What Are Business Ethics?

What are Business Ethics?

To simply put it, business ethics involves learning what is right and wrong, and then doing the right thing. Philosophers have been discussing ethics for at least 2500 years, since the time of Socrates and Plato. Many ethicists consider emerging ethical beliefs to be "state of the art" legal matters. Values, which guide how we ought to behave, are considered moral values, e.g., values such as respect, honesty, fairness, responsibility, etc. Statements around how these values are applied are sometimes called moral or ethical principles.

The concept has come to mean various things to various people, but generally it's coming to know what it right or wrong in the workplace and doing what's right -- this is in regard to effects of products/services and in relationships with stakeholders. There is no clear moral compass to guide leaders through complex dilemmas about what is right or wrong. Attention to ethics in the workplace sensitizes leaders and staff to how they should act. Perhaps most important, attention to ethics in the workplaces helps ensure that when leaders and managers are struggling in times of crises and confusion, they retain a strong moral compass.

What are Business Ethics?

To simply put it, business ethics involves learning what is right and wrong, and then doing the right thing. Philosophers have been discussing ethics for at least 2500 years, since the time of Socrates and