Business ethics: Learn about the meaning

Learn about the meaning, concept, nature, elements, principles, importance and theories of business ethics . Explore the history, challenges, guidelines and ethical dilemmas of business conduct with real-life examples. Business Ethics refers to the moral principles and values that shape the conduct of individuals and organisations. This means considering stakeholders, society, and the environment while making decisions and conducting business fairly, honestly, and diligently. Business ethics (also known as corporate 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. What are Business Ethics ? By definition, business ethics are the moral principles that act as guidelines for the way a business conducts itself and its transactions. In many ways, the same guidelines that individuals use to conduct themselves in an acceptable way – in personal and professional settings – apply to businesses as well. Determining Right and Wrong Acting ethically ultimately means determining what is “right” and what is “wrong.” Basic standards exist around the world ...