Define business ethics and give some examples of the types of situations in which ethical issues might arise in a business setting
Business ethics is a subset of ethics and a branch of applied ethics. It is the study and determination of what is right and good in business settings. Business ethics seeks to understand the moral issues that arise from business practices, institutions, and decision making. Issues of business ethics might arise in the employment relationship (safety, compensation of employees, privacy, equal treatment, freedom from sexual harassment, whistle-blowing), in the relationship between a business and its customers (marketing techniques, product safety, consumer protection), the relationship between a business and its owners (corporate governance, shareholder voting, management's duties to shareholders), the relationship among competing businesses (fair competition, effects of collusion), the interaction between business and society (pollution, commitment to the community's infrastructure, depletion of natural resources), and international relations (bribery of foreign officials, exploitation of less-developed countries, conflicts among different cultures and value systems).
You might also like to view...
The inner city is a
A. low-income commercial area within a small city. B. high-income commercial area within a large city. C. high-income commercial area within a small city. D. low-income residential area within a large city. E. high-income residential area within a small city.
A(n) __________ is an intended beneficiary of a contract who receives the benefits of the contract as a gift
a. incidental beneficiary b. intended beneficiary c. assignor d. donee beneficiary
Which of the following is NOT one of the four key tasks that Wheeled Coach insists are necessary for successful MRP implementation?
A) The material plan must meet both schedule requirements and facility capabilities. B) The plan must be executed as designed. C) Inventory investment must be minimized. D) Excellent record integrity must be maintained. E) The process must adhere to stringent quality control standards.
Describe how present and future values concepts apply to your income and expenses and ultimately your personal budget, income statement, and balance sheet
What will be an ideal response?