Business Ethics : Ethics And Social Code

1422 Words Sep 29th, 2015 6 Pages
Business ethics is a form of ethics which is applied in the field of business and it deals with the ethical issues and principles arising in a business background. In short business ethics means to carry on business for the human welfare and the benefit of the society. ' 'Business ethics is the study of business situations, activities and decisions where issues of right and wrong are addressed (Trevino.,1986)”.
1. Nature of Business ethics:
The following are the features of business ethics:
• Etiquette or Social code: - Business ethics is a social code. For a successful and useful business a code of conduct should be followed. It tells us about the DO 's and Don’ts in a business environment and helps us to guide business for the welfare of human and society (Blom.,2000).
• Old concept:- We can trace the concept of business ethics to a very ancient period even with the development of human civilizations.
• Related to moral and social values: - Business ethics works based on social and moral principles in a society. It gives equal benefits to all social groups, avoids indiscrimination, and provides integrity for the welfare of the society. It works against the exploitation of the people.
• Provides Security to different Social groups: - It provides equal rights to different social groups including consumers, governments, and small entrepreneurs.
• Autonomous:- Business ethics of a businessman should be uncompelled and free willed. It should not be forced on…

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