Find out the correct combination of statements with regards to business ethics : (a) Business ethics is the behaviour that a business adheres to in its daily dealings. (b) The ethics of a particular business can be diverse. (c) Business ethics has normative and descriptive dimensions.
All (a), (b) and (c)
(a) Correct: business ethics refers to the moral principles and behaviour that a firm follows in its day-to-day dealings with customers, employees, suppliers and society.
(b) Correct: the ethics of a business can be diverse – they apply to how it deals with the outside world and also to its internal relations with employees, and differ across firms and cultures.
(c) Correct: as an academic field, business ethics is normative (prescribing what firms ought to do) and descriptive (studying how firms actually behave).
All three statements are therefore correct.
Hence, the answer is All (a), (b) and (c).
Similar Questions
Which one of the following is not correct about business ethics ?
Narayan Murthy Committee revised its recommendations on Corporate Governance as on 29th October 2004 which diluted the following areas :
(i) Independence of Directors
(ii) Whistle Blower Policy
(iii) Performance evaluation of Non-Executive Directors
(iv) Mandatory training of Non-Executive Directors
Codes :
Important Questions from Corporate governance and business ethics
Corporations are controlled and directed by which one of the following?
Which one of the following is not a principle of corporate Governance ?
Match the items given in the List - I and List - II and suggest the correct code :
List - I List - II (a) Ethics (i) Right code of behaviour for a group or profession (b) Morality (ii) Prescribes right conduct for everyone (c) Moral standard (iii) Needs some inclination to follow morality (d) Meta Moral Standard (iv) Practical and pragmatic Code :
Assertion (A) : When a corporation acts ethically and socially responsible in its business decisions and strategic planning, then the corporation will be more sustainable.
Reason (R) : Socially responsible corporate behaviour is increasingly seen as essential to long-term survival of companies.
Read the following passage and answer the questions :
Jensen examines the dynamics of corporate takeovers and challenges prevailing misconceptions surrounding them. He argues that takeovers are not merely hostile disruptions but serve as a crucial mechanism of the market for corporate control. According to Jensen, inefficient management teams often fail to maximize shareholder value and takeovers act as disciplinary tool by transferring control to more competent managers. He emphasizes that while popular belief portrays takeovers as destructive to employees and communities, empirical evidence suggests that they frequently generate significant economic gains by reallocating resources to more productive uses. Jensen distinguishes between the folklore-emotional and political arguments against takeovers depicting as harmful to employees and society and the science, which demonstrates thier role in improving efficiency and shareholder wealth. He also addresses concerns about debt financing in leveraged buyouts, contending that high leverage can impose financial discipline on managers by reducing wasteful spending. Ultimately, Jensen frames takeovers as an essential corrective force within capitalism, countering managerial inefficiency and aligning corporate behavior with shareholder interests. His analysis laid the groundwork for modern corporate finance debates on governance, agency costs and the value-creating potential of mergers and acquisitions.
