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Business Studies

Meaning of Ethics

State as to w...

Question

State as to why business should behave ethically?

A

To unprotect its own interest and of the business community as a whole

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B

To keep its commitment to society to act ethically

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C

To not meet stakeholder expectations

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D

To build distrust with key stakeholder groups

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Solution

The correct option is B To keep its commitment to society to act ethically
An organization has to be ethical in its behaviour because it has to exist in the competitive world. We can find a number of reasons for being ethical in behaviour, few of them are cited below: Most people want to be ethical in their business dealings. Values give management credibility with its employees. Only perceived moral righteousness and social concern brings employee respect. Values help better decision making.

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