Question

Which of the following definitions best describes moral agency?

A) The ability to act ethically in business.
B) The responsibility to maximize shareholder value.
C) The pursuit of profit without regard for ethics.
D) The acceptance of cultural norms.

Answer 1

Moral agency is the ability to act with ethical consideration, involving choices based on right and wrong, and is a key concept in business ethics with respect to stakeholders.

Step-by-step explanation:

The definition that best describes moral agency is the ability to act with ethical consideration in decision-making, which involves understanding and making choices based on what is right and wrong. Moral agency includes evaluating the consequences of actions, understanding one's duties and obligations, and acting with virtue and character. In the context of business ethics, moral agency also extends to the organization itself, which should operate within the law and may hold a set of ethical standards that govern behavior, decision-making, and responsibilities towards stakeholders like employees, customers, society, and the environment.