The process of distinguishing between right and wrong decisions in a business setting is called business ethics.
Business ethics are the moral principles and standards that act as guidelines for the way a business conducts its business transactions with outside world. It is a practice that determines what is right, wrong, and appropriate in the workplace.
Business ethics is important because it help ensure a good reputation for a company. This means that the company would have a good image in the society.
Therefore, the process of distinguishing between right and wrong decisions in a business setting is called business ethics.
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