Why are ethical decisions important in business?
Answer and explanation
Correct answer: To maintain trust and fair conduct
Ethical decisions apply honesty, fairness, transparency, and responsibility when dealing with customers, employees, suppliers, owners, and society. Such conduct supports trust, reputation, sustainable relationships, and compliance with applicable rules. Fraud, concealment, and deliberate disregard for regulations may produce a short-term advantage for someone, but they are unethical and can cause harm and loss of trust.
Frequently asked questions
What is the correct answer to this question?
To maintain trust and fair conduct
Why is this the correct answer?
Ethical decisions apply honesty, fairness, transparency, and responsibility when dealing with customers, employees, suppliers, owners, and society. Such conduct supports trust, reputation, sustainable relationships, and compliance with applicable rules. Fraud, concealment, and deliberate disregard for regulations may produce a short-term advantage for someone, but they are unethical and can cause harm and loss of trust.
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.
