Recognizing the Concept of Business Ethics Allows Us to Categorize

question 79

Short Answer

Recognizing the concept of business ethics allows us to categorize behavior as unethical; but,when you are looking to manage the reputation and policies of an organization,the commitment to doing the right thing becomes more about ___________________ than any sense of a written ethics policy.

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Definitions:

Capital

Resources such as machinery, buildings, and equipment used in the production of goods and services.

Dormitories

Residential facilities provided by educational institutions for students to live in.

Implicit Costs

The opportunity costs that arise from using resources that could have been employed in an alternative use but were instead utilized in the current operation without direct payment.

Explicit Costs

Direct, out-of-pocket payments for goods and services used in the production of a product or provision of a service.