Challenges MCQ Quiz - Objective Question with Answer for Challenges - Download Free PDF

The correct answer is - Indemnity

Key Points

• Indemnity is not considered an ethical principle because:
  • It primarily refers to a legal or financial agreement to compensate for damages or losses rather than a moral or ethical guideline.
  • Ethical principles focus on guiding moral behavior, such as fairness, honesty, and avoiding harm, which are not directly addressed by indemnity.
• The other options listed (e.g., Sacredness of means and ends, Not to do any evil, and Equivalent price) reflect moral considerations and ethical reasoning, which are core to ethical principles.

Additional Information

• Ethical Principles
  • Ethical principles are guidelines that help individuals distinguish between right and wrong actions.
  • Examples of ethical principles include:
    • Sacredness of means and ends: Emphasizes that both the means and the outcomes of actions must be morally acceptable.
    • Not to do any evil: Focuses on avoiding harm and wrongdoing.
    • Equivalent price: Reflects fairness in exchanges and transactions.
• Indemnity
  • In contrast, indemnity is a legal or financial term that refers to compensation for a loss, damage, or liability.
  • It is common in contracts, insurance policies, and legal agreements but does not inherently relate to ethical behavior.
• Relevance to Exams
  • Understanding the distinction between ethical principles and legal/financial concepts like indemnity is crucial for questions testing moral reasoning or professional ethics.
  • Focus on identifying whether a concept aligns with guiding moral behavior or is more technical/legal in nature.

Instrumentality performance will result in the attainment of outcomes. The expectancy theory says that individuals have different sets of goals and can be motivated if they have certain expectations. In organizational behavior study, expectancy theory is a motivation theory, first proposed by Victor Vroom of the Yale School of Management in 1964.

Balanced Scorecard (BSC):

• A balanced Scorecard refers to a strategic planning and management system used to identify, modify and control various internal business functions and their resulting outcomes.
• The concept was first developed by two management gurus, one of them is a famous professor from Harvard Business School, Dr. Robert Kaplan; and business executive and theorist Dr. David Norton.
• The Harvard Business Review first published about it in the 1992 article, "The Business Scorecard--Measures That Drive Performance".
• Both Kaplan and Norton worked on a year-long project involving 12 top-performing companies and their study took previous performance measures and adapted them to include non-financial information.
• A business scorecard is meant to measure the intellectual capital of a company, such as skills, training, knowledge, and any other proprietary information that can give it a competitive advantage in the market.
• This model reinforces good behavior in an organization by isolating four separate areas that need to be analyzed.

These four areas/characteristics are as follows:

1. Learning & Growth:
   • Learning and growth are analyzed through the investigation of training and knowledge resources.
   • This area handles how well information is captured and how effectively the staff is able to use that information to convert it into a competitive advantage.
2. Internal Processes / Business Processes:
   • Internal business processes are evaluated by investigating how well products are manufactured.
   • Operational management is analyzed to track any gaps, delays, bottlenecks, shortages, or waste.
3. ​Customer Perspective:
   • Customer perspectives ​​are collected to gauge customer satisfaction with the quality, price, and availability of products or services.
   • Customers give feedback about their satisfaction with current products.
4. ​Financial Data:
   • ​​Financial Data such as sales, expenditures, and income are used to understand financial performance.
   • These financial metrics can include dollar amounts, financial ratios, budget variances, or income targets.

Therefore, from the above explanation, we can conclude that external is not a performance measure aspect of the Balanced Scorecard Incentive Concept.

Instrumentality performance will result in the attainment of outcomes. The expectancy theory says that individuals have different sets of goals and can be motivated if they have certain expectations. In organizational behavior study, expectancy theory is a motivation theory, first proposed by Victor Vroom of the Yale School of Management in 1964.

The correct answer is - Indemnity

Key Points

• Indemnity is not considered an ethical principle because:
  • It primarily refers to a legal or financial agreement to compensate for damages or losses rather than a moral or ethical guideline.
  • Ethical principles focus on guiding moral behavior, such as fairness, honesty, and avoiding harm, which are not directly addressed by indemnity.
• The other options listed (e.g., Sacredness of means and ends, Not to do any evil, and Equivalent price) reflect moral considerations and ethical reasoning, which are core to ethical principles.

Additional Information

• Ethical Principles
  • Ethical principles are guidelines that help individuals distinguish between right and wrong actions.
  • Examples of ethical principles include:
    • Sacredness of means and ends: Emphasizes that both the means and the outcomes of actions must be morally acceptable.
    • Not to do any evil: Focuses on avoiding harm and wrongdoing.
    • Equivalent price: Reflects fairness in exchanges and transactions.
• Indemnity
  • In contrast, indemnity is a legal or financial term that refers to compensation for a loss, damage, or liability.
  • It is common in contracts, insurance policies, and legal agreements but does not inherently relate to ethical behavior.
• Relevance to Exams
  • Understanding the distinction between ethical principles and legal/financial concepts like indemnity is crucial for questions testing moral reasoning or professional ethics.
  • Focus on identifying whether a concept aligns with guiding moral behavior or is more technical/legal in nature.

Learning and Growth are not a performance measure aspect of the Balanced Scorecard Incentive Concept. The balanced scorecard (BSC) is a strategy performance management tool – a semi-standard structured report, supported by design methods and automation tools that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.

Job enrichment implies increasing the contents of a job or the deliberate upgrading of responsibility, scope and challenge in work. It is totally different from only adding number of tasks in the job. It is to enhance the effectiveness of the job.

Someone delivering a speech offends your religious beliefs. This is likely to result in emotional noise.

Internal factors are the needs and desires of individuals, individual personality and experience. The external factors which influence the perception are size, Intensity, frequency, status etc.