Relationship between Ethics & Corporate Excellence – 50 MCQs

 

A. Ethics & Corporate Excellence

1. Corporate excellence mainly depends on:
A) Profit only
B) Ethical practices
C) Technology only
D) Advertising

✅ Answer: B
📝 Explanation: Ethics build trust, sustainability, and excellence.

2. Ethics contribute to corporate excellence by:
A) Increasing corruption
B) Improving reputation
C) Reducing responsibility
D) Ignoring stakeholders

✅ Answer: B
📝 Explanation: Ethical conduct enhances corporate image.

3. Corporate excellence refers to:
A) Short-term profit
B) Sustainable superior performance
C) Market monopoly
D) Cost cutting

✅ Answer: B
📝 Explanation: Excellence focuses on long-term superior performance.

4. Ethical organizations focus on:
A) Shareholders only
B) Stakeholders
C) Competitors
D) Customers only

✅ Answer: B
📝 Explanation: Ethics considers all stakeholders.

5. Ethics in business leads to:
A) Loss of trust
B) Corporate failure
C) Long-term success
D) Confusion

✅ Answer: C
📝 Explanation: Ethical firms succeed sustainably.

B. Corporate Mission Statement

6. A corporate mission statement defines:
A) Daily sales
B) Organization’s purpose
C) Employee salary
D) Market price

✅ Answer: B
📝 Explanation: Mission states why the organization exists.

7. Mission statement should be:
A) Vague
B) Ethical and value-based
C) Secret
D) Profit-only

✅ Answer: B
📝 Explanation: Ethics guide organizational direction.

8. A good mission statement focuses on:
A) Short-term profit
B) Values and vision
C) Competition
D) Marketing tactics

✅ Answer: B
📝 Explanation: Values give long-term direction.

9. Mission statement helps employees by:
A) Increasing pressure
B) Providing clarity and purpose
C) Reducing responsibility
D) Creating confusion

✅ Answer: B
📝 Explanation: Clear mission aligns employee efforts.

10. Ethical mission statements emphasize:
A) Greed
B) Social responsibility
C) Secrecy
D) Exploitation

✅ Answer: B
📝 Explanation: Ethics promote social good.

C. Code of Ethics

11. Code of ethics is:
A) Legal document
B) Moral guideline for behavior
C) Financial report
D) Policy manual only

✅ Answer: B
📝 Explanation: It guides ethical conduct.

12. Code of ethics applies to:
A) Managers only
B) Employees only
C) All members of organization
D) Customers

✅ Answer: C
📝 Explanation: Ethics apply to everyone.

13. Purpose of code of ethics is to:
A) Increase profit
B) Guide ethical decision-making
C) Control competition
D) Reduce workload

✅ Answer: B
📝 Explanation: It helps resolve ethical dilemmas.

14. Code of ethics helps prevent:
A) Growth
B) Fraud and misconduct
C) Innovation
D) Transparency

✅ Answer: B
📝 Explanation: Ethical rules reduce wrongdoing.

15. Effective code of ethics should be:
A) Hidden
B) Communicated and enforced
C) Ignored
D) Optional

✅ Answer: B
📝 Explanation: Awareness and enforcement are essential.

D. Organizational Culture

16. Organizational culture refers to:
A) Office design
B) Shared values and beliefs
C) Salary structure
D) Technology

✅ Answer: B
📝 Explanation: Culture shapes behavior.

17. Ethical culture promotes:
A) Fear
B) Trust and integrity
C) Conflict
D) Corruption

✅ Answer: B
📝 Explanation: Ethics build trust.

18. Leaders influence culture through:
A) Rules only
B) Example and behavior
C) Punishment
D) Technology

✅ Answer: B
📝 Explanation: Leaders model ethical behavior.

19. Strong ethical culture results in:
A) High employee turnover
B) Employee commitment
C) Stress
D) Conflict

✅ Answer: B
📝 Explanation: Employees trust ethical organizations.

20. Organizational culture supports excellence by:
A) Ignoring ethics
B) Aligning values with actions
C) Promoting corruption
D) Avoiding responsibility

✅ Answer: B
📝 Explanation: Alignment drives excellence.

E. Total Quality Management (TQM)

21. TQM focuses on:
A) Profit only
B) Continuous improvement
C) Cost cutting only
D) Technology only

✅ Answer: B
📝 Explanation: TQM improves quality continuously.

22. TQM is based on:
A) Short-term goals
B) Customer satisfaction
C) Competition
D) Authority

✅ Answer: B
📝 Explanation: Customer focus is central.

23. Ethics support TQM by ensuring:
A) Speed only
B) Honesty and transparency
C) Pressure
D) Secrecy

✅ Answer: B
📝 Explanation: Quality needs honest processes.

24. Employee involvement in TQM promotes:
A) Fear
B) Responsibility and ownership
C) Conflict
D) Isolation

✅ Answer: B
📝 Explanation: Participation improves quality.

25. TQM leads to corporate excellence by:
A) Ignoring values
B) Improving quality culture
C) Reducing ethics
D) Avoiding customers

✅ Answer: B
📝 Explanation: Quality culture builds excellence.

