Unit 1: Introduction

Concept of Business Ethics:

• By definition, business ethics refers to the standards for morally right

and wrong conduct in business. Law partially defines the conduct,
but “legal” and “ethical” are not necessarily the same.

• Ethics examines the rational justification for our moral judgments; it

studies what is morally right or wrong, just or unjust. In a broader
sense, ethics reflects on human beings and their interaction with
nature and with other humans, on freedom, on responsibility and on
justice.
 Unit 1: Introduction
Concept of Business Ethics:

• Many companies have a code of conduct that governs their public

relations and operational policies. Enterprises refer to these codes as
business ethics, and they're an important part of several current
corporate environments. If you work in a business setting, it might be
helpful to learn more about what business ethics are and why they
matter.
• Business ethics are policies that guide the behavior of corporate
entities, especially regarding controversial subjects.
• Business ethics protect companies from legal liability and ensure that
they treat their customers and team members with respect.
• Corporate ethics codes often include subjects like social responsibility,
insider trading, discrimination, corporate governance and bribery.