Business Ethics

Question 1

What promotes ethical behavior in businesses?

Answer 1

Rewarding whistleblowing, Discipline unethical practices

Question 2

What is a code of ethics?

Answer 2

A formal document that outlines the expected moral principles and behaviour for individuals within an organisation

Question 3

What is a benefit of a Code of Ethics?

Answer 3

Guides decision making, Improves reputation, Reduces legal issues

Question 4

What is a challenge of implementing a Code of Ethics?

Answer 4

Enforcement, Adaptability, Training

Question 5

What does rewarding whistleblowing do?

Answer 5

Encourages staff to report unethical behaviour by offering incentives

Question 6

What does establishing a code of ethics help with?

Answer 6

Standardising ethical conduct and providing clear guidelines for employees to follow

Question 7

How does a Code of Ethics improve a company’s reputation?

Answer 7

By demonstrating a commitment to ethical practices

Question 8

What is the main purpose of a Code of Ethics in decision-making?

Answer 8

To provide clear guidelines for ethical behaviour, helping employees make the right choices