Question

B. Explain the three components of credibility: competence, caring, and character. How do they interrelate?

C. Define and explain business ethics, corporate values, and the relationship between them.

   

Answer 1

B) Credibility refers to the quality of being trusted and relied on.the main components of credibility are :

.

1) Competence :

Credibility requires the competence of performing tasks. It refers to the ability of an individual or institution to come up to the expectations by performing the specific activities in the desired manner . It refers to the capability to accomplish goals.

.

2) Caring :

Caring is the quality of showing concern and looking after. Credibility involves caring for the priorities and interests of others and then connecting with them. Credibility calls for caring about the needs of others and meeting them.

.

3) ;Character :

Credibility involves truthfulness and transparency in its dealing. Credibility means staying true to commitments and values. It calls for the person or institution to show high respect and morale.

.

These components interrelate with each other because all of them are based on the grounds of trustworthiness and reliability which is integral to establishing credibility. These components together help in building credibility through assuring honesty and fairness.

.

C) Business Ethics refers to the discipline which demonstrates various beliefs, rules and principles which form the acceptable standards for business organization. It acts as a governance mechanism for a business organization which is expected to conduct all its activities through it.

Corporate values refer to the core beliefs which are set by organization in order to align all its routine activities and operations with it to accomplish them. These values form the basis of decision making in the organization and are to be complied with, by the personnel.

Business Ethics and corporate values are interrelated in the way that both of them guide the activities , operations and decisions of the organization. Their relationship can be depicted by the fact that business ethics lay down certain procedures of performing activities which then become thecore values of the business. For example the business ethics aims at preventing discrimination which later becomes the core values of organization. Thus business ethics to a very great extend gives rise to the core values.

.

.

.

Thanks dear student..

Hope I explained it well.. Rate with thumbs up if you believe so

Good luck and God bless :)