Business ethics quizlet exam 1

Business ethics comprises principles and standards that guide behavior in the world of business

Investors, employees, customers, interest groups, the legal system, and the community often determine whether a specific action is right or wrong, ethical or unethical

Studying business ethics is important for many reasons

Business ethics began to develop as an independent field of study in the 1970s, with academics and practitioners exploring ethical issues and attempting to understand how individuals and organizations make ethical decisions