Class-11 : chapter 10- business ethics and social responsibility
Concept of business ethics Business ethics means doing business in a right, fair, and honest way. It tells a business how it should behave while dealing with customers, employees, government, and society. Business ethics helps in deciding what is right and what is wrong in business activities like buying, selling, advertising, and managing workers. An ethical business does not cheat customers, does not sell poor-quality goods, and gives true information in advertisements. Business ethics also means treating employees properly by paying fair wages, giving equal opportunities, and providing a safe working environment. It requires businesses to follow laws, pay taxes honestly, and stay away from bribery and corruption. In addition, ethical businesses care about society and the environment by reducing pollution and supporting social welfare activities. By following business ethics, a business gains trust, builds a good reputation, avoids legal problems, and ensures long-term success....