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Business Ethics represent socially acceptable behavior of business firms. How might the market place, society or...

  1. Business Ethics represent socially acceptable behavior of business firms. How might the market place, society or government provide incentives and or disincentives to impact the behavior of the firm. Is it OK for a firm to act unethically, why or why not?

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Expert Solution

Business ethics will represent the socially accepted norms and ethics which are to be followed by different business who wants to operate in a society and it is protection of the interest of the society and other stakeholders of the company ethically.

The marketplace will provide incentives to those companies who are having high social values with market premium, because they are always indulging in in better corporate practices.

Society and government will also provide the incentives to those companies who are having a higher social standard because government should be less interfering in the matters of this company and society will also try to use the product and popularise it on the other hand, the companies with low social standard will be facing the heat of the society and the government.

It is not ok for firm to act unethically because it would be leading to indulging in MiS functioning of the the organisation and it will also be not protecting interest of stakeholders in the long run, and it will also decrease the value of the company and sustainability of the company

jeff jeffy answered 1 year ago
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