Introduction and Overview of the course

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9/23/2023 Lect 1 7Aug2023 DPRL
Ethics
 The term "ethics" is derived from the Greek word "ethos"
which refers to character or customs or accepted behaviour’s.
 The Oxford Dictionary states ethics as "the moral principle
that governs a person's behaviour or how an activity is
conducted".
 The synonyms of ethics as per Collins Thesaurus are - moral
code, morality, moral philosophy, moral values, principles,
rules of conduct, standards.
 Ethics is a set of principles or standards of human conduct that
govern the behaviour of individuals or organizations.
 Using these ethical standards, a person or a group of persons
or an organization regulate their behaviour to distinguish
between what is right and what is wrong as perceived by others

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BUSINESS ETHICS
 Business ethics is a form of applied ethics or professional
ethics that examines ethical principles and moral or
ethical problems that can arise in a business environment.
 It is also known as Corporate ethics. It applies to all
aspects of business conduct and is relevant to the conduct
of individuals and entire organizations.
 Ethics is a branch of philosophy and is considered as
normative science because it is concerned with norms of
human conduct.
 Business ethics or corporate ethics or applied ethics is the
art and discipline of applying ethical principles to
examine and solve ethical dilemmas.

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DEFINITION
 ETHICS:
 “Ethics is the discipline dealing with what is good and bad
and with moral duty and obligations”. - According to
WEBSTER.

 FOR BUSINESSE ETHICS

 “Business ethics is the study of business situations
activities and decisions where issues of right and wrong are
addressed”. - According to ANDREW CRANE

 “The ethics of business is the ethics of responsibility. The

businessmen must promise that he will not harm
knowingly”. According to RAYMOND C BAUMHART

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Importance of Business Ethics

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Importance of be
 The power and influence of business in society has increased. Be helps us to
understand why this is happening, what its implications might be, and how we
might address this situation.
 Business has the potential to provide a major contributions to our societies in
terms of producing products and services, employment, paying taxes and
acting as an engine for economic development, this contribution raises
significant ethical issues that go to the heart of the social role in business.
 Business malpractices have the potential to inflict enormous harm on
individuals , communities and on environment. So helping us to understand
more about the causes and consequences of these. Like labor exploitation
 Business ethics provides the means to appreciate and understand the
challenges of being an ethical or not more clearly, in order that firms can meet
these ethical expectations more effectively.

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  BE can hep to improve ethical decision making by
providing managers with the appropriate knowledge and
tools that allow them to correctly identify, diagnose,
analyze and provide solutions to the ethical problems.
 BE provides us knowledge that transcends the traditional
framework of business studies and confronts us with some
of the most important questions faced by society. These
skills are not only helpful in doing business, but rather,
helping us to understand modern societies in a more
systematic way.

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Importance of BE

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FUNCTIONS OFBUSINESS ETHICS
1. Social Responsibility: Business ethics involves considering the impact of
business actions on society and striving to contribute positively.
2. Take Care of Stakeholders: Ethical businesses prioritize the well-being and
interests of all stakeholders, not just shareholders.
3. Maintain Honesty: Honesty and integrity are fundamental in business
ethics, requiring truthfulness and transparency.
4. Demonstrate Behaviors: Business ethics refers to the consistent practice of
ethical behavior within an organization.
5. Policies and Procedures: Ethical businesses establish clear policies and
procedures to guide ethical decision-making.
6. Communication: Effective communication is essential for conveying ethical
values and facilitating reporting of unethical behavior.
7. Ensure Good Use of Power: Business ethics involves using organizational
power and authority responsibly for the benefit of all stakeholders.

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  Does Business ethics and Corporate social
responsibility mean the same?

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Business Ethics differ from CSR
 Business ethics is applying to what business does within its
walls, that is to four of its stakeholders-(i) managers, (ii)
consumers, (iii) investors/owners, and (iv) employees. Less
concern is placed on other three stakeholders, e.g. (a) the
natural environment, (b) the community, and (c) its supplies
and their conditions of work.
 Corporate social responsibility goes much further than
business ethics. Social responsibility encompasses good
business ethics.
 Thus, social responsibility encompasses good ethics, both
within the walls of the company and outside. It encourages
enterprises to be involved in social issue. such as community
improvement, improving under-developed working conditions
and so on: that are outside the walls of the enterprise.

