Which of the following is the MOST important aspect of business ethics?
A.
Ensuring fair and consistent vendor management practices
B.
Providing equal opportunities to employees
C.
Protecting stakeholders' interests
D.
Complying with legal and regulatory requirements
The Answer Is:
C
This question includes an explanation.
Explanation:
Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility, fiduciary responsibilities, and much more1. The most important aspect of business ethics is to protect the interests of the stakeholders, who are the individuals or groups that have a stake in the success or failure of a business. Stakeholders include shareholders, customers, employees, suppliers, regulators, and the society at large. By protecting stakeholders’ interests, a business can ensure its long-term viability, reputation, and profitability. References: CGEIT Review Manual (Digital Version) or CGEIT Review Manual (Print Version), Chapter 1: Governance of Enterprise IT, Section 1.1: IT Governance Frameworks and Principles, Subsection 1.1.2: IT Governance Principles, Page 14-15. Business Ethics: Definition, Principles, Why They’re Important.
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