5 Questions
What is business ethics about?
Treating people and their businesses with respect
What does the text say about failing to treat people and their businesses with respect?
It is both a moral and market failure
What does business ethics evaluate?
Individual and corporate behavior
What are the three levels at which ethical decision-making is analyzed in commerce according to the text?
Individuals, organizations, and political/economic systems
Is business ethics only descriptive or both descriptive and normative?
Both descriptive and normative
Study Notes
Business Ethics Overview
- Business ethics is concerned with treating people and their businesses with respect.
Importance of Respect
- Failing to treat people and their businesses with respect can lead to negative consequences.
Ethical Evaluation
- Business ethics evaluates the actions and decisions of businesses and their impact on stakeholders.
Levels of Ethical Decision-Making
- Ethical decision-making in commerce is analyzed at three levels:
- Micro level: individual decision-making
- Meso level: organizational decision-making
- Macro level: societal and environmental impact
Nature of Business Ethics
- Business ethics is both descriptive (describing what is) and normative (prescribing what should be).
Test your knowledge on business ethics and corporate social responsibility with this quiz by Nguyen Hong Hanh (PhD.). Explore the importance of ethical practices in commerce and how they relate to human relationships and organizations.
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