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Business – Ethics, Governance & Risk
June 2023 Examination
Note: This assignment is application based, you have to apply what you have learnt in this subject into real life scenario. You will find most of the information through internet search and the remaining from your common sense. None of the answers appear directly in the textbook chapters but are based on the content in the chapters, directly or indirectly.
1. What is the ethical principle that underpins risk management concept and how does a listed company’s board manage enterprise risk? Explain with the help of an example from the annual report of any ONE listed co (from NSE top 500 companies by market capitalization) the key initiative taken by the selected company in FY2021-22 to manage ONE financial risk and ONE non-financial risk. (10 Marks)
Answer: The ethical principle that underpins risk management concept is the principle of integrity. Integrity refers to being honest and transparent in all business dealings and ensuring that all stakeholders’ interests are protected. In the context of risk management, integrity means being transparent about the risks a company faces, and taking steps to manage those risks in an ethical and responsible manner.
The board of a listed company is responsible for managing enterprise risk, which refers to the risks that impact the company as a whole. The board’s primary responsibility is to identify the risks that the company faces, evaluate their potential
2. From the Sustainability Report (FY2021-22 or 2022-23) OR Business Responsibility & Sustainability Report (FY2021-22 or 2022-23 Annual report) of any one listed company from across the globe, select any ONE Carbon Emission reduction initiative adopted and practiced by the company. Explain the initiative in your own words and analyse if it is effective/outcome driven or not, if yes provide quantitative proof for the same. (No diagram/graphic or table required). (10 Marks)
Answer: I have selected the Sustainability Report 2021-22 of Unilever, a British multinational consumer goods company, for this question.
One Carbon Emission reduction initiative adopted and practiced by Unilever is their science-based targets. In 2015, Unilever became one of the first companies to commit to the Paris Agreement’s goal of limiting global temperature rise to 1.5
3. a. ‘Professionals such as doctors, accountants and lawyers have a charter/framework of code of conduct, duties and obligations that other people do not.’ Why is that so? Present your point of view with its supporting arguments/reasons. (Two points of view/reasons with explanation is good enough) (5 Marks)
Answer: There are several reasons why professionals such as doctors, accountants, and lawyers have a charter/framework of code of conduct, duties, and obligations that other people do not. Here are two points of view with their supporting arguments/reasons:
1. Specialized Knowledge and Expertise: Professionals like doctors, accountants, and lawyers possess specialized knowledge and expertise that the general public does not have. This knowledge comes from years of
3. b. Choose any one ethical principle from the below list and with the help of a day-to-day work place process or practice showcase how your company/ any company delivers/ does not deliver on the chosen ethical principle. List of ethical principles: Transparency, Fairness, Responsiveness, Dignity. (5 Marks)
Answer: I choose the ethical principle of fairness, which refers to treating all individuals with impartiality and without discrimination. Here’s how a company can deliver or not deliver on the principle of fairness through a day-to-day workplace process or practice:
Example: Recruitment Process
Delivering on fairness in recruitment process: A company can deliver on fairness in recruitment process by implementing a standard and unbiased recruitment process. This means all candidates are treated equally and assessed based on their skills and qualifications, regardless of their gender, ethnicity, or other personal characteristics. This process can involve setting up a job description and selection criteria, which are applied consistently to all applicants, conducting structured interviews with predetermined questions and rating
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