1.3. Business Ethics

Try these first

1. 1.

   Define business ethics.

   Hint

   Think of how businesses should act responsibly.

2. 2.

   What is a conflict of interest?

   Hint

   Consider situations where you might have to choose sides.

3. 3.

   What is business ethics?

   • A legal requirement
   • A set of guidelines for business practices
   • The study of profits

   Hint

   Remember the principles that guide ethical behavior.

4. 4.

   True or False: Conflict of interest can occur when personal gains interfere with professional duties.

   • True
   • False

   Hint

   Think about situations in which personal benefits might clash with professional responsibilities.

5. 5.

   Case Study: A senior manager discovers that a colleague is committing fraud. Discuss the implications of whistleblowing for the manager and the organization.

   Hint

   Consider laws protecting whistleblowers.

6. 6.

   Scenario Analysis: A company is fined for environmental breaches due to negligence in safety protocols. What should be the response plan to address this issue?

   Hint

   Look at how companies can improve their environmental practices.