Should we stop giving subsidies to companies and if so, under what conditions?
Business ethics refers to the principles and standards of the business that determine the acceptability of the business in the competitive marketplace, which is determined by customers, competitors, government regulators, interest groups, individual's personal moral principles, and values. In addition to this, social responsibility is related with the business obligations that are followed to maximize positive impact and reduce negative impact on society (Business Ethics and Social Responsibility, 2008). Business ethics and social responsibilities are an important part of the firms to run the business in a competitive marketplace along with creating positive image. In this concern, subsidies are provided by governments and business regulators to firms to run business effectively and support economic growth of the country through supporting businesses economically (Gilardi, 2008).
Subsidies should not be stopped as they provide assistance to the firms in monetary terms to those who really need it to run the business in a competitive marketplace. At the same time, as per the business ethics, to increase acceptability of the business in the light of business principles and standards, subsidies to the firm play a fundamental role (Jansson, 2000). It is because giving ...
The solution discusses if we should stop giving subsidies.