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 Form 1 Business Studies online lessons on entrepreneurship

Role of ethical practices in business.

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Answer Text:
Business ethics.
- Refers to accepted code of behavior that should be maintained by all business people.
Role of ethical practices in business.
-They promote good working relationship .
-They help practice rights of each employee.
-Ethical practices helps employees develop positive attitude towards work.
-Ethical practices helps employees maintain good reputation of the business.
-Ethical practices promotes customer’s loyalty leading to high number of return customers.
-An ethical practice improves business image and acceptability in the society.