Question

What is true of the Caux Round Table?

a) It is an international organization of experienced senior business executives using a modern adaptation of King Arthur’s Round Table to promote ethics and chivalry in business practices.
b) The Caux Round Table contains a standard or Kyosei, which encourages managers and employees to recognize their shared responsibility to contribute to the organization’s success.
c) The Caux Round Table provides seven different Principles for Responsible Business but does not provide guidelines for management and employees.
d) The ultimate goal of the Caux Round Table is to promote wise, clever, and productive business strategies that will make businesses profitable

Answer 1

The Caux Round Table (CRT) is an organization that promotes ethical business practices, encourages shared responsibility within organizations, and aims for a harmonious society through responsible and sustainable capitalism. It is not focused simply on profitability, but rather on integrating ethical considerations into business decision-making.

Step-by-step explanation:

The Caux Round Table (CRT) is an international network of experienced business leaders who aim to promote ethical business practices. The CRT is not simply utilizing a modern adaptation of King Arthur’s Round Table for promoting ethics and chivalry in business, which makes option 'a' incorrect. Instead, it is notable for its development of a set of guidelines known as the Caux Round Table Principles for Responsible Business, which integrate ethical considerations into business decision-making.

The Principles for Responsible Business do, in fact, provide guidelines for how managers and employees should act to ensure the organization’s success. This directly aligns with option 'b', which mentions the CRT “Kyosei” standard, encouraging recognition of shared responsibility among all members of an organization to contribute to its success. The CRT does offer seven principles, and these are intended to guide businesses in their operations, thus contradicting option 'c'.

While making a business profitable could be an outcome of implementing CRT principles, portraying the CRT's ultimate goal as solely promoting business strategies for profitability is not accurate. Therefore, option 'd' does not fully represent the purpose of the CRT. The goal of the CRT is more about seeking a harmonious society where ethical business practices contribute to the well-being of all individuals and the achievement of a responsible and sustainable form of capitalism.