Which of the following best describes business ethics?
A) laws and regulations that govern business
B) the application of moral standards to business situations
C) a good theory but rarely practised
D) well-defined rules for appropriate business behaviour

Question

Quizplus · Accepted Answer

Business ethics refers to the application of moral and ethical principles to business situations. It involves making decisions that consider the well-being of all stakeholders, including employees, customers, and the community, and avoiding behavior that is considered questionable or unethical. While laws and regulations can provide a framework for ethical behavior, business ethics goes beyond legal compliance and encourages companies to do the right thing, even when it may not be required by law. While there may be some variability in the extent to which businesses practice good ethics, it is a critical aspect of responsible business behavior.

Which of the Following Best Describes Business Ethics