Q.What do you mean by the concept of Business Ethics ?

Business ethics is the application of moral principles and standards of right and wrong to business behaviour and decisions.

In the Tamil Nadu HSC Commerce syllabus, the concept of business ethics is explained as follows:

• Business ethics refers to the moral principles and standards that govern the conduct of individuals and organisations in the world of business.
• It concerns what is right and wrong, good and bad, fair and unfair in the way a business is carried on.
• It requires a business to be honest in its dealings — fair pricing, correct weights and measures, truthful advertising, timely payment of wages and taxes, and fair treatment of customers, employees, shareholders and society. …