What is the importance of ethics for an entrepreneur?
Answer and explanation
Correct answer: It builds trust, long-term relationships, and reputation
Business ethics guides decisions about honesty, fairness, responsibility, and respect for stakeholders. Ethical conduct encourages customers, employees, suppliers, and investors to trust the enterprise, supporting lasting relationships and a good reputation. It may require responsible investment, but it is not merely an added cost and never permits cheating or rule-breaking. Hence, option A is correct.
Frequently asked questions
What is the correct answer to this question?
It builds trust, long-term relationships, and reputation
Why is this the correct answer?
Business ethics guides decisions about honesty, fairness, responsibility, and respect for stakeholders. Ethical conduct encourages customers, employees, suppliers, and investors to trust the enterprise, supporting lasting relationships and a good reputation. It may require responsible investment, but it is not merely an added cost and never permits cheating or rule-breaking. Hence, option A is correct.
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.
