Advertisements
Advertisements
Question
Justify the following statement.
Business ethics contains moral and social values for doing business.
Solution
- Business Ethics refers to the code of conduct that a business organization is expected to follow while doing business. According to "Wheeler', "Business ethics is an art or science of maintaining a harmonious relationship with society, its various groups, and institutions as well as recognizing the moral responsibility for right or wrong conduct of business.' "
- Moral values are based on perceptions of right and wrong. They provide the general guidelines for distinguishing between wrong and right path of business, between good and bad, fair and unfair, just and unjust, legal and illegal, proper and improper in respect to human actions. Ethics contain moral values for doing business, Honesty, transparency, fairness, integrity, etc. are moral values that create goodwill and gives an economic gain in the long run.
- Social values form an important part of the culture of the society. They provide general guidelines for social conduct. Values such as fundamental rights, patriotism, respect for human dignity, rationality, sacrifice, equality, democracy, etc. influence our behavior in many ways. These social values made the business socially acceptable. As business is a part of society, it can be successful in the long run by adopting social values.
APPEARS IN
RELATED QUESTIONS
Businessmen are ______ of the society.
Answer in a word / phrase / term.
A set of Principles of right conduct.
State Whether the Following Statement Are True Or False (Give Reason)
Business ethics is not applicable to all business organizations.
Business ethics is a branch of .................... science.
Business is a ________ activity.
Write a word or phrase or a term which can substitute the following.
Rules of standards dealing with morality in business environment.
Write a word or phrase or a term which can substitute the following.
An element of business ethic in which opinions and feedbacks from clients are considered.
Write a word or phrase or a term which can substitute the following.
The critical, structured examination of how people and institutions behave in the world of commerce.
Write short note on the following.
Features of business ethics.
'Business is essentially a social institution and not merely a profit making activity'. Explain.
The business should offer adequate opportunities of promotion to their ______.
The term 'Ethics' is derived from the ______ word 'Ethos' which means character.
Business ethics refers to the ______ system of principles.
Business ethics is a code of conduct.
Answer in one sentence.
Who can raise voice against business malpractices?
Correct the underlined word and rewrite the sentence.
Financial help should be provided by business organizations for anti-social activities.
Explain the following term/concept.
Business ethics
Explain the following term/concept.
Moral Values
Explain the following term/concept.
Social values
What is business ethics?
Describe the features of business ethics.
Choose the Correct Answer.
Which of the following helps in maximizing the sale of goods to society?
Choose the Correct Answer.
Which of the following does not ensure effective ethical practices in a business enterprise.
What is ethics?
What do you mean by code?
State two ways by which ethics influences behaviour?
Define business ethics.
What do you mean by the concept of business ethics?
