Question

Write short notes on the following.

Features of business ethics.

Answer 1

Features of business ethics:

i. They lay down a code of conduct to govern the activities and behaviour of a business towards society and other businesses.

ii. They are different in different countries.

iii. Irrespective of the size of a business unit, business ethics apply to all organisations.

iv. Business ethics create an atmosphere of healthy and fair competition among business houses.

v. They promote fair practices between business units and competitors, government, employees, suppliers and society.