How do the terms business ethics and social responsibility differ from each other?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
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How do the terms business ethics and social responsibility differ from each other?
Multiple Choice
Business ethics concerns the impact of the entire business's activities on society, whereas social responsibility relates to an individual's decisions that society
evaluates as right or wrong.
Business ethics is a broader concept, whereas social responsibility is a narrower concept.
Business ethics and social responsibility can be used interchangeably because they mean the same thing
Business ethics relates to an individual's or a work group's decisions that society evaluates as right or wrong, whereas social responsibility concerns the impact of
the entire business's activities on society.
Transcribed Image Text:How do the terms business ethics and social responsibility differ from each other? Multiple Choice Business ethics concerns the impact of the entire business's activities on society, whereas social responsibility relates to an individual's decisions that society evaluates as right or wrong. Business ethics is a broader concept, whereas social responsibility is a narrower concept. Business ethics and social responsibility can be used interchangeably because they mean the same thing Business ethics relates to an individual's or a work group's decisions that society evaluates as right or wrong, whereas social responsibility concerns the impact of the entire business's activities on society.
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