How do the terms business ethics and social responsibility differ from each other?
How do the terms business ethics and social responsibility differ from each other?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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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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