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Business Studies

Ways of Consumer Protection

State the sig...

Question

State the significance of ethics for a business entity.

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 A To keep its commitment to society to act ethically.
A business should be practicing ethics because, to survive in the market, every enterprise needs to keep its commitment to society welfare. Only earning profits cannot leads to the growth if it does not focus on social welfare.

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