What is Business Ethics?

Decent Essays

In today’s business world businesses face the challenge of doing the right thing over doing the profitable thing more than ever before. For many years the sole purpose of business was to be make profits for the shareholders. This view has now been changed. The propriety of business actions is being challenged by the modern day consumer. One of the major issues or opportunities (depending on which way one may see it) is the issue of ‘going-green’. Consumers in today’s society have access to a large archive of information and the consumer will take up the opportunity to look up the practices of a business. This can place a strain on business as they are constantly being watched by consumers. The role which business plays in its surrounding community is one that has been mistakenly avoided by many companies in the past.
The focus of this study is to point out the role that the ethics and corporate social responsibility play in the sustainability of a business in today’s world. The study will seek to an extent point out the importance of good business practices in respect to ethics and social responsibility.

What is Ethics?

Before we diverse into the understanding of the role of ethics in business it is vital we have a firm and clear understanding of the word ‘ethics’ itself. The word ethics has Greek roots derived from the word ‘ethos’ which means accepted behaviour. After reading a number of definitions of the word one has come to the conclusion that ethics has to deal

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