Question

In: Accounting

Briefly explain four needs for business ethics in an organization

Briefly explain four needs for business ethics in an organization

Solutions

Expert Solution

Checking business malpractices- business ethics is needed to make business activities fair to consumers.
 Improving consumer confidence
it is needed in order to improve the confidence of consumers as regard quality, price,reliability etc of goods and services applied.
 Making businessmen conscious of social responsibilities
it is needed in order to make businessman conscious as regards their duties and responsibilities towards consumers and other social groups.
Safeguarding consumer rights and social welfare
its needed for the protection or rights of consumers at the business level and for raising social welfare.


Checking business malpractices,improving consumer confidence, making businessmen conscious of social responsibilities and safeguardin consumer rights and social welfare.

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