Asked by Jennifer Zuniga on Jun 25, 2024
Verified
How do law and business ethics relate to each other?
A) Ethics is unrelated to the law because ethics answers only moral questions.
B) Ethics entirely determines what the laws will be, as ethics is focused on finding one right answer to every question.
C) The law establishes what is ethical, as anything which is legal is automatically ethical.
D) The law establishes ethical rules and boundaries, because laws take multiple stakeholders into consideration.
E) Law and business ethics serve as an interactive system, informing and assessing each other.
Business Ethics
The study and examination of moral and ethical principles in the business environment.
Law
A system of rules and guidelines which are enforced through social institutions to govern behavior.
Interactive System
A computer system designed for human interaction, allowing users to directly manipulate graphics, text, or other data on a screen.
- Examine how law and moral principles in business contribute to the decision-making process in organizations.
Verified Answer
RM
Rishabh MohataJun 30, 2024
Final Answer :
E
Explanation :
Law and business ethics are interconnected, with each influencing and shaping the other. Laws provide a framework for ethical behavior in business, setting minimum standards for conduct. Meanwhile, ethical principles can inspire changes in the law, reflecting evolving societal values and expectations. This dynamic relationship ensures that legal and ethical considerations are continuously aligned and adapted to address new challenges in the business environment.
Learning Objectives
- Examine how law and moral principles in business contribute to the decision-making process in organizations.