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    Please Read the Following Terms and Conditions:
    1. A total of 15 questions comprising 10 MCQ and 5 Comprehension.
    2. Time duration 45 mins.
    3. All questions are mandatory.
    4. Test is for 45 Marks carrying No Negative marking. Incase you close the browser, the test will be saved and cannot be reattempted or reviewed.


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    • Diversified board

    • Staggered board

    • Rotating board

    • Declassified board


    • Are formal statements that describe what an organization expects of its employees

    • Become necessary only after a company has been in legal trouble

    • Are designed for top executives and managers, not regular employees

    • Rarely become an effective component of the ethics and compliance program


    • Risk analysis

    • Stakeholder analysis

    • Green washing

    • Strategic sustainability auditing


    • Increased government regulation of business disputes

    • The desire for faster and more cost-effective dispute resolution

    • A decline in the quality of the judicial system

    • A shift towards more adversarial business practices


    • Corporate governance can temper growth

    • Good corporate governance can result in excessive risk-taking

    • Corporate governance often result in prompt and effective decision-making

    • The aim of corporate governance is to protect the interests of shareholders and the local economies


    • He may enter in to a contract when he is of sound mind,

    • He may not make a contract even when he is of sound mind

    • He cannot enter into a contract at all.

    • None of the above


    • Faster resolution of disputes

    • Lower costs compared to litigation

    • Mutually agreeable outcomes

    • Binding decisions on both parties


    • By making ADR mandatory for all disputes B

    • By training employees on the benefits of ADR C

    • By including ADR clauses in contracts

    • By both B and C


    • Sample

    • Description

    • Both sample and description

    • Either sample or description


    • Organisational social responsibility

    • Organisational social responsiveness

    • Corporate obligation

    • Business ethics


    Comprehension Passage: Supply Chain Disruption and Business Response

    Explore the legal, strategic, and practical implications of supply chain disruptions and learn how companies can build resilience and competitiveness in dynamic markets through effective risk management strategies.

    In 2000, a fire at the Philips microchip plant had significant repercussions on telephone manufacturers Nokia and Ericsson. While both companies faced supply chain disruptions, their responses differed greatly. Ericsson, having tied up its key components in a single source, chose to wait for the issue to resolve itself. In contrast, Nokia took proactive measures to mitigate the impact by sourcing spare chips from alternative plants and suppliers and re-engineering their phones to accommodate different chips. As a result, Nokia emerged relatively unscathed, while Ericsson experienced months of lost production and sales, ultimately leading to its withdrawal from the mobile phone business and allowing Nokia to dominate the European market. This incident serves as a valuable lesson in supply chain risk management.

    Passage Questions:

    • Ensuring clear delineation of responsibilities and liabilities; structuring contracts to include clauses for alternative sourcing and force majeure events

    • Prioritizing cost savings in contracts; incorporating penalties for delays and quality issues

    • Exclusively partnering with single-source suppliers to streamline operations; avoiding complex contractual arrangements

    • Ignoring legal considerations and focusing solely on operational efficiencies


    • Nokia's proactive measures demonstrate a focus on agility and flexibility, while Ericsson's reactive approach highlights a lack of risk assessment and preparedness

    • Both Nokia and Ericsson exhibited similar strategic approaches, emphasizing cost-cutting measures and operational efficiency

    • Ericsson's decision to wait for the issue to resolve itself showcases a strategic commitment to long-term partnerships, while Nokia's actions suggest short-term opportunism

    • Neither Nokia nor Ericsson effectively managed the supply chain disruption, indicating systemic flaws in their risk management processes


    • The importance of prioritizing short-term gains over long-term sustainability

    • The necessity of diversifying suppliers and implementing robust contingency plans

    • The benefits of relying solely on single-source suppliers for cost efficiency

    • The insignificance of supply chain disruptions in the overall business landscape


    Comprehension Passage: The Rise of Big Tech

    Explore the legal and business implications of the rise of Big Tech and understand the strategies needed to address challenges and compete effectively in the rapidly evolving tech landscape.

    In the 20th century, IBM and Microsoft held a dominant position in the IT industry. However, the dot-com bubble burst resulted in the expansion of market share for surviving tech startups, leading to their dominance in specific markets. The term "Big Tech" emerged around 2013 as economists speculated that the lack of regulation could result in concentrated market power. This term gained popularity following investigations into Russian interference in the 2016 US elections, as tech companies with access to vast amounts of data were seen to influence users. The concept of "Big Tech" draws parallels to previous eras, such as the designation of "Big Oil" during the 1970s energy crisis and "Big Tobacco" as Congress sought to regulate those industries. Similarly, in the early 21st century, a small number of corporations came to dominate the mainstream media, leading to the term "Big Media" or "Media Giants."

    Let's delve into the implications and dynamics surrounding the emergence of Big Tech:

    Passage Questions:

    • Potential violations of consumer privacy rights; regulators may impose fines and penalties for data misuse

    • Threats to fair competition and innovation; regulators may enforce stricter antitrust laws and break up monopolies

    • Challenges in cybersecurity regulation; regulators may collaborate with industry stakeholders to develop industry standards

    • Risks of intellectual property theft; regulators may implement stricter patent laws and enforcement measures


    • They stifle competition and innovation by controlling access to essential platforms; smaller firms can differentiate through niche markets and innovation

    • They promote healthy competition by investing in research and development; smaller firms can collaborate with Big Tech for mutual benefits

    • They encourage monopolistic practices to maintain market dominance; smaller firms can lobby for regulatory reforms and government intervention

    • They foster a level playing field for all players in the industry; smaller firms can leverage agility and flexibility to outmaneuver Big Tech


    Comprehension Passage: Regulations in South Korea's Online Gaming Industry

    Explore the implications of regulations on the online gaming industry and understand the measures needed to ensure compliance and address challenges effectively.

