my commerce ethics quiz

What is the importance of business ethics in commerce?

• Business ethics in commerce is important for building trust, enhancing reputation, reducing legal risks, and fostering a positive work environment.

• Business ethics in commerce is irrelevant and unnecessary

• Business ethics in commerce leads to decreased profits

• Business ethics in commerce only benefits large corporations

Explain the concept of corporate social responsibility (CSR) in business ethics.

• Corporate Social Responsibility (CSR) in business ethics refers to the idea that companies should act in a socially responsible way by considering the impact of their activities on customers, employees, communities, and the environment.

• Corporate Social Responsibility (CSR) is solely focused on benefiting shareholders

• Corporate Social Responsibility (CSR) is not relevant in today's business environment

• Corporate Social Responsibility (CSR) is only about maximizing profits

Discuss the role of ethical leadership in maintaining business ethics.

• Unethical leadership promotes dishonesty and corruption in business practices.

• Ethical leadership has no impact on business ethics.

• Business ethics can be maintained without ethical leadership.

• Ethical leadership is essential for maintaining business ethics as it sets the example for employees to follow, fostering a culture of integrity and trust.

How can businesses ensure ethical decision-making in their operations?

• By bribing government officials to overlook unethical practices

• By establishing a code of ethics, providing ethics training, promoting transparency, conducting audits, and fostering a culture of integrity.

• By promoting a toxic work environment that encourages unethical behavior

• By ignoring ethical considerations and focusing solely on profits

Provide examples of ethical dilemmas that businesses may face in the commercial world.

• Tax evasion

• Environmental concerns, labor practices, bribery, discrimination, product safety, data privacy

• Price fixing

• Insider trading