Describe the basic principles of business ethics and their importance.
Description should include a definition of business ethics and examples of ethical issues related to
- company reputation
- stakeholder groups
- transparency
- product and facilities safety
- conflicts of interest
- quality assurance concerns
- social media.
Process/Skill Questions:
- How does ethical behavior affect the image of a business?
- What values should be reflected in a business code of ethics?
- Who decides what is ethical in the business world?
- How is ethical behavior related to employee and consumer safety?
- What is the difference between ethics and morals? How do they relate?