    South Korea has implemented comprehensive regulations to govern its online gaming industry, aiming to protect consumers, ensure fair competition, and address issues such as addiction and underage access. Key aspects of these regulations include age restrictions, addiction prevention measures, licensing requirements, oversight of microtransactions and loot boxes, cybersecurity protocols, and esports regulation. These regulations collectively promote responsible gaming, consumer protection, and the growth of the gaming sector in South Korea. Let's explore the implications and challenges of these regulations:

    Passage Questions:

    • Increased revenue from younger players

    • Improved brand reputation and trust

    • Enhanced consumer protection and responsible gaming

    • Decreased accessibility and market reach


    • Through self-regulation by gaming companies; challenges may include lack of resources for enforcement

    • Through government oversight and penalties for non-compliance; challenges may include evasion and loopholes

    • Through community policing by online gamers; challenges may include lack of authority and consistency

    • Through international cooperation; challenges may include jurisdictional issues and cultural differences


    Comprehension Passage: Starbucks' Strategic Challenges

    Explore the legal and strategic dimensions of Starbucks' decisions and learn how businesses navigate challenges to maintain their competitive edge in the market.

    In 2008, Starbucks announced the closure of 600 US stores. Prior to this decision, Starbucks had introduced new offerings like Wi-Fi and music sales, but had begun to lose its cozy "neighborhood store" ambiance in favor of a more generic chain store identity. Harvard Business Review (HBR) suggests that Starbucks, as a mass brand, was attempting to command a premium price for an experience that was no longer unique. To address this, Starbucks would need to either reduce costs or scale back on stores to restore its brand exclusivity. HBR's case study identifies three issues contributing to Starbucks' challenges: alienating early adopters, pursuing too broad of an appeal, and shallow growth through expansion of new stores and products. Harvard recommends that Starbucks should have remained private and grown at a controlled pace to preserve its status as a premium brand. Let's delve deeper into these challenges:

    Passage Questions:

    • In terms of its impact on competitor coffee chains

    • Regarding contractual obligations to employees and landlords

    • Regarding potential copyright infringement issues

    • In relation to environmental regulations


    • Protection of intellectual property rights

    • Compliance with health and safety regulations

    • Mitigation of risks and liabilities to stakeholders

    • Expansion of franchising agreements


    • They enhance brand loyalty and customer engagement

    • They reinforce Starbucks' reputation as a premium brand

    • They challenge Starbucks' uniqueness and exclusivity

    • They boost profitability and market share


    • Accelerating store expansion and diversification of product offerings

    • Remaining private and slowing growth to maintain brand exclusivity

    • Decreasing prices to attract a broader customer base

    • Ignoring early adopters and focusing solely on mainstream consumers


    Comprehension Passage: Analyzing Lebanon's Financial Crisis from an Economic and Business Perspective

    Lebanon is facing a severe financial crisis, similar to the 1975-90 civil war, affecting businesses, investors, and stakeholders. The crisis is characterized by the devaluation of the Lebanese pound, high unemployment rates, and widespread poverty. This poses significant challenges for businesses involved in international trade, import-export operations, and foreign currency transactions. Inflationary pressures have also eroded consumer purchasing power, further exacerbating the situation.

    The economic instability in Lebanon has impacted investor confidence, dissuading potential investments and hindering economic growth. Multinational corporations with operations in Lebanon face operational challenges, including currency exchange risks and supply chain disruptions.

    The policy response to the crisis is crucial for shaping the economy and business environment. Key measures, such as debt restructuring and negotiations with international financial institutions, are closely monitored by businesses seeking stability and predictability.

    The market dynamics have been reshaped by the crisis, with industries reliant on imports facing challenges and sectors catering to domestic demand finding growth opportunities. Businesses must adopt adaptive strategies to navigate the challenging operating environment effectively.

    Passage Questions:

    • It reduces import costs and enhances profitability

    • It increases currency exchange risks and complicates foreign transactions

    • It encourages foreign investment and stimulates economic growth

    • It facilitates access to foreign markets and promotes export competitiveness


    • It boosts investor confidence and attracts foreign capital inflows

    • It diminishes investor confidence and deters potential investments

    • It diversifies investment opportunities and fosters market resilience

    • It stabilizes financial markets and promotes risk-taking behavior


    • They create a favorable regulatory environment for business expansion

    • They introduce incentives for foreign direct investment and market liberalization

    • They mitigate economic risks and enhance business resilience

    • They influence market stability and business operating conditions


    • Challenges include limited access to financing, while opportunities arise from increased consumer spending

    • Challenges include supply chain disruptions, while opportunities arise from shifting consumer preferences

    • Challenges include regulatory uncertainty, while opportunities arise from stable market conditions

    • Challenges include declining demand, while opportunities arise from competitive pricing


    • Pursue aggressive expansion strategies and maximize short-term profits

    • Maintain status quo and wait for economic conditions to stabilize

    • Embrace strategic agility and resilience through diversification and innovation

    • Implement cost-cutting measures and reduce investments in technology



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