INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the study of behavior and morals in a business situation.
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the principles that make up your code of ethics.
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the laws that govern business gifts and employee behavior.
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the process of deciding between right and wrong.
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Detailed explanation-1: -There are many definitions of business ethics, but the ones given by Andrew Crane and Raymond C. Baumhart are considered the most appropriate ones. According to Crane, “Business ethics is the study of business situations, activities, and decisions where issues of right and wrong are addressed."
Detailed explanation-2: -Business ethics refers to implementing appropriate business policies and practices with regard to arguably controversial subjects. Some issues that come up in a discussion of ethics include corporate governance, insider trading, bribery, discrimination, social responsibility, and fiduciary responsibilities.
Detailed explanation-3: -Business ethics means the behavior of a businessman while conducting a business, by observing morality in his business activities. Business ethics is concerned with the behavior of a businessman in doing a business.
Detailed explanation-4: -What is ethics? The study of what constitutes right and wrong behavior. (Ethic focuses on morality and the application of moral principles in everyday life. Business ethics focuses on what constitutes ethical behavior in the world of business.)