Question

Business ethics is based on well accepted __________.

• A. moral and social values
• B. social values only
• C. moral values only
• D. none of the above

Answer 1

The correct option is A moral and social values

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 maximise profits against the needs of stakeholders. The significant issues in business ethics include ethical management of enterprise in relation to its stakeholders in particular and natural environment in general.