Question

Which one of the following is not true about business ethics?

• A. Business ethics is a universal and absolute concept
• B. Business ethics is based on well accepted moral and social values
• C. Business ethics is a code of conduct which businessmen should follow while conducting their normal activities
• D. Business ethics give protection to customers and other social groups related to a firm.

Answer 1

Answer: (A)

Business ethics is a universal and absolute concept

Ethics is a conception of right or wrong conduct. Ethics tells us when our behavior is moral and when it is immoral. It deals with the fundamental human relationship, how we think and behave towards others and how we want them to think and behave towards us.

Ethical principles are universal in nature. They prescribe obligations and virtues for everybody in a society. They are important not only in business and politics but in every human endeavor.

There exist no sharp boundaries between ethical and non-ethical. Therefore, people often face ethical dilemmas wherein a clear cut choice becomes very difficult.