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Byju's Answer
Standard XII
Business Studies
Legal Environment
Business ethi...
Question

Business ethics is a code of conduct which businessmen should follow while conducting their _______.

A
business operations
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B
discipline
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C
laws
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D
all of above
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Solution

The correct option is A business operations
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 maximise profits against the needs of stakeholders.

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Q. Business Ethics is a code of conduct which society should follow while conducting their social activities.
Q. State with reason whether the following statements are true or false.
1. A business unit is a part of society.
2. Tangible goal of earning profit is the sole objective of business.
3. Expectations of society and public towards business are changing.
4. Business organization can use natural resources as they want.
5. Business organization can participate in solving complex social problems.
6. Role of media exerts major influence on business organization.
7. Business should not disclose their records to investors.
8. Providing career opportunities to employees is the responsibility of business.
9. Management should avoid worker's participation while making decisions.
10. Business organization is not liable to control pollution.
11. Business organization cannot contribute to raise standard of living of society.
12. Ethics is a branch of politics.
13. Business ethics are applicable to all business organizations.
14. Every business organization should pay attention to business ethics while conducting their activities.
15. Business ethics can be considered as a tool for social development.
16. Introducing Environment Management techniques benefit business organization.
17. Business and environmental protection are contradictory.
Q. It was decided that every business should have a written ethics code. This shows.
Q. Which of the following is feature of business ethics ?
(1) Business ethics has a universal application.
(2) It is a relative norm. It differs from business to business.
(3) Business ethics is based on well accepted moral and social values.
Selectthecorrectanswerfromtheoptionsgivenbelow−
Q.

Which is not a reason a business engages in business ethics?


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