What does ethics mean in entrepreneurship?
Answer and explanation
Correct answer: Conducting business honestly and fairly
Business ethics refers to principles of honesty, fairness, responsibility and respect that guide decisions and conduct. An ethical entrepreneur gives accurate information, treats stakeholders fairly and does not hide important defects or misuse trust. Option A expresses this meaning. Misleading customers, giving false information and concealing quality issues are unethical behaviours.
Frequently asked questions
What is the correct answer to this question?
Conducting business honestly and fairly
Why is this the correct answer?
Business ethics refers to principles of honesty, fairness, responsibility and respect that guide decisions and conduct. An ethical entrepreneur gives accurate information, treats stakeholders fairly and does not hide important defects or misuse trust. Option A expresses this meaning. Misleading customers, giving false information and concealing quality issues are unethical behaviours.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Social Responsibilities of Business and Business Ethics. Topic: Business Ethics.
