AN OVERVIEW OF ETHICS BEN 101 DEFINITION OF

AN OVERVIEW OF ETHICS BEN 101

DEFINITION OF ETHICS Ethics, sometimes known as philosophical ethics, ethical theory, moral theory, and moral philosophy, is a branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct, often addressing disputes of moral diversity. The term comes from the Greek word ethos, which means "character“, custom or habit. Richard Paul and Linda Elder of the Foundation for Critical Thinking define ethics as "a set of concepts and principles that guide us in determining what behavior helps or harms sentient (emotional) creatures“; The Cambridge Dictionary of Philosophy states that the word ethics is "commonly used interchangeably with 'morality'. . . and sometimes it is used more narrowly to mean the moral principles of a particular tradition, group or individual”.

DILEMMAS OF ETHICS Ethics covers the following dilemmas: how to live a good life our rights and responsibilities the language of right and wrong moral decisions - what is good and bad? Concepts of ethics have been derived from religions, philosophies and cultures. They infuse debates on topics like abortion, human rights and professional conduct.

DIVISIONS OF ETHICS Ethics may be divided into four major areas of study: 1. Meta-ethics deals with the nature of moral judgment; the origins and meaning of ethical principle; it is concerned with theoretical meaning and reference of moral propositions and how their truth values may be determined; 2. Normative ethics This involves the content of moral judgments and the criteria for that which is right or wrong; the practical means through which a moral course of action can be determined;

DIVISIONS OF ETHICS Applied ethics This division of ethics is concerned with more controversial topics like war, animal rights and capital punishment. It draws upon ethical theory in order to ask what a person is obligated to do in some very specific situation, or within some particular domain of action (such as business); Descriptive ethics also known as comparative ethics, is the study of people's beliefs about morality;

ETHICS Ethics seeks to resolve questions dealing with human morality—concepts such as good and evil, right and wrong virtue and vice, justice and crime. What use is ethics? § Ethics can provide moral map § Ethics can pinpoint a disagreement § Ethics does not give right answers § Ethics can give several answers Ø Ethics and People Ethics is about the “other” Ethics as a source of group strength Good people as well as good actions Searching for the source of right or wrong

What is Business/ Corporate Ethics? Business ethics is a form of applied ethics/ professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. Business ethics has both normative and descriptive dimensions. As a corporate practice and a career specialization, the field is primarily normative. Academics attempting to understand business behavior employ descriptive methods.

What is Business/ Corporate Ethics? PART II Governments use laws and regulations to point business behavior in what they perceive to be beneficial directions. Ethics implicitly regulates areas and details of behavior that lie beyond governmental control. The emergence of large corporations with limited relationships and sensitivity to the communities in which they operate accelerated the development of formal ethics regimes. It should also be noted that all corporate institutions have some form of code of conduct (ethics). For instance: Banking Sector. NB. READ ON HISTORICAL ETHICAL THEORIES § Aristotle § Socrates