Why is business ethics important? Please select all that apply.

a.

business has greater power and influence in society than ever before.

b.

business has the potential to provide a major contribution to our societies.

c.

all of the above.

d.

business malpractices have the potential to inflict enormous harm on individuals, communities and the environment business continues to violate ethics, across countries and sectors.

What is business ethics?

a.

defined as decisions organisations make on issues that could be considered right or wrong

b.

ethics that can be applied to an organisations practices

c.

ethical processes businesses use in order to achieve a good ethical standard

d.

the study of business situations, activities, and decisions where issues of right and wrong are addressed

Crane and Matten define business ethics as the study of business situations, activities, and decisions where maximizing profit is reconciled with societys expectations and issues of right and wrong are addressed.

a.

all of the above

b.

examples of corporate malfeasance are highlighted.

c.

questions are raised about corporate motivations.

d.

the study of bad and good

Business decisions makers should follow all of these guidelines to be socially responsible except:

a.

the social cost of each product should be applied to the companys pricing system

b.

businesses should operate as a two-way open system

c.

businesses are ethically required to produce the safest product regardless of cost

d.

businesses have a social role of trustee for societys resources