Question

Anchu, a stationery dealer distributed good quality products at low price by suffering huge losses, in order to eliminate the competition from Chinju, another stationery dealer, in the same locality. When Chinju stopped her business, Anchu started to supply low quality products at high price.

1. Can you justify Anchu’s action from point of view of the society? 

2. Give a few undesirable practices which a business follow in a real life situation.

Answer 1

1. No. We cannot justify Anchu’s action. It is against business ethics. Business ethics refers to moral values which should be followed in business activities. 

2. Examples of unethical practices are 

• Providing low quality products at high prices. 
• Making misleading advertisements. 
• Creating artificial scarcity to increase demand. 
• Keeping false accounts to avoid paying taxes. 
• Acceptance of bribe for personal benefits.
• Manufacture and sale of adulterated goods. 
• Polluting the environment. 
• Exploiting workers.