Which of the following is NOT one of the three levels of ethical standard proposed in theScarborough textbook?The lawMoralityMoral relativityPolicies and practices

Answered: Which of the following is NOT one of…

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

Problem 1CE

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Question

Which of the following is NOT one of the three levels of ethical standard proposed in the
Scarborough textbook?
The law
Morality
Moral relativity
Policies and practices

Expert Solution

Step 1

The business growth is based on the ethical moves made by the management and owners of the organization. The customers, government, and other stakeholders will expect the company to run the business in a ethical manner. If the customers knows that the company is involving in fraudulent practices or not running the business ethically, then the customers will not come again to the company for business dealings. Hence it is very important for an organization to run the business in a ethical manner to increase their profitability as well as to sustain in the market for a long term.