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  Does office ethics are similar to business ethics

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Various Dimensional differences between office ethics &Business
Ethics

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How do I know when we have an ethical office
and/or an ethical business?
1.Values Alignment: There is alignment between stated values and actual behavior.
2.Fair Treatment: Employees and stakeholders are treated with fairness, respect, and
transparency.
3.Compliance: The organization adheres to all relevant laws and regulations.
4.Social Responsibility: There is a commitment to positive social and environmental
impacts.
5.Accountability: Ethical lapses are addressed promptly, and accountability is upheld.
6.Transparency: Information is openly shared, and decision-making processes are
transparent.
7.Stakeholder Engagement: Stakeholder interests are considered and balanced in
decision-making.
8.Long-Term Perspective: Decisions prioritize long-term sustainability over short-term
gains.
9.Continuous Improvement: There is an ongoing effort to improve ethical practices and
culture.

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Ground Rules of Ethics:

1. Honesty: Always tell the truth and be truthful in your actions and
communications.
2. Integrity: Act consistently with your values and principles, even
when it's challenging or inconvenient.
3. Fairness: Treat others equitably, without bias or discrimination.
4. Respect: Show respect for the dignity and rights of all individuals,
regardless of differences.
5. Transparency: Be open and transparent in your actions and
decisions, especially in positions of authority.
6. Accountability: Take responsibility for your actions and their
consequences.
7. Lawfulness: Abide by laws and regulations, and avoid engaging in
illegal activities.

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Ground Rules of Ethics-Pillars of Character
 Ethical Values
 Ethical principles are the rules of conduct that are derived from
ethical values, which are known as six pillars of character, viz.
trustworthiness, respect, responsibility, fairness, caring and
citizenship.
 These values are inseparable from one another and are closely
interwoven and interlinked with each other.
 A number of scientific and research studies have amply proved that
the aforesaid ethical values enhance one's own judgment to take right
and good decisions to benefit all sections of civil society.
 Anywhere and everywhere a person of character and integrity is
immensely loved, respected, admired and emulated by others
because he is always accessible, straight forward in his dealings,
humble and simple. Naturally Vedanta lays great emphasis on
humanity. Admirably Sri Ramakrishna pramhamsa says, "To become
grate, one must be humble.

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 Brief study of these ground rules of ethics, which can be
identified as universal virtues which every human being
should imbibe, develop and practice.
 In fact, it is of immense relevance and importance to a
good professional who is required to serve the society
well and he must, therefore, try to acquire or develop
such virtues.

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Professional Ethics

 There is no difference between the tenets of ethics

applicable to an individual and that of a professional, the
only difference being a professional, is having higher
responsibility and accountability to his action or inaction
to all segments of society on account of his status and
position.

 Professional ethics refers to the moral principles and

guidelines that govern the conduct, behavior, and decision-
making of individuals within a specific profession or
occupational field.

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 Approaches to Ethics
 Philosophers now-a-days tend to divide ethical theories into the following
three areas, such as meta ethics, normative ethics and applied ethics.
 Meta-ethics deals with the nature of moral judgement. It looks at the origins
and meaning of ethical principles.
 Normative ethics is concerned with the content of moral judgments and the
criteria for what is right or wrong(H Carens 1996).
 Applied ethics looks at controversial issues like war, animal rights and capital
punishment and human rights.•
Philosophers’ views on origin of ethics
 Philosophers have several answers to the following questions:
 God and religion
 Human conscience and intuition
 A rational moral cost-benefit analysis of actions and their effects
 The example of good human beings
 A desire for the best for people in each unique situation
 Political

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6 Pillars of character

1. Trustworthiness: Being honest, reliable, and keeping promises. Trust

is fundamental in building ethical relationships.
2. Respect: Treating others with respect and dignity, valuing diversity,
and recognizing the inherent worth of every individual.
3. Responsibility: Taking ownership of one's actions and decisions,
fulfilling obligations, and being accountable for one's conduct.
4. Fairness: Being just and impartial in dealings with others, avoiding
favoritism and discrimination, and ensuring equity.
5. Caring: Showing empathy and compassion, caring for the well-being
of others, and acting in ways that promote kindness.
6. Citizenship: Contributing positively to the community and society,
participating in civic life, and fulfilling one's duties as a responsible
citizen.
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 Myths about Business Ethics
 Carter McNamara has emphasized that "Business ethics at work place is about
prioritizing moral values for the work place and ensuring that behaviors are aligned with
those values-its values management."

