Business Ethics

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Explain the need for ethical behavior by a firm.

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Business ethics can be defined as "the study of the standards of business behavior which promote human welfare and the good." Businesses that buy and sell products or services impact providers, consumers, stockholders, and many other interest groups directly. Indirectly, they affect all of society through the economic activity involved in paying wages and taxes, investing in infrastructure and resources, and in a multitude of other ways.

While business firms need to be conscious of expenses...

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