Business Studies

Which of the following is/are correct statements?


ANSWER

Business ethics is applicable to all types of businesses


SOLUTION
Business ethics have universal approach and applicable to all class or types of company.
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.
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