What is Ethics and Business Ethics
Meaning of Ethics
Ethics is the norm which basically deals with moral values such as what is good and what is bad or what is right and what is wrong. It also terms moral philosophy, disciplines and or principles through it human behavior or action can be appropriately judged good or bad.
In simple words ethics is a code of conduct which relates to moral values and the most important obligation which has to be followed by all the people living in the society and also the whole world.
Meaning of Business Ethics
Business ethics refers to social norms and standards which have to be investigated for proper business strategies and business policies and practices regarding controversial subjects such as corporate governance, insider trading, fraudulent practices, discrimination, corporate social responsibility, and fiduciary responsibilities followed by the business executives respectively. Business ethics encourages ethical conduct of business organizations with full honesty, integrity, and best practices in a systematic manner.
Business ethics assist an organization to operate business activities (business activities refers to any activity in which business engages in making profit such as operating, investing, financing etc.) in an appropriate manner which becomes beneficial for the customers and the employees of the organization. Principles of ethics framework will direct the organization in various difficult circumstances and maintain a healthy relationship with employees, customers, and stakeholders.
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