ENTREPRENEURSHIP

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INTRODUCTION TO ENTREPRENEURSHIP

IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A company goes bankrupt because of its unethical accounting practices. The reason for this unethical behavior is that the action is
A
not illegal.
B
acceptable in a foreign culture.
C
committed by unethical employees.
D
acceptable within the industry.
Explanation: 

Detailed explanation-1: -The three main reasons behind unethical business practices are: Poor leadership. Personal greed. Unclear company policies.

Detailed explanation-2: -Unethical behaviour has serious consequences for both individuals and organizations. You can lose your job and reputation, organizations can lose their credibility, general morale and productivity can decline, or the behaviour can result in significant fines and/or financial loss.

Detailed explanation-3: -Some more examples of unethical business practices are: Deliberate deception – This could mean taking the credit of someone else’s work, ‘pulling a sicky’, sabotaging the work of someone else, or misrepresenting a product all with the aim of getting a sale.

Detailed explanation-4: -Exploiting workers. Over-billing customers. Exploiting tax loopholes. Dumping toxins into the air or water. Prescribing unnecessary medical procedures. Covering up car defects. Designing phones so that users accidentally accept data charges. Creating fake identities. More items •23-Sept-2021

There is 1 question to complete.
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