Business Studies

Which of the following is a feature of business ethics?


ANSWER

Business ethics is based on well accepted moral and social values


SOLUTION
Ethics refers to well-founded standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues.
Business ethics is one of the important branches of applied ethics. Business ethics is the application of general ethical ideas to business. Business ethics refers to the moral principles and standards and a code of conduct that businessmen are expected to follow while dealing with others. Business essentially is a means of society to use scarce resources to produce in an efficient manner those goods and services which society wants and is willing to pay for. Businesses must balance their desire to maximize profits against the needs of stakeholders.
View Answers

You're just one step away

Create your Digital Resume For FREE on your name's sub domain "yourname.wcard.io". Register Here!


Single Correct Medium Published on 18th 08, 2020
Next Question
Questions 244531
Subjects 8
Chapters 125
Enrolled Students 197
Enroll Now For FREE

Realted Questions

Q1 Single Correct Medium
Select the proper option from the probable option given below and rewrite the complete statements:
Ultimate goal of business must be satisfaction of the _______.
  • A. Shareholders
  • B. Consumers
  • C. Owners
  • D. None of these

Asked in: Business Studies - Social Responsibilities of Business and Business Ethics


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q2 Single Correct Medium
Business Ethics is a code of conduct which society should follow while conducting their social activities.
  • A. True
  • B. False
  • C. Partly true
  • D. None of the above

Asked in: Business Studies - Social Responsibilities of Business and Business Ethics


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q3 Single Correct Medium
Ethics has become important because of _________.
  • A. globalization
  • B. communication explosion
  • C. both (a) & (b)
  • D. none of the above

Asked in: Business Studies - Social Responsibilities of Business and Business Ethics


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q4 Single Correct Medium
The issues of ethics faced by HRM include ________________.
  • A. Facilitation payments
  • B. Securities fraud leading to manipulation of the Financial markets
  • C. Discrimination issues
  • D. All of above

Asked in: Business Studies - Social Responsibilities of Business and Business Ethics


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q5 Single Correct Medium
Ethics has become the buzzword in the corporate world because of __________.
  • A. globalization
  • B. communication explosion
  • C. exploitation
  • D. both (A) and (B)

Asked in: Business Studies - Social Responsibilities of Business and Business Ethics


1 Verified Answer | Published on 18th 08, 2020

View Answer