GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Innovation
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Strategy
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Ethics
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Change
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Detailed explanation-1: -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.
Detailed explanation-2: -The Factors affecting business ethics are numerous, ranging from internal to external ones. The basic factors can be named as leadership, strategy and performance, individual characteristics, corporate culture and environment.
Detailed explanation-3: -Based upon the three-part division of traditional normative ethical theories discussed above, it makes sense to suggest three broad frameworks to guide ethical decision making: The Consequentialist Framework; The Duty Framework; and the Virtue Framework.
Detailed explanation-4: -Based on moral and social values: Business ethics is based on moral and social values. It contains moral and social principles (rules) for doing business. This includes self-control, consumer protection and welfare, service to society, fair treatment to social groups, not to exploit others, etc.