firm sectors

Question 9

impact of ethics on business and society

Answer 9

1. ethical companies have been shown to be more profitable
2. making ethical choices results in lower stress for corporate managers and other employees
3. ethical behavior enhances leadership
4. ethical conduct builds trust among individuals and in business relationships, which validates and promotes confidence in business relationships.
   5.business Ethics can guide the managers and executives of a business organization in the right direction.
5. ethical code can enhance corporate reputation and brand image
6. an ethical organization employees are more satisfied and loyal to the company than thpse of unethical one
7. long term profitable relationship with customers
   9.