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to Bu-siness Ethics

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Known as Moral Judgement

Fig. 7.7 Meaning of Ethics

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1.4

Definition of Ethics and Business Ethics

gi ven for ethi cs i n the

wt : will ex a mi n e d i ffe re n t d e fi n i ti o ns rlir'llirrratries s well as in books. a

According to Concise Oxford Dictionary, 'ethics' is relating to morals: treating of moral questions; morally correct; honourable. It is the study of morars and moral choices. It focuses on s t a n d a r d s , r u l e s a n d c o d e s o f c o n d u c t t h a t govern the behaviour of individuals and groups. In the simplest terms, business ethics are moral principles that define right and wrong behaviour in the world oftusin.UJ; what constitutes right and wrong behaviour in business is determined by the public interJst groups, and business organilqtions, as well as an individual's pelsonal morals and
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The other dictionary meaning of 'ethics' is that it is the 'science o-fmorals'; it is that branch of philosophy, which is concerned with human character and conduct. it ir a treatise on morals (capable of knowing right and wrong). 'Ethics' refer to the code of conduct that guides an individual while dealing in a situation. It relates to the social rules that influence people to be honest in dealing with the other people. Ethics are-the principles of behaviour that distinguish between the right from the wrong. Business ethics i" in. evaluation of business activities and behaviour as right or wrong. Ethical conduct conforms with what a group or society, as a whole considers right behaviour. Ethics can be defined as_thestudy of what makes up good and bad conduct inclusive of related ictions bnd values. Business ethics, which is a subject of the study of Ethics and is defined