Business Management questions and answers

Essay by heldbackCollege, UndergraduateA+, April 2008

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1. Define business ethics. Who determines whether a business activity is ethical? Is unethical conduct always illegal?Business ethics is the principles that determine the acceptable conduct in the business workplace. Customers, competitors, government regulators, interest groups, and the public determine whether a business activity is ethical. No, not all conduct is always illegal.

2. Distinguish between ethics and social responsibility.

Ethics is the conduct that is acceptable in the business area and social responsibility is the business's obligation to make a positive impact on society and lower its negative impacts.

3. Why has ethics become so important in business?Ethics has become so important in business because it builds trust among individuals and in business relationships, which leads the company and its employees in a comfortable environment. This also helps the business to have confidence that their employees are happy in their work area.

4. What is an ethical issue? What are some of the ethical issues named in your text? Why are they ethical issues?An ethical issue is a problem that a person needs to choose from several actions that may be considered right or wrong.

Some ethical issues discussed are lying, abusive behavior, violations, stealing, sexual harassment, and many others. These are ethical issues because each of these issues can damage the workplace and the production of the company.

5. What is a code of ethics? How can one reduce unethical behavior in business?A code of ethics is formalized rules that a company expects of its employees before they start to work there. One can reduce unethical behavior in business by giving the employees advanced information on which conduct is acceptable and which isn't. This helps for future problems with employees.

6. List and discuss the arguments for and against social responsibility by business (Table 2.8). Can...