Business Ethics in Retail
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Questions and Answers

What is the basic objective of retailing?

  • To earn profit and ensure customer satisfaction (correct)
  • To prioritize customer satisfaction over profit
  • To maximize profit at any cost
  • To follow regulations without focusing on profit

    • What is the responsibility of a retailer regarding values and behavior?

  • Follow the values set by competitors
  • Develop a set of values and follow it up with appropriate behavior (correct)
  • Ignore values and focus solely on profit
  • Adapt values based on customer feedback

    • What holds great benefit for leaders, managers, and employees in the workplace?

  • Ignoring ethics for the sake of efficiency
  • Managing ethics in the workplace (correct)
  • Enforcing strict rules without considering ethics
  • Favoring profit over ethical considerations

    • What is critical in today's workplace environment?

    <p>Understanding and managing highly diverse values at the workplace</p> Signup and view all the answers

    What is the increasing area of important issues in business?

    <p>Ethical practices</p> Signup and view all the answers

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