Question: Ethics; Business ethics

Answer: Ethics is the study of right and wrong and of the morality of the choices individuals make.

Business ethics is the application of moral standards to business situationsBusiness ethics is the application of moral standards to business situations

Question: • What investors, customers, employees, & creditors expect

Answer:

Question: • Fairness and honesty

Answer: Fairness and honesty in business are two important ethical concerns. Besides obeying all laws and regulations, businesspeople are expected to refrain from knowingly deceiving, misrepresenting, or intimidating others

Question: • Organizational relationships

Answer: A businessperson may be tempted to place his or her personal welfare above the welfare of others or the welfare of the organization.

Question: Conflict of Interest

Answer: Conflict of interest results when a businessperson takes advantage of a situation for his or her own personal interest rather than for the employer’s interest