NCERT · Class 11 · Business Studies · Social Responsibilities of Business and Business EthicsEthics is important in business because it helps in:
Step-by-Step Solution
Ethical behavior fosters trust, builds strong customer loyalty, improves employee morale, and ensures the long-term credibility and success of the enterprise in society.
Detailed Options Breakdown
Option : Increasing tax liabilities
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Social Responsibilities of Business and Business Ethics.
Option 1: Building trust and long-term success (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 2: Reducing employee productivity
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Social Responsibilities of Business and Business Ethics.
Option 3: Promoting unfair trade practices
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Social Responsibilities of Business and Business Ethics.
💡 Study Guide: This question tests core syllabus concepts from Social Responsibilities of Business and Business Ethics. For formulas, key summaries, and mock exam reference guides, read the full Social Responsibilities of Business and Business Ethics Revision Notes.