ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An unethical business will go bankrupt.
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The government will fine an unethical business.
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An ethical business makes more money than all its competitors.
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An ethical business contributes toward its own success.
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Detailed explanation-1: -Business ethics enhances the law by outlining acceptable behaviors beyond government control. Corporations establish business ethics to promote integrity among their employees and gain trust from key stakeholders, such as investors and consumers.
Detailed explanation-2: -Business ethics refer to an essential system of policies and practices that uphold a corporation’s legal and moral responsibilities. At their core, they determine what is ‘right and wrong’ for a company and its employees and inform a wider code of conduct.
Detailed explanation-3: -Work ethics in the workplace is even more significant as it directly impacts the job’s quality or output. When a person has respect for the work and the workplace, they naturally become more productive. They use the company resources, value time, show better performance levels, and drive the company towards success.