Ethical standards provide sound, practical advice for managers. Most of the rules in the ethical standards are motivated by a very practical consideration: if these rules were not followed in business, then the economy and all of us suffer.

Question

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Ethical standards guide managers to make decisions that not only benefit their organization but also ensure the well-being of society and the economy as a whole. Thus, following ethical standards is in everyone's best interest.

Ethical Standards Provide Sound, Practical Advice for Managers