Understanding the Study of Business Practices The subject in question is related to the field that examines the moral principles and ethical standards that govern the actions and decisions of individuals and organizations in the business world. The correct term for this study is Business Ethics. Definitions of Key Terms Business Ethics: The study of business practices and policies that relate to the governance of individuals and organizations, focusing on issues such as corporate governance, insider trading, bribery, discrimination, and corporate social responsibility. Worldview Ethics: A broader perspective that considers how an individual's overall worldview influences their ethical decision-making. Perspective Ethics: This approach focuses on the importance of understanding different perspectives in ethical reasoning, particularly in multicultural contexts. Business Worldview: This concept examines how businesses view their role in society and the implications of those views in their operations. Why Study Business Ethics? Understanding business ethics is crucial for several reasons: Promotes a positive workplace culture and morale. Builds trust with consumers, stakeholders, and the general public. Helps avoid legal issues and the associated costs of unethical behavior. Encourages long-term profitability by fostering loyalty and a reputable brand image. Conclusion The study of business ethics plays a vital role in shaping how organizations operate while considering moral implications. By following ethical practices, companies can contribute positively to society and enhance their own success. Further Reading Corporate Finance Institute - Business Ethics Investopedia - Business Ethics Forbes - The Importance of Business Ethics