Question

Business ethics can be considered as a tool for social development. (State with reason whether the given statement is true or false)

Answer 1

The given statement is false. The motive of any business is to be a productive organization as a whole and the way they achieve that goal is by creating goods and service which they can sell and earn profit in return.

The reason why business ethics is not considered an important tool for social development is because the goods and the services which are sold are solely for the purpose of commercial gain.