Today's essay based questions ‼️ Topic..How to tackle Ethical issues/Dilemma in a organization
_Purchase Department_
1. Case Study:
Rahul, a purchase manager at a manufacturing company, is responsible for procuring raw materials. One day, he receives a bribe offer from a supplier in exchange for awarding them a contract. What should Rahul do?
A) Accept the bribe and award the contract
B) Reject the bribe and award the contract to another supplier
C) Report the incident to his supervisor
D) Ignore the incident and continue with the procurement process
Answer:
1. Case Study:
A purchase department employee, Rohan, discovers that a supplier has been overcharging the company for raw materials. However, the supplier has been providing Rohan with personal gifts and favors. What should Rohan do?
A) Ignore the overcharging and continue accepting gifts and favors
B) Report the overcharging to his supervisor and return the gifts and favors
C) Confront the supplier and demand a refund
D) Resign from the company to avoid conflict
Answer
_Payroll Department_
1. Case Study:
A payroll department employee, Priya, discovers that an employee has been misrepresenting their work hours to receive extra pay. What should Priya do?
A) Ignore the issue and continue processing the employee's payroll
B) Report the issue to her supervisor and recommend disciplinary action
C) Confront the employee and demand repayment of the excess amount
D) Resign from the company to avoid conflict
Answer:
1. Case Study:
A payroll department employee, Raj, is responsible for processing employee salaries. However, he discovers that the company is not paying its employees the minimum wage required by law. What should Raj do?
A) Ignore the issue and continue processing employee salaries
B) Report the issue to his supervisor and recommend corrective action
C) Confront the management and demand immediate correction
D) Resign from the company to avoid conflict
Answer:
_Human Resource Department_
1. Case Study:
A human resource department employee, Ramesh, discovers that an employee has been harassed by a colleague. However, the employee is hesitant to report the incident due to fear of retaliation. What should Ramesh do?
A) Ignore the issue and advise the employee to resolve it on their own
B) Report the issue to his supervisor and recommend disciplinary action against the harasser
C) Counsel the employee and provide support, but do not report the incident
D) Resign from the company to avoid conflict
Answer:
1. Case Study:
A human resource department employee, Suresh, discovers that an employee has been misrepresenting their qualifications and experience on their resume. What should Suresh do?
A) Ignore the issue and continue employing the individual
B) Report the issue to his supervisor and recommend disciplinary action
C) Confront the employee and demand correction of their resume
D) Resign from the company to avoid conflict
Answer:
_Production Department_
1. Case Study:
A production department employee, Kumar, discovers that a machine is not functioning properly and is producing defective products. However, the production manager is pressuring him to meet the production targets and ignore the issue. What should Kumar do?
A) Ignore the issue and continue producing products
B) Report the issue to his supervisor and recommend corrective action
C) Confront the production manager and refuse to continue producing defective products
D) Resign from the company to avoid conflict
Answer:
1. Case Study:
A production department employee, Ravi, discovers that a colleague is not following safety protocols and is putting themselves and others at risk. What should Ravi do?
A) Ignore the issue and continue working
B) Report the issue to his supervisor and recommend corrective action
C) Confront the colleague and demand that they follow safety protocols
D) Resign from the company to avoid conflict
Answer:
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_Senior Management Level_
1. Case Study:
The CEO of a company, Mr. Sharma, is considering a proposal to acquire a rival company. However, he has a personal relationship with the CEO of the rival company and stands to gain financially from the acquisition. What should Mr. Sharma do?
A) Approve the acquisition proposal without disclosing his personal relationship
B) Recuse himself from the decision-making process due to conflict of interest
C) Disclose his personal relationship to the board of directors and seek their approval
D) Reject the acquisition proposal due to potential conflict of interest
Answer:
1. Case Study:
The CFO of a company, Ms. Rao, discovers that the company's financial statements contain material errors that could mislead investors. However, the CEO is pressuring her to release the financial statements without correcting the errors. What should Ms. Rao do?
A) Release the financial statements without correcting the errors
B) Refuse to release the financial statements until the errors are corrected
C) Report the issue to the audit committee and seek their guidance
D) Resign from the company to avoid conflict
Answer:
_Board of Directors_
1. Case Study:
The board of directors of a company is considering a proposal to pay a large bonus to the CEO, despite the company's poor financial performance. What should the board do?
A) Approve the bonus payment without questioning the CEO's performance
B) Reject the bonus payment due to the company's poor financial performance
C) Request additional information about the CEO's performance and the company's financial situation before making a decision
D) Delegate the decision to the compensation committee
Answer:
1. Case Study:
The board of directors of a company discovers that the CEO has been engaging in insider trading. What should the board do?
A) Terminate the CEO's employment contract immediately
B) Conduct an investigation into the CEO's activities before taking any action
C) Request the CEO to resign voluntarily
D) Take no action and allow the CEO to continue serving
Answer:
_Audit Committee_
1. Case Study:
The audit committee of a company discovers that the company's financial statements contain material errors that could mislead investors. What should the audit committee do?
A) Request the management to correct the errors and reissue the financial statements
B) Conduct an investigation into the causes of the errors
C) Report the issue to the board of directors and seek their guidance
D) Take no action and allow the financial statements to remain unchanged
Answer:
1. Case Study:
The audit committee of a company receives a whistleblower complaint alleging that the company's management has been engaging in fraudulent activities. What should the audit committee do?
A) Conduct an investigation into the allegations immediately
B) Report the issue to the board of directors and seek their guidance
C) Request the management to investigate the allegations and report back to the audit committee
D) Take no action and dismiss the whistleblower complaint as unfounded
Answer:
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