F. Gandhian Philosophy of Wealth Management

26. Gandhian philosophy views wealth as:
A) Personal property
B) Social trust
C) Power tool
D) Luxury

✅ Answer: B
📝 Explanation: Wealth should serve society.

27. Gandhi believed wealth should be used for:
A) Personal luxury
B) Social welfare
C) Hoarding
D) Competition

✅ Answer: B
📝 Explanation: Wealth must benefit society.

28. Accumulation of wealth without sharing is:
A) Ethical
B) Unethical
C) Recommended
D) Legal

✅ Answer: B
📝 Explanation: Gandhi opposed hoarding.

29. Gandhian wealth management supports:
A) Inequality
B) Social justice
C) Exploitation
D) Monopoly

✅ Answer: B
📝 Explanation: Justice and fairness are core.

30. Ethical business aligns with Gandhian view by:
A) Maximizing profit
B) Serving society
C) Ignoring employees
D) Exploiting resources

✅ Answer: B
📝 Explanation: Service over profit.

G. Philosophy of Trusteeship

31. Trusteeship means:
A) Ownership
B) Holding wealth for society
C) Control
D) Profit

✅ Answer: B
📝 Explanation: Owner acts as trustee.

32. Trusteeship reduces:
A) Responsibility
B) Economic inequality
C) Ethics
D) Transparency

✅ Answer: B
📝 Explanation: Wealth is shared for common good.

33. Business leaders under trusteeship should:
A) Exploit labor
B) Serve stakeholders
C) Focus on greed
D) Avoid responsibility

✅ Answer: B
📝 Explanation: Leaders serve society.

34. Trusteeship promotes:
A) Conflict
B) Ethical capitalism
C) Monopoly
D) Materialism

✅ Answer: B
📝 Explanation: Combines ethics with business.

35. Trusteeship is based on:
A) Power
B) Moral responsibility
C) Law
D) Competition

✅ Answer: B
📝 Explanation: Moral duty guides wealth use.

H. Gandhiji’s Seven Greatest Social Sins

36. Which is NOT one of Gandhi’s social sins?
A) Wealth without work
B) Knowledge without character
C) Pleasure without conscience
D) Profit without customers

✅ Answer: D
📝 Explanation: Option D is not listed by Gandhi.

37. “Wealth without work” refers to:
A) Honest earning
B) Exploitation
C) Charity
D) Investment

✅ Answer: B
📝 Explanation: Earning without effort is unethical.

38. “Business without morality” means:
A) Legal business
B) Unethical business practices
C) Charity
D) Quality focus

✅ Answer: B
📝 Explanation: Morality is essential in business.

39. “Politics without principle” indicates:
A) Ethical politics
B) Corruption
C) Leadership
D) Governance

✅ Answer: B
📝 Explanation: Lack of principles leads to corruption.

40. “Knowledge without character” warns against:
A) Education
B) Misuse of knowledge
C) Learning
D) Research

✅ Answer: B
📝 Explanation: Knowledge must be ethical.

I. Ethics & Excellence – Integration

41. Ethics and excellence together ensure:
A) Short-term gain
B) Sustainable success
C) Market domination
D) Risk

✅ Answer: B
📝 Explanation: Ethics sustain excellence.

42. Ethical leadership improves:
A) Conflict
B) Corporate governance
C) Fear
D) Secrecy

✅ Answer: B
📝 Explanation: Ethics strengthen governance.

43. Ethical excellence leads to:
A) Customer loyalty
B) Legal problems
C) Employee fear
D) Instability

✅ Answer: A
📝 Explanation: Trust builds loyalty.

44. Corporate excellence without ethics results in:
A) Sustainability
B) Reputation risk
C) Trust
D) Harmony

✅ Answer: B
📝 Explanation: Unethical excellence is risky.

45. Ethics act as a foundation for:
A) Corruption
B) Corporate excellence
C) Monopoly
D) Conflict

✅ Answer: B
📝 Explanation: Ethics underpin excellence.

J. Miscellaneous

46. Corporate mission should align with:
A) Market trends only
B) Ethical values
C) Competition
D) Technology

✅ Answer: B
📝 Explanation: Ethics guide mission.

47. Ethical culture encourages:
A) Whistle-blowing
B) Fraud
C) Secrecy
D) Manipulation

✅ Answer: A
📝 Explanation: Transparency supports ethics.

48. Gandhian philosophy emphasizes:
A) Materialism
B) Simplicity and ethics
C) Luxury
D) Power

✅ Answer: B
📝 Explanation: Simplicity aligns with ethics.

49. Corporate excellence is measured by:
A) Profit only
B) Ethical, social, and financial performance
C) Market share only
D) Advertising

✅ Answer: B
📝 Explanation: Excellence is multidimensional.

50. Ethics ultimately aim to:
A) Restrict business
B) Balance profit and responsibility
C) Reduce growth
D) Avoid competition

✅ Answer: B
📝 Explanation: Ethics balance profit with social duty.

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