INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The two are not the same thing, but they do overlap.
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Everything that is illegal is also unethical.
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Everything that is unethical is also illegal.
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The two have nothing to do with each other.
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Detailed explanation-1: -Expert-Verified Answer Ethical business behavior facilitates and promotes good to society, It improves profitability, It fosters business relations and employee productivity. Business ethics is the application of general ethical ideas to business behavior.
Detailed explanation-2: -Many people think of and use business ethics vs. business law terms interchangeably. They are related, but there is actually a difference between the two. To put it simply: business ethics are standards of behavior that businesses should uphold, whereas business law is a body of laws that businesses must follow.
Detailed explanation-3: -Business ethics is not against fair profit making. However, it is against making profit by cheating and exploiting consumers. Was this answer helpful?
Detailed explanation-4: -What Are the 7 Business Ethics? Business ethics is an evolving topic. Generally, there are about 12 ethical principles: honesty, fairness, leadership, integrity, compassion, respect, responsibility, loyalty, law-abiding, transparency, and environmental concerns.