Business Ethics: A Study Of Ethics And Ethics

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Wikipedia, defines ethics as "…a study of values and customs of a person or a group. It covers the analysis and employment of concepts such as right and wrong, good and evil, and responsibility." Ethics is a branch of philosophy that deals with what is considered to be right or wrong. Definitions of ethics have been widely proposed, such as “codes of morals of a particular profession”, “the standards of conduct of a given profession”, “agreement among people to do the right and to avoid wrong”. Ethics is all about rules that dictate human behavior and social interaction (Chryssides & Kaler, 1993). Webster’s Collegiate Dictionary defines ethics as “the discipline dealing with what is good and bad and with moral duty and obligation”. In more simple words, it is the study of what is right to do in a given situation, and what we supposed to do.
Ethics is the glue that holds organizations together. Doing the right things and the right ways by following the policy and procedure. Effective and appropriate workplace ethics-principles and practices that define the duties, obligations and, by implication, the rights
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However, an action viewed in business perspective may differ from the one viewed in a moral perspective because of the impact they may have on the business. Sometimes lying, fraud, deception and theft may add economic value the business. Managers need to ensure that an organization is run in consistent with the moral norms if at all the moral actions are meant for common good. There should be respect for each other, respect for truth and respect for cooperation and helpfulness in any business organization. Different communities hold on different moral practices and therefore there is no moral practice that is more important than the other. A business must have its code of moral ethics fixing what it terms as immoral and what is morally

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