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Ethics can also refer to codes or other system for controlling means so that
they serve human ends. Ethical standards are often enacted into laws.
But ethical behavior is just and fair conduct which goes beyond observing
laws and government regulations.
It means adhering to moral principles, being guided by particular values,
and behaving in a way people ought to act.
The set of principles called ethics may be written or unwritten codes or
principles governing a professional or human activity.
Business ethics concerns itself with the relationship between business objectives,
practices, and techniques and the good of society.
Business ethics refer to the socially determined moral principles which should
govern business activities.
A few examples of business ethics are:
charging fair prices from customers,
using fair weights for measurement of commodities,
giving fair treatment to workers and
Earning reasonable profits.
A businessperson behaves ethically when her or his actions are upright and serve
the interests of society. This, of course, also applies to that not in business.
Ethical business behavior improves public image, earns people’s confidence and
trust, and leads to greater success. Ethics and profits go together in the long run.
Ethics alone, and not government or laws, can make a society great.
Business Ethics is important due to the following points:
1. It creates a company's image and builds its brand.
2. It impacts the buying decisions of customers.
