Ethics

Question 1

it is a set of moral principles or values that govern the actions and decision of an individual or group

Answer 1

Ethics

Question 2

what is ethics?

Answer 2

it is a set of moral principles or values that govern the actions and decision of an individual or group

Question 3

List of Ethical Principles

Answer 3

-Integrity
-honesty
-Trustworthiness and promise keeping
-Loyalty
-Fairness and openness
-Caring for others
-respect for others
-Responsible Citizenship
-Pursuit of Excellence
-Accountability

Question 4

What are the Three Categories of Ethical Principles

Answer 4

1.) Personal Ethics
2.) Professional Ethics
3.) Business Ethics

Question 5

what is Business Ethics

Answer 5

• Refers to standards of moral conduct, behaviour, and judgement in business
  -Based on the personal values and standards of each person engaged in business
  -Covers all conduct, behaviour, and judgement in business
  -All forbidden by law is unethical, but not all law is ethical

Question 6

What is the Main Purpose of Business Ethics

Answer 6

To help business and would-be business to determine what business practices are right and what are wrong

Question 7

What are the Special Purpose of Business Ethics

Answer 7

1. To make businesses realize that they cannot employ double standards to the actions of other people and to their own actions
2. To show businesses that common practices which have been thought to be right because they see other doing it, are really wrong
3. To serve as a standard or ideal upon which business conduct should be based

Question 8

It refers to the requirements and expectations of social and business behaviour, practices, and conduct that are prescribed by social convention, and a code of ethical behaviour among professionals. It basically boils down to demonstrating good manners (Virginia tech, 2024)

Answer 8

Business Etiquette

Question 9

what is Business Etiquette

Answer 9

It refers to the requirements and expectations of social and business behaviour, practices, and conduct that are prescribed by social convention, and a code of ethical behaviour among professionals. It basically boils down to demonstrating good manners (Virginia tech, 2024)

Question 10

Scope and Impact of Business Ethics

Answer 10

▪ Economic Impact
Businesses has economic impact.
▪ Social Impact
The social impact of corporate governance contributes to the ethical climate of society.
▪ Environmental Impact
Environmental protection is a key of business influence on society.
▪ Impact on Business Managers