Commerce Exam > Commerce Videos > Business Studies (BST) Class 11 > Business Ethics
Business Ethics Video Lecture | Business Studies (BST) Class 11 - Commerce
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FAQs on Business Ethics Video Lecture - Business Studies (BST) Class 11 - Commerce
| 1. What is business ethics and why is it important? |  |
Ans. Business ethics refers to the principles and values that guide the behavior and decision-making in a business context. It involves conducting business in a morally responsible manner, considering the impact on stakeholders, and adhering to legal and social obligations. It is important because it helps build trust with customers, employees, and the community, enhances the reputation of the business, and contributes to long-term sustainability and success.
| 2. How can a company promote ethical behavior among its employees? | |
Ans. A company can promote ethical behavior among its employees through various measures. Firstly, it can establish a code of ethics that outlines expected behavior and values. Additionally, regular ethics training and education programs can be conducted to raise awareness and provide guidance. Implementing a whistleblower policy can encourage employees to report unethical behavior without fear of reprisal. The company can also lead by example, with senior management demonstrating ethical behavior and providing a positive ethical culture within the organization.
| 3. What are some common ethical challenges faced by businesses today? | |
Ans. Businesses today face various ethical challenges. One common challenge is maintaining data privacy and cybersecurity, ensuring customer information is protected. Another challenge is addressing environmental sustainability and reducing the impact on the planet. Ethical challenges can also arise in areas such as fair labor practices, supply chain management, and marketing practices. Balancing the interests of different stakeholders and avoiding conflicts of interest are also ongoing challenges for businesses.
| 4. How can businesses ensure responsible and ethical use of technology? | |
Ans. To ensure responsible and ethical use of technology, businesses can adopt certain measures. They can establish clear policies and guidelines for the use of technology, specifying acceptable behavior and prohibiting unethical practices. Regular training sessions can be conducted to educate employees about the responsible use of technology and the potential ethical implications. Companies should also regularly review and update their technology policies to keep up with evolving ethical considerations and emerging technologies.
| 5. What are the consequences of unethical business practices? | |
Ans. Unethical business practices can lead to several negative consequences. Firstly, it can damage the reputation and credibility of the business, resulting in loss of customers and revenue. Legal consequences, such as fines, penalties, and lawsuits, can also be imposed on businesses found guilty of unethical practices. Unethical behavior can negatively impact employee morale and productivity, leading to high turnover rates. Additionally, unethical practices can harm the environment, communities, and society as a whole, further damaging the business's long-term sustainability.
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Nov 24, 2024 Last updated |
Video Description: Business Ethics for Commerce 2024 is part of Business Studies (BST) Class 11 preparation.
The notes and questions for Business Ethics have been prepared according to the Commerce exam syllabus.
Information about Business Ethics covers all important topics for Commerce 2024 Exam.
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Introduction of Business Ethics in English is available as part of our Business Studies (BST) Class 11 for Commerce & Business Ethics in
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Video Lecture & Questions for Business Ethics Video Lecture | Business Studies (BST) Class 11 - Commerce - Commerce full syllabus preparation | Free video for Commerce exam to prepare for Business Studies (BST) Class 11.
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