Define business ethics. | Class 11 Business Studies Chapter Social Responsibilities of Business and Business Ethics, Social Responsibilities of Business and Business Ethics NCERT Solutions

Question:

Define business ethics.

Answer:

Business ethics refers to the set of moral principles and standards that guide behavior and decision-making in the business world. It ensures that businesses conduct their operations with integrity, fairness, and transparency, maintaining respect for their stakeholders. Ethical practices include honesty in financial reporting, avoiding unfair trade practices, and ensuring equitable treatment of employees and customers.

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Study Tips for Answering NCERT Questions:

NCERT questions are designed to test your understanding of the concepts and theories discussed in the chapter. Here are some tips to help you answer NCERT questions effectively:

Read the question carefully and focus on the core concept being asked.
Reference examples and data from the chapter when answering questions about Social Responsibilities of Business and Business Ethics.
Review previous year question papers to get an idea of how such questions may be framed in exams.
Practice answering questions within the time limit to improve your speed and accuracy.
Discuss your answers with your teachers or peers to get feedback and improve your understanding.

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Welcome to the NCERT Solutions for Class 11 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Extra Questions, Question 3: Define business ethics.....

Define business ethics. | Class 11 Business Studies Chapter Social Responsibilities of Business and Business Ethics, Social Responsibilities of Business and Business Ethics NCERT Solutions

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