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AEREN FOUNDATION’S Maharashtra Govt. Reg. No.: F-11724
Name : Marks : 80
Course : Masters in Business Administration (MBA 4 Sem)
Subject : Business Ethics
Answer the following question.
Q1. Explain need for a check on quackery.(10marks)
Answer: Health fads and promises of better health or cures to ailments outside of traditional medicine are typically forms of quackery. In this lesson, we will define quackery and provide tips for how to recognize these false healthcare claims.
Definition of Quackery
Jane’s sister Betty is one of those people who seem to hang onto every word and promise made about the latest health fad out there.
Q2. Write a note on Consumer Safety. (10 marks)
Answer: The Consumer Protection Act, implemented in 1986, gives easy and fast compensation to consumer grievances. It safeguards and encourages consumers to speak against insufficiency and flaws in goods and services. If traders and manufacturers practice any illegal trade, this act protects their rights as a consumer. The primary motivation of this forum is to bestow aid to both the parties and eliminate lengthy lawsuits.
Q3. Give a note on Human culture. (10 marks)
Answer: Culture is the patterns of learned and shared behavior and beliefs of a particular social, ethnic, or age group. It can also be described as the complex whole of collective human beliefs with a structured stage of civilization that can be specific to a nation or time period. Humans in turn use culture to adapt and transform the world they live in.
This idea of Culture can be seen in the way that we describe the Ashanti, an African tribe located in central Ghana. The Ashanti live with their
Q4. What is imperative need? (10 marks)
Answer: An ethical imperative is a belief or principle which is perceived as extremely morally necessary. This intensely-felt moral code motivates a person to act accordingly. For instance, fidelity is an ethical imperative in marriage which inspires husbands and wives to be true to their marriage vows.
How do you find quality as an ethical imperative?
Quality as an Ethical Imperative
- Principle–Doing the right thing the right way implies a standard of excellence.
- Purpose–Intending to do the right thing the right way is clearly ethical.
What is imperative need in business ethics?
A business imperative is a major
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Case Studies
CASE STUDY (20 Marks)
Share price rigging is rampant during bull runs. To see how it happens, let’s check the modus operandi. The main form which evolved during Harshad Mehta’s time, involves three participants – promoters, operator and a broker syndicat There are ancillary participants like fake bill-sellers, and also perhaps unscrupulous auditors and officials. The promot first finds an operator or vice versa. The promoter should be interested in bumping up the share price, the motivation f which could vary from the basic – offloading his stake at a high price to gullible retail investors – to the more advanced which comprises complex needs like getting better validation for a GDR issue or in an M & A. it works like this: t promoters commit to the operator not to sell the market while the operation is on. He gives about 10% of his stake to t operator of companies affiliated to the brokrs’ syndicate. The syndicate normally comprises 6-10 brokers, ofte dispersed in different cities so as not to arouse suspicion of SEBI or the stock exchange. Their role is to do circu trading which works like this: say broker A sells to B at Rs. 4.5; will sell to C at Rs. 4.65 and so on. The trades a designed to generate the impression of large liquidity. After taking prices to certain level, ‘news flow’ is created. T news is typically about large orders and capacity expansion. These days it is often about an acquisition or restructurin Also, financial results need to show improvement. This is done by buying revenue. There are agents who sell fake bi at a certain commission, which could be between 0.5% and 10%. ET has learnt this market tends to boom at the sam time as share markets. After the price reaches the target, the syndicate exits. The gains are split between the promot operator and syndicate members. In this artificially created bull run, there is a new element: people trying to conve black money to white.
Answer the following question.
Q1. Give an overview of the case.
Answer : Who was Harshad Mehta?
Harshad Mehta was a well-known stock broker, alleged to have manipulated the stock market in 1992 by drawing out funds from banks fraudulently. Some finance experts believe, Harshad Mehta did not commit any fraud, “he simply
Q2. Discuss the ethical issues in this case
He exploited trust. Harshad was a bond broker. Before bonds were traded in dematerialised form, banks exchanged notes (banker’s receipt) promising delivery of the certificates. The money would go into the broker’s account and the broker would distribute the money to the banks that provided the bonds. Not an ideal situation, but one bank could not deal with many banks so the broker played the role of an exchange. Although the broker played a big role they were not recognised by the regulator and the practices continued as a
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CASE STUDY (20 Marks)
When lakhs of people of the quake-hit region in a certain state in India were braving the biting cold under open skie some 100-odd resident doctors of a certain hospital went on a flash strike ignoring more than 70 critically injured qua victims for almost six hour. The hospital didn’t supply blankets or given medical treatment to the quake-injured and oth seriously ill patients as the angry doctors assembled in the hospital compound and chanted slogans, announcing a fla strike that lasted for about six hours. Apparently, a nurse, after locking the room where blankets for doctors were store had forgotten to deposit the keys with the hospital matron. On discovering that there might be no blankets for the night ward off the chill in the special rooms where the doctors had been put up, the latter reportedly gheraoed the matron a the assistant matron and heaped on them the choicest of abuses for the mistake committed by the nurse. When t nurse protested against the abuses, the doctors reportedly demanded that the matron tender an unconditional apology or else they would remain on strike. Nevertheless late in the night, on the day of the strike, the dispute was amicably resolved and the doctors resumed duty. The issue was too minor for the doctors to lay aside all their responsibilities a go on a strike. Misbehaviour of the doctors by striking just when they are most needed is indeed regrettable. A sen. physician associated with the hospital has condemned the irresponsible behavior of the doctors.
Answer the following question.
Q1. Discuss the above case with respect to ethics.
Answer: Doctor and healthcare worker (HCW) strikes are a global phenomenon with the potential to negatively impact on the quality of healthcare services and the doctor-patient relationship. Strikes are a legitimate deadlock breaking mechanism employed when labour negotiations have reached an impasse during collective bargaining. Striking doctors usually have a moral dilemma between adherence to the Hippocratic tenets of the medical profession and fiduciary obligation to patients. In such circumstances the ethical principles of
Q2. Give an overview of the case
Answer: Hippocrates is considered to be the father of medicine. Before being taught medicine, his disciples were made to swear an oath to the Gods of healing of Greek pantheon: Apollo, Asclepius, Hygeia, and Panacea. This was to help them understand the gravity of their situation and what is expected from their conduct as healers. The oath has been in existence from 400 BC.[1] Hippocrates was a philosopher as much as a physician. He considered healing to be a scientific art. The oath sets the standards of conduct at
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