CA Intermediate Exam > CA Intermediate Videos > Corporate & Other Laws for CA Intermediate > Foundations of the Principles of Business Ethics
Foundations of the Principles of Business Ethics Video Lecture | Corporate & Other Laws for CA Intermediate
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FAQs on Foundations of the Principles of Business Ethics Video Lecture - Corporate & Other Laws for CA Intermediate
| 1. What are the key principles of business ethics? |  |
Ans. The key principles of business ethics include integrity, honesty, fairness, accountability, and respect. These principles guide businesses in making decisions that are not only profitable but also ethical, ensuring that they consider the welfare of all stakeholders.
| 2. How can businesses implement ethical practices? | |
Ans. Businesses can implement ethical practices by developing a code of ethics, providing ethics training for employees, establishing a reporting system for unethical behavior, and ensuring transparency in operations. Regular assessments and updates to the ethical guidelines also help maintain a strong ethical culture.
| 3. Why is business ethics important for companies? | |
Ans. Business ethics is important for companies because it builds trust with customers, fosters employee loyalty, enhances brand reputation, and reduces the risk of legal issues. Ethical companies are more likely to attract and retain customers and employees who value integrity and responsibility.
| 4. What role do stakeholders play in business ethics? | |
Ans. Stakeholders, including employees, customers, suppliers, and the community, play a crucial role in business ethics. Their expectations and feedback can influence a company's ethical practices. Businesses must consider the impact of their decisions on all stakeholders to ensure ethical conduct.
| 5. How can ethical dilemmas be resolved in business? | |
Ans. Ethical dilemmas in business can be resolved by analyzing the situation using ethical frameworks, consulting the company's code of ethics, discussing the issue with relevant stakeholders, and weighing the potential outcomes. Seeking advice from ethics committees or external consultants can also provide valuable perspectives.
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Nov 19, 2024 Last updated |
Video Description: Foundations of the Principles of Business Ethics for CA Intermediate 2024 is part of Corporate & Other Laws for CA Intermediate preparation.
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