BRL-113 BUSINESS ETHICS

BRL-113 BUSINESS ETHICS – Assignment Answer Compilation

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BRL-113 Assignment Answer Master Post Below are the individual answers for all the questions from the BRL-113 BUSINESS ETHICS assignment: Define business ethics. What are the principles of business ethics? Why should there be ethical production? Explain by giving suitable examples. Define dynamic pricing. Discuss the benefits and limitations of the same. How does truthfulness […]

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Explain the different categories of occupational hazards in retail industry.

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Introduction Occupational hazards refer to potential risks or dangers associated with specific job roles. In the retail industry, workers are exposed to various hazards due to the physical nature of the work, constant interaction with customers, and handling of products. Identifying and managing these hazards is crucial to ensure the safety and well-being of employees.

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Discuss the role of transparency and honesty in fostering relationship with the customers.

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Introduction Transparency and honesty are fundamental ethical principles in business that significantly impact customer relationships. In a market where trust is a vital currency, companies that maintain open and truthful communication foster deeper bonds with customers and build long-term loyalty. Main Body Meaning of Transparency and Honesty Transparency refers to the practice of openly sharing

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Explain the concept of green retailing and its advantages for an organization.

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Introduction Green retailing is a business approach that incorporates environmental sustainability into all aspects of retail operations. It focuses on minimizing the ecological footprint by using eco-friendly products, energy-efficient practices, and sustainable supply chains. This ethical approach not only benefits the environment but also enhances a retailer’s brand image and operational efficiency. Main Body Definition

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What is meant by diversity? Highlight its importance at the workplace.

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Introduction Diversity refers to the inclusion of individuals from a variety of backgrounds, cultures, genders, ages, religions, abilities, and other unique characteristics in a shared environment. In the context of the workplace, diversity means employing people from diverse demographic and social backgrounds, contributing to a richer and more productive working environment. Main Body Definition of

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“Due Diligence of vendors is an important and needed part of any business”. Elaborate.

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Introduction Vendor due diligence is a process by which businesses assess and verify the credibility, financial stability, legal standing, and ethical practices of their suppliers or service providers. It is a critical aspect of procurement and supply chain management, ensuring that vendors align with the company’s values and operational standards. Main Body Importance of Vendor

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How does truthfulness and accuracy in retail advertising contribute to consumer trust and long term brand reputation?

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Introduction Retail advertising plays a critical role in shaping consumer perceptions, driving sales, and building brand awareness. Among the key pillars of effective advertising are truthfulness and accuracy. Misleading claims can attract regulatory scrutiny and consumer backlash, while honest messaging fosters lasting relationships and brand loyalty. Main Body Importance of Truthfulness and Accuracy in Retail

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Define dynamic pricing. Discuss the benefits and limitations of the same.

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Introduction Dynamic pricing is a flexible pricing strategy where the price of a product or service changes in real time based on market demand, competition, customer behavior, and other external factors. It is widely used in industries like airlines, hotels, e-commerce, and ride-sharing. Main Body Definition of Dynamic Pricing Dynamic pricing refers to the practice

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Why should there be ethical production? Explain by giving suitable examples.

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Introduction Ethical production refers to manufacturing goods in a manner that respects workers’ rights, environmental sustainability, and consumer safety. It emphasizes fairness, transparency, and responsibility in the entire production process—from sourcing raw materials to final product delivery. Main Body Importance of Ethical Production 1. Protects Workers’ Rights Ethical production ensures that workers are treated fairly,

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Define business ethics. What are the principles of business ethics?

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Introduction Business ethics refers to the application of moral principles and standards to business behavior. It involves evaluating what is right and wrong in a business context and ensuring that corporate decisions benefit all stakeholders—including customers, employees, shareholders, and the community—while maintaining legal compliance and moral integrity. Main Body Definition of Business Ethics Business ethics

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