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1. Questions for Mid-term Exam
(June 13th & 20th , 2023 )
1. What do you understand by the term “an ethical business”?
2. What do you think makes a really good negotiator?
3. Is free trade always a good thing, in your opinion?
4. What is the difference between a manager and a leader?
5. What sort of problems do business leaders have to deal with? Give two examples.
6. Are there differences between men and women as leaders? Why have most great
leaders been men?
1. "An ethical business" is a term used to describe a company or organization that
operates in a manner that is consistent with moral and ethical standards. Such a
business would prioritize doing the right thing, treating employees fairly, being
transparent about its activities, and being accountable for its actions. For example,
an ethical business would adhere to labor laws and human rights standards, avoid
engaging in bribery or corruption, and prioritize environmental sustainability. An
example of an ethical business is Patagonia, a company that prioritizes
sustainability and ethical practices, such as using organic materials and investing in
renewable energy. Patagonia is also transparent about its supply chain and ensures
fair labor practices for its workers. Overall, an ethical business is one that does the
right thing while also being successful.
2. A really good negotiator is someone who is skilled at communicating effectively,
building relationships, and finding creative solutions to complex problems. They
are able to listen actively, understand the needs and interests of all parties involved,
and come up with win-win solutions. Good negotiators are also able to remain calm
and composed under pressure, and they know how to use leverage and power
effectively without resorting to coercion or manipulation.
3. Free trade can be beneficial in terms of promoting economic growth and creating
new opportunities for businesses and consumers. However, it can also lead to job
losses, environmental degradation, and social inequality if not managed properly.
In my opinion, free trade can be a good thing if it is accompanied by fair labor
standards, environmental protections, and social safety nets to help those who may
be negatively affected by trade agreements.
4. The main difference between a manager and a leader is that a manager focuses on
organizing and controlling resources to achieve a specific set of goals, while a
leader focuses on inspiring and motivating people to work towards a shared vision
or purpose. Managers are responsible for planning, organizing, staffing, directing,
and controlling resources to achieve specific outcomes, while leaders are
responsible for providing direction, aligning values, and inspiring people to achieve
their best.

2. 5. Business leaders have to deal with a wide range of problems, including financial
challenges, changing market conditions, technological disruptions, talent
management, and stakeholder expectations. For example, a business leader may
have to navigate a merger or acquisition, implement a new technology platform,
manage a crisis situation, or develop a new marketing strategy to stay competitive.
They may also have to address issues related to corporate social responsibility, such
as environmental sustainability, labor practices, and community engagement.
6. There are differences between men and women as leaders, but these differences are
more about socialization and cultural expectations than inherent differences in
ability or temperament. Historically, most great leaders have been men because of
systemic barriers that have prevented women from accessing leadership positions
and developing their leadership skills. However, there is growing recognition of the
value of diverse leadership and the need to promote gender equality in the
workplace. When given equal opportunities and support, women can be just as
effective as men as leaders.