 He has highlighted certain myths which arise from notion of ethics as well as views
 of ethical dilemmas as under:
 1. Myth 1: Business ethics is a more matter of religion than management. This is
not true.
 Diane Kirrane asserts that "Altering people's values or souls are not the aim of an
organization ethics programme" -managing values and conflict among them effectively"
 2. Myth 2: Our employees are ethical so we don't need attention to business
ethics-This myth assumes that ethical employees negate the need for a focus on business
ethics within an organization. In reality, even ethical individuals can face ethical dilemmas,
and organizations must provide ethical guidance, set standards, and foster a culture that
reinforces ethical behavior. Ethical management and a strong ethical culture remain
important, regardless of employees' individual ethics.
 3. Myth 3: Business ethics is a discipline best led by philosophers, academics and
theologians This myth implies that business ethics should be solely the domain of scholars
and theologians. In reality, while these experts can contribute valuable insights, business
ethics is a multidisciplinary field that requires involvement from practitioners, leaders, and
various professionals who deal with ethical issues in real-world business contexts. Effective
business ethics involves a collaborative effort from diverse backgrounds and perspectives.

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 Myth 4: Business ethics (i.e., code of ethics and ethical
values) are superfluous-they only assert the obvious This
myth suggests that business ethics is redundant because it merely
reiterates common sense. However, ethics codes and values are
essential for providing clear guidance, preventing lapses, and
fostering an ethical culture within organizations.
 5. Myth 5: Business ethics is a matter of the good persons
preaching to bad persons. It states that business ethics is a
relatively new concept and primarily serves as a policing function
within organizations. In reality, business ethics has a long history
and is not solely about enforcement. It encompasses a wide range
of principles, values, and practices aimed at promoting moral
behavior, responsible decision-making, and a positive ethical
culture within organizations. It goes beyond mere policing to foster
ethical awareness and integrity among employees and leaders
 .6. Myth 6: "Business ethics is the new police-person in
organizations and it is recent phenomenon.” However,
business ethics was written about 2000 years ago. Business
ethics has gotten more attention recently because of social
responsibility movement started in the 1960s."
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 Myth 7: Ethics cannot be managed. Actually, ethics is always
managed-But, too often, This statement emphasizes that ethics is always a part of
organizational management, but it is often managed indirectly or informally. In reality, ethics can
and should be managed directly through the establishment of ethical standards, policies, training,
and a culture that promotes ethical behavior.
 8. Myth 8: "Business ethics had social-responsibility are same thing.
Business ethics focuses on moral principles in business conduct, while social responsibility involves
broader actions that benefit society, including philanthropy and sustainability. They are related but
distinct concepts. Madsen and Shafritz refine the definition ethics to be
 (i) An application of ethics to be corporate community,
 (ii) A way to determine responsibility in business dealings,
 (iii) The identification of important business and social issues, and
 (iv) A critique of business.
 Items (iii) and (iv) are often matter of social responsibility writings. About
social responsibility often do not address practical matter of managing
ethics in the work place, e.g. developing codes, updating policies and
procedures approaches to resolving ethical dilemmas, etc.

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 Myth 9: Our organization is not in trouble with the law, so
we are ethical . . Legal compliance is a necessary but insufficient
condition for being truly ethical. Ethical behavior goes beyond mere
adherence to the law. It encompasses moral values, principles, and
social responsibility. An organization may not be in legal trouble but
may still engage in behavior that is ethically questionable or
harmful to stakeholders. True ethics involves a commitment to
doing what is right, even when it exceeds the minimum legal
requirements.
 10. Myth 10: Managing ethics in the work place has little
practical relevance. Managing ethics in the workplace is highly
practical and relevant. It helps organizations create a culture of
integrity, build trust with stakeholders, reduce legal and
reputational risks, and promote responsible business practices.
Effective ethics management enhances employee morale, attracts
customers and investors, and contributes to long-term
organizational success. It is a vital aspect of contemporary business
operations.

