Question

What do you mean by business ethics? State the major components of business
ethics

Answer 1

Answer:

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Explanation:

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Answer 2

In Business Studies,business ethics refers to professional practices and conducts that are ethically and morally right and can act as guiding principal on how to conduct business activities in a fair and just manner.

Explanation:

Major components of business ethics:-

• One of the main components of business ethics includes proper customer care,fair work environment,material benefits.A company should adopt fair and transparent advertising and marketing strategies,fair and just treatment towards customers,investors,shareholders and any entity related to the business directly or indirectly.
• A business organization should accept and respect the rules of market competition and must not engage in any partial behavior with any participant of the labor market.
• The organization should always behave fairly and with complete transparency with customers,suppliers,distributors,employee,staff and so forth.