Question

Which of the following is a feature of business ethics?

• A. Business ethics is based on well accepted moral and social values
• B. Practice of business ethics give protection to corporate and not to consumers
• C. Business ethics provide road map to earn more profit in today's competitive world
• D. All the above

Answer 1

The correct option is A Business ethics is based on well accepted moral and social values

Ethics refers to well-founded standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues.

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.