Final answer:
The best reason for a universal ethical standard in business is:
c. It provides transparency in application.
Step-by-step explanation:
A universal ethical standard is important because it ensures transparency and consistency in how ethical principles and guidelines are applied across different contexts and organizations. By having a common ethical standard, individuals and businesses can better understand what is expected of them in terms of ethical behavior. This transparency helps build trust among stakeholders, including employees, customers, partners, and the public, as they can rely on a consistent set of principles and values.
While other options like "a. It is good business practice" and "d. It is easier to apply for business leaders" may also be valid arguments, they focus more on the practical benefits of a universal ethical standard. The primary rationale for a universal ethical standard is to establish a clear and universally accepted framework for ethical behavior, which ultimately contributes to greater trust, fairness, and ethical consistency in various domains, including business.
Therefore, the correct option is: c. It provides transparency in application.