Question

1. Ethics can be defined as the study of:_______.
2. Business ethics does NOT focus on:_______
a. the decisions that businesses must make and whether they are right or wrong.
b. how businesses are treated under international laws and customs.
c. how business people apply moral principles in making decisions.
d. the duties and responsibilities that exist or should exist for businesses.
3. In the theory of profit _____________, resources flow to where they are ________________ by society, allowing businesses to focus on their ____________.
4. Some companies have begun to focus their decision making on the triple bottom line. Which three of the following are the three key concepts of the triple bottom line?
1. Corporate profits
2. The impact of profits on people
3. The impact of profits on the planet
4. The legal implications of each decision
5. The public relations impact
6. The safety risks for consumers and employees

Answer 1

Answer:

1) Ethics can be defined as the study of the moral principles that guide a person's behavior, what he/she considers right or wrong.

2) b. how businesses are treated under international laws and customs.

3) In the theory of profit MAXIMIZATION, resources flow to where they are MOST HIGHLY VALUED by society, allowing businesses to focus on their STRENGTHS.

4) 1. corporate profits

2. the impact of profits on people

3. the impact of profits on the planet