Ethical And Ethical Aspects Of Business Ethics

1350 Words Apr 9th, 2015 6 Pages
Many authors in business industry have provided different definitions for business ethics. Moreover, definition varies for different people and different organizations. In general, Business ethics:--
-is a set of moral values or applied ethics that’s drives the operation of business.
It’s more than operating a business under existing laws. There is always a question of morality and this morality of values comes from values held by the society. But ethics for each company may have high standard to define for better working environment.
-guides the conduct of all stakeholders for the execution of their responsibilities.
Well-formed ethical principles provide benefits to an organization. but besides benefits ethical wrongdoings harms business management in many ways. Some of These ethical violations can be listed as theft, misreporting of working time, sexual harassment, misuse of power and authority, conveying incorrect information to customers or employees, etc. Therefore such unethical behavior can impact any business in many ways such as lost in sales, higher profits, loss of customer relationship ,etc. Hence ethical approach is fundamental for good business practice.
According to Johnson and Scholes [1], business ethics can be classified at three diverse levels:- Macro Level: This is the highest level where we can define the role and responsibility of business in the national and international organization of societies. Business ethic at this level defines the code of…
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