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9/23/2023 Lect 6 7Aug2023 DPRL
Sources of ethics
1. Religion and Spirituality: Many people derive their ethical principles from their religious or
spiritual beliefs. Religious texts, teachings, and traditions often provide moral guidance and
shape individuals' ethical values.
2. Philosophy: Philosophical ethics, also known as moral philosophy, explores fundamental
questions about morality, ethics, and the nature of right and wrong. Philosophers develop
ethical theories and frameworks to guide ethical reasoning and decision-making.
3. Cultural Norms and Traditions: Societies and cultures have their own sets of norms, customs,
and traditions that influence ethical behavior. Cultural values and expectations shape how
individuals perceive and respond to ethical issues.
4. Laws and Legal Systems: Legal systems establish a framework of rules and regulations that
govern behavior within a society. While not all legal actions are necessarily ethical, the law
often reflects a society's ethical standards and provides consequences for unethical behavior.
5. Genetic inheritance: the quality of goodness is a product of genetic traits developed over a
years.
6. Professional Codes of Ethics: In various fields and professions, there are established codes of
ethics that provide guidelines for ethical conduct within that specific domain. Professionals,
such as doctors, lawyers, and engineers, often adhere to these codes as a source of ethical
guidance.

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Theories of Ethics

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 ETHICAL THEORIES
 The various ethical theories are
 1. Teleological Ethics (Consequentialism)
a. Ethical Egoism
b. hedonism
 c. Utilitarianism

 2.Deontology/ Kantian (Non- Consequential

 3.Virtue ethics

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Teleological Ethics

 The Teleological Ethical Theories are concerned with

the consequences of actions which means the basic
standards for our actions being morally right or wrong
depends on the good or evil generated.
 The teleological theory suggests an action is good or bad
depending on its outcome.
 It is based on measuring the probable outcome of the
consequences of the decisions taken.
 For instance, most people would agree that telling a lie
is wrong. But if telling a lie would help to save a person's
life, consequentialism says it's the right thing to do.

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Ethical Egoism

 Ethical egoism is the normative theory that the

promotion of one's own good is in accordance with
morality. Each person should focus exclusively on his
or her interest. It requires that we promote only our
self interest, and not both our interests.

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Hedonism
 The term hedonism is derived from the Greek word
“hedone” which means pleasure.
 Ethical hedonism is said to have been started by
Aristippus of Cyrene, a student of Socrates. It is the
idea that each person should do everything in their
power to achieve the greatest amount of pleasure
possible to them.
 There are two types of hedonism
 • Psychological hedonism : Psychological hedonism is
the view that humans are psychologically constructed
in such a way that we exclusively desire pleasure.
 • Ethical hedonism : Ethical hedonism is the view that
our fundamental moral obligation is to maximize
pleasure or happiness.

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Utilitarianism
 Utilitarianism is a tradition of ethical philosophy that is
associated with Jeremy Bentham and John Stuart Mill (1806
– 1873) British philosophers. Utilitarianism is a normative
ethical theory that places the locus of right and wrong
solely on the outcomes (consequences) of choosing one
actions.
 The right action is the one that maximizes overall happiness or
utility for the greatest number of people, emphasizing the
collective welfare.
 Three Basic Principles of Utilitarianism
 1Pleasure or Happiness Is the Only Thing That Truly Has
Intrinsic Value
 2Actions Are Right as they Promote Happiness, Wrong as
they Produce Unhappiness
 3Everyone's Happiness Counts Equally.

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Deontology
 Deontology is a theory that suggests actions are good or bad
according to a clear set of rules.
 Its name comes from the Greek word deon, meaning duty.
 In moral philosophy, deontological ethics or deontology is the
normative ethical theory that the morality of an action should
be based on whether that action itself is right or wrong under a
series of rules, rather than based on the consequences of the
action.
 It is sometimes described as duty, obligation, or rule-based
ethics.
 Deontological ethics is commonly contrasted to
consequentialism, virtue ethics, and pragmatic ethics.
 In this terminology, action is more important than the
consequences.
 Kant's theory is an example of a deontological theory.
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Kantian
 Kantian ethics refers to a deontological ethical theory
developed by German philosopher Immanuel Kant.
 According to these theories, the rightness or
wrongness of actions does not depend on their
consequences but on whether they fulfill our duty.

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Virtue ethics

 Virtue ethics is developed by the philosopher Aristotle.

 Virtue ethics mainly deals with the honesty and
morality of a person.
 It states that practicing good habits such as courage,
honesty, ambitious, truthfulness and patience makes a
moral and virtuous person.
 Virtues are admirable qualities that lead to moral
excellence.

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ETHICAL ANALYSIS (HOSMER MODEL)

The view is that a manager should always act in accordance with either a single
principle of behavior or a single statement of belief that is "right" and "proper"
and "just" in and by itself. This is "moral reasoning": logically working from a first
principle through to a decision on the duties we owe to others.

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Levels of Business Ethics
 The levels of business ethics are as follows:
 Societal: At this level, questions about the basic institutions in
a society are asked. The problem of apartheid(racial segregation,
discrimination, and the violation of human rights.) and debate
over the merits of capitalism(economic systems, wealth
distribution, corporate power, and social justice) are examples of
such questions.
 Stakeholders: This level is concerned with relations between a
business enterprise and its stakeholders, such as employees,
customers, shareholders, government, regulators, unions, small
investment groups, suppliers, etc. Insider trading is one
example of such relations.
 Internal policy: At this level, relations between an
organisation and its employees are analysed. Rights and
obligations of the two towards each other are important.
 Personal: Here, questions about how people should treat one
another within an organisation are asked. These questions deal
with the day-to-day issues of life.
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 The Main Elements of Business Ethics

 The main elements of business ethics are:

 Values: Values are the moral beliefs held by an individual, an
organisation and a society. Values represent moral convictions
and are relatively permanent. For example, a company may
charge reasonable prices due to its value systems inspite of its
monopoly position in the industry.
 Rights: Rights are the claims of the individual or organization.
For example, every citizen of India enjoys certain rights under
the country’s constitution.
 Duties: Duties are the obligations of a person or an
organisation. For example, every citizen has the duty to follow
the country’s law.

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7 STEPS , HOSMER’S PRINCIPLE OF ETHICAL DECISION
MAKING
1. Principle of Long-term self-interest : This principle advises individuals and
organizations to consider their long-term self-interest when making decisions. It
suggests that actions should not harm the organization's long-term well-being.
2. Principle of Personal Virtue : Never do anything that is not honest, open, and
truthful and that you would never be glad to see reported in the newspapers or
on TV.
3. Principle of Religious injunction: Rooted in a sense of kindness and
community-building, this principle encourages actions that are considerate and
contribute to the well-being of others. It draws from religious teachings that promote
compassion and social cohesion.
4. Principle of Government Requirements : Never take any action that violates
the law, for the law represents the minimal moral standard
5. Principle of Utilitarian benefit : Never take any action that does not result in
greater good for society
6. Principle of Individual rights: This principle highlights the importance of
respecting the rights of individuals. It cautions against actions that infringe upon the
agreed-upon rights of others, emphasizing the protection of individual liberties.
7. Principle of Distributive Justice : Never take any action that harms the least
among us: the poor, the uneducated, the unemployed.

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 A TWO-FOLD OBJECTIVE
 Ethics has a two-fold objective: it evaluates human
practices by calling upon moral standards; also it may give
prescriptive advice on how to act morally in a specific
circumstance.
 The first aim implies analysis and evaluation. It leads to an
ethical diagnosis of past actions and events. The analysis
consists of clarifying standards and lines of argument.
 Already, here ethics can be useful, as one is often unaware
about most moral values and habits of thought. The basic
assumptions behind our moral actions and judgements
are mainly taken for granted.
 Normative ethics analyses our judgements and makes our
moral assumptions explicit, but it may also criticize them.
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 The first purpose does not limit itself to neutral description. It
seeks to understand the real issues that are at stake in order to
make adequate evaluations. The underlying moral issues may
then often be represented as a dilemma. Such moral choices
often confront us with painful choices; presenting options that
each has positive and negative features. Moreover, these
features are not easily evaluated, because people have different
objectives. These different goals may lead to different moral
standards.
 In front of such true dilemmas reflective practitioners have to
make a stand. One has to choose a line of conduct in order to
serve vital objectives. In this sense normative ethics is
evaluative. The recommended guidelines may lead to a critical
evaluation of actual or historical choices.
 Normative ethics sets itself a second and more curative purpose.
Ethics develops rational methods for answering the present and
future issues. In order to achieve this second objective one has
to be well informed.

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  Balanced judgements are based on careful assessment
of relevant information; also has to be quite specific
when deciding upon appropriate normative standards.
If both these conditions are met, ethical thought may
lead to valid prescriptions.
 So, the second objective is to provide therapeutic
device. It suggests solutions and policies when facing
the present dilemmas and future dangers, based on
well-informed opinions. This especially requires a
broad-minded identification of relevant stakeholders
and a clear understanding of the vital issues at stake.

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HOW TO SOLVE AN ETHICAL DILEMMA
 The biggest challenge of an ethical dilemma is that it does not
offer a solution that would comply with ethical norms.
Throughout the history of humanity, people have faced such
dilemmas and philosophers aimed and worked to find
solution.
 The following approaches to solve an ethical dilemma were
deducted:
 1. Refute the paradox (dilemma): The situation must be
carefully analysed. In some cases, the existence of the dilemma
can be logically refuted.
 2. Value theory approach: Choose the alternative that offers the
greater good or the lesser evil.
 3. Find alternative solutions: In some cases, the problem can
be reconsidered and new alternative solutions may arise.
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Morality
 People should be self-disciplined in order to carry out ethical actions
successfully. Morality refers to the concept of human action which
pertains to matters of right and wrong. Individuals who oppose with
determination inducement towards the wrong spend a good moral
life.
 Ethical actions should be performed as a community standard rather
than as an individual responsibility. Individuals in a society can
perform three types of ethical actions.
 These actions are:
 Morality: Morality actions are performed to secure the future of
others.
 Religion: Religion is the collection of ethical actions that can affect
a group or society.
 Civil law: Civil law actions are a collection of ethical actions that can
be used to change or control the behaviour of an individual in
society.
 Therefore, morality can be defined as the collection of concepts and
attitude that can be used by a culture or a group in society to control
or change the behaviour of an individual.

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 Different societies or cultures have their different opinions on
morality.
 Morality can be applied to the generality or the part of the
fields in which the personal opinions of the individual have
some relation or reference to other individuals. These
individuals may belong to some other community too.
Therefore, morality can exist in isolation or in a generic society.
 There exist different types of groups or societies having
different views on behaviour. Some groups put heavy
restrictions on behaviour and some groups allow the
individuals to be self-determined. Morality can also be defined
as the personal ethical behaviour that an individual creates for
himself.
 The terms ‘morality’ and ‘ethics’ have a strong relationship with
each other. Morality refers to moral character or standards.
Morality is used to analyse the behaviour of the individual and
the standards of conduct.
 Ethics is used to refer to the formal study of these standards.
Morality can be considered as ethics in action.

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Pictorial representation Moral’s, Values , Ethics

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 The mind is responsible for the thoughts and feelings of individuals. The
existence of individuals and their activities is only due to their mind. The
feelings and opinions of persons depend on their mind.
 A person having a good mind has good feelings and a person having a
disturbed mind has disturbed feelings.
 Professor Gardner suggests five types of minds. The ethical mind is one of
them. The others are disciplined mind, synthesizing mind, creating mind and
respectful mind.
 The ethical mind of a person is affected by the nearby surroundings and
culture. Ethical minds can be of two types. These are:
 Subjective mind: The subjective mind faces motivation from the different
objects of the world. This type of human mind is called as the outer mind.
 Objective mind: This type of mind reacts to the encouragement received
from the outside world. This type of human mind is called the inner mind.

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9/23/2023 Lect 8 7Aug2023 DPRL
 The objective mind of the human being is under the control of
the subjective mind. The objective and subjective minds of
human beings are separated by layers of egoistic desires. The
confidence of an individual depends on the distance between
these two minds.
 The greater the distance between these two minds, the more
confused is the person. If the distance between the two minds is
large, then the objective mind does not receive any message
from the subjective mind.
 If the mind is in a state of confusion, then the mind of the
individual becomes nervous, unsteady and confused. Thus, the
person loses his morale.
 If the emotions of the person are separated from his mental
power, then the objective mind would not be under the control
of the subjective mind. This situation can make a man wild and
come to some unintelligent conclusions.
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Morals
 Morals are the rules that govern which actions are right
and which are wrong. Morals can be for all of society or
an individual’s beliefs. Sometimes a moral can be
gleaned from a story or experience.

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Characteristics of Morals
 A Central feature of morality is the moral
principle. We have already noted that moral
principles are practical guides to action that differ
from legal statutes, rules of etiquette, and even
religious rules. We must say a word about the
features of moral principles.

 Although there is no universal agreement on

which traits a moral principle must process, the
following traits have received widespread
attention:

9/23/2023 Lect 9 7Aug2023 DPRL

Traits of Moral Principle

9/23/2023 Lect 9 7Aug2023 DPRL

 MORAL STANDARDS
 Moral standards provide tools for judging the moral value
of a decision. Moral standards are the yardsticks of
business ethics. They provide the basis for deciding
whether an act is right or wrong.

9/23/2023 Lect 9 7Aug2023 DPRL