Business Ethics : Ethical And Ethical Issues

1737 Words Jan 14th, 2015 7 Pages
Business ethics examines ethical principles and moral or ethical problems that arise in a business environment. Business ethics often encompasses many concerns such social responsibility, sustainability, labour practices and environmental development. Business ethics as a concept fundamentally applies to all aspects of business conduct and is relevant to the behavior of individuals and entire organizations. Desjardins (2011) suggests that business ethics is the study of business from an ethical viewpoint. It is about organisational conduct and the ethical consequences of business behaviour. Companies can define ethical business values by outlining clear examples of right or wrong, thus used as a way to guide the behavior of an organization. Carroll (1979) notes that the social responsibility of a business includes legal and ethical expectations that society has of organizations. Their legal responsibility is their obligations to fulfil their economic mission within the confines of the law. Their ethical responsibility is to act as a way to maintain the license to operate (Carroll 1999) which is why core values of business should be in line with core values of society. The World Business Council for Sustainable Business states that businesses have and should have a continuing commitment to behave ethically (Holme and Watts, 2000). Market economies once became stagnant which is an external pressure of business ethics, the concept was no longer the focus of a duty to society or…
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