Introduction Definition of Ethics Ethics Derived from Greek

Introduction, Definition of Ethics

Ethics • Derived from Greek word ‘Ethicos’ meaning Character or Manners • Science of character of a person expressed as right or wrong conduct or action. • Set of moral principles prescribing code, explains what is good and right, or bad and wrong.

• Ethics in business are nothing but the do’s and don’ts by the business users in the business. In other words it could be referred as set of principles a business man ought to follow. ”There should be business ethics” means that the business should be conducted according to certain self recognized moral standards. Few unethical elements in the present day business are cheating, stealing, lying, bribing, corrupting etc. A business man should be aware of the ethics in the business and should follow them in order to maintain ecological balance in the society.

• DEFINITION: • The study and examination of moral and social responsibility in relation to business practice and decision making in business is known as “Business Ethics”. • The term “business” is commonly referred to the commercial activities achieved at making profit. But gradually there is a substantial change in the way in which people viewed the business.

Business Ethics: What Does It Really Mean? Business Ethics: Today vs. Earlier Period Expected and Actual Levels of Business Ethics Society’s Expectations of Business Ethical Problem Actual Business Ethical Problem 1950 s Time Early 2000 s