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READING PASSAGE

fostering reading as a skill

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35 views

READING PASSAGE

fostering reading as a skill

Uploaded by

achillesfarid815
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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READING PASSAGE: BUSINESS ETHICS Directions

(Q. 1-10): Read the following passage carefully and answer the questions given below.
Ethics concern an individual's moral judgements about right and wrong. Decisions taken
within an organisation may be made by individuals or groups, but whoever makes them will
be influenced by the culture of the company. The decision to behave ethically is a moral one;
employees must decide what they think is the right course of action. This may involve
rejecting the route that would lead to the biggest short-term profit. Ethical issues include
the rights and duties between a company and its employees, suppliers, customers and
neighbours, its fiduciary responsibility to its shareholders. Issues concerning relations
between different companies include hostile take-over and industrial espionage. Related
issues include governance; corporate; political contributions; legal issues such as the
ethical debate over introducing a crime of corporate manslaughter, and the marketing of
corporations' ethics policies. Business ethics reflects the philosophy of business, one of
whose aims is to determine the fundamental purposes of a company. If a company's
purpose is to maximise shareholder returns, then sacrificing profits to other concerns is a
violation of its fiduciary responsibility. Business ethics is also known as corporate ethics, a
form of applied ethics or professional ethics that examines ethical principles and moral or
ethical problems that arise in a business environment. It applies to all aspects of business
conduct and is relevant to the conduct of individuals and entire organisations. Business
ethics has both normative and descriptive dimensions. As a corporate practice and a
career specialisation, the field is primarily normative. Academics attempting to understand
business behaviour employ descriptive methods. The range and quantity of business ethical
issues reflects the interaction of profit-maximising behaviour with non-economic concerns.
Ethical behaviour and corporate social responsibility can bring significant benefits to a
business. For example, they may attract customers to the firm's products, thereby boosting
sales and profits. It makes employees want to stay with the business, reduce labour turnover
and therefore increase productivity. It attracts more employees wanting to work for the
business, reduce recruitment costs and enable the company to get the most talented
employees and also attract investors and keep the company's share price high, thereby
protecting the business from takeover. While unethical behaviour or a lack of
corporate social responsibility, by comparison, may damage a firm's reputation and make
it less appealing to stakeholders. Unethical behaviour can also result in bad publicity,
resulting in a bad name that will always be associated with the company even if they
attempt to utilise a more ethical code of conduct. If a company has unethical behaviour and
is charged by the courts, they can wind up paying fines, court fees and may even receive
some jail time, many companies eventually go bankrupt and close their doors due to the
high cost of unethical behaviours. Unethical behaviour also decreases productivity of a
company. If you are working in a company with bad ethical behaviours, it is difficult for the
employees to trust each other, or their supervisors. When people work in an environment
where they do not trust anyone, they are not going to do their best work, if they continue
to work there at all. Unethical behaviour can cause employees to lose the faith in the
company and become more likely to call it sick more often or not even show up at all. Once a
company is known for having unethical behaviours, the effects can be permanent. All of the
years spent on building a good reputation can be quickly torn downwith only one unethical
incident, destroying the company's reputation possibly forever

Q4. Once a company is known for having unethical behaviours, the effect can be A.
permanent B. negligible C. temporary D. partial E. none of these Q5. Which of the following
is definitely true in the context of the passage? A. Profit maximisation directly is proportional
to ethical behaviour. B. People having ethical behaviour are in loss at their workplace. C.
Corporate culture doesn’t understand business behaviour. D. Both B. and C. E. None of these
Directions (Q. 6-8): Choose the word which is most nearly the SAME in meaning as the word
printed in bold as used in the passage. Q6. FIDUCIARY A. Employee B. Guardian C.
Minimum D. Collector E. Store keeper Q7. ESPIONAGE A. Spying B.
Information C. Reforms D. Norms E. Requirement Q8. TORN DOWN A. Restore
B. Reject C. Initiate D. End E. Demolish Directions (Q. 9-10): Choose the
word which is most OPPOSITE in meaning of the word printed in bold as used in the passage.
09. WIND-UP

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