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Question
State with reason whether the following statement is true or false.
Business ethics can be considered as a tool for social development.
Options
True
False
Solution
Business ethics can be considered as a tool for social development. True
Explanation:
Business ethics are the principles which, if business units follow, not only lead to the development of business units but also to the growth of the whole economy. Thus, contributing to social development.
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| Group “A” | Group “B” | ||
| a. | Responsibility to owners |
1 | Good working condition |
| b. | Consumers | 2 | Branch of philosophy |
| c. | Responsibility to investors |
3 | To serve society |
| d. | Economics objective | 4 | To help small scale industry |
| e. | Business ethics | 5 | Earning foreign exchange |
| 6 | Creating goodwill | ||
| 7 | Branch of social science | ||
| 8 | To earn profit | ||
| 9 | To maintain transparency |
||
| 10 | Good quality product |
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