BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Ethical decisions are based on reason rather than emotion. Ethics values one person or group more than another. Impartiality forces a person to balance self-interest with the interests of others. Business ethics are the ethical principles used in making business decisions.

Detailed explanation-2: -Personal values provide an internal reference for what is good, beneficial, important, useful, beautiful, desirable and constructive. Values are one of the factors that generate behavior (besides needs, interests and habits) and influence the choices made by an individual.

Detailed explanation-3: -Cultural Relativism is the claim that ethical practices differ among cultures, and what is considered right in one culture may be considered wrong in another. The implication of cultural relativism is that no one society is superior to another, they are merely different.

Detailed explanation-4: -Values are essential to ethics. Ethics is concerned with human actions, and the choice of those actions. Ethics evaluates those actions, and the values that underlie them. It determines which values should be pursued, and which shouldn’t.

Detailed explanation-5: -Ethics is what guides us to tell the truth, keep our promises, or help someone in need. There is a framework of ethics underlying our lives on a daily basis, helping us make decisions that create positive impacts and steering us away from unjust